According to the latest industry projections published ahead of the weekend and shared with mHealthWatch, the global telehealth market is growing at a stead and impressive rate.
The worldwide telehealth market is now forecast to be worth $6.5 billion by 2020 with an estimated CAGR of 24.2% from a value of $2.2 billion in 2015.
Not surprisingly, industry watchers are now calling for the healthcare industry to undergo “a fundamental transformation of value based business from volume based business.”
According to the report summary from Market Reports Hub:
The major factors driving the growth of telehealth market across the globe are rise in the aging and chronically ill population, the shortage of physicians in the U.S., uneven physician distribution worldwide, improvement in telecommunication infrastructure, technological advancements, rising healthcare costs, and awareness on the benefits of tele-health. However, certain barriers, such as limited reimbursement in the U.S. and legality, privacy, and security concerns worldwide, are restraining the growth of this market.
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