Artificial Intelligence in Telemedicine Market Trends [2031]
Artificial Intelligence in Telemedicine Market Trends [2031]
Segments - Artificial Intelligence (AI) in Telemedicine Market by Type (Services and Software), Application (Virtual Nursing Assistant, Preliminary Diagnosis, Administrative Workflow Assistance, Clinical Trials, and Others), End-user (Homecare, Healthcare Facilities, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5639
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| 201 Pages
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Report Description
Artificial Intelligence (AI) in Telemedicine Market Outlook 2031
The global artificial intelligence (AI) in telemedicine market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of XX% during 2023–2031. The market is driven by the upsurge in teleconsultation services and the advancement in information technology.
Improved diagnostic accuracy and medical imaging analysis provided by the implementation of artificial intelligence in the field of telemedicine are expected to boost the market during the assessment period. AI assists healthcare professionals in the interpretation of MRIs and X-rays, leading to a faster and more precise diagnosis.
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As per the report published by the National Institute of Health in January 2023, the implementation of AI in all the fields of medicine is increasing. It is anticipated to help with personalized prognosis and comprehensive diagnosis for the patients. Its application in radiology is rapidly gaining importance.
Global growth of the geriatric population and the increasing prevalence of chronic diseases require extensive management of patient records. The use of AI facilitates workflow automation, completely streamlining administrative tasks such as medical record management and appointment scheduling. Furthermore, features of AI such as content analytics, deep learning technologies, and Natural Language Processing (NLP) are assisting healthcare providers in the early diagnosis of underlying health conditions of the patient.
The research report finds that the COVID-19 pandemic boosted the market, due to the increased demand for telemedicine facilities owing to the pandemic restrictions. Various governments all around the world, imposed lockdowns to prevent the spread of infection. Moreover, people avoided visiting hospitals for minor health issues to minimize the risk of getting infected. As a result, a large number of people opted for telemedicine services to get initial health diagnoses. The use of AI in telemedicine services aided in accurate diagnosis with the help of virtual nursing assistants.
Artificial Intelligence (AI) in Telemedicine Market Dynamics
Major Drivers
Augmenting the necessity for remote patient monitoring is expected to drive the market during the projection period. The upsurge in the geriatric population and growth in chronic diseases has led to a rapid increase in the requirement for telemedicine services. Integration of AI with telehealth and telemedicine services facilitates preliminary diagnosis through online consultation and virtual nursing platforms for patients. The implementation of artificial intelligence has considerably enhanced the functionality of telemedicine services and is likely to provide major propulsion for artificial intelligence (AI) in the telemedicine market.
Existing Restraints
Growing operational complexities and the risk of data breaches are likely to hamper the market during the forecast period. Though AI brought significant advancements in the field of telemedicine problems such as inconsistencies in diagnosis, prescribed medicines, and the risk to data privacy have significantly increased. This endangers patient safety through an unethical gathering of their data. Thus, these factors are potentially restraining the market during the forecast period.
Emerging Opportunities
Increasing investment of healthcare companies in artificial intelligence is anticipated to provide substantial growth opportunities for the market. Various MedTech and pharmaceutical companies are making substantial investments in the application of artificial intelligence in digital healthcare and medicine. AI helps in performing operational activities efficiently and cost-effectively. In addition, it enables healthcare professionals to detect diseases early and provide effective diagnoses to patients at remote locations. For instance,
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In March 2022, Microsoft Corporation, the global leader among tech giants, announced the complete acquisition of Nuance, a company known for its artificial intelligence and speech recognition software. The deal was finalized for USD 19.7 billion and is expected to enhance the functioning of Microsoft Cloud for Healthcare in patient engagement and operational data insights.
Scope of the Artificial Intelligence (AI) in Telemedicine Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Artificial Intelligence (AI) in Telemedicine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Services and Software), Application (Virtual Nursing Assistant, Preliminary Diagnosis, Administrative Workflow Assistance, Clinical Trials, and Others), and End-user (Homecare, Healthcare Facilities, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Ada Health GmbH; CAE Healthcare Inc.; Cisco Systems, Inc.; HealthTap, Inc.; Hologic, Inc.; IBM; Koninklijke Philips N.V.; LEMONAID HEALTH INC.; Lifesize; and Siemens Healthcare GmbH. |
Artificial Intelligence (AI) in Telemedicine Market Segment Insights
Type Segment Analysis
Based on type, the artificial intelligence in telemedicine market is divided into services and software. The software segment is projected to hold the major share of the market during the projection period, due to the increased adoption of AI-based telemedicine software applications by healthcare professionals and patients. Various top healthcare companies are collaborating with software developers for the planning and development of such applications. With the rising popularity of telemedicine services, this segment is anticipated to have significant growth during the forecast period.
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As per the report published by the National Institute of Health in July 2021, telemedicine is found to aid medical professionals in diagnosing and treating patients even in remote areas. The use of health apps allows for scheduled follow-up visits, which makes the treatment more effective by reducing the probability of missed appointments and optimizing patient outcomes.
The service segment is projected to register a considerable CAGR during the forecast period, owing to its high usage in recent years. These services assist with monitoring the patient’s vitals and connect them to a physician if required. They enable the patient to connect immediately to their healthcare team through the medium of their choice. With the growth of the geriatric population and the rising prevalence of chronic health issues, this segment is projected to have substantial propulsion in the coming years.
Application Segment Analysis
On the basis of application, the global market is segregated into virtual nursing assistants, preliminary diagnosis, administrative workflow assistance, clinical trials, and others. The virtual nursing assistant segment is projected to register a high CAGR during the forecast period, due to its ability to simplify the use of telemedicine applications for users.
A large number of people using telemedicine services are elderly people or individuals living in remote locations. Most of them find it difficult to operate modern telemedicine applications, due to the lack of healthcare facilities available nearby. The use of an AI-based virtual nursing assistant allows them to access their medical records, obtain personalized treatment plans, and avail of teleconsultation services from an expert physician at their home. With increasing dependence on telemedicine services, this segment is likely to have considerable growth during the projection period.
End-user Segment Analysis
Based on end-user, the global market is segmented into homecare, healthcare facilities, and others. The homecare segment is expected to drive the market during the assessment period, as it provides prompt healthcare support to people who are unable to visit a nearby healthcare center and are suffering from chronic health conditions such as diabetes and asthma.
The use of telemedicine in home setups makes healthcare easier for people living in distant remote locations. Furthermore, the use of telehealth services at homecare is highly convenient and cost-effective as it reduces the waiting time and transportation expenses, and is expected to provide major propulsion for this segment.
Regional Outlook
In terms of region, the global artificial intelligence in telemedicine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the projection period, due to the high adoption of AI in medical technology. Several key players are making a lot of efforts to get authorization from the regulatory bodies for the implementation of AI and machine learning in medical technology. Furthermore, the increasing trend of telemedicine is anticipated to deliver a substantial push to the growth of the market in this region.
Asia Pacific is expected to witness major advancements in the market during the forecast period, owing to their rising healthcare standards, expanding medical infrastructure, and development in information technology. Other factors contributing to the development of the market include modern lifestyle, upsurge in per capita income, and large population in countries such as India and China. In addition, the increase in geriatric population in this region is projected to offer considerable opportunities for the growth of the market.
Segments
The artificial intelligence (AI) in telemedicine market has been segmented on the basis of
Type
- Services
- Software
Application
- Virtual Nursing Assistant
- Preliminary Diagnosis
- Administrative Workflow Assistance
- Clinical Trials
- Others
End-user
- Homecare
- Healthcare Facilities
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Ada Health GmbH
- CAE Healthcare Inc.
- Cisco Systems, Inc.
- HealthTap, Inc.
- Hologic, Inc.
- IBM
- Koninklijke Philips N.V.
- LEMONAID HEALTH INC.
- Lifesize
- Siemens Healthcare GmbH
Competitive Landscape
Key players competing in the global artificial intelligence in telemedicine market are Ada Health GmbH; CAE Healthcare Inc.; Cisco Systems, Inc.; HealthTap, Inc.; Hologic, Inc.; IBM; Koninklijke Philips N.V.; LEMONAID HEALTH INC.; Lifesize; and Siemens Healthcare GmbH.
These companies adopt development strategies such as acquisitions, product launches, partnerships, mergers, collaboration, and production expansion to expand their consumer base worldwide. These key players make heavy investments in research & innovation to stay ahead of the curve. For instance,
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In March 2022, Microsoft Corporation made important technological advancements in the healthcare cloud and Azure Health Data services. These advancements include updated health bot templates, improved integration of clinical workflow, and new patient insight features.
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In November 2021, Altivity, a new innovative brand from CANON MEDICAL SYSTEMS EUROPE B.V., uses a combination of machine learning and need learning technologies powered by AI. This new technology is used in medical imaging systems like MRI, which reduces scanning time and provides images with improved quality.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Artificial Intelligence in Telemedicine Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Artificial Intelligence in Telemedicine Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Artificial Intelligence in Telemedicine Market - Supply Chain
4.5. Global Artificial Intelligence in Telemedicine Market Forecast
4.5.1. Artificial Intelligence in Telemedicine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Artificial Intelligence in Telemedicine Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Artificial Intelligence in Telemedicine Market Absolute $ Opportunity
5. Global Artificial Intelligence in Telemedicine Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Types
5.3.1. Services
5.3.2. Software
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Artificial Intelligence in Telemedicine Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Applications
6.3.1. Virtual Nursing Assistant
6.3.2. Preliminary Diagnosis
6.3.3. Administrative Workflow Assistance
6.3.4. Clinical Trials
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Artificial Intelligence in Telemedicine Market Analysis and Forecast by End Users
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by End Users
7.2.2. Y-o-Y Growth Projections by End Users
7.3. Artificial Intelligence in Telemedicine Market Size and Volume Forecast by End Users
7.3.1. Homecare
7.3.2. Healthcare Facilities
7.3.3. Others
7.4. Absolute $ Opportunity Assessment by End Users
7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global Artificial Intelligence in Telemedicine Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Artificial Intelligence in Telemedicine Demand Share Forecast, 2019-2026
9. North America Artificial Intelligence in Telemedicine Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Types
9.4.1. Services
9.4.2. Software
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. North America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Applications
9.7.1. Virtual Nursing Assistant
9.7.2. Preliminary Diagnosis
9.7.3. Administrative Workflow Assistance
9.7.4. Clinical Trials
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. North America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by End Users
9.10.1. Homecare
9.10.2. Healthcare Facilities
9.10.3. Others
9.11. Basis Point Share (BPS) Analysis by End Users
9.12. Y-o-Y Growth Projections by End Users
9.13. Market Attractiveness/Growth Potential Analysis
9.13.1. By Country
9.13.2. By Product Type
9.13.3. By Application
9.14. North America Artificial Intelligence in Telemedicine Demand Share Forecast, 2019-2026
10. Latin America Artificial Intelligence in Telemedicine Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Types
10.4.1. Services
10.4.2. Software
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Latin America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Applications
10.7.1. Virtual Nursing Assistant
10.7.2. Preliminary Diagnosis
10.7.3. Administrative Workflow Assistance
10.7.4. Clinical Trials
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Latin America Artificial Intelligence in Telemedicine Market Size and Volume Forecast by End Users
10.10.1. Homecare
10.10.2. Healthcare Facilities
10.10.3. Others
10.11. Basis Point Share (BPS) Analysis by End Users
10.12. Y-o-Y Growth Projections by End Users
10.13. Market Attractiveness/Growth Potential Analysis
10.13.1. By Country
10.13.2. By Product Type
10.13.3. By Application
10.14. Latin America Artificial Intelligence in Telemedicine Demand Share Forecast, 2019-2026
11. Europe Artificial Intelligence in Telemedicine Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Types
11.4.1. Services
11.4.2. Software
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Europe Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Applications
11.7.1. Virtual Nursing Assistant
11.7.2. Preliminary Diagnosis
11.7.3. Administrative Workflow Assistance
11.7.4. Clinical Trials
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Europe Artificial Intelligence in Telemedicine Market Size and Volume Forecast by End Users
11.10.1. Homecare
11.10.2. Healthcare Facilities
11.10.3. Others
11.11. Basis Point Share (BPS) Analysis by End Users
11.12. Y-o-Y Growth Projections by End Users
11.13. Market Attractiveness/Growth Potential Analysis
11.13.1. By Country
11.13.2. By Product Type
11.13.3. By Application
11.14. Europe Artificial Intelligence in Telemedicine Demand Share Forecast, 2019-2026
12. Asia Pacific Artificial Intelligence in Telemedicine Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Types
12.4.1. Services
12.4.2. Software
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Asia Pacific Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Applications
12.7.1. Virtual Nursing Assistant
12.7.2. Preliminary Diagnosis
12.7.3. Administrative Workflow Assistance
12.7.4. Clinical Trials
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Asia Pacific Artificial Intelligence in Telemedicine Market Size and Volume Forecast by End Users
12.10.1. Homecare
12.10.2. Healthcare Facilities
12.10.3. Others
12.11. Basis Point Share (BPS) Analysis by End Users
12.12. Y-o-Y Growth Projections by End Users
12.13. Market Attractiveness/Growth Potential Analysis
12.13.1. By Country
12.13.2. By Product Type
12.13.3. By Application
12.14. Asia Pacific Artificial Intelligence in Telemedicine Demand Share Forecast, 2019-2026
13. Middle East & Africa Artificial Intelligence in Telemedicine Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Middle East & Africa Average Pricing Analysis
13.2. Middle East & Africa Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Types
13.4.1. Services
13.4.2. Software
13.5. Basis Point Share (BPS) Analysis by Types
13.6. Y-o-Y Growth Projections by Types
13.7. Middle East & Africa Artificial Intelligence in Telemedicine Market Size and Volume Forecast by Applications
13.7.1. Virtual Nursing Assistant
13.7.2. Preliminary Diagnosis
13.7.3. Administrative Workflow Assistance
13.7.4. Clinical Trials
13.7.5. Others
13.8. Basis Point Share (BPS) Analysis by Applications
13.9. Y-o-Y Growth Projections by Applications
13.10. Middle East & Africa Artificial Intelligence in Telemedicine Market Size and Volume Forecast by End Users
13.10.1. Homecare
13.10.2. Healthcare Facilities
13.10.3. Others
13.11. Basis Point Share (BPS) Analysis by End Users
13.12. Y-o-Y Growth Projections by End Users
13.13. Market Attractiveness/Growth Potential Analysis
13.13.1. By Country
13.13.2. By Product Type
13.13.3. By Application
13.14. Middle East & Africa Artificial Intelligence in Telemedicine Demand Share Forecast, 2019-2026
14. Competition Landscape
14.1. Global Artificial Intelligence in Telemedicine Market: Market Share Analysis
14.2. Artificial Intelligence in Telemedicine Distributors and Customers
14.3. Artificial Intelligence in Telemedicine Market: Competitive Dashboard
14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
14.4.1. Ada Health GmbH
14.4.2. CAE Healthcare Inc.
14.4.3. Cisco Systems, Inc.
14.4.4. HealthTap, Inc.
14.4.5. Hologic, Inc.
14.4.6. IBM
14.4.7. Koninklijke Philips N.V.
14.4.8. LEMONAID HEALTH INC.
14.4.9. Lifesize
14.4.10. Siemens Healthcare GmbH
Methodology
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