by Ryan Smith 17 Feb 2020
The telehealth market is projected to see a
compound annual growth rate of 14.9% over the period between 2019 and 2026,
according to a new report from Acumen Research and Consulting. The global
telehealth market is expected to be worth US$53.1 billion by the end of that
period.
Factors driving the growth include an increasing
number of patients suffering from chronic ailments, an increase in the geriatric
population and a growing inclination toward home healthcare. Rapid urbanization
in developing areas, the high penetration of mobile phones and technological
advances in healthcare products and services are also fuelling the growth.
However, the lack of regulations and favourable policies in developing
countries may limit the adoption of telehealth services in those markets,
Acumen said.
North America held the largest share of the
market in 2018, and is expected to continue to do so throughout the forecast
period. However, the Asia-Pacific region is projected to grow at the fastest
rate due to increasing adoption of IT services in healthcare.
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