Companies part of the digital health industry gained significant momentum in 2020 as the COVID-19 pandemic acted as a massive tailwind. Several countries imposed lockdowns and travel came to a standstill. As clinics were closed, the demand for digital health solutions accelerated quickly.
According to a report from Grand View Research, the global telehealth market is forecast to reach $787.4 billion, indicating annual growth rates of 36.5% in the forecast period. A rapidly expanding addressable market allows companies such as MedAvail (MDVL) to grow revenue at a robust pace over a period of time.
