Telehealth Market by Component, End User & by Delivery Mode - Trends & Global Forecast to 2020

The healthcare industry is undergoing a fundamental transformation globally—a shift from a volume-based business to a value-based business. Growing demands from consumers for improved healthcare quality and greater value are forcing healthcare providers and payers to deliver optimized outcomes. In addition, while the number of hospital admissions is rising globally, healthcare infrastructure is not growing at a similar pace, which has added to the burden on healthcare systems. In order to overcome these challenges and meet consumer expectations, healthcare providers are increasingly adopting telehealth solutions that enable them to provide improved healthcare at reduced costs.
The global telehealth market is expected to grow at a CAGR of 24.2% from 2015 to 2020 to reach $6.5 billion by 2020 from $2.2 billion in 2015. Over the years, the healthcare industry has recognized that traditional approaches to patient care, quality assurance, and cost management are inefficient in the face of emerging challenges. Therefore, telehealth solutions will be among the priorities on the investment list of healthcare organizations seeking to streamline the telehealth process and ensure effective cost management.
Based on component, the services segment is expected to be the largest (in 2015). However, the software segment will be fastest-growing component segment. Among the hardware segments, monitors are expected to dominate the telehealth market in 2015. However, the medical peripheral devices segment is expected to be the fastest-growing (during 2015 to 2020). Based on medical peripheral devices, the blood pressure meters segment is expected to be the largest and the fastest-growing (during 2015 to 2020). Based on software, the integrated solutions segment is expected to be the largest (in 2015) and the fastest-growing (during 2015 to 2020). Based on services, the remote monitoring segment is expected to be the largest (in 2015). However, the real-time interaction segment will be fastest-growing component segment. Based on the mode of delivery, the web-based solutions segment is expected to dominate the telehealth market in 2015. However, cloud-based solutions will be the fastest-growing delivery mode. Among end users, the providers segment is expected to be the largest (in 2015) and the fastest-growing (during 2015 to 2020).
Based on region, Asia-Pacific is expected to grow at the highest CAGR during 2015 to 2020. The high growth of the Asia-Pacific region can be attributed to the growing medical tourism industry, rapidly growing healthcare industry in India, increasing number of HCIT programs and rising prevalence of chronic diseases in Australia, and increasing funding for telehealth in Australia.
The companies in this market focus on growth strategies such as agreements, partnerships, collaborations, and strategic alliances; new product launches; acquisitions; and others (FDA approvals, contract extension, market development, product enhancement, expansion, product deployment, and client acquisition) to increase their customer base.
The major players in the global telehealth market include Cerner Corporation (U.S.), GE Healthcare (U.K.), Honeywell Life Care Solutions (U.S.), McKesson Corporation (U.S.), Medtronic, Inc. (U.S.), the Medvivo Group (U.K.), Philips Healthcare (Netherlands), Robert Bosch Healthcare (U.S.), Siemens Healthcare (Germany), Cisco Systems, Inc. (U.S.), and Tunstall Healthcare (U.K.).
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
‧ Market Penetration: Comprehensive information on product portfolios and services offered by the top 11 major players in the telehealth market. The report analyzes telehealth across regions.

‧ Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the telehealth market.

‧ Market Development: Comprehensive information about lucrative emerging markets.

‧ Market Diversification: Extensive information about new products and services, untapped geographies, recent developments, and investments in the telehealth market.

‧ Competitive Assessment: In-depth assessment of strategies, products, and services of leading players in the telehealth market.

TABLE OF CONTENTS

1 INTRODUCTION 16
1.1 OBJECTIVES OF STUDY 16
1.2 MARKET DEFINITION 16
1.3 MARKET SCOPE 17
1.3.1 MARKETS COVERED 17
1.3.2 YEARS CONSIDERED FOR THE STUDY 17
1.4 CURRENCY 18
1.5 LIMITATIONS 18
1.6 STAKEHOLDERS 18
2 RESEARCH METHODOLOGY 19
2.1 RESEARCH METHODOLOGY STEPS 19
2.2 SECONDARY AND PRIMARY RESEARCH METHODOLOGY 20
2.2.1 SECONDARY RESEARCH 20
2.2.2 PRIMARY RESEARCH 21
2.2.2.1 Key industry insights 21
2.2.2.2 Key data from primary sources 22
2.2.2.3 Key insights from primary sources 23
2.3 MARKET SIZE ESTIMATION METHODOLOGY 23
2.4 RESEARCH DESIGN 25
2.5 MARKET DATA VALIDATION AND TRIANGULATION 26
2.6 ASSUMPTIONS FOR THE STUDY 26
3 EXECUTIVE SUMMARY 27
3.1 INTRODUCTION 27
3.2 CURRENT & FUTURE OUTLOOK 27
3.3 MARKET SHARE 32
3.4 GROWTH STRATEGIES 32
4 PREMIUM INSIGHTS 33
4.1 GLOBAL TELEHEALTH MARKET OVERVIEW 33
4.2 GLOBAL TELEHEALTH MARKET, BY COMPONENT 34
4.3 GEOGRAPHIC ANALYSIS OF THE TELEHEALTH MARKET, BY END USER 35
4.4 TELEHEALTH SERVICES MARKET, BY TYPE 36
4.5 GEOGRAPHICAL SNAPSHOT OF THE TELEHEALTH MARKET 36
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5 TELEHEALTH- CASE STUDIES 37
5.1 INTRODUCTION 37
5.1.1 CHATEAU GIRARDEAU DEPLOYED HONEYWELL’S LIFESTREAM MANAGEMENT SUITE AND PERSONAL EMERGENCY RESPONSE SYSTEM (M-PERS) DEVICES FROM MOBILEHELP 37
5.1.2 HARROGATE DISTRICT HOSPITAL DEPLOYED TELEHEALTH SOLUTION FROM TUNSTALL HEALTHCARE 38
5.1.3 SCOTTISH CENTRE FOR TELEHEALTH DEPLOYED CISCO’S TELEHEALTH SOLUTION 39
5.1.4 CENTURA HEALTH AT HOME SELECTED CARDIOCOM’S COMMANDER FLEX ENHANCING THE HOME TELEHEALTH PROGRAM 39
5.1.5 FSU MEDICAL SCHOOL TREATED PATIENTS IN PANAMA THROUGH VIDEOCONFERENCING 40
6 MARKET OVERVIEW 41
6.1 INTRODUCTION 42
6.2 MARKET SEGMENTATION 42
6.3 MARKET DYNAMICS 43
6.4 DRIVERS 44
6.4.1 INCREASING AGING POPULATION 44
6.4.2 RISING PREVALENCE OF CHRONIC DISEASES 44
6.4.3 SHORTAGE OF PHYSICIANS IN THE U.S. AND UNEVEN DISTRIBUTION WORLDWIDE 45
6.4.4 IMPROVEMENTS IN TELECOMMUNICATION INFRASTRUCTURE 45
6.4.5 TECHNOLOGICAL ADVANCEMENTS 46
6.4.6 BENEFITS OF TELEHEALTH 46
6.4.7 RISING HEALTHCARE COSTS CREATE A NEED FOR MORE AFFORDABLE TREATMENT OPTIONS 46
6.5 RESTRAINTS 48
6.5.1 LEGALITY, PRIVACY, AND SECURITY CONCERNS 48
6.5.2 LIMITED REIMBURSEMENTS STRUCTURE 49
6.6 OPPORTUNITIES 50
6.6.1 BENEFITS OFFERED BY WEARABLE TECHNOLOGIES 50
6.6.2 VIDEO DIAGNOSTIC CONSULTATION 50
6.7 CHALLENGE 51
6.7.1 LACK OF TELEHEALTH STANDARDS 51
7 TELEHEALTH MARKET, BY COMPONENT 52
7.1 INTRODUCTION 53
7.2 SERVICES 54
7.2.1 REMOTE MONITORING 56
7.2.2 REAL-TIME INTERACTIONS 57
7.2.3 STORE-AND-FORWARD 58
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7.3 SOFTWARE 59
7.3.1 INTEGRATED SOFTWARE 61
7.3.2 STANDALONE SOFTWARE 62
7.4 HARDWARE 63
7.4.1 MONITORS 64
7.4.2 MEDICAL PERIPHERAL DEVICES 65
7.4.2.1 Blood Pressure Meters 66
7.4.2.2 Blood Glucose Meters 67
7.4.2.3 Weight Scales 68
7.4.2.4 Pulse Oximeters 68
7.4.2.5 Peak Flow Meters 69
7.4.2.6 ECG Monitors 70
7.4.2.7 Other Devices 70
8 TELEHEALTH MARKET, BY MODE OF DELIVERY 72
8.1 INTRODUCTION 73
8.2 WEB-BASED DELIVERY MODE 76
8.3 CLOUD-BASED DELIVERY MODE 77
8.4 ON-PREMISE DELIVERY MODE 78
9 TELEHEALTH MARKET, BY END USER 79
9.1 INTRODUCTION 80
9.2 PROVIDERS 81
9.3 PAYERS 82
9.4 PATIENTS 83
9.5 OTHER END USERS 84
10 TELEHEALTH MARKET, BY REGION 85
10.1 INTRODUCTION 86
10.2 NORTH AMERICA 88
10.2.1 U.S. 93
10.2.1.1 Cutting healthcare costs through telehealth 93
10.2.1.2 Stringent telehealth reimbursement policies in the U.S. 93
10.2.1.3 Rising prevalence of chronic diseases, shortage of physicians 94
10.2.1.4 Increasing in aging population 94
10.2.1.5 Implementation of the Affordable Care Act (ACA) 94
10.2.1.6 Increasing funding for telehealth 95
10.2.2 CANADA 98
10.2.2.1 Increasing healthcare spending in Canada 98
10.2.2.2 Conferences on telehealth 98
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10.3 EUROPE 102
10.3.1 UNITED4HEALTH PROJECT TO ENHANCE TELEHEALTH SERVICES 103
10.3.2 INCREASING AGING POPULATION AND HEALTHCARE COSTS 103
10.3.3 RISING ADOPTION OF ELECTRONIC HEALTH RECORDS 103
10.3.4 TELEHEALTH & TELEMEDICINE-RELATED CONFERENCES 104
10.4 ASIA-PACIFIC 108
10.4.1 GROWING MEDICAL TOURISM INDUSTRY 109
10.4.2 RAPIDLY GROWING HEALTHCARE INDUSTRY IN INDIA 109
10.4.3 INCREASING NUMBER OF HCIT PROGRAMS AND RISING PREVALENCE OF CHRONIC DISEASES IN AUSTRALIA 109
10.4.4 INCREASING FUNDING FOR TELEHEALTH IN AUSTRALIA 110
10.5 REST OF THE WORLD 114
10.5.1 INCREASING HEALTHCARE INVESTMENTS IN THE MIDDLE EAST 115
10.5.2 GROWING HEALTHCARE IT MARKET IN LATIN AMERICA 115
11 COMPETITIVE LANDSCAPE 119
11.1 OVERVIEW 119
11.2 MARKET SHARE ANALYSIS, BY KEY PLAYER 119
11.3 INTRODUCTION 119
11.4 PHILIPS HEALTHCARE 119
11.5 MEDTRONIC, INC. 120
11.6 HONEYWELL LIFE CARE SOLUTIONS 120
11.7 COMPETITIVE SCENARIO 121
11.7.1 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS AND STRATEGIC ALLIANCES 122
11.7.2 NEW PRODUCT LAUNCHES 124
11.7.3 ACQUISITIONS 125
11.7.4 OTHERS 126
12 COMPANY PROFILES 127
(Overview, Financials, Products & Services, Strategy, & Developments)*
12.1 INTRODUCTION 127
12.2 PHILIPS HEALTHCARE 128
12.3 MEDTRONIC, INC. 130
12.4 HONEYWELL LIFE CARE SOLUTIONS 134
12.5 TUNSTALL HEALTHCARE 136
12.6 CERNER CORPORATION 139
12.7 CISCO SYSTEMS, INC. 141
12.8 GE HEALTHCARE (A SUBSIDIARY OF GENERAL ELECTRIC COMPANY) 144
12.9 MCKESSON CORPORATION 147
12.10 MEDVIVO GROUP LTD 149
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12.11 ROBERT BOSCH HEALTHCARE, INC. (A SUBSIDIARY OF BOSCH GROUP) 151
12.12 SIEMENS HEALTHCARE 154
*Details on Financials, Product & Services, Strategy, & Developments might not be captured in case of unlisted companies.
13 APPENDIX 156
13.1 DISCUSSION GUIDE 156
13.2 COMPANY DEVELOPMENTS (2012-2015) 161
13.2.1 MEDTRONIC, INC. 161
13.2.2 TUNSTALL HEALTHCARE 162
13.2.3 CERNER CORPORATION 163
13.2.4 CISCO SYSTEMS, INC. 163
13.2.5 GE HEALTHCARE 164
13.2.6 ROBERT BOSCH HEALTHCARE, INC. 164
13.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 165
13.4 AVAILABLE CUSTOMIZATIONS 165
13.5 RELATED REPORTS 166