Press Release

Telemedicine Market Size Expected to Hit USD 275 Billion Value By 2030

The Global Telemedicine Market size reached a valuation of USD 79 billion in 2023 and is expected to grow to USD 275 billion by 2030, with a projected compound annual growth rate (CAGR) of approximately 18% during the forecast period from 2024-2030, cites MarkNtel Advisors in the recent research report. Factors such as the growing elderly and underserved populations, the cost-effectiveness of telemedicine, expansion of the healthcare industry, increasing prevalence of chronic diseases, advancements in telecommunication technology, and other contributing elements are driving the expansion of the market. Telemedicine has demonstrated its efficacy in providing routine care and managing conditions that do not require physical presence, enabling seamless monitoring and coordination between patients and healthcare providers.

Global Telemedicine Market Segmentation Analysis

Tele-Radiology Holds Maximum Market Share

Based on the Application, the Tele-Radiology segment has acquired the largest share in the global telemedicine market in the previous few years. The segment growth attributed to the rise in imaging practice and the adoption of teleradiology by healthcare providers. Integration of artificial intelligence and increasing R&D activities in the eHealth sector is fueling the market growth. Further, supporting and streamlining regulations for teleradiology practice strongly contributes to driving market growth.

Asia-Pacific Exhibits Fastest Growth

The Asia-pacific market is likely to register substantial growth in the Global Telemedicine market during 2024-30 due to rapid developments in the healthcare industry and rising demand for healthcare assistance in rural areas. Innovations and improvements in the telecommunication sector are likely to enhance the further growth of the market in emerging countries such as India and China. Thereby, Asia-Pacific can strongly contribute to the Global Telemedicine market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global Telemedicine Market Analysis, 2024."

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including GE Healthcare, AMD, Aerotel, Philips, McKesson Corp, SHL, Polycom, Medtronic Plc, In Touch, Hicuity Health and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-2030?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?