Report Details

Pharma & Healthcare

Telemedicine Market Size, Share & Analysis By Type (Tele-hospital, Tele-home, mHealth), By Component (Product, Services), By Application (Teleradiology, Telepathology, Teledermatology, Telepsychiatry, Telecardiology, Others), By Modality (Store-and-forward, Real-time, Others), By End-User (Providers, Patients, Payers, Others), By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), and Growth Forecasts to 2032

ID: XI679337 | Published: Dec 2023 | Pages: 200 | Format: Electronic (PDF) | Industry: Pharma & Healthcare

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Telemedicine Market Overview 2023:

The global telemedicine market size was USD 70 billion in 2022 and is expected to register a robust revenue CAGR of 12.7% over the forecast period. This growth can be significantly driven by factors such as increasing prevalence of chronic diseases across the globe, high focus on providing instant help related to diagnosis and treatment to remote areas, and rapid adoption of digitalization in hospitals, clinics, and other healthcare centers.

Telemedicine is the use of telecommunication technology to provide medical services and information such as consultations, diagnosis, and treatment planning to monitoring and follow-ups using digital platforms. Telemedicine allows patients to consult numerous healthcare providers in real-time using various communication tools such as video conferencing, mobile applications, and other digital platforms, without the need for in-person visits. It also allows elderly people or people with disabilities to attain easy access to care without the need for frequent travel and long queue waiting.

Telemedicine enables continuous monitoring and management of chronic diseases like diabetes, hypertension, and heart diseases along with neurological disorders, and skin conditions. Healthcare providers can monitor and adjust treatment plans either through store-and-forward modality or real-time. These services have significantly increased post-COVID-19 outbreak.

However, it often faces challenges related to licensing and credentialing across different countries. In addition, protecting patient data and ensuring overall privacy is a significant concern in telemedicine. These factors are expected to hamper overall market growth during the forecast period.

Key Takeaways:

Rapid Advancements in Technology and Rural Healthcare Access:

Rapid advancements in technology such as high-speed internet, and easy access to advanced smartphones, wearables, and security platforms have resulted in the growing adoption of telehealth. Moreover, it helps in bridging the gap between urban and rural healthcare by offering remote consultations, monitoring, and treatment.

Limited Physical Examination and Technological Barriers:

Though telemedicine is rapidly gaining traction and offers multiple benefits, it is yet to replace in-person consultations for procedures that require a physical examination. This limitation is expected to affect the scope of the service to a certain extent. In addition, many remote areas lack access to advanced devices and strong internet connectivity.

Market Opportunities:

The rising popularity of telemedicine and digitalization in the healthcare sector is expected to open novel avenues for new entrants and existing market players. Some of these include the expansion of digital access to underserved areas, enhancing chronic disease management, specialty care services, remote patient management along with mental health services. In addition, these players can collaborate and integrate with existing healthcare systems, EHRs, and interoperability standards.

Type Outlook:

Based on type, the global market is segmented into tele-hospital, tele-home, and mHealth. Among these, the tele-home segment is expected to account for largest revenue share during the forecast period. This can be attributed to rising aging population, high adoption of tele-home services for aged population and differently-abled people, and rising preference for tele-home services for remote monitoring and consultations with healthcare providers, virtual home healthcare services, and home monitoring of patients with chronic conditions.   

Application Outlook:

The global market is segmented into teleradiology, telepathology, teledermatology, telepsychiatry, telecardiology, and others based on applications. Among these, the teledermatology segment is expected to register rapid revenue CAGR between 2023 and 2032.  Factors such as rising prevalence of various skin diseases, high usage of digital images and telecommunication technologies for remote diagnosis and management of skin conditions, and growing popularity of teledermatology due to its convenience, efficiency, and ability to reach people in remote areas are expected to drive segment revenue growth during the forecast period.

Regional Outlook:

North America is expected to account for largest revenue share in the global market during the forecast period. This growth can be significantly driven by factors such as rising prevalence of chronic diseases, rapid adoption of advanced technologies such as telemedicine services and products in healthcare centers across the region, and presence of leading companies. In addition, rising preference for home care settings, presence of well-established healthcare services and systems and increasing investments in enhancing telemedicine are expected to drive North America market growth during the forecast period.

Asia Pacific is expected to register a rapid revenue CAGR over the forecast period owing to increasing incidence of various types of chronic illnesses, rising geriatric population, favorable government initiatives to promote telemedicine use and rapid adoption of advanced technologies.

Report Coverage:  

Report Details  Outcome
 Base Year for Estimation  2022
 Historical Data  2018-2021
 Forecast Period  2023-2032
 Segments Covered   Type, Component, Application, Modality, End-User and Region
 By Type  Tele-hospital, Tele-home, mHealth
 By Component  Product, Services
 By Application  Teleradiology, Telepathology, Teledermatology, Telepsychiatry, Telecardiology, Others
 By Modality  Store-and-forward, Real-time, Others
 By End Users  Providers, Patients, Payers, Others
 Regional Scope  North America, Europe, Asia Pacific, Latin America, Middle East and Africa
 Country Scope  United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey
 Qualitative Info  •Value Chain Analysis
 •Pricing Analysis
 •Regional Outlook
 •Market Trends
 •Market Share Analysis
 •Competition Analysis
 •Technological Advancements
 Key Players  Koninklijke Philips N.V., Medtronic, GE Healthcare, Cerner Corporation, Siemens Healthineers, Cisco Systems, Inc., Teladoc Health Inc., American Well, AMC Health, MDLIVE, Doctor on Demand, Zoom Video Communications, Inc., Practo, VSee
 Customization Scope  10 Hours of Free Customization and Expert Consultation


Competitive Landscape:

The global Telemedicine market is extremely competitive, comprising several key regional and global players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, adapting to evolving technology trends and consumer needs.

Some Leading Market Companies Listed in the Report:

  • Koninklijke Philips N.V.
  • Medtronic
  • GE Healthcare
  • Cerner Corporation
  • Siemens Healthineers
  • Cisco Systems, Inc.
  • Teladoc Health Inc.
  • American Well
  • AMC Health
  • MDLIVE
  • Doctor on Demand
  • Zoom Video Communications, Inc.
  • Practo
  • VSee

Telemedicine Industry Recent Developments:

  • In July 2023, Travel insurance company Faye partnered with Air Doctor to launch telemedicine services for those traveling to 75 countries across the globe with Faye. The services include instant and easy access to near-instant voice and video consultations with doctors.
  • In March 2023, Royal Philips announced the launch of Philips Virtual Care Management for easy access to telehealth to patients, payers and healthcare providers.
  • In September 2022, RxDefine, a leading engagement platform designed to educate and empower healthcare consumers and professionals, announced the launch of RxTelehealth, a telehealth solution for life science brands.

The global Telemedicine Market has been segmented based on type, components, modality, application, End-use, and Region:

By Type:

  • Tele-hospital
  • Tele-home
  • mHealth

By Components:

  • Product
    • Hardware
    • Software
    • Others
  • Services
    • Tele-consulting
    • Tele-monitoring
    • Tele-education

By Modality:

  • Store-and-forward
  • Real-time
  • Others

By Application:

  • Teleradiology
  • Telepathology
  • Teledermatology
  • Telepsychiatry
  • Telecardiology
  • Others

By End Users:

  • Providers
  • Patients
  • Payers
  • Others

By Region:

  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
    • Nordic Countries
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Southeast Asia
    • India
    • Australia
    • Rest of Asia
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Turkey
    • Saudi Arabia
    • UAE
    • Rest of MEA

FAQ

The Telemedicine market research report includes specific segments by region (country), i.e. North America, Europe, Asia Pacific, South America, Middle East and Africa

The Telemedicine market report provides global companies with an opportunity to enter new markets, invest in new sectors, analyze consumer reactions, investigate global competition, and ultimately make smart investments.

Telemedicine report covers the latest market developments in terms of acquisitions, growth strategies, joint ventures and collaborations, new product launches, and more on industry.

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Chapter 1. Methodology and Scope

1.1. Methodology Segmentation & Scope
1.2. Information Procurement
1.2.1. Purchased database
1.2.2. Secondary Sources
1.2.3. Third-party Perspectives
1.2.4. Primary research
1.3. Information Analysis
1.3.1. Data Analysis Models
1.4. Market Formulation & Data Visualization
1.5. Research Scope & Assumptions

Chapter 2. Executive Summary

2.1. Telemedicine Market- Industry Snapshot, 2018 - 2032

Chapter 3. Telemedicine Market Variables, Trends & Scope

3.1. Market Size and Growth Prospects, 2023-2032
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint/Challenge Analysis
3.3.3. Market Opportunity Analysis
3.4. Penetration & Growth Prospect Mapping
3.5. Business Environment Analysis Tools
3.5.1. Industry Analysis - Porter's Five Forces Analysis
3.5.2. PEST Analysis
3.5.3. COVID-19 Impact Analysis

Chapter 4. Telemedicine Market Type Outlook 2023-2032 (USD Million)

Chapter 5. Telemedicine Market Application Outlook 2023-2032(USD Million)

Chapter 6: Coronavirus Diseases (COVID-19) Impact:

6.1. Introduction

6.2 Current and Future Impact Analysis

6.3 Economic Impact Analysis

6.4 Investment Scenario

Chapter 7. North America Telemedicine Market Share by Region, 2023 & 2032 (USD Million)

7.1. Market Estimates and Forecast 2023 - 2032 (USD Million)
7.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
7.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
7.4.1. U.S.
7.4.1.1. Market Estimates and Forecast 2023-2032 (USD Million)
7.4.1.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
7.4.1.3 Market Estimates and Forecast by Application, 2023-2032 (USD Million)

7. 4.2. Canada
7. 4.2.1. Market Estimates and Forecast 2023-2032 (USD Million)
7. 4.2.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
7. 4.2.3 Market Estimates and Forecast by Application, 2023-2032 (USD Million)

Chapter 8. Europe Telemedicine Market Share by Region, 2023 & 2032 (USD Million)
 
8.1. Market Estimates and Forecast 2023 - 2032 (USD Million)
8.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)

8.4.1. Germany
8.4.1.1. Market Estimates and Forecast 2023-2032 (USD Million)
8.4.1.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.4.1.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
8.4.2. France
8.4.2.1. Market Estimates and Forecast 2023-2032 (USD Million)
8.4.2.3. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.4.2.3. Market Estimates and Forecast by Application 2023-2032 (USD Million)
8.4.3.  UK
8.4.3.1. Market Estimates and Forecast 2023-2032 (USD Million)
8.4.3.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.2.3.3. Market Estimates and Forecast by Application 2023-2032 (USD Million)
8.4.4.  Italy
8.4.4.1. Market Estimates and Forecast 2023-2032 (USD Million)
8.4.4.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.4.4.3. Market Estimates and Forecast by Application 2023-2032 (USD Million)
8.4.5.  Russia
8.4.5.1. Market Estimates and Forecast 2023-2032 (USD Million)
8.4.5.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.4.5.3. Market Estimates and Forecast by Application 2023-2032 (USD Million)
8.4.6.  Nordic Countries
8.4.6.1. Market Estimates and Forecast 2023-2032 (USD Million)
8.4.6.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.4.6.3. Market Estimates and Forecast by Application 2023-2032 (USD Million)
8.4.7. Rest of Europe
8.4.7.1. Market Estimates and Forecast 2023-2032 (USD Million)
8.4.7.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
8.4.7.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)

Chapter 9. Asia Pacific Telemedicine Market Share by Region, 2023 & 2032 (USD Million)

9.1. Market Estimates and Forecast 2023 - 2032 (USD Million)
9.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
9.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)

9.4.1. China
9.4.1.1. Market Estimates and Forecast 2023-2032 (USD Million)
9.4.1.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
9.4.1.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
9.4.2. Japan
9.4.2.1. Market Estimates and Forecast 2023-2032 (USD Million)
9.4.2.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
9.4.2.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
9.4.3.  South Korea
9.4.3.1. Market Estimates and Forecast 2023-2032 (USD Million)
9.4.3.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
9.4.3.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
9.4.4.  India
9.4.4.1. Market Estimates and Forecast 2023-2032 (USD Million)
9.4.4.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
9.4.4.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
9.4.5.  Australia

9.4.5.1. Market Estimates and Forecast 2023-2032 (USD Million)
9.4.5.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
9.4.5.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
9.4.6. Rest of Asia Pacific
9.4.6.1. Market Estimates and Forecast 2023-2032 (USD Million)
9.4.6.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
9.4.6.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)

Chapter 10. Latin America Telemedicine Market Share by Region, 2023 & 2032 (USD Million)

10.1. Market Estimates and Forecast 2023 - 2032 (USD Million)
10.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
10.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)

10.4.1. Mexico
10.4.1.1. Market Estimates and Forecast 2023-2032 (USD Million)
10.4.1.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
10.4.1.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
10.4.2. Brazil
10.4.2.1. Market Estimates and Forecast 2023-2032 (USD Million)
10.4.2.2 Market Estimates and Forecast by Type, 2023-2032 (USD Million)
10.4.2.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
10.4.3 Rest of Latin America
10.4.3.1 Market Estimates and Forecast 2023-2032 (USD Million)
10.4.3.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
10.4.3.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)

Chapter 11. Middle East and Africa Telemedicine Market Share by Region, 2023 & 2032 (USD Million)

11.1. Market Estimates and Forecast 2023 - 2032 (USD Million)
11.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
11.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million

11.4.1 Turkey
11.4.1.1 Market Estimates and Forecast 2023-2032 (USD Million)
11.4.4.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
11.4.4.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
11.4.2.  Saudi Arabia
11.4.2.1. Market Estimates and Forecast 2023-2032 (USD Million)
11.4.2.2 Market Estimates and Forecast by Type, 2023-2032 (USD Million)
11.4.2.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
11.4.3 UAE
11.4.3.1. Market Estimates and Forecast 2023-2032 (USD Million)
11.4.3.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
11.4.4.1. Market Estimates and Forecast by Application, 2023-2032 (USD Million)
11.4.5.  Rest of MEA
11.4.5.1. Market Estimates and Forecast 2023-2032 (USD Million)
11.4.5.2. Market Estimates and Forecast by Type, 2023-2032 (USD Million)
11.4.5.3. Market Estimates and Forecast by Application, 2023-2032 (USD Million)

Chapter 12 Telemedicine Market Competitive Landscape

  • Koninklijke Philips N.V.
  • Medtronic
  • GE Healthcare
  • Cerner Corporation
  • Siemens Healthineers
  • Cisco Systems, Inc.
  • Teladoc Health Inc.
  • American Well
  • AMC Health
  • MDLIVE
  • Doctor on Demand
  • Zoom Video Communications, Inc.
  • Practo
  • VSee

Table & Figures

  • Koninklijke Philips N.V.
  • Medtronic
  • GE Healthcare
  • Cerner Corporation
  • Siemens Healthineers
  • Cisco Systems, Inc.
  • Teladoc Health Inc.
  • American Well
  • AMC Health
  • MDLIVE
  • Doctor on Demand
  • Zoom Video Communications, Inc.
  • Practo
  • VSee

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