Market Research Report

Global Telemedicine Market Research Report: Forecast (2024-2030)

By Component (Hardware, [Monitors, Medical Peripheral Devices (Digital ECG, Digital Stethoscope)], Software, [Integrated Software, Standalone Software]), By Service (Tele-training,...Tele-consultation, Tele- Surgery, Tele-monitoring, Asynchronous (Store-and-Forward)), By Application (Tele-radiology, Tele-Psychiatry, Tele-Cardiology, Tele-Dermatology, Tele-Neurology, Tele-Pathology, Emergency Care, Others (Tele-Nephrology, Tele-Obstetrics, etc.)), By End User (Hospitals, Home Care, Clinics & Specialty Centers, Others (Medical Labs, etc.)), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (GE Healthcare, AMD, Aerotel, Philips, McKesson Corp, SHL, Polycom, InTouch, Medtronic and others) Read more

  • Healthcare
  • Nov 2023
  • 222
  • PDF, Excel, PPT

Market Definition

Telemedicine is a healthcare delivery method that involves the usage of technology, primarily telecommunications, to provide remote medical services & consultations. It enables patients to access medical care, receive diagnoses, consult with healthcare providers, and even receive treatment without the need for in-person visits to a medical facility.

Market Insights & Analysis: Global Telemedicine Market (2024-30):

The Global Telemedicine Market size is valued at USD 79 billion in 2023 and is estimated to grow at a CAGR of about 18% during the forecast period, i.e., 2024-30. The increasing geriatric and medically underserved populations, the cost-effective nature of telemedicine, the expansion of the healthcare sector, the rising prevalence of chronic diseases, advances in telecommunication technology, and other contributing factors are aiding in enhancing the market size. Telemedicine has proven its value in offering routine care and managing conditions where physical presence is unnecessary, facilitating seamless monitoring and coordination between patients and healthcare providers.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 18%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, UK, France, Italy, Spain, The Netherland, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa:  UAE, Saudi Arabia, Oman, Bahrain, Qatar, Kuwait, South Africa, Rest of the Middle East & Africa
Key Companies Profiled GE Healthcare, AMD, Aerotel, Philips, McKesson Corp, SHL, Polycom, InTouch, Medtronic, and others
Market Value (2023) USD 79 Billion

 

Moreover, the cost-efficiency of telemedicine has emerged as a compelling factor in the growing adoption of virtual healthcare services, a trend supported by several key market dynamics. For patients, telemedicine eliminates various costs associated with traditional in-person healthcare visits, such as transportation expenses, parking fees, and potential time off work.

Additionally, telemedicine leads to cost savings for healthcare providers and institutions. By reducing the need for physical infrastructure, such as additional waiting rooms or office space, healthcare organizations can optimize resource allocation. This includes potential savings on administrative costs, as digital health records and streamlined scheduling systems lead to more efficient operations. These offerings and the accessibility of telemedicine are driving the demand and expanding the market growth.


Global Telemedicine Market Research Report: Forecast (2024-2030)

Furthermore, telemedicine providers and healthcare systems have recognized the importance of catering to consumer demand for convenient, on-demand services. They have invested in improving user-friendly platforms and ensuring a seamless patient experience. As a result, the growing consumer demand for telemedicine is expected to remain a driving force behind the continued expansion of the Telemedicine Market, making healthcare services more accessible & patient-centered than ever before.

Global Telemedicine Market Driver:

Rising Demand for Telemedicine in Chronic Disease Management – The management of chronic diseases is a critical healthcare challenge as the global prevalence of conditions like diabetes, hypertension, and heart disease continues to rise. Telemedicine plays a pivotal role in addressing this issue, and a brief market analysis underscores its impact. Telemedicine enables continuous monitoring of chronic conditions through the usage of remote patient monitoring devices and digital health platforms. This allows healthcare providers to track patients' vital signs, medication adherence, and lifestyle behaviors in real time.

As a result, patients receive timely interventions, reducing the risk of complications and hospital readmissions. This improves patient outcomes and lowers healthcare costs by reducing the burden of emergency care. Furthermore, the convenience and accessibility of telemedicine facilitate better patient engagement in their care. Due to this, the demand for telemedicine among patients with chronic conditions has been increasing in the market.

Global Telemedicine Market Opportunity:

Blockchain Unlocking Security & Growth Potential in Telemedicine – The integration of blockchain technology within the healthcare industry holds significant promise for telemedicine service providers, with various stakeholders, including governments, tech experts, and entrepreneurs, recognizing the potential to enhance security within the market. Telemedicine offers convenience to patients. However, it also raises valid security concerns regarding data breaches.

Blockchain technology addresses these concerns by enabling secure & immutable transactions across networks, facilitating trusted interactions between parties. This distributed ledger technology provides a more efficient means of transferring data and fostering communication between healthcare organizations.

Consequently, blockchain providers are actively establishing private networks with direct patient involvement to ensure secure patient data exchange. As a result, market players are proactively embracing blockchain in telemedicine, which is poised to create an opportunistic arena for the Telemedicine Market in the coming years.

Global Telemedicine Market Trend:

AI Integration in Telemedicine Catalyst for Market Growth – The incorporation of Artificial Intelligence (AI) into telemedicine services is a prominent and growing trend in the Telemedicine Market. This trend is primarily driven by the desire for more efficient & precise patient access, allocation, diagnostics, risk coding, claims processing, supply chain management, and predictive modeling. On the patient side, AI has the potential to enhance individuals' access to & management of their healthcare treatment.

Consequently, there has been a notable surge in demand for telemedicine consultations in the market. In response to this increasing demand for AI integration in telemedicine, numerous companies are investing in partnerships and collaborations with technology firms to incorporate AI into their services. For instance,

  • In 2023, Teladoc extended its partnership with Microsoft to introduce AI and voice technology into telemedicine visits and implement ambient clinical documentation technology within its Solo virtual care platform.

These advancements in the market, where technology is integrated into telemedicine consultations, are expected to bolster market growth and drive demand in the years to come.

Global Telemedicine Market (2024-30): Segmentation Analysis

The Global Telemedicine Market study by MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the global level. In accordance to the analysis, the market has been further classified as:

Based on Service:

  • Tele-training
  • Tele-consultation
  • Tele-monitoring
  • Tele-surgery

Tele-monitoring acquired the largest share in the Global Telemedicine Market in the previous few years due to the rising prevalence of chronic diseases and the growing geriatric population requiring home assistance. Further, the utilization of tele-monitoring by healthcare providers to manage patients' health leads to a reduction in the readmission rate. Thus, this contributes to propel the overall growth of the market.

Based on End User:

  • Hospitals
  • Homecare
  • Clinics & Specialty Centers
  • Others (Medical Labs, etc.)

Homecare providers have experienced a surge in demand for telemedicine services. This is primarily due to the seamless alignment of telemedicine with a growing preference for home-based healthcare solutions, particularly among elderly and chronically ill patients who benefit from the convenience and safety of receiving care in their own homes.

Telemedicine enables remote monitoring of patients, timely interventions, and continuity of care, which is essential for managing chronic conditions and post-acute care. Homecare agencies are increasingly integrating telemedicine solutions to optimize their services, reduce readmission rates, and improve patient outcomes, thus contributing to infusing the market expansion.

Global Telemedicine Market (2024-30): Regional Projection

Geographically, the Global Telemedicine Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

North America has held the largest share of the Global Telemedicine Market in 2022 and is likely to retain its dominance during the forecast period due to rising awareness among consumers regarding developments in the healthcare sector and the acceptance of cloud-based technologies. Moreover, rapid adoption of the latest technologies, increasing prevalence of chronic diseases among individuals, and mounting R&D initiatives are a few other factors contributing to the North America Telemedicine Market expansion.

Global Telemedicine Industry Recent Development:

  • 2023: GE Healthcare announced a partnership with Medanta Group of Hospitals, to offer a 24/7 remote and virtual service for patients in the ICU.
  • 2023: AMD announced a strategic partnership with Collain Healthcare, to seamlessly integrate technology for reducing the burden on clinical staff and optimizing patient care.

Gain a Competitive Edge with Our Global Telemedicine Market Report

  • Global Telemedicine Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Telemedicine Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Telemedicine Market is expected to grow at a compound annual growth rate (CAGR) of around 18% from 2024 to 2030.

   A. The Telemedicine market size was estimated at about USD 79 billion in 2023.

   A. The rising demand for telemedicine in chronic diseases is expected to drive the Telemedicine Market during 2024-30.

   A. The top players in the Telemedicine Market are GE Healthcare, AMD, Aerotel, Philips, McKesson Corp, SHL, Polycom, InTouch, Medtronic, and others.

   A. Homecare held the largest share Telemedicine Market.

   A. North America would present growth prospects in the Telemedicine Market during 2024-30.

   A. The integration of AI is the key trend shaping the growth of the Telemedicine Market.

   A. The usage of blockchain technology in telemedicine is the growth opportunity driving the Telemedicine Market.

Global Telemedicine Market Research Report (2024-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Telemedicine Market Trends & Developments
  5. Global Telemedicine Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Telemedicine Market, Startup, Investment, and Ecosystem
    1. Entrepreneurial Activity
    2. Year on Year Funding Received
    3. Funding Received by Top Companies
    4. Key Investors Active in the Market
    5. Series Wise Funding Received
      1. Seed Funding
      2. Angel Investing
      3. Venture Capitalists (VC) Funding
      4. Others
  7. Global Telemedicine Market Regulations, Policies, and Standards
  8. Global Telemedicine Hotspot & Opportunities
  9. Global Telemedicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Size & Analysis
      1. By Component
        1. Hardware- Market Size & Forecast 2019-2030, USD Million
          1. Monitors- Market Size & Forecast 2019-2030, USD Million
          2. Medical Peripheral Devices (Digital ECG, Digital Stethoscope)- Market Size & Forecast 2019-2030, USD Million
        2. Software- Market Size & Forecast 2019-2030, USD Million
          1. Integrated Software- Market Size & Forecast 2019-2030, USD Million
          2. Standalone Software- Market Size & Forecast 2019-2030, USD Million
      2. By Service
        1. Tele-training - Market Size & Forecast 2019-2030, USD Million
        2. Tele-consultation - Market Size & Forecast 2019-2030, USD Million
        3. Tele- Surgery- Market Size & Forecast 2019-2030, USD Million
        4. Tele-monitoring- Market Size & Forecast 2019-2030, USD Million
        5. Asynchronous (Store-and-Forward)- Market Size & Forecast 2019-2030, USD Million
      3. By Application
        1. Tele-radiology- Market Size & Forecast 2019-2030, USD Million
        2. Tele-Psychiatry- Market Size & Forecast 2019-2030, USD Million
        3. Tele-Cardiology- Market Size & Forecast 2019-2030, USD Million
        4. Tele-Dermatology- Market Size & Forecast 2019-2030, USD Million
        5. Tele-Neurology- Market Size & Forecast 2019-2030, USD Million
        6. Tele-Pathology- Market Size & Forecast 2019-2030, USD Million
        7. Emergency Care- Market Size & Forecast 2019-2030, USD Million
        8. Others (Tele-Nephrology, Tele-Obstetrics, etc.) - Market Size & Forecast 2019-2030, USD Million
      4. By End User
        1. Hospitals- Market Size & Forecast 2019-2030, USD Million
        2. Home Care- Market Size & Forecast 2019-2030, USD Million
        3. Clinics & Specialty Centers - Market Size & Forecast 2019-2030, USD Million
        4. Others (Medical Labs, etc.) - Market Size & Forecast 2019-2030, USD Million
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      6. By Competition
        1. Competition Characteristics
        2. Market Share Analysis
  10. North America Telemedicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Service- Market Size & Forecast 2019-2030, USD Million
      3. By Application- Market Size & Forecast 2019-2030, USD Million
      4. By End User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    4. Canada Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    5. Mexico Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
  11. South America Telemedicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Service- Market Size & Forecast 2019-2030, USD Million
      3. By Application- Market Size & Forecast 2019-2030, USD Million
      4. By End User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. Brazil
        2. Rest of South America
    3. Brazil Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    4. Argentina Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
  12. Europe Telemedicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Service- Market Size & Forecast 2019-2030, USD Million
      3. By Application- Market Size & Forecast 2019-2030, USD Million
      4. By End User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Spain
        5. Italy
        6. The Netherland
        7. Rest of Europe
    3. Germany Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    4. The UK Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    5. France Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    6. Spain Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
        2. By Type- Market Size & Forecast 2019-2030, USD Million
        3. By End User Market Size & Forecast 2019-2030, USD Million
    7. Italy Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    8. The Netherland Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
  13. The Middle East & Africa Telemedicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Service- Market Size & Forecast 2019-2030, USD Million
      3. By Application- Market Size & Forecast 2019-2030, USD Million
      4. By End User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. The UAE
        2. Saudi Arabia
        3. Oman
        4. Bahrain
        5. Qatar
        6. Kuwait
        7. South Africa
        8. Rest of the Middle East & Africa
    3. The UAE Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    4. Saudi Arabia Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    5. Oman Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    6. Bahrain Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    7. Qatar Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    8. Kuwait Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    9. South Africa Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
  14. Asia-Pacific Telemedicine Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues USD Million
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030, USD Million
      2. By Service- Market Size & Forecast 2019-2030, USD Million
      3. By Application- Market Size & Forecast 2019-2030, USD Million
      4. By End User- Market Size & Forecast 2019-2030, USD Million
      5. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. South East Asia
        7. Rest of Asia-Pacific
    3. China Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    4. Japan Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    5. India Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    6. South Korea Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    7. Australia Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
    8. South East Asia Telemedicine Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues USD Million
      2. Market Share & Analysis
        1. By Service- Market Size & Forecast 2019-2030, USD Million
  15. Global Telemedicine Market Key Strategic Imperatives for Success & Growth
  16. Competitive Outlook
    1. Company Profiles 
      1. GE Healthcare
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. AMD
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Aerotel
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Philips
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. McKesson Corp
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. SHL
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Polycom
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Medtronic Plc                                 
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. In Touch
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Hicuity Health
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  17. Disclaimer


Global Telemedicine Market Segmentation