The UK telehealth market is anticipated to rise at a double-digit of 10.4% CAGR during the forecast period due to the growing aging population and increasing healthcare costs primarily.
Telehealth is the delivery of healthcare services such as health evaluations using telecommunications infrastructure from remote locations.
The increasing need to monitor patients and treat them for chronic illnesses from remote locations propels the telehealth market in the United Kingdom. Also, technological advancements within telecommunications and evolving wireless self-monitoring healthcare devices are expected to drive the market. In addition, the proliferation of chronic diseases and the rising geriatric population in the United Kingdom drives the market growth. Furthermore, in the recent past, due to the sudden emergence of the covid-19 pandemic, the demand for telehealth has rapidly increased.
Additionally, increasing awareness among the people in the country about digital health and growing acceptance is most likely to increase the market revenue. As the NHS struggles to keep up with expanding demand, the telehealth Services industry in the UK is projected to profit from changing demographics and structural problems influencing the healthcare system, including an aging population, staffing constraints, and resource limitations. People will also be able to seek health information and assistance online through various NHS-approved applications, reinforced by face-to-face treatment when necessary. On the other hand, the proliferation of cardiovascular disease, home monitoring for the treatment, and reducing the cost of chronic therapies are projected to propel market growth.
Furthermore, factors that drive the UK telehealth market are the rise in the number of cancer patients. An investment made by the government and the proper quality service available for ordinary people, having more health knowledge also propels the market. Increasing focus on the construction of healthcare centers with the trending equipment that promotes market growth. The rise in the commonness of chronic diseases and the continuous flow of investments from both the public and private sectors will drive the regional market. An increase inspired the growth of the UK market in the particular importance of healthcare information technology (HIT) within the area.
The rise in 4G and 5G technology and the increasing acceptance of telemedicine in the UK will offer an opportunity for the market players.
The extent success rate in decreasing outpatient attendance and concerns associated with medical data security are the factors that hamper the market growth in the UK. The challenges that the UK telemedicine market faces is less adoption rate, lack of support from a physician, lack of ability to be maintained at a certain level of business models, secured data and availability of less information, access to patient long term medical record, and occurrence of data at the same time with NHS.
This research report on the UK telehealth market has been segmented based on component, delivery, end-users, and country:
By End Users:
Geographically, the UK telehealth market is highly focused along with numerous key market participants. As a result, the UK is anticipated to account for a significant share in the global telehealth market during the forecast period. Rising healthcare infrastructure and increasing burden on chronic diseases, growing focus on developing healthcare centers with the most up-to-date equipment, and the digitalization of healthcare are expected to boost the market’s growth rate.
Other factors such as the growing geriatric population and increasing spending on public healthcare by the government are most likely to uplift the market growth. Furthermore, during the COVID-19 pandemic, telehealth has emerged as a critical component of healthcare in the United Kingdom, and the people have significantly accepted it. As a result, the market has registered for significant growth and is most likely to witness rapid growth over the forecast period. On the other hand, High literacy rates and an improved socioeconomic condition, an aging population, and a considerable increase in chronic illness patients are further estimated to accelerate the growth of the UK telehealth market during the forecast period.
KEY MARKET PLAYERS:
Care Innovation, Doro Care, Living safely, TeleHealth Solutions, Appello, Tec Angel, Tunstall, and Tynetec are a few of the leading companies in the UK telehealth market.
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