Telehealth firms continue to report revenue growth, net losses in Q1
Telehealth firms continue to report revenue growth, net losses in Q1
Modern Healthcare Illustration / Getty Images
Telehealth companies continued to see revenue gains in 2021 s first quarter as they prepare their business for a world not dominated by the COVID-19 crisis.
Amwell posted $57.6 million in revenue for the quarter, up 7.2% from the year-ago period, while Teladoc Health, a market leader in the telehealth space, continued to see sizeable growth with $453.7 million in quarterly revenue, up 150.9% year-over-year. SOC Telemed, which focuses on the acute-care sector, posted $14.8 million, up 0.1%.
The three companies, all of which reported net losses, are working to differentiate themselves in a crowded market in part by convincing investors they can be a single vendor for all or many of their customers virtual care needs.
Nearly 30% Market Value Share Slated for Asia Pacific
Asia Pacific is expected to account for approximately 30% share of the global telemedicine market by 2025, which is primarily driven by a reduction in the cost of primary care and improvement in the delivery of quality healthcare to the last mile in China and India. Increasing Y-o-Y (%) growth in GDP (at constant prices), coupled with growing urbanization in certain countries, such as China, India, and Indonesia, is expected to boost the spending on public infrastructure, and, in turn, boost the telemedicine market.
The adoption of digital services offers better connectivity and collaboration, which increases accessibility to information and services. This is also expected to spur the Asia Pacific telemedicine market over the forecast period.
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Teladoc Health Inc
We think the company-which provides a full spectrum of virtual healthcare services through a single access point-is well positioned for the future of healthcare delivery. The company has seen strong growth in subscription membership and telehealth visits during the pandemic as social distancing mandates have demonstrated the value and convenience of telemedicine. We have a favorable view of the company s planned merger with Livongo. The Livongo assets will also help the company to diversify beyond telemedicine and expand both domestically and overseas.
Telepresence Robots Market 2021-2026: Report, Share, Size, Trends, Forecast and Analysis of Key Players
iCrowd Newswire
04 May 2021, 15:08 GMT+10
According to IMARC Group s latest report, titled Telepresence Robots Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026, the market to exhibit a CAGR of around 12% during 2021-2026. A telepresence robot enables video conferencing through a computer, tablet, or smartphone, facilitating a virtual presence. The robot includes a wheel-mounted stand, arm unit, video camera, display screen, and other multimedia devices for virtual communication. It is majorly used where users can maneuver the robot remotely and interact through an inbuilt smartphone or tablet application. As a result, it is widely applicable across various industries, including corporate, education, healthcare, homecare, etc.