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The U.S. telehealth market by revenue is expected to grow at a CAGR of over 28% during the period 2020-2026.
The introduction of telehealth has led to the availability of cost-effective treatment, adoption of home healthcare services, and low expenditure on infrastructure development. Telehealth is revolutionizing the healthcare industry as it minimizes hospital visits, reduces patient wait time, and decreases the physical discomfort caused to patients.
Further, in the US, the high expenditure on healthcare IT infrastructure by major stakeholders contributes to the market s growth. The telehealth market is observing increased investment for the integration of telecommunications with healthcare systems. COVID-19 further enhanced the adoption of telemedicine among physicians in the US. Every state Medicaid has some form of coverage to virtual care services and private payers.