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Global Telemedicine Market Share, Size, Growth, Forecast: By Type: Product, Services; By Mode of Delivery: On-premises Delivery, Cloud-based Delivery; By Applications: Teleradiology, Telepsychiatry, Telepathology, Tele dermatology, Tele Nursing, Others; By Facility; By End User; Regional Analysis; Supplier Landscape; 2023-2031
Global Telemedicine Market Outlook
The global telemedicine market size attained a value of USD 73.1 billion in 2022. The market is estimated to grow at a CAGR of 19.3% during the forecast period of 2023-2031 to reach a value of USD 377.0 billion by 2031. The growth can be attributed to the increased technological advancement and increased adoption of teleconsultation in healthcare.
Telemedicine Market: Introduction and Insights
Telemedicine is the delivery of distant clinical services through real-time two-way contact between the patient and the healthcare professional via electronic audio and visual methods. Telemedicine is classified into three types, which include:
- Interactive medicine enables patients and clinicians to communicate in real time while adhering to HIPAA regulations.
- Store and forward enables clinicians to communicate patient information with another practitioner in another location.
- Remote patient monitoring enables remote caregivers to monitor patients who live at home by collecting their data using mobile medical equipment (for example- blood sugar or blood pressure).
Benefits of Telemedicine Market
Telemedicine offers multiple benefits to providers and the users. These benefits are discussed below:
To the Providers:
- Telemedicine is being used by healthcare organisations, physician practices, and skilled nursing institutions to deliver more efficient care.
- Electronic medical records, AI diagnostics, and medical streaming devices that are coupled with telemedicine software can help providers diagnose and treat patients more effectively.
- It also enables providers to monitor patients in real time and modify treatment programmes as needed. Increased revenue can also help providers.
- Using telemedicine, physicians can see more patients without having to recruit more personnel or expand their office space.
To the Users:
- With video consultations, patients can avoid spending money on gas or wasting time stuck in traffic.
- No missed work: Individuals can book consultations during work breaks or even after hours.
- Childcare/Eldercare Issues: Those who are having difficulty finding care options can turn to telemedicine solutions.
Telemedicine Market Segmentations:
According to the global telemedicine market research report, the market can be categorised into segments like type, mode of delivery, applications, facility, end user, and major regions.
Market Breakup by Type
- Product
- Hardware
- Software
- Others
- Services
- Tele-Consulting
- Tele-Monitoring
Market Breakup by Mode of Delivery
- On-premises Delivery
- Cloud-based Delivery
Market Breakup by Applications
- Teleradiology
- Telepsychiatry
- Telepathology
- Tele dermatology
- Tele Nursing
- Tele Pharmacy
- Tele Stroke
- Others
Market Breakup by Facility
- Tele-Hospitals
- Tele-Home
Market Breakup by End User
- Healthcare Providers
- Patients
- Healthcare Payers
- Others
Telemedicine Market Breakup by Region
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Telemedicine Market Scenario
The adoption of digital technologies and teleconsultations has become a useful technique for treating health issues globally. Teleconsultations are less expensive and reduce the workload on healthcare workers. This is the key reason why government organisations are emphasising more on installing digital health technologies, further aiding the growth of the market.
Furthermore, as social alienation has become the new normal, the demand for teleconsultations and digital health services has soared. Every year, the prevalence of neurological illnesses rises at an alarming rate. According to World Federation of Neurology research, over 14% of the United States population has some sort of noncommunicable neurological disease, which is expected to quadruple by 2050.
Among the regional markets, Latin American telemedicine market is expected to grow at a rapid pace during the forecast period. Although the region's total healthcare infrastructure is still at a nascent stage, there is an enormous opportunity for growth in telehealth solutions. Within Latin America, Chile and Uruguay are the two regions which are set to become the leading providers of telemedicine technologies in the world. Colombia, on the other hand, is already soaring high in terms of telehealth solutions and held more than nine million telemedicine visits in the first six months of 2020.
Telemedicine Market Competitive Landscape
The report gives an in-depth analysis of the key players involved in the global telemedicine market, sponsors manufacturing the therapies, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
- MDlive, Inc
- American Well Corporation
- Twilio Inc
- Teladoc Health, Inc.
- Doctor On Demand, Inc.
- SOC Telemed, Inc.
- Plantronics, Inc.
- Practo
- Sesame, Inc.
- Doxy.me Inc.
- Koninklijke Philips
- GE Healthcare
- Siemens Healthineers AG
- Medtronic plc
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2016-2022 |
| Forecast Period | 2023-2031 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Mode of Delivery |
|
| Breakup by Applications |
|
| Breakup by Facility |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Telemedicine Market Overview
3.1 Global Telemedicine Market Historical Value (2016-2022)
3.2 Global Telemedicine Market Forecast Value (2023-2031)
4 Global Telemedicine Market Landscape
4.1 Global Telemedicine Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Telemedicine Product Landscape
4.2.1 Analysis by Product and Services
4.2.2 Analysis by Mode of Delivery
4.2.3 Analysis by Applications
4.2.4 Analysis by End Users
5 Global Telemedicine Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Telemedicine Market Segmentation
6.1 Global Telemedicine Market by Type
6.1.1 Market Overview
6.1.2 Product
6.1.2.1 Hardware
6.1.2.2 Software
6.1.2.3 Others
6.1.3 Services
6.1.3.1 Tele-Consulting
6.1.3.2 Tele-Monitoring
6.2 Global Telemedicine Market by Mode of Delivery
6.2.1 Market Overview
6.2.2 On-premises Delivery
6.2.3 Cloud-based Delivery
6.3 Global Telemedicine Market by Applications
6.3.1 Market Overview
6.3.2 Teleradiology
6.3.3 Telepsychiatry
6.3.4 Telepathology
6.3.5 Tele dermatology
6.3.6 Tele Nursing
6.3.7 Tele Pharmacy
6.3.8 Tele Stroke
6.3.9 Others
6.4 Global Telemedicine Market by Facility
6.4.1 Market Overview
6.4.2 Tele-Hospitals
6.4.3 Tele-Home
6.5 Global Telemedicine Market by End User
6.5.1 Market Overview
6.5.2 Healthcare Providers
6.5.3 Patients
6.5.4 Healthcare Payers
6.5.5 Others
6.6 Global Telemedicine Market by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Telemedicine Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Telemedicine Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Telemedicine Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Telemedicine Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Telemedicine Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 MDlive, Inc
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 American Well Corporation
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Twilio Inc
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Teladoc Health, Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Doctor On Demand, Inc.
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 SOC Telemed, Inc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Plantronics, Inc.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Practo
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Sesame, Inc.
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Doxy.me Inc.
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Koninklijke Philips
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 GE Healthcare
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Siemens Healthineers AG
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Medtronic plc
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
18 Global Telemedicine Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market size reached a value of USD 73.1 billion in 2022.
The market is expected to grow at a CAGR of 19.3% during the forecast period of 2023-2031 to reach a value of about USD 377 billion by 2031.
Advanced technological innovation and increased acceptance of teleconsultation in healthcare are the major drivers that are aiding the market growth.
The regions involved in this market are North America, Latin America, Asia Pacific, Europe, and Latin America.
Depending on the ailment and type of patient, digital engagement and follow-up can significantly improve treatment outcomes and quality of life.
The product types can be categorised into hardware and software, among others. Services can be further classified into tele-consulting and tele-monitoring.
The modes of delivery can be categorized into on-premises delivery and cloud-based delivery.
Telemedicine finds wide applications in teleradiology, telepsychiatry, telepathology, tele dermatology, tele nursing, tele pharmacy, and tele stroke, among others.
The facilities included in the market are tele-hospitals and tele-home.
The end-users in the market include healthcare providers, patients, and healthcare payers, among others.
The key companies involved in the global market are MDlive, Inc, American Well Corporation, Twilio Inc, Teladoc Health, Inc., Doctor On Demand, Inc., SOC Telemed, Inc., Plantronics, Inc., Practo, Sesame, Inc., Doxy.me Inc., Koninklijke Philips, GE Healthcare, Siemens Healthineers AG, and Medtronic plc.
Analyst Review
The global telemedicine market attained a value of USD 83.26 billion in 2022, driven by the rising demand for cost-effective and user-friendly healthcare services. Aided by the increasing technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2031, growing at a CAGR of 20.15%. The market is projected to reach USD 434.47 billion by 2031.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By service, the market is segmented into tele nursing, tele pharmacy, tele radiology, tele dermatology, tele psychiatry, telepathology, tele consultation, and tele oncology. On the basis of deployment modes, the market is divided into cloud based and on-premises. By end-use sectors, the market is categorised into hospital, clinics, and home care, among others. The major regional markets for telemedicine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include AMD Global Telemedicine, Inc., BioTelemetry, Inc., CareClix, Cerner Corporation, Cisco, GENERAL ELECTRIC, IBM Corporation, Intel Corporation, TeleVital, and SHL Telemedicine.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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