While many areas of the digital health industry are still emerging, the market for telehealth technology in the form of video consultations (TVCs) is expected to grow rapidly over the next five years. In fact, a new report from Tractica, a market intelligence firm predicts that TVC sessions will increase from 19.7 million in 2014 to 158.4 million per year by 2020.
“Telehealth video consultations lend themselves to a wide variety of medical treatments and use cases,” says principal analyst Charul Vyas. “The flexibility and efficiency of video conferencing is helping healthcare providers and payers to achieve tangible value in deploying video-based patient monitoring solutions, both in terms of positive patient outcomes and cost savings. However, the market still faces a variety of challenges, including the high initial cost of deploying services, inconsistent reimbursement models for telehealth consultations, and some continuing resistance by physicians, patients, and regulatory bodies.”
While over 75 percent of the market is constituted by clinical consultations, Tractica also predicts significant expansion to non-clinical settings, outnumbering traditional clinical consultations by 2019. TVCs; also referred to as eConsults, remote video consultations and eVisits; are also experiencing expansion in terms of use cases, deployments and adoption.
Tractica’s predictions are generated based on TVC market analysis and observations of technology issues. The report includes session and revenue forecasts from 2014 to 2020 by observing 18 key industry players.
To download a free executive summary of “Telehealth Video Consultations”, visit https://www.tractica.com/research/telehealth-video-consultations/
