According to this latest publication from Meticulous Research®, the Telehealth Market is expected to grow at a CAGR of 21.6% from 2022 to 2029 to reach $539.73 billion by 2029.
This market is driven by the increasing geriatric population, coupled with the rising prevalence of chronic diseases, favorable government initiatives & policies, the shortage of healthcare professionals, and increasing digitalization & the rising awareness about the benefits of telehealth.
However, the limitations of telehealth and patient privacy & confidentiality issues restrain the growth of this market. The use of artificial intelligence & virtual assistants and the development of telerobots are expected to create market growth opportunities. However, the reluctance to migrate from conventional systems & the possibility of misdiagnosis and technological barriers in developing countries are expected to remain major challenges for the players operating in this market.
Here are the top 10 companies operating Telehealth Market –
Aerotel Medical Systems (1998) Ltd. (Israel) (Subsidiary of Aerotel Ltd.)
Founded in 1985 and headquartered in Holon, Israel, Aerotel Medical Systems is a manufacturer of modular, mobile, and home-based telemedicine and telecare solutions. The company provides complete solutions for telemedicine, telehealth, and ECG monitoring applications. Aerotel Medical Systems provides end-to-end hardware and software platforms, with phone and web-based software solutions. The company’s transtelephonic devices are designed for various applications, such as remote diagnostic, emergency services, rehabilitation, and monitoring.
Aerotel Medical Systems has a wide geographic presence in over 40 countries, including the U.S., India, Chile, China, Australia, and Canada.
Cerner Corporation (U.S.) (Subsidiary of Oracle Corporation)
Incorporated in 1979 and headquartered in Missouri, U.S., Cerner Corporation is engaged in developing and producing IT solutions and services in the healthcare industry. The company operates through two business segments, namely, Domestic and International. Cerner generates revenue through seven business models: Licensed Software, Technology Resale, Subscriptions, Professional Services, Managed Services, Support & Maintenance, and Reimbursed Travel. The company provides technologies that connect people and systems through a wide range of services and has already served over 27,000 provider facilities worldwide to support organizations’ clinical, financial, and operational needs. Its virtual health solutions offer solutions related to telehealth and telemedicine. The company enhanced its telehealth offerings during the COVID-19 pandemic. Cerner Corporation collaborated with Amwell Medical Group (U.S.) to offer the COVID-19 Response Module.
With a strong network of subsidiaries and distributors, Cerner Corporation generates revenue from North America (the U.S. and Canada), Europe (Austria, Belgium, Bermuda, Cayman Islands, Denmark, England, Finland, France, Germany, Ireland, Luxembourg, the Netherlands, Norway, Portugal, Romania, Slovakia, Spain, Sweden, and Switzerland), Asia-Pacific (Australia, India, Malaysia, and Singapore), Latin America (Aruba, Bahamas, Brazil, Chile, and Mexico), and the Middle East & Africa (Egypt, Kuwait, Qatar, Saudi Arabia, and UAE). The company uses lead generation activities to market its ambulatory solutions directly to the physician practice.
Some of its subsidiaries operating in this market are Cerner Belgium (Belgium), Cerner Canada ULC (Canada), Cerner Deutschland GmbH (Germany), Cerner Egypt L.L.C (Egypt), Cerner France SAS (France), Cerner Healthcare Solutions India Private Limited (India), Cerner Iberia, S.L.U. (Spain), Cerner México, S. de R. L. de C.V. (Mexico), and Cerner Soluções para a Saúde Ltda. (Brazil).
Medtronic PLC (Ireland)
Founded in 1949 and headquartered in Dublin, Ireland, Medtronic plc is engaged in the research, designing, manufacturing, and sales of a wide range of device-based medical therapies and services. The company operates through four reportable business segments, namely, Cardiovascular, Medical Surgical, Neuroscience, and Diabetes. The Cardiovascular business segment offers services for the telehealth market. Medtronic’s primary customers are hospitals, clinics, third-party health care providers, distributors, and other institutions, including government health care programs and group purchasing organizations.
Medtronic has operated in more than 150 countries all over the globe. The company’s executive office is located in Dublin, Ireland, while its operational office is located in Minnesota, U.S. It has manufacturing and research facilities in the U.S., China, Puerto Rico, Mexico, Italy, Ireland, Switzerland, and Israel.
Koninklijke Philips N.V. (Netherlands)
Founded in 1891 and headquartered in Amsterdam, Netherlands, Koninklijke Philips N.V. (Royal Philips) is a health technology company involved in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, consumer health, and home care. The company operates through four reportable segments, namely, Diagnosis & Treatment business, Connected Care business, Personal Health business, and Other. The Connected Care Informatics segment and its Population Health Management sub-segment business segment provide telehealth solutions.
Koninklijke Philips operates through 17 market organizations, which are active in more than 100 countries. The company has 35,640 employees working in 35 manufacturing sites worldwide and has established subsidiaries in over 80 countries. Some of its key subsidiaries are Philips (Jiaxing) Health and Technology Co., Ltd. (China), Philips Healthcare Informatics Limited (U.K.), VitalHealth Software Deutschland GmbH (Germany), VitalHealth Software India Private Ltd. (India).
AMD Global Telemedicine, Inc. (U.S.)
Founded in 1991 and headquartered in Massachusetts, U. S., AMD Global Telemedicine is a provider of a range of telehealth solutions such as software platforms, integrated medical devices, and telemedicine bundled kits. The company’s telehealth solutions allow healthcare organizations to provide better care to their patients through digital technology. AMD’s offerings include telehealth software, hardware, and medical devices. The company has served around 10,000 patients worldwide through its digital technologies.
AMD has a wide geographic presence in more than 100 countries. The company has formed partnerships and memberships with key organizations and associations such as the American Telemedicine Association (U.S.), International Society for Telemedicine and eHealth (Belgium), American Association of Telehealth and Telemedicine (U.S.), Center for Telehealth and e-Health Law (U.S.).
Meticulous Research in its latest publication on global Telehealth Market has predicted the growth of 21.6% during the forecast year 2022-2029
American Well Corporation (U.S.)
Founded in 2006 and headquartered in Massachusetts, U.S., American Well Corporation is a telehealth company that enables healthcare delivery for its stakeholders. The company provides a complete digital care delivery solution to enable new models of care for patients. The company operates through one reportable segment. American Well Corporation offers a complete platform for all telehealth needs, including urgent, acute, and post-acute care, chronic care management, and healthy living.
American Well Corporation has offices in the U.S. and Israel and a client in Israel. The company has more than 2000 hospitals and health system partners, while around 81,000 healthcare providers use Amwell solutions. The company aims to expand its operations in markets outside the United States.
Cisco Systems, Inc. (U.S.)
Incorporated in 1984 and headquartered in California, U.S., Cisco Systems, Inc. is engaged in selling a broad range of technologies that power the Internet. The company integrates intent-based technologies across networking, security, collaboration, applications and the cloud. Its products and technology include Infrastructure Platforms, Applications, Security and Other Products. Cisco’s customers include businesses of all sizes, public institutions, governments, and service providers. The company manages its business organized into three geographic segments, namely, Americas, Europe, the Middle East & Africa (EMEA), and Asia-Pacific, Japan, and China (APJC).
Cisco conducts its business in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Some of its subsidiaries are Cisco International Limited (U.K.), Cisco Netherlands B.V (Netherlands), Cisco Solutions GmbH (Germany), Cisco Systems (India) Private Limited (India), Cisco Systems (Italy) S.r.l. (Italy), Cisco Systems Israel Ltd (Israel), WebEx Communications Japan, K.K. (Japan), WebEx Australia Pty Ltd. (Australia), WebEx (China) Software Co., Ltd. (China).
Doctor On Demand, Inc. (U.S.)
Founded in 2012 and headquartered in California, U.S., Doctor On Demand, Inc. is a technology platform that delivers telehealth solutions. The healthcare platform provides the patient access to physicians, psychiatrists, therapists and a care team of clinical providers and coordinators via video visits, voice, and messaging. The company offers telehealth solutions for urgent care, behavioral health, preventive health, and chronic care categories. Doctor On Demand claims that patients can access coordinated, high-quality care in all 50 states, 24 hours a day, 7 days a week, on their telehealth platform.
MDlive Inc. (U.S.)
Founded in 2009, and headquartered in Florida, U.S., MDlive Inc. is a provider of virtual health care services in the U.S. The company provides telehealth solutions to more than 60 million members nationwide. MDlive’s telehealth solutions include more than 80 common medical conditions in urgent care, behavioral health, and dermatology. The company works with its health plan, health system, and self-insured employer partners to give patients virtual care services.
In April 2021, Cigna Corporation (U.S.) acquired MDlive Inc. (U.S.) through its Evernorth segment. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.
Siemens Healthineers AG (Germany)
Founded in 1847 and headquartered in Erlangen, Germany, Siemens Healthineers AG is a provider of healthcare solutions and services worldwide. The company is engaged in developing, manufacturing, and selling a wide range of innovative imaging, diagnostic and advanced therapies products and services to healthcare providers. Siemens operates in four reportable business segments, namely, Imaging, Diagnostics, Varian, and Advanced Therapies. The company provides telehealth solutions through all of these segments. Its telehealth products and services include teamplay myCare Companion, eHealth Virtual Visit, and teamplay digital health platform.
Siemens has a wide geographic presence in more than 180 countries. The company has production sites in the U.S., China, and Germany. Some of its subsidiaries are Siemens Healthineers Innovation GmbH & Co. KG (Germany), Siemens Healthcare A/S (Denmark), Siemens Healthcare AG (Switzerland), Siemens Healthcare FZ LLC (U.A.E), Siemens Healthcare Limited (U.K.), Siemens HealthCare Ltd. (Israel), Siemens Healthcare Limited (Canada), Siemens Medical Solutions USA, Inc., Siemens Healthcare K.K. (Japan), Siemens Healthineers India LLP, and Siemens Healthineers Ltd. (China).
Popular Mentions: Teladoc Health, Inc. (U.S.), Zipnosis, Inc. (U.S.), Dictum Health Inc. (U.S.), Opentelehealth ApS (Denmark), and GlobalMed (U.S.).
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Authoritative Research on the Telehealth Market – Global Opportunity Analysis and Industry Forecast (2022-2029)
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- Recent financial performance of Telehealth Market
- Key products
- Significant company strategies
- Partnerships and acquisitions
- Impact of COVID-19 on the Telehealth Market
The Telehealth Market report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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