The U.S. DTC telehealth services market is expected to reach USD 16.4 billion by 2025, according to a new report by Grand View Research, Inc.
The U.S. DTC telehealth services market is expected to foresee a rapid rise in the next few years. Some of the key factors supporting this industry’s growth are a rise in aged and chronically ill population that would lead to increasing geriatric telehealth services, enhancement of telecommunication technology, adoption of telehealth services due to shortage of physicians in rural areas, and rise in adoption of home care. However, maintaining the doctor-patient confidentiality caused a slight barrier to the growth of this industry. Moreover, the lack of reimbursement opportunities continues to remain an obstacle, hindering the growth of the market during the forecast period.
The U.S. DTC telehealth services market is characterized into two categories, product type and delivery mode. The product segment is further segmented into remote monitoring, real time interactions, and store and forward. The remote monitoring telehealth services are estimated to account for the largest revenue growth in 2016.The delivery mode segment is categorized into web-based, cloud-based, and on premise, of which the cloud-based delivery mode is anticipated to witness the highest growth during the period of 2016 to 2025.
Further key findings from the study suggest:
- Real time interactions in the U.S. telehealth service market are anticipated to develop rapidly in the near future. This market is expected to grow at the highest CAGR of more than 50% during the forecast period. Real time interactions like virtual consultations are deemed to be more convenient and fast, translating to increased public demand. In addition, the shortage of healthcare specialists in rural areas is likely to escalate the demand for virtual online clinics during the review period.
- The revenues from the web-based delivery mode in the U.S. telehealth service market is estimated to skyrocket in 2016. The web-based delivery mode is anticipated to grow at a healthy rate in the future. The increasing demand for mobile technologies and the internet is expected to have a high impact on public over the forecast period.
- Some of the key players in this industry include American Well Corporation, Teladoc, Inc., Specialists On Call, HealthTap, Inc., and MeMD. Almost all the key players enhanced their growth by expanding their network accessibility across most of the states in the U.S. For example, MeMD, which was founded in 2010 has managed to expand its base with around 300 healthcare providers in 50 states in the U.S.by 2015.