Latest Development (2022) in Sri Lanka Telehealth Market

Sri Lanka Telehealth Market is expected to gain momentum during the upcoming years on account of the increasing adoption of online consultation in radiology and cardiology. Increasing launch of products coupled with rising start-up funding is expected to boost the growth of the industry. Moreover, increasing penetration of telehealth due to busy work schedules is accelerating the Sri Lanka Telehealth Market Share. The increasing initiatives taken by the government along with reimbursement guidelines in order to promote the digital platforms are driving the growth of the market. The rising population in rural areas having limited access to healthcare facilities is shifting the market towards telehealth. 

Sri Lanka Telehealth Market Synopsis

Sri Lanka Telehealth market report thoroughly covers the market by Types, Components, and key regions including the northern region, western region, southern region, and eastern region. The Sri Lanka Telehealth market outlook report provides an unbiased and detailed analysis of the ongoing Sri Lanka Telehealth market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Sri Lanka Telehealth market is expected to bring in vast new opportunities for the fortunate business growth for the healthcare officials owing to an increase in the technical upgradations in the digitization and a rise in the healthcare sector. The era of technology and digitalization has led to an increase of such state-of-art platforms which not only tend to serve the betterment of the healthcare sector but also increase the convenience served concerning the remote healthcare facilities provided to the population. The main benefit reaped by the introduction of the digital healthcare platform is the geriatric population in the country. Since the old aged find it difficult to make themselves physically present at hospitals for doctor consultations and routine check-ups, the digital platform has made it all easy and convenient for the geriatric population to consult the doctor and their healthcare personnel at the personal and remote level. No doubt, the digital platform is serving the healthcare sector in many ways, the growth and development of not only the industry are evident but, the to-be investors of the market are also expected to be benefitted from the same in the next five to ten years.

According to 6Wresearch, the Sri Lanka Telehealth Market is expected to register cumulative growth throughout the forecast period 2020-2026. Rising cases of chronic diseases coupled with expensive healthcare facilities are driving the development of the market. Increasing penetration towards the launch of budget-friendly and effective healthcare is driving the Sri Lanka Telehealth market share. However, the teleconsultation and infrastructure barriers along with high-speed internet are driving the development of the market. 

The significant growth of the Sri Lanka telehealth market in the coming timeframe is expected to be witnessed on the back of an increase in digitalization in the healthcare sector. A rise in remote consultation backed by the rising prevalence of chronic diseases is anticipated to be a growth contributing factor to the progressive growth of the Sri Lanka telehealth market in the coming timeframe. The increase in the healthcare costs, a spur in the technological innovations in the healthcare sector, and efforts to find a resolution to address the accessibility issues of the healthcare sector in remote areas which have been a perennial problem in the developing economies across the world are expected to ramp up double-digit growth prospects for the Sri Lanka telehealth market in the coming timeframe and offer bountiful opportunities to the potential industrial makers of the product and the to-be-investors to register significant growth in the coming timeframe.

COVID-19 Impact on Sri Lanka Telehealth Market

The outbreak of the COVID-19 disease has led to a massive growth of the Telehealth market globally. The unprecedented disruption of the pandemic has led to a rising need for agility, transformation, and adaptability of telehealth solutions. Backed by the massive spread of the disease, as the corporate firms and even schools came down to the work-from-home solution, the healthcare sector has also adopted remote consultation as an increasingly innovative method to win the bid to combat the spread of the novel coronavirus. The spread of the virus has brought the telehealth market to a new light. The market which was at a nascent stage with limited access even in the developed countries such as Nigeria pre COVID period as a result of poor infrastructure has witnessed a spur by the effect of the virus. The outbreak has no doubt been proved evident to be a potential growth driver for the telehealth market globally backed by the reliability it is offering along with increased knowledge of the technology in the world which as a result is going to increase in the coming years, once the technology completes almost 90 percent operation remotely and is expected to shape its competitive market landscape soon. 

Market Analysis By Types

On the basis of types, mHealth is expected to register the highest growth during the upcoming years on account of the increasing penetration of public health supported by mobile devices. 

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Sri Lanka Telehealth Market Overview
• Sri Lanka Telehealth Market Outlook
• Sri Lanka Telehealth Market Forecast
• Historical Data of Sri Lanka Telehealth Market Revenues & Volume for the Period 2016-2019
• Sri Lanka Telehealth Market Size and Sri Lanka Telehealth Market Forecast of Revenues & Volume, Until 2026
• Historical Data of Sri Lanka Telehealth Market Revenues & Volume, by Types, for the Period 2016-2019
• Market Size & Forecast of Sri Lanka Telehealth Market Revenues & Volume, by Types, Until 2026
• Historical Data of Sri Lanka Telehealth Market Revenues, by Component, for the Period 2016-2019
• Market Size & Forecast of Sri Lanka Telehealth Market Revenues, by Component, Until 2026
• Historical Data of Central Region Telehealth Market Revenues, for the Period 2016-2019
• Market Size & Forecast of Central Region Telehealth Market Revenues, Until 2026
• Historical Data of Western Region Telehealth Market Revenues, for the Period 2016-2019
• Market Size & Forecast of Western Region Telehealth Market Revenues, Until 2026
• Historical Data of Southern Region Telehealth Market Revenues, for the Period 2016-2019
• Market Size & Forecast of Southern Region Telehealth Market Revenues, Until 2026
• Historical Data of Eastern Region Telehealth Market Revenues, for the Period 2016-2019
• Market Size & Forecast of Eastern Region Telehealth Market Revenues, Until 2026
• Market Drivers and Restraints
• Sri Lanka Telehealth Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Sri Lanka Telehealth Market Share, By Players
• Sri Lanka Telehealth Market Share, By Regions
• Sri Lanka Telehealth Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Sri Lanka Telehealth Market report provides a detailed analysis of the following market segments:

• By Types:

  • Tele Hospitals
  • Tele Homes
  • mHealth (Mobile Health)

• By Component:

  • Product
    • Hardware
    • Software
    • Other Types
  • Services
    • Teleradiology
    • Telecardiology
    • Teledermatology
    • Telepsychiatry
    • Other Services

Frequently Asked Questions About the Market Study: FAQs

1). Which segment based on types is expected to register the highest growth?

On the basis of types, Health is expected to register the highest growth during the upcoming years.

2). What is the impact of COVID-19 on the Sri Lanka Telehealth market?

The outbreak of the COVID-19 disease has led to a massive growth of the Telehealth market globally. The unprecedented disruption of the pandemic has led to a rising need for agility, transformation, and adaptability of telehealth solutions.

3). Which factor is bringing new opportunities to Sri Lanka Telehealth Market?

Sri Lanka Telehealth market is expected to bring in vast new opportunities for the fortunate business growth for the healthcare officials owing to an increase in the technical upgradations in the digitization and a rise in the healthcare sector.

4). What is the study period of the report?

The study period of the report is 2020-2026.