Cyber Threat Might Hinder the Growth of the Telehealth

Publisher: The Insight Partners

The global telehealth market is witnessing a sheer rise in the current scenario and is expected to expand in the coming years. The current telecommunication and electronic technologies involves the utilization of (information and communications technology) ICT solutions such as medical monitoring and mobile health applications. However, the lack of experience and increasing cyber threat expected to hinder the growth of the global telehealth market.

The telehealth solutions provide health care services in the rural areas and delivers public healthcare via ICT manner to accessible the diagnosis, consultation, treatment, education, care management, and self-management of a patient's health. The telehealth services provide solutions to the user who is at distant site from the health care provider.

The players operating in the market for teleheatlh across the globe include, Medtronic, Cerner Corporation, Tunstall Healthcare, AMD Global Telemedicine, Inc., Philips Healthcare, Cisco Systems, Inc., Aerotel Medical Systems Ltd., Honeywell Life Care Solutions, Medvivo Group Ltd., American Well among others. Many other companies are providing services for telehealth market owing to the potential improvements related to accuracy and operational efficiency.

Telehealth market is significantly growing due to increasing demand for telehealth solutions and services across the globe. It is not a specific service, but it encompasses a broad variety of technologies and tactics that helps to enhance the health care, public health, education delivery and support using ICT technologies. However, the few factors such as increasing cyber threat & rise in data security and tricky policies and reimbursement rules are hamper the growth of the market. The heath data that runs on ICT systems are becoming more susceptible to cyber-attacks. The rising security breaches in healthcare are quickly becoming conventional across the globe. The health data includes detailed information about identity data and financial data like credit card information of a user. The reasons of cyber threat include multiple uses of the data including medical fraud and identity theft. Thus, the rising number of cyber threats proportionally boost the health data security that restrict the growth of the Telehealth market.

The telehealth market is segmented on the basis of product, type, mode of delivery and end user. Based on product, global telehealth market is segmented into integrated and standalone. On the basis of the type segment the market is classified as hardware, services, and software. By mode of delivery the market is classified as on-premise delivery mode, web-based delivery mode, and cloud-based delivery mode. Based on end user the market is segmented into patients, payers, and healthcare providers. Geographically, the market for telehealth is segmented into North America, Europe, Asia Pacific (APC), Middle East and Africa (MEA) and South and Central America (S&CAM).

Furthermore, North America telehealth market comprises of combined markets for the US, Canada, and Mexico. In the recent years, all the three countries are witnessing a progressive change in the telehealth market. This region has largest market share of the global telehealth market, by geography. Factors such as increasing focus of market players in the US and Canada, funds by the government in US and increasing demand for telehealth solutions in Mexico is likely to boost the growth of telehealth market in North America.

The telehealth market is estimated to grow at a CAGR of 15.7% during the forecast period from 2018 to 2025. The market for telehealth is estimated to reach US$ 52,897.2 Mn in 2025.