The increasing need to reduce health care costs is expected to drive the growth of the telehealth market. Because of the rising prevalence of chronic diseases and the aging population, healthcare costs are rising dramatically. This has boosted the demand for technology-driven platforms that, on the one hand, can provide high-quality healthcare while also lowering costs. Telehealth is quickly being implemented in all healthcare settings because it successfully meets these needs.
Telehealth is becoming more popular among the urban population as a result of its convenience. In addition, the recent COVID-19 outbreak has boosted the number of patients seeking telemedicine consultations. All of these factors are contributing to the growth of the telehealth market.
Favorable government initiatives are expected to drive the telehealth market. Telehealth has proven to be effective in reducing distance barriers and ensuring healthcare delivery in rural areas. The majority of the population, particularly in developing countries, lives in rural areas with limited access to high-quality healthcare. As a result, several governments are now focusing on providing healthcare services in remote areas via virtual care platforms. This in turn is expected to provide a lucrative growth opportunity for the growth of the telehealth market during the forecast period.