Telehealth Market Analysis, Share, Industry & Revenue [2031]

Segments - Global Telehealth Market by Components (Hardware, Software, and Services), Applications (Telemedicine, Teleradiology, Telepathology, Telecardiology, Patient Monitoring, Continuous Medical Education, and Others), Delivery Modes (Cloud-Based Delivery Mode, Web-Based Delivery Mode, and On-Premise Delivery Mode), End-Users (Healthcare Providers, Healthcare Consumers, Payers, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Vishal Golekar

Report Description

The global telehealth market size was valued at around USD 40.3 billion in 2020 and is anticipated to reach more than USD 700 billion by 2028, expanding at a CAGR of around 35% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing usage of smart devices and internet by consumers.

Telehealth is defined as use of electronic information and telecommunication technologies to assist remote clinical health care, health-related education, and health administration. Telehealth usually refers to clinical as well as non-clinical services. Telehealth technologies include internet, videoconferencing, streaming media, store-and-forward imaging, terrestrial communications, and wireless communications.

Telehealth has emerged as an essential factor in healthcare system in recent years. Growing usage of smart devices and widely available internet made healthcare easily available to patients. Healthcare consumers are inclining towards telehealth due to its flexibility, convenience, and rapid results. Rising healthcare costs and technological innovations aids in the growth of the global telehealth market.

Market Trends, Drivers, Restraints, and Opportunities

The COVID-19 pandemic situation drives the telehealth due to social distancing, travel restrictions or limitations, and lack of in-person visits.
The advancements in digital infrastructures and increasing numbers of telehealth platforms propel the market.
Growing prevalence of chronic diseases and conditions as well as rising geriatric population is expected to boost the market during the forecast period.
Usage of telehealth to train medical staff, conduct administrative meetings, and imparting medical education is expected to boost the market.
Increasing inclination of consumers towards user-friendly smartphone applications and wearable devices is expected to drive the market.
Variations in telehealth policies in different regions is anticipated to hinder the market growth.
Issues and frauds related to data put on smartphone applications, cloud repositories, and others can obstruct the market growth.
Increasing awareness about telehealth with its cost-effectiveness and easy access among consumers expected to create lucrative opportunities for the global telehealth market.

Telehealth Market Scope

The report on the Telehealth market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Telehealth Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Components (Hardware, Software, and Services), Applications (Telemedicine, Teleradiology, Telepathology, Telecardiology, Patient Monitoring, Continuous Medical Education, and Others), Delivery Modes (Cloud-Based Delivery Mode, Web-Based Delivery Mode, and On-Premise Delivery Mode), End-Users (Healthcare Providers, Healthcare Consumers, Payers, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	AMC Health; Teladoc Health Inc.; American Well; MDLIVE, Inc.; Doctor on Demand, Inc.; Siemens Healthineers; Cisco Systems, Inc.; Cigna Corporation; Koninklijke Philips N.V.; GE Healthcare; Medtronic; Asahi Kasei Corporation; iCliniq; and Others

Telehealth Market Segment Insights

Software segment is expected to drive the market

On the basis of components, the market is divided into hardware, software, and services. The software segment is expected boost the market during the forecast period. Several of key players are developing new software for virtual consults and remote monitoring.

The healthcare providers are adopting telehealth software continuously in their services to patients. Key players are trying to broaden their reach by incorporating unique specialties such as dermatology, mental health, cardiology, and others in their software developments.

Telemedicine segment dominates the market

Based on applications, the market is segmented into Telemedicine, Teleradiology, Telepathology, Telecardiology, Patient Monitoring, Continuous Medical Education, and Others. The telemedicine segment is expected to expand at a significant rate during the forecast period due to the rising healthcare awareness and increasing acceptance of cloud-based technologies in telemedicine.

Telemedicine improves access of care to every person as well as offers flexibility and convenience to patients and healthcare providers alike. COVID-19 pandemic has propelled the market with the need for social distancing, travel restrictions, and lack of in-person consultations.

Web-based delivery mode accounts for the large share of the market

Based on the delivery modes, the market is segregated into cloud-based delivery mode, web-based delivery mode, and on-premise delivery mode. The web-based delivery mode is expected to drive the market during the forecast period. Rising demand for e-visits, that comparatively costs less than face-to-face consultations, is fueling the market. Technological advances, strategic collaborations, and developments of innovative products aid key players to expand the web-based delivery mode segment.

Healthcare consumer segment is estimated to grow at a rapid speed

On the basis of end-users, the market is segmented into healthcare providers, healthcare consumers, payers, and others. The healthcare consumers are expected to drive the market during the forecast period. Growing number of geriatric population and increasing usage of smart devices and applications to health boosts healthcare consumer segment in the telehealth market.

North America accounts for the largest share in the global telehealth market

On the basis of regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America holds the largest share in the market owing to federal mandates to increase healthcare facilities, increasing focus on improving quality of care, and growing need to reduce COVID-19 cases.

Telehealth solutions are adopted in the region to lessen the increasing load on hospitals and manage patient data. Asia Pacific market is expected to grow during the forecast period as well due to increasing number of chronic diseases.

Segments

The global telehealth market has been segmented on the basis of

Components

Hardware
Software
Services

Applications

Telemedicine
Teleradiology
Telepathology
Telecardiology
Patient Monitoring
Continuous Medical Education
Others

Delivery Modes

Cloud-Based Delivery Mode
Web-Based Delivery Mode
On-Premise Delivery Mode

End-users

Healthcare Providers
Healthcare Consumers
Payers
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

AMC Health
Teladoc Health Inc.
American Well
MDLIVE, Inc.
Doctor on Demand, Inc.
Siemens Healthineers
Cisco Systems, Inc.
Cigna Corporation
Koninklijke Philips N.V.
GE Healthcare
Medtronic
Asahi Kasei Corporation
iCliniq
Others

Competitive Landscape

Key plyers in the global telehealth market are AMC Health; Teladoc Health Inc.; American Well; MDLIVE, Inc.; Doctor on Demand, Inc.; Siemens Healthineers; Cisco Systems, Inc.; Cigna Corporation; Koninklijke Philips N.V.; GE Healthcare; Medtronic; Asahi Kasei Corporation; iCliniq; and Others. They use business strategies like mergers, acquisitions, collaborations, partnerships, and product development and launches to strengthen their hold on the market. For example, in January 2020, Teladoc Health Inc. entered in a contract to acquire In Touch Health to boost telemedicine line and extend its presence across health systems.

In 2022, a telehealth firm, Docty, is planning to open 100 digital health kiosks across three states of India, which are Maharashtra, Telangana, and Andhra Pradesh. Docty has partnered with several offline states, pharmacies, internet cafes, photo-copy centers and others to launch their kiosks where customers can access online consultations with doctors and receive prescriptions.

Global Telehealth Market Share

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Telehealth 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. Telehealth Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Telehealth Market - Supply Chain
  4.5. Global Telehealth Market Forecast
     4.5.1. Telehealth Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Telehealth Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Telehealth Market Absolute $ Opportunity
5. Global Telehealth Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Telehealth Market Size and Volume Forecast by Applications
     5.3.1. Telemedicine
     5.3.2. Teleradiology
     5.3.3. Telepathology
     5.3.4. Telecardiology
     5.3.5. Patient Monitoring
     5.3.6. Continuous Medical Education
     5.3.7. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Telehealth Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Telehealth Market Size and Volume Forecast by End Users
     6.3.1. Healthcare Providers
     6.3.2. Healthcare Consumers
     6.3.3. Payers
     6.3.4. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Telehealth Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Telehealth Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Telehealth Demand Share Forecast, 2019-2026
8. North America Telehealth Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Telehealth Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Telehealth Market Size and Volume Forecast by Applications
     8.4.1. Telemedicine
     8.4.2. Teleradiology
     8.4.3. Telepathology
     8.4.4. Telecardiology
     8.4.5. Patient Monitoring
     8.4.6. Continuous Medical Education
     8.4.7. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Telehealth Market Size and Volume Forecast by End Users
     8.7.1. Healthcare Providers
     8.7.2. Healthcare Consumers
     8.7.3. Payers
     8.7.4. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Telehealth Demand Share Forecast, 2019-2026
9. Latin America Telehealth 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
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Telehealth Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Telehealth Market Size and Volume Forecast by Applications
     9.4.1. Telemedicine
     9.4.2. Teleradiology
     9.4.3. Telepathology
     9.4.4. Telecardiology
     9.4.5. Patient Monitoring
     9.4.6. Continuous Medical Education
     9.4.7. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Telehealth Market Size and Volume Forecast by End Users
     9.7.1. Healthcare Providers
     9.7.2. Healthcare Consumers
     9.7.3. Payers
     9.7.4. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Telehealth Demand Share Forecast, 2019-2026
10. Europe Telehealth 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. Europe Average Pricing Analysis
  10.2. Europe Telehealth Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Telehealth Market Size and Volume Forecast by Applications
     10.4.1. Telemedicine
     10.4.2. Teleradiology
     10.4.3. Telepathology
     10.4.4. Telecardiology
     10.4.5. Patient Monitoring
     10.4.6. Continuous Medical Education
     10.4.7. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Telehealth Market Size and Volume Forecast by End Users
     10.7.1. Healthcare Providers
     10.7.2. Healthcare Consumers
     10.7.3. Payers
     10.7.4. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Telehealth Demand Share Forecast, 2019-2026
11. Asia Pacific Telehealth 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. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Telehealth Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Telehealth Market Size and Volume Forecast by Applications
     11.4.1. Telemedicine
     11.4.2. Teleradiology
     11.4.3. Telepathology
     11.4.4. Telecardiology
     11.4.5. Patient Monitoring
     11.4.6. Continuous Medical Education
     11.4.7. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Telehealth Market Size and Volume Forecast by End Users
     11.7.1. Healthcare Providers
     11.7.2. Healthcare Consumers
     11.7.3. Payers
     11.7.4. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Telehealth Demand Share Forecast, 2019-2026
12. Middle East & Africa Telehealth 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. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Telehealth Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Telehealth Market Size and Volume Forecast by Applications
     12.4.1. Telemedicine
     12.4.2. Teleradiology
     12.4.3. Telepathology
     12.4.4. Telecardiology
     12.4.5. Patient Monitoring
     12.4.6. Continuous Medical Education
     12.4.7. Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Telehealth Market Size and Volume Forecast by End Users
     12.7.1. Healthcare Providers
     12.7.2. Healthcare Consumers
     12.7.3. Payers
     12.7.4. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Telehealth Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Telehealth Market: Market Share Analysis
  13.2. Telehealth Distributors and Customers
  13.3. Telehealth Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. AMC Health
     13.4.2. Teladoc Health Inc.
     13.4.3. American Well
     13.4.4. MDLIVE, Inc.
     13.4.5. Doctor on Demand, Inc.
     13.4.6. Siemens Healthineers
     13.4.7. Cisco Systems, Inc.
     13.4.8. Cigna Corporation
     13.4.9. Koninklijke Philips N.V.
     13.4.10. GE Healthcare
     13.4.11. Medtronic
     13.4.12. Asahi Kasei Corporation
     13.4.13. iCliniq
     13.4.14. Others