Market Overview:

The Telehealth Market size was USD 126.97 billion in 2022. Covid-19's pandemic created an urgent need for remote healthcare services to minimize in-person contact and reduce the risk of virus transmission. As a result, there has been a tremendous surge in demand for telehealth services, including teleconsultations, telemonitoring, and teletherapy.

According to a new report by IMIR Market Research on Global Telehealth Market is projected to grow at a CAGR of 95.7%, from USD 159.47 billion in 2023 to USD 987.13 billion in 2031 during the forecast period (2024-2032). The sudden rise in CAGR is attributed to this market growth returning to the pre-pandemic level once the pandemic is over. 

Scope of Telehealth Market Report:

A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Telehealth Market. On the basis of historic growth analysis and current scenario of Telehealth market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Telehealth market. This further helps users with their developmental strategy.

This report examines all the key factors influencing growth of global Telehealth market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Telehealth market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.

The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

Market Scope and Definition:

The telehealth market refers to the provision of healthcare services and information remotely using telecommunication technologies and digital platforms. It involves the use of various communication tools, such as video conferencing, secure messaging, mobile apps, and remote monitoring devices, to facilitate virtual consultations, remote diagnosis, treatment, monitoring, and patient education. The telehealth market is driven by factors such as increasing demand for convenient and accessible healthcare, advancements in communication technology, cost savings potential, and the need for remote healthcare delivery in underserved areas.

The scope of the telehealth market encompasses various aspects related to the provision of remote healthcare services and the technologies supporting. The telehealth market involves various technologies and platforms that facilitate remote healthcare delivery. This includes video conferencing software, secure messaging platforms, mobile health applications, electronic health record (EHR) systems. Several key players in the market are adopting strategies such as mergers, acquisition, partnerships, and collaboration for the expansion their product portfolio. For instance,

• In August 2020, Teladoc Health announced a merger with Livongo, a leading provider of remote monitoring and chronic care management solutions. This collaboration aimed to create a comprehensive virtual care platform that integrates telehealth services with personalized health coaching and remote monitoring capabilities.

Market Dynamics - Market Drivers:

Increasing Demand for Convenient and Accessible Healthcare is the Driver of the Telehealth Market

Patients are seeking more convenient and accessible healthcare options. Telehealth allows individuals to access medical services remotely, eliminating the need for in-person visits, long wait times, and travel. It offers convenience, especially for patients with limited mobility, those in rural or underserved areas, and those seeking specialist consultations. Telehealth eliminates the need for patients to travel to healthcare facilities, wait in crowded waiting rooms, or take time off work for appointments. Virtual consultations allow patients to schedule appointments at their convenience, reducing the time and effort required for in-person visits.

For instance, in August 2021, Biden-Harris Administration announced an investment of approximately 19 million to improve healthcare delivery and address gaps in care faced in rural areas that have poor access to critical services.

Advancements in Communication Technology Drives the Market Growth

Rapid advancements in communication technology, including high-speed internet, mobile devices, and video conferencing tools, have made telehealth more feasible and accessible. The availability of reliable and secure communication infrastructure enables seamless virtual consultations and remote monitoring of patients' health.

The proliferation of mobile devices, particularly smartphones, has expanded access to telehealth services. Patients can easily connect with healthcare providers through mobile apps, receive notifications, and access their medical information on the go. Mobile devices also support the use of remote monitoring devices and health-tracking applications.

Market Trends:

Continued Growth and Adoption is the Market Trend of Telehealth Market.

The telehealth market has experienced significant growth and adoption, particularly accelerated by the COVID-19 pandemic. Telehealth services have become more widely accepted and integrated into healthcare systems, and the trend is expected to continue as patients and providers recognize the benefits and convenience of virtual care.

The need for social distancing and minimizing in-person contact during the pandemic has led to a surge in demand for telehealth services. Patients have embraced virtual care as a safe and convenient alternative to traditional in-person visits, avoiding the risk of exposure to infectious diseases.

Market Restraining Factors:

Resistance to Change and Limited Awareness is a Restraining Factor in the Telehealth Market

Some patients may have a strong preference for in-person care due to the longstanding traditional healthcare model. They may be accustomed to face-to-face interactions with healthcare providers and may be hesitant to switch to virtual consultations. Educating patients about the convenience, accessibility, and quality of care offered through telehealth can help overcome this resistance.

Many individuals, both patients, and providers, may have limited awareness of telehealth and its capabilities. Lack of knowledge about how telehealth works, its benefits, and the range of services it can provide may contribute to resistance. Increasing awareness through educational campaigns, informational materials, and targeted marketing efforts can help address this limitation.

Key Players Strategies in the Market:

• In August 2021, Philips, a leading healthcare technology company, announced the launch of Philips Acute Care Telehealth. This new offering aims to provide a flexible and configurable solution to help healthcare systems deliver virtual care in acute care settings.
• In June 2020, Oracle completed the acquisition of Cerner Corp. and acquired a 69.2% stake in the company. Both the companies, post the acquisition, will focus on codeveloping advanced healthcare analytics solutions and expanding their product portfolio & business footprint.
• In January 2020, Teladoc Health, a leading telehealth company, completed the acquisition of InTouch Health. This acquisition expanded Teladoc Health's network by integrating InTouch Health's network of more than 450 hospitals and healthcare facilities.

Telehealth Market Players Analysis:

• Allscripts Healthcare Solutions
• AMD Global Telemedicine Inc.
• American Well
• Boston Scientific Corporation
• Care Innovations LLC
• Cerner Corporation (Oracle)
• Doctor On Demand
• GE Healthcare
• GlobalMed
• Honeywell International Inc.
• Koninklijke Philips N.V
• MD Live
• Medtronic PLC
• Right Health
• Siemens Healthineers
• Teladoc Health Inc.
• Cisco Systems
• Others

Telehealth Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2023-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Key Industry Developments:

• In August 2021, CVS Health launched Aetna Virtual Primary Care in collaboration with Teladoc. The partnership between Teladoc and CVS Health enables the provision of virtual care services to patients through video and telephone consultations.
• In 2020, Columbia Asia Hospital group launched a telehealth service that offers numerous services, including doctors through video calls, medical advice and/or clinical management, and drug prescriptions.
• In May 2021, Veradigm, a business unit of Allscripts Healthcare, announced an agreement with Lash Group, a patient support services business. This agreement aimed to enhance the availability and management of specialty medications within the Veradigm AccelRx platform.

Report Coverage:

The report will cover the qualitative and quantitative data on the global telehealth market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Market Segmentation Analysis:

The market scope is segmented on the basis of By Component, By Delivery Mode, By Application, By End User And By Region.

By Component

Based on the component the market is segmented into hardware, software, and services.

Software: While software is a critical component in the telehealth market, it often works in conjunction with hardware devices, communication infrastructure, and healthcare services to create a comprehensive telehealth ecosystem.

Services: In the telehealth market, services play a significant role in enabling and supporting the delivery of remote healthcare. These services encompass a wide range of activities and expertise required for the successful implementation and operation of telehealth solutions.

By Delivery Mode

Based on the delivery mode of the market is segmented into Delivery, Cloud-based and On-premises

Cloud Based: Cloud-based solutions have become a cornerstone of the telehealth industry, enabling healthcare providers to deliver scalable, accessible, and secure remote care services. The adoption of cloud technology in telehealth is expected to continue growing as healthcare organizations recognize the benefits and potential it offers for transforming healthcare delivery.

On-premises: Healthcare organizations may choose to deploy telehealth solutions on-premises to maintain full control over security and compliance. By hosting data and applications locally, they can ensure compliance with industry regulations and have direct control over security measures.

By Application

Based on application the market is segmented into Teleradiology, Telepsychiatry, Teledermatology, Teleconsultation, TeleICU, Telestroke, and Others.

Telemedicine: Telemedicine services have gained significant traction due to their ability to provide convenient, accessible, and cost-effective healthcare, especially for non-emergency conditions. The COVID-19 pandemic further accelerated the adoption of telemedicine as healthcare systems worldwide sought to minimize in-person visits and maintain patient care continuity.

Teledermatology: Teledermatology holds a prominent share in the telehealth market, specifically in the field of remote dermatological care and consultations. Teledermatology involves the use of telecommunication technology to facilitate virtual dermatology consultations, diagnosis, and treatment planning.

Regional Snapshots:

North America: North America holds the largest share in the global telehealth market. The region's advanced healthcare infrastructure, technological advancements, and favourable reimbursement policies have contributed to the widespread adoption of telehealth services.

Europe: Europe has a well-established healthcare infrastructure with advanced hospitals, medical facilities, and healthcare systems. This infrastructure provides a solid foundation for the integration of telehealth solutions and services.

Asia-Pacific: Asia-Pacific is experiencing significant growth in the telehealth market and is expected to have the highest Compound Annual Growth Rate (CAGR). The Asia-Pacific region has a substantial population, with a growing demand for accessible and affordable healthcare services.

Middle East and Africa: The Middle East and Africa (MEA) region is experiencing steady growth in the telehealth market, although it may have a slightly smaller market share compared to regions like North America, Europe, and Asia-Pacific.

Telehealth Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase:

• To gain insightful analyses of the Telehealth market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Telehealth market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Telehealth market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Telehealth Market:

• Historic year: 2018- 2021
• Base year: 2022
• Forecast: 2023 to 2031
• Representation of Market revenue in USD Million

Telehealth Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: