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Healthcare Specialties such as Telebehavioral Health, Teledermatology, and Medical-grade Activity Tracking Expected to Add Value for both Patients and Physicians
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Telehealth services and systems have made the most progress in remote management of post-acute care patients or among patients with chronic conditions, many of whom have one or more co-morbidity. This progress is visible across 4 major segments: remote patient monitoring (RPM), virtual telehealth visits, mobile health (mHealth), and personal emergency response systems (PERS). This study finds the overall US telehealth market will grow by a compound annual growth rate (CAGR) of 29.3% from 2016 to 2021. One unique aspect of this research is the view that the larger segments of the telehealth market will stimulate some break-out growth in 14 sub-segment markets including: activity tracking, telebehavioral health, teledermatology, telediabetes management, telemedicine platforms, telepediatrics, tele-ICU, telecardiology, telestroke management, teleradiology/tele-Imaging, telehealth kiosks, telemedication management, telepharmacy, and other specialty areas. The study ranks the segments and sub-segments based on a variety of criteria ranging from short-term revenue opportunities to the transformative potential of each segment covered. The research finds the greatest opportunity will be associated with the mHealth segment because in addition to stimulating service via a large array of devices, and thousands of health-related apps, mHealth offers many enabling capabilities across all segments and sub-segments including connectivity and secure data transport. This study also covers a mix of large and smaller industry participants offering services including Medtronic Care Management Services, Philips Telehealth, American Well, Teladoc, Qualcomm Life, Vidyo, Zipnosis, Dexcom, Tactio, and many others. Key questions this research will answer address: • What are telehealth services and how are these solutions being deployed by 4 key market segments—healthcare payers, employer plans, hospitals, and physicians? • What are the market-shifting macro trends impacting the need to deploy new or improved solutions to enable patients to achieve quality care using telehealth in a variety of settings?• What are the specific drivers and restraints impacting the telehealth virtual visits market in the United States over the next 5 years? • What are the sub-segments of the telehealth market and which ones offer the best opportunities for growth? • What is the 6-year revenue outlook for the telehealth market and the major segments? Frost & Sullivan predicts that within 5 to 7 years telehealth will become a mainstream health option. The consumer or patient will be able to maintain an ongoing relationship with his/her physicians while enjoying greater ease of access. Meanwhile, the global proliferation of the Internet of Medical Things (IoMT) will reduce the number of new chronic condition patients.
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