Posted On: 2021-08-11
The telehospitals segment acquired the largest revenue share in the telehealth market in Australia – 6Wresearch
Australia telehealth market witnessed a significant growth during the period 2017-2020 underpinned by government initiatives to promote telehealth in Australia. Moreover, the outbreak of COVID-19 pandemic acted as a boon for the telehealth market owing to the social distancing norms which accelerated the use of telehealth services as the people were reluctant to visit hospitals for checkups due to virus scare. Furthermore, the stringent lockdown imposed across the country forced the people to stay at home and step out only, if necessary, which pushed them to use self-monitoring devices for their routine checkups and video consultations from telehealth services for consulting doctors.
According to 6Wresearch, Australia Telehealth Market is projected to grow at a CAGR of 0.7% during 2021-27. Australian health minister announced to accept the temporary digital health policy changes brought during Covid-19 as permanent, which would lead to growth in telehealth market during near future. Further, Australia telehealth market is less mature than U.S., therefore foreign healthcare companies are seeing Australia as an ideal investment location for developing and trialling medical solutions due to its vast distance, remote settlements, and multicultural society due to which telehealth market would further boost.
Services segment led the Australian telehealth market in 2020 on account of the increasing number of doctors and hospitals joining the telehealth industry for providing healthcare services to the patients remotely and the increased emphasis on patient monitoring for elderly people and covid-19 patients. This trend is anticipated to persist during the forecast period as well owing to increasing adoption of virtual consultations, time convenience, booming internet penetration and companies coming up with innovative ideas for providing better services to the patients remotely.
According to Rahul Dubey, Research Associate, 6Wresearch, “The tele hospitals segment accounted for largest revenue share in Australia telehealth market revenues in 2020 as major hospitals had started virtual consultations under the digitization model of the Australian government especially during the critical times of covid-19 when social distancing is a must.”
According to Monis Raees, Research Associate, 6Wresearch, “Integrated software held the majority market share in the Australia telehealth software market in recent years owing to its diversified functionalities as compared to standalone software. Integrated software has given an edge to the service providers in providing multiple services through a single platform.”
“Australia Telehealth Market (2021-2027F)” report provides an in-depth analysis with 26 figures and 6 tables, covered in 84 pages. The report estimates and forecast the Australia telehealth market by type, components and products. The report provides an unbiased and detailed analysis of the on-going 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.