The telehealth and telemedicine market is predicted to capture a valuation of US$ 106.0 billion in 2023 and rise to US$ 912.0 billion by 2033. The market is estimated at a CAGR of 24% during the forecast period.
Factors driving market size are:
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Due to its several influencing factors, healthcare providers can perform their duties efficiently and smoothly. Apart from its positive side, the market may face restraining factors. Adopting telehealth and telemedicine without cyber security results in data loss, and other crucial reports may limit the market growth. The lack of awareness and insufficient protection of telemedicine with smartphones can also increase the number of cyber threats.
According to the World Economic Forum, cyber treating or attacks are one of the top threats in the global market by online hackers. Improper information and fraudulent activities may also slow down market growth. The fake or negative experiences shared on the media & online platforms restrain the market growth.
Healthcare manufacturers have developed a novel approach in telehealth and telemedicine services to help patients through virtual doctors or experts. Telecommunication technology monitors patients; consultancy provides information on virtual patients and doctor meets. Monitoring of patients allows doctors to detect early diseases and prevent them.
Doctors may directly connect with the audio and video conferencing and replay the audio and video record after the meeting. Several developing countries launched various programs related to telehealth care, including the TELEKART program, Whole System Demonstrator, and others. Through remote monitoring, patients don’t require to visit the hospital. They can sufficiently go through these processes while sitting at home, increasing the market trends.
The universities are promoting telehealthcare technology to provide the best treatment related to mental and chronic health all around the globe, and are increasing market growth. The adoption of telehealth and telemedicine as less time-consuming and low-cost services is fueling the market trends during the forecast period.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 24% |
| Market Valuation (2023) | US$ 106.0 billion |
| Market Valuation (2033) | US$ 912.0 billion |
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According to Future Market Insights, the global telehealth and telemedicine market is predicted at a healthy 24% CAGR during the forecast period. Historically, the market registered a CAGR of 15.7% between 2017 and 2022.
The end-user industries, such as providers and patients, are advancing market growth. The growing demand for telehealth and telemedicine during the COVID-19 crisis due to social distancing plays a significant role in uplifting the market expansion. The adoption of telehealth and telemedicine keeps patients and healthcare providers safe. It reduces the risk of infection from one person to another, driving market opportunities.
The market is estimated to reach US$ 912.0 billion during the forecast period. Historically, the market stood at US$ 87.0 billion from 2017 to 2022.
| Segment | Component |
|---|---|
| Top Category | Software & Services |
| Historic CAGR | 15.4% |
| Forecast CAGR | 23.6% |
| Segment | Mode of Delivery |
|---|---|
| Top Category | Cloud-based |
| Historic CAGR | 15.2% |
| Forecast CAGR | 23.8% |
Based on components, software & services are leading the global market by occupying a CAGR of 23.6% during the forecast period. Increasing digital presence and online services leads to improved healthcare services by adopting software & services tools. Healthcare providers make a better solution for patients by adopting software & services tools to connect the service providers easily. Historically, the software & services secured 15.4% between 2017 and 2022.
Based on the mode of delivery, the cloud-based category dominates the global market by occupying a CAGR of 23.8% during the forecast period. The adoption of cloud-based by service providers due to the fast delivery of computing services to others. It is much more flexible to share, store and network the services. Historically, the cloud-based captured a CAGR of 15.2% between 2017 and 2022.
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| Country | United States |
|---|---|
| CAGR (2017 to 2022) | 15.3% |
| CAGR (2023 to 2023) | 23.8% |
| Valuation (2023 to 2033) | US$ 183.2 billion |
| Country | United Kingdom |
|---|---|
| CAGR (2017 to 2022) | 14.3% |
| CAGR (2023 to 2023) | 23.0% |
| Valuation (2023 to 2033) | US$ 38.8 billion |
| Country | China |
|---|---|
| CAGR (2017 to 2022) | 14.9% |
| CAGR (2023 to 2023) | 23.3% |
| Valuation (2023 to 2033) | US$ 93.0 billion |
| Country | Japan |
|---|---|
| CAGR (2017 to 2022) | 13.7% |
| CAGR (2023 to 2023) | 22.3% |
| Valuation (2023 to 2033) | US$ 76.0 billion |
| Country | India |
|---|---|
| CAGR (2017 to 2022) | 12.3% |
| CAGR (2023 to 2023) | 21.4% |
| Valuation (2023 to 2033) | US$ 44.7 billion |
The United States dominates the global market by securing a CAGR of 23.8% with a valuation of US$ 183.2 billion during the forecast period. Rising chronic diseases, a generic population, and low-cost services among patients are driving the United States telehealth and telemedicine market. The manufacturers focus on providing advanced quality healthcare services through telemedicine and are flourishing the market growth.
Rising healthcare infrastructure, expenditure, and advanced technologies, including the novel, are enhancing market opportunities. The government initiatives and present key vendors are expanding the market size in the country. Historically, the United States secured a CAGR of 15.3% between 2017 and 2022.
Two key countries, such as China and India, are significantly growing the global market in the Asia Pacific region.
China is contributing a CAGR of 23.3% with a valuation of US$ 93.0 billion during the forecast period. The increasing number of chronic patients and the population is expected to increase the demand for telehealth and telemedicine in China. China developed significant healthcare infrastructure and innovative healthcare products and services.
Rising patient healthcare awareness and adopting cloud-based technologies are surging China's market size. The manufacturers are improving the quality of a patient's life by providing better healthcare services, and are advancing China's market expansion. Historically, China captured a CAGR of 14.9% between 2017 and 2022.
India is another Asia Pacific nation that secures a CAGR of 21.4% with a valuation of US$ 93.0 billion between 2017 and 2022. Growing smartphone technologies and clinical and laboratory services are advancing India's telehealth and telemedicine market share. Several top companies investing huge amounts in the healthcare sector to enhance the services and acquire maximum output are driving the Indian market.
Adopting telehealth and telemedicine is key to providing quick healthcare solutions and reducing patients' time and money. Historically, the Indian market captured a CAGR of US$ 44.7 billion between 2017 and 2022.
Innovation in the healthcare sector is a crucial factor in enhancing the quality of services through advanced technologies. The prominent vendors invest a top portion in advancing healthcare services to bolster the market size. These players are focusing on achieving their goal in the global market by securing a maximum output.
Through their several marketing strategies, players are upsurging the market level. Furthermore, players are investing in research and development activities to carry out solutions related to patients' requirements. These players adopt marketing tactics, including mergers, collaborations, partnerships, agreements, and acquisitions.
The prominent players are making several alliances to boost the market size. The small-size players are innovating new products and providing at a low cost, and are playing a key role in the market expansion.
Recent Developments in the Telehealth and Telemedicine Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | US$ billion for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, Türkiye, and South Africa |
| Key Segments Covered | Component, End Use, Mode of Delivery, Application, Region |
| Key Companies Profiled | Medtronic; Allscripts Healthcare Solutions Inc; GE Healthcare; Siemens Healthineers; Cerner Corporation; BioTelemetry; Koninklijke Philips NV |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
China, India, and Japan are key Asian countries.
The healthcare industry is the primary user of telehealth and telemedicine.
The United Kingdom is expected to record a CAGR of 23% through 2033.
In 2023, the global market was estimated to be worth US$ 106 billion.
The global market is expected to reach US$ 912 billion by 2033.
1. Executive Summary | Telehealth and Telemedicine Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2017 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
5.3.1. Software & Services
5.3.2. Hardware
5.4. Y-o-Y Growth Trend Analysis By Component, 2017 to 2022
5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Mode of Delivery
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Mode of Delivery, 2017 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Mode of Delivery, 2023 to 2033
6.3.1. Cloud-based
6.3.2. On-premise
6.4. Y-o-Y Growth Trend Analysis By Mode of Delivery, 2017 to 2022
6.5. Absolute $ Opportunity Analysis By Mode of Delivery, 2023 to 2033
7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Application , 2017 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application , 2023 to 2033
7.3.1. Teleconsultation
7.3.2. TelelCU
7.3.3. Telestroke
7.3.4. Teleradiology
7.3.5. Telepsychiatry
7.3.6. Teledermatology
7.3.7. Other Applications
7.4. Y-o-Y Growth Trend Analysis By Application , 2017 to 2022
7.5. Absolute $ Opportunity Analysis By Application , 2023 to 2033
8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End Use
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By End Use, 2017 to 2022
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End Use, 2023 to 2033
8.3.1. Providers
8.3.2. Patients
8.3.3. Others
8.4. Y-o-Y Growth Trend Analysis By End Use, 2017 to 2022
8.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033
9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2022
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. Middle East and Africa
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. USA
10.2.1.2. Canada
10.2.2. By Component
10.2.3. By Mode of Delivery
10.2.4. By Application
10.2.5. By End Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By Mode of Delivery
10.3.4. By Application
10.3.5. By End Use
10.4. Key Takeaways
11. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Component
11.2.3. By Mode of Delivery
11.2.4. By Application
11.2.5. By End Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By Mode of Delivery
11.3.4. By Application
11.3.5. By End Use
11.4. Key Takeaways
12. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. United Kingdom
12.2.1.2. Spain
12.2.1.3. Germany
12.2.1.4. Italy
12.2.1.5. France
12.2.1.6. Rest of Europe
12.2.2. By Component
12.2.3. By Mode of Delivery
12.2.4. By Application
12.2.5. By End Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By Mode of Delivery
12.3.4. By Application
12.3.5. By End Use
12.4. Key Takeaways
13. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. India
13.2.1.2. China
13.2.1.3. Japan
13.2.1.4. Australia & New Zealand
13.2.1.5. Rest of Asia Pacific
13.2.2. By Component
13.2.3. By Mode of Delivery
13.2.4. By Application
13.2.5. By End Use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By Mode of Delivery
13.3.4. By Application
13.3.5. By End Use
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. South Africa
14.2.1.2. GCC Countries
14.2.1.3. Rest of Middle East and Africa
14.2.2. By Component
14.2.3. By Mode of Delivery
14.2.4. By Application
14.2.5. By End Use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Component
14.3.3. By Mode of Delivery
14.3.4. By Application
14.3.5. By End Use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Component
15.1.2.2. By Mode of Delivery
15.1.2.3. By Application
15.1.2.4. By End Use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Component
15.2.2.2. By Mode of Delivery
15.2.2.3. By Application
15.2.2.4. By End Use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Component
15.3.2.2. By Mode of Delivery
15.3.2.3. By Application
15.3.2.4. By End Use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Component
15.4.2.2. By Mode of Delivery
15.4.2.3. By Application
15.4.2.4. By End Use
15.5. United Kingdom
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Component
15.5.2.2. By Mode of Delivery
15.5.2.3. By Application
15.5.2.4. By End Use
15.6. Spain
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Component
15.6.2.2. By Mode of Delivery
15.6.2.3. By Application
15.6.2.4. By End Use
15.7. Germany
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Component
15.7.2.2. By Mode of Delivery
15.7.2.3. By Application
15.7.2.4. By End Use
15.8. Italy
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Component
15.8.2.2. By Mode of Delivery
15.8.2.3. By Application
15.8.2.4. By End Use
15.9. France
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Component
15.9.2.2. By Mode of Delivery
15.9.2.3. By Application
15.9.2.4. By End Use
15.10. India
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Component
15.10.2.2. By Mode of Delivery
15.10.2.3. By Application
15.10.2.4. By End Use
15.11. China
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Component
15.11.2.2. By Mode of Delivery
15.11.2.3. By Application
15.11.2.4. By End Use
15.12. Japan
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Component
15.12.2.2. By Mode of Delivery
15.12.2.3. By Application
15.12.2.4. By End Use
15.13. Australia & New Zealand
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Component
15.13.2.2. By Mode of Delivery
15.13.2.3. By Application
15.13.2.4. By End Use
15.14. South Africa
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Component
15.14.2.2. By Mode of Delivery
15.14.2.3. By Application
15.14.2.4. By End Use
15.15. GCC Countries
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Component
15.15.2.2. By Mode of Delivery
15.15.2.3. By Application
15.15.2.4. By End Use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Component
16.3.3. By Mode of Delivery
16.3.4. By Application
16.3.5. By End Use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. KONINKLIJKE PHILIPS
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. MEDTRONIC
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. GE HEALTHCARE
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. CERNER CORPORATION
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. SIEMENS HEALTHINEERS AG
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. CISCO SYSTEMS
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. ASAHI KASEI CORPORATION
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. IRON BOW TECHNOLOGIES
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. AMERICAN WELL
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. TELADOC HEALTH
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Telehealth and Telemedicine Market
