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Telehealth Market to Grow by USD 368.7 Billion from 2024-2028, Driven by Rising Chronic Disease Cases, AI-Powered Market Evolution- Report by Technavio

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NEW YORK, Aug. 26, 2024 /PRNewswire-PRWeb/ — The global telehealth market  size is estimated to grow by USD 368.7 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 40.06%  during the forecast period. Increasing cases of chronic diseases is driving market growth, with a trend towards growing demand for technology. However, privacy and data security concerns  poses a challenge. Key market players include Aerotel Medical Systems Ltd., American Well Corp., Appello Careline Ltd., Cisco Systems Inc., Dictum Health Inc., Enghouse Systems Ltd., Evernorth Health Inc., General Electric Co., GlobalMedia Group LLC, Hewlett Packard Enterprise Co., Honeywell International Inc., Included Health Inc., Iris Telehealth, Koninklijke Philips N.V., Medvivo Group Ltd., Oracle Corp., Resideo Technologies Inc., Siemens AG, Teladoc Health Inc., and Tunstall Healthcare Group Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Services and Solutions), End-user (Healthcare providers, Payers, and Patients), and Geography (North America, Europe, Asia, and Rest of World (ROW))

Region Covered

North America, Europe, Asia, and Rest of World (ROW)

Key companies profiled

Aerotel Medical Systems Ltd., American Well Corp., Appello Careline Ltd., Cisco Systems Inc., Dictum Health Inc., Enghouse Systems Ltd., Evernorth Health Inc., General Electric Co., GlobalMedia Group LLC, Hewlett Packard Enterprise Co., Honeywell International Inc., Included Health Inc., Iris Telehealth, Koninklijke Philips N.V., Medvivo Group Ltd., Oracle Corp., Resideo Technologies Inc., Siemens AG, Teladoc Health Inc., and Tunstall Healthcare Group Ltd.

Key Market Trends Fueling Growth

The telehealth market is experiencing significant growth due to advancements in healthcare technology. Healthcare professionals are utilizing these technologies to deliver remote patient care of high quality. Mobile health (mHealth) is a leading technological approach in this field, driven by the expansion of wireless communications. MHealth enables healthcare providers to monitor patients’ medical conditions and communicate easily with them. For instance, researchers at New York’s Rochester Institute of Technology are developing a sensor-embedded toilet seat for monitoring heart stroke volume, blood pressure, and peripheral blood oxygenation. This technology could reduce hospital readmission rates for patients with concurrent heart failure. Artificial intelligence (AI), machine learning, and the Internet of Things (IoT) are essential tools for healthcare providers, enhancing medical decision-making and improving efficiency. The increasing adoption and integration of these analytical tools are due to their ability to provide improved patient care in less time, offer intelligent assistance for tracking and assessing healthcare data, and expand remote patient monitoring (RPM) capabilities. Vendors are focusing on enhancing their analytical tools and integrating them with telehealth solutions to offer better healthcare services. Philips, for example, provides Sentry Score, a predictive algorithm for adult intensive care units (ICUs), which predicts patient health risks using vital sign data, offering insights for earlier intervention. These factors are expected to fuel the growth of the global telehealth market. 

Telehealth market is booming with trends like Physician Telehealth and Home Telehealth leading the charge. Telecommunications and digital technology enable Virtual consultations, Remote monitoring, Teletherapy, Telepharmacy, and Telemedicine. Healthcare providers use these solutions for Cardiovascular diseases, Diabetes, Respiratory illnesses, and Musculoskeletal conditions monitoring. Vital signs are tracked via Mobile health applications and mHealth applications. Wearable devices and Health monitoring tools feed into Electronic Health Records and Remote monitoring platforms. Hospitals, Clinics, and Service providers offer cost-effective solutions with AI functionalities like Deep learning and Machine learning for personalized patient care. Healthcare systems adopt these technologies to improve patient outcomes, especially for Cancer prevalence. AI adoption in healthcare is a game-changer, with Web-based delivery mode making services accessible to all. Healthcare professionals leverage these tools to enhance patient care and streamline operations. 

Discover a Comprehensive 360° Market Analysis: Understand the Impact of AI. For detailed information- Request Sample!

Market Challenges

Telehealth has emerged as a viable solution for delivering healthcare services beyond traditional methods. Advanced technology expands the reach of healthcare, enabling better patient care. Data collection, including patient health information and clinical records, is crucial in telehealth. Patients share this data through medical devices or mobile apps for remote monitoring. Security and confidentiality are essential in telehealth, building trust between patients and healthcare providers. Regulations like HIPAA ensure the protection of medical records shared with third parties. However, unauthorized access, data theft, breaches, and hacking pose threats to telehealth, potentially hindering its growth. Adhering to regulatory guidelines and implementing robust security measures are necessary to mitigate these risks and foster market expansion.Telehealth market is growing rapidly, offering healthcare services through web-based delivery mode. Hospitals and clinics are adopting telehealth for cost-effective solutions, especially for chronic diseases management and real-time patient monitoring. Deep learning and machine learning AI functionalities enable personalization and improve patient outcomes. Service providers offer online consultation, teleradiology, and telepsychiatry in the radiology and psychiatry segments. The provider, payers, and geriatric population segments are key markets. Hardware and software integrated systems facilitate group and individual purchase of telehealth services. Challenges include AI adoption, digital health integration, and regulatory compliance. Radiology, cardiology, behavioral health, pathology, neurology, dermatology, surgery, gynecology, orthopedics, ophthalmology, and hospital telehealth segments are expanding. Cost savings, improved access, and better patient care drive the market growth.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This telehealth market report extensively covers market segmentation by

Product 1.1 Services1.2 SolutionsEnd-user 2.1 Healthcare providers2.2 Payers2.3 PatientsGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 Services-  Telehealth market refers to the use of digital information and communication technologies to provide and receive healthcare services remotely. This includes virtual consultations, remote monitoring, and telepharmacy. The market has grown significantly due to the convenience it offers to patients and the ability to reduce healthcare costs. Telehealth solutions enable remote diagnosis and treatment, improving access to healthcare services, especially in rural areas. Companies like Teladoc, American Well, and MDLive are leading players in this market. Telehealth adoption is increasing as more insurers cover these services, making it an attractive business opportunity.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Telehealth market is revolutionizing healthcare services by offering cost-effective solutions through advanced technologies such as deep learning and machine learning. AI functionalities enable personalized care, making it an ideal choice for hospitals, clinics, radiology, cardiology, behavioral health, and various specialties. Telehealth encompasses online consultation, patient monitoring, and real-time communication, allowing remote healthcare solutions for chronic diseases management. Hardware and telecommunication or software-based systems are integral to this industry, with integrated systems offering cloud-based delivery mode and on-premise options. Group purchase and individual purchase models cater to diverse clientele needs, making telehealth an essential component of modern healthcare, transforming general consultation and specialist services alike.

Market Research Overview

The Telehealth market encompasses a range of healthcare services delivered via digital technology, including radiology, psychiatry, cardiology, behavioral health, and more. It offers cost-effective solutions for hospitals, clinics, and service providers, enabling real-time and store-and-forward consultations. Deep learning and machine learning AI functionalities enable personalization and improved patient outcomes, particularly for chronic diseases such as cancer, cardiovascular diseases, diabetes, and respiratory illnesses. The market includes hardware, software, and integrated systems for online consultation, patient monitoring, and remote patient monitoring. Telehealth caters to various segments, including providers, payers, and the geriatric population, and encompasses digital health, mHealth applications, and telecommunications. It includes teleradiology, teletherapy, telepharmacy, and telemedicine services for general consultation, pathology, neurology, dermatology, surgery, gynecology, orthopedics, ophthalmology, and more. The market is driven by the adoption of digital technology, virtual consultations, and remote monitoring, with a focus on improving patient care and reducing healthcare costs.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductServicesSolutionsEnd-userHealthcare ProvidersPayersPatientsGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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3 Easy Ways to Save on Payroll Software in 2025

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New survey results from Halfpricesoft reveals key tricks businesses across America have been using to maximize efficiency.

REDMOND, Wash. , Jan. 7, 2025 /PRNewswire/ — With inflation, “shrinkflation,” and corporate price hikes since the pandemic, small businesses are being squeezed by big tech companies into ever-smaller margins. Large coastal tech providers continue raising prices on even the most basic payroll software features, leaving small businesses and bookkeepers to foot the bill.

 

Business experts at Halfpricesoft have spent thousands of hours talking with small businesses from Iowa to Idaho to learn how they are surviving these unprecedented times. From cutting overhead costs to running more effective acquisition campaigns, they found that one of the biggest unnecessary expenses is overpaying for tech products—particularly payroll software. Business owners and accountants shared stories of per-employee fees exceeding $10 and steep charges for adding new companies.

Fixed Price for Employees

The fastest way to save money on payroll is to pick software with a fixed price rather than per-employee charges. Many major providers charge double digits per additional employee, which quickly drives up costs. Instead, choose solutions that offer a fixed rate, regardless of the number of employees.

ezPaycheck, an unlimited-employee payroll solution from Halfpricesoft, does exactly that. With unlimited employees and unlimited checks, bookkeepers, CPAs, and business owners have saved as much as 90% by switching from larger competitors. By focusing on fewer (but essential) features and streamlining development, ezPaycheck has been sold and supported continuously since 2005.

https://www.halfpricesoft.com/index.asp

Accurate, Updated Tax Withholding

One of the most common (and costly) mistakes businesses make is using payroll software that overestimates withholding. When employers send excess funds to the IRS and state governments on behalf of employees, it ties up capital that could otherwise be reinvested into the business.

The key to scaling a  small business or CPA firm is efficient capital allocation, making any significant overpayment of taxes a major liability. Some payroll software, to avoid underpayment, will drastically overcalculate withholdings or fail to handle state tax rates correctly.

Halfpricesoft takes pride in ezPaycheck’s accuracy and rapid updates. Whenever new tax laws or rate changes are announced, ezPaycheck and ezAccounting are updated promptly—often faster than many other solutions on the market. This commitment to accuracy and ease of use explains why ezPaycheck boasts one of the highest customer retention rates in the industry.

Quick Technical Support

Small businesses are often overlooked by larger companies, even when paying thousands of dollars in annual fees. When payroll errors or calculation issues arise, major providers tend to prioritize their biggest clients, leaving smaller businesses with delayed or inadequate support. This oversight can lead to tax penalties and costly mistakes.

ezPaycheck stands out in the payroll market for its fast, attentive support—especially when W-2 and 1099-MISC forms are due at the end of January. During these peak periods, support hours extend to over 12 hours a day, ensuring quick response times. From remote desktop troubleshooting to detailed phone consultations, Halfpricesoft focuses on customer success as one of its guiding principles. Only when small-business partners succeed can a payroll company truly grow.

Conclusion

With a 30 day free trial  and only $169 for an annual license, businesses owners and CPAs are encouraged to try ezPaycheck. With after the fact checks, 941 e-filing, check printing, and misc checks, ezPaycheck is the best payroll software for small businesses who want to scale affordably.

https://www.halfpricesoft.com/index.asp

Halfpricesoft.com is a leading provider of small to mid-size business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software,1095 form software and ezACH direct deposit software. Software from halfpricesoft.com is trusted by customers for over 20 years and will allow US business owners to simplify payroll processing and streamline business management.

 

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SOURCE Halfpricesoft.com

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Siemens launches new program to empower startups with cutting-edge technology

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Siemens for Startups program to streamline the collaboration process and facilitate partnerships with new innovative companiesSiemens to collaborate with Amazon Web Services (AWS) to deliver access to Siemens Xcelerator ecosystem and accelerate innovation at startups

MUNICH, Jan. 7, 2025 /PRNewswire/ — Siemens today launched Siemens for Startups, a new program to empower early-stage engineering and manufacturing startups. Announced at CES 2025 in Las Vegas, the program will enable new innovative companies to accelerate innovation, streamline development processes and scale faster by providing venture-related services, while reducing the cost of access to Siemens software and hardware.

“Startups are essential to making our customers more competitive, sustainable and resilient. By collaborating with startups, Siemens helps bring breakthrough ideas to industries faster, empowering customers to address global challenges more effectively with cutting-edge technologies, tools and solutions,” said Peter Koerte, Member of the Managing Board of Siemens AG, Chief Technology Officer and Chief Strategy Officer. 

The Siemens for Startups program has three pillars:

Connect 
The new program will help onboard startup companies to the Siemens Xcelerator marketplace, thus providing access to a global go-to-market channel and the Siemens Xcelerator ecosystem.Collaborate 
As an early customer and co-developer, Siemens will collaborate with leading startups through venture clienting. This approach will give Siemens access to cutting-edge capabilities and services and provide startups with the early revenue needed for growth.Empower
Solutions from the “Siemens for Startups” program will provide startups – whether focused on product development or on software development – with packaged access to essential software tools from Siemens Xcelerator.

Partnership with AWS

As part of its ongoing strategic collaboration with AWS, Siemens will link the “Siemens for Startups” program with AWS’s Startup program to accelerate innovation, streamline development processes and enable startups to scale faster. The collaboration underscores both companies’ commitment to fostering entrepreneurship and driving digital transformation in the industrial sector.

“Collaborating with Siemens allows us to extend the capabilities of our AWS Startup program to a new generation of innovators in the engineering and manufacturing space,” said Jon Jones, Vice President and Global Head Startups at AWS. “By providing startups with advanced software, generative AI and cloud services, AWS and Siemens are enabling them to bring their ideas to life more quickly and boost entire industries with cutting-edge solutions.”

Integrating Siemens’ comprehensive suite of industrial software – including design, simulation and manufacturing solutions from the Siemens Xcelerator portfolio – into AWS’s scalable cloud infrastructure and startup program will enable startups to access the tools and resources they need to seize market opportunities. For technical and go-to-market support, qualifying startups will receive AWS credits, business development resources and access to the AWS Activate program.

Showcasing startups

At CES 2025, Siemens highlighted the following startup companies that are collaborating with Siemens’ teams and technology to scale operations.

Arkisys is building one of the first business platforms in space for new technology hosting, satellite integration, assembly and resupply. The Arkisys Port supports scalable rapid prototyping, new payload and technology testing, the assembly and integration of new free-flying space platforms and destinations for orbital transfer vehicles, and on-orbit assembly and manufacturing.Dirac, a Siemens Technology Partner, is a leader in automated manufacturing workflow software, revolutionizing American manufacturing with innovative solutions that bridge the gap between design and production. Its flagship product, BuildOS, is the first automated work instruction platform, using physics-based simulations and manufacturing best practices to automatically generate animated, interactive, 3D assembly-ready work instructions directly from CAD models. BuildOS enables companies to seamlessly transition from design to production while retaining critical tacit knowledge, aggregating and contextualizing it within the design process. As a Technology Partner working alongside Siemens, Dirac has been able to drive enormous value across the Automotive and Aerospace & Defense industries.EthonAI is developing the EthonAI Manufacturing Analytics System (MAS), a powerful software suite designed to achieve operational excellence at scale. The MAS creates a common context across disparate factory data sources, analyzes data using the latest AI techniques, and makes the results accessible through a suite of interoperating applications. The applications within the MAS are specifically tailored to improve operational KPIs such as quality, throughput, uptime, costs and sustainability. Customers using EthonAI have achieved waste reductions of over 50 percent.Haddy is revolutionizing furniture manufacturing with advanced 3D printing and robotics, producing high-quality, sustainable products at a low cost and on a commercial scale. Haddy is building a global network of local micro-factories equipped with hybrid Flexbot systems from CEAD and recycling units that shorten the supply chain and help the environment by reducing waste.Instrumental technology automates failure discovery and root cause analysis in electronics manufacturing — accelerating new product development and improving yield in production. Easy-to-use workflows enable engineers to do failure analysis 100x faster.Tended uses geospatial data and wearable technology to transform the safety of high-risk work environments. The solution provides organizations with enhanced visibility over onsite operations to quickly identify and correct unsafe actions. A high degree of accuracy helps to ensure people, plant and equipment are in the right place at the right time, helping to prevent near misses and accidents.

More information about Siemens for Startups is available at www.siemens.com/startups

This press release is available at:
https://sie.ag/2vXqqh

Follow us at www.x.com/siemens_press

Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably. 

In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

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Tech Mahindra Tops India and Achieves Second Place Globally in the S&P Dow Jones Sustainability Indices 2024 for TSV IT Services Segment

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PUNE, India and NEW YORK, Jan. 7, 2025 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, has announced its recognition as a global sustainability leader by S&P Dow Jones Sustainability Indices (DJSI) 2024, one of the world’s most renowned indices for ESG (Environmental, Social & Governance). DJSI has ranked Tech Mahindra as 1st in India and 2nd globally, with an impressive score of 88 and 100 percentile in the ‘TSV IT services’ segment, highlighting the organization’s unwavering commitment to advancing sustainability across its businesses globally.

The TSV IT services segment comprises three divisions: data processing and outsourced services, internet services and infrastructure, and IT consulting & other services. The announcement follows the recent results of the annual Dow Jones Sustainability Indices rebalancing and reconstitution, marking Tech Mahindra’s inclusion in the DJSI World Index and DJSI Emerging Markets for the tenth consecutive year. The DJSI World Index represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (BMI) based on long-term economic, environmental, and social criteria.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “In a rapidly changing world, organizations must commit to sustainability and resilience, ensuring our actions today pave the way for a better tomorrow. Tech Mahindra is proud to celebrate its inclusion in the prestigious Dow Jones Sustainability Indices for the 10th consecutive year. This sustainability milestone is a testament to our commitment to a greener future and reflects our unwavering commitment to environmental responsibility, social impact, and ethical practices.”

Tech Mahindra’s sustainability initiatives are committed to creating a positive environmental impact and achieving ambitious targets, including Net Zero by 2035, Carbon Neutrality by 2030, and attaining 90% renewable energy sourcing by 2030. The organization also aims to become water-positive by 2030 and ensure 100% Zero Waste to Landfill certification across all owned facilities.

Through the implementation of an internal carbon pricing mechanism, Tech Mahindra drives strategic investments in renewable energy, green buildings, and energy-efficient technologies. This reinforces Tech Mahindra’s position as a global leader in sustainability, committed to creating lasting value for its stakeholders and the planet.

For more information on the Dow Jones Sustainability World Indices components, click here.

For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit https://www.techmahindra.com/

Tech Mahindra’s Social Media Channels: Facebook, X, LinkedIn and YouTube

Logo: https://mma.prnewswire.com/media/2539364/Tech_Mahindra_Logo.jpg

 

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