The United States market leads the telehealth software market in terms of market share in North America. The United States region held a market share of 21.3% in 2022.
The telehealth software market is anticipated to expand its roots at a significant CAGR of 15.7% between 2023 and 2033. The market is expected to have a market share of US$ 29.56 billion by 2033 while it is likely to be valued at US$ 6.85 billion in 2023.
Increased demand for easy prescriptions, fast monitoring, and doctor's consultations led to the origin of telehealth software. This software and app let you connect with doctors around the world through different communication channels. Furthermore, advanced software technology delivers health services to people who are sitting at home.
This software has been a blessing for people during the pandemic as they have helped people with queries and generic prescriptions. The channels used for the monitoring are remote patient monitoring (RPM).
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The health practitioner monitors and gains information about the patient through chat, audio, and video medium. Alongside this, different benefits like affordable prescription costs, better-specialized doctors, and long-term relationships with the doctor make it a perfect health solution for the end users.
The better internet bandwidth, the advent of 5G, and high smartphone penetration fuel the market growth. Also, the software breaks geographical boundaries to enhance healthcare services.
The software caters to people with temporary and ongoing health issues, patients living in remote areas, mental health patients, and pregnant women. The two-way communication between doctors and patients includes high engagement, improved patient outcomes, and reduced readmissions.
Key Points
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Competitive Landscape:
The key vendors work on easy access, interactive interface, a high number of specialized doctors on board, and less number of software bugs. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Key Players Operating in the Telehealth Software Market
Recent Market Developments:
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Key Segments Covered
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 01, 2023