Even though the COVID-19 pandemic has disrupted several economies, it has given a much-needed boost to some unorthodox businesses. Telehealth is one of them. While there was a limited usage of telehealth before the pandemic, Canada has seen a notable acceleration in that space in the last couple of months.
What is telehealth?
Telehealth is an emerging trend that distributes healthcare beyond the hospitals’ walls, with the help of video chats or teleconferences. The technological infrastructure will lower the overall medical treatment cost, and one can get it anywhere, anytime. According to Markets and Markets’s research, the telehealth market is expected to grow to US$55.6 billion by 2025 — a staggering growth rate of approximately 17% compounded annually.
No wonder large investors have attracted to this emerging health care space. Loblaw, the country’s largest food and pharma retailer, recently invested $75 million in a telehealth company — Maple. Maple offers online consultations with the help of a mobile or a computer app. Under the deal, Maple will provide virtual care to Loblaw’s Shoppers Drug Mart customers…CLICK for complete article