The United States telehealth market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Telehealth has enabled cost-effective treatment, the adoption of home healthcare services, and low infrastructure development expenditures. Telecommunications and healthcare systems are being integrated more than ever before with the rapid development of advanced technology to ensure easy flow of communication between medical staffs and patients. Telehealth is revolutionizing the healthcare industry because it reduces hospital visits by patients that lead to substantial cut in the health expenditures.
The report on the United States telehealth market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
United States Telehealth Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Modalities (Real-time Virtual Health, Remote Patient Monitoring, and Store & Forward), Components (Service, Hardware, and Software), Applications (Chronic Care, Radiology, Mental Health, OB/GYN, Urgent Care, and Others), Delivery Modes (Web/App-based Telehealth, Cloud-based Telehealth, and On-premise Telehealth), End-users (Healthcare Providers, Patients & Individuals, Employers & Government Organizations, and Payers) |
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 |
AMD Global Telemedicine; American Well; BioTelemetry; GlobalMedia Group; InTouch Health; Koninklijke Philips; Medtronic; Resideo Life Care Solutions; Teladoc Health; and Vivify Health |
Based on modalities, the United States telehealth market is fragmented into real-time virtual health, remote patient monitoring, and store & forward. The real-time virtual health segment accounted for a key market share in 2020 and is expected to retain its dominance during the forecast period. The segment growth is attributed to wide applications of the real-time virtual care in various healthcare examination and increasingly utilized of modality in remote ICUs as a result of the COVID-19 pandemic. However, the remote patient monitoring segment is expected to grow at a healthy rate in the coming years owing to growing prevalence of chronic diseases among the elderly people including cardiovascular diseases, diabetes, and respiratory diseases.
On the basis of components, the market is segmented into service, hardware, and software.
The services segment is anticipated to grow at a rapid CAGR during the forecast period due to the rising focus shifts to patient-centered, value-based care from conventional hospital-centric, and fee-per-service models. Furthermore, the growing demand for low-cost treatments and availability of various updated health care services is expected to drive the segment growth. However, limited insurance coverage particularly by Medicare as well as issues related to the ambiguous regulatory framework adopted by various states especially by the US Federal government, are expected to limit market growth during the forecast period.
In terms of applications, the United States telehealth market is segregated into chronic care, radiology, mental health, OB/GYN, urgent care, and others. The chronic care segment is expected to dominate the market in the coming years owing to wide applications of the service for the management and consultation of chronic illness, which constitutes a major source of concern for healthcare providers. Managing diseases such as diabetes, hypertension, and cancer have become a major challenge as these diseases had affected a huge number of the US population.
Based on delivery models, the market is divided into web/app-based telehealth, cloud-based telehealth, and on-premise telehealth. The web-based delivery models segment is projected to grow significantly in the coming years due to high demand of the model as these method involves less installation costs. This model require few software and hardware components to deliver telehealth solutions, as a result, the adoption of web-based services is rapidly increasing and better choice for patients. The segment is further accelerated as emerging economies have embraced telehealth technology in most healthcare facilities in remote and rural areas.
On the basis of end-users, the United States telehealth market is segmented into healthcare providers, patients & individuals, employers & government organizations, and payers. The healthcare providers segment is expected to grow incrementally during the forecast period owing to the inclusion of telehealth services in disease management and post-acute-care management programs. Several prestigious hospitals are implementing these services to improve profitability, attract and retain many patients, and reduce re-admissions of patients. As telehealth services and remote patient monitoring devices are increasing, hospitals are focusing on enhancing telehealth infrastructure to meet the growing demand, thereby, increasing the segment growth. Further, the increasing collaboration between hospitals and market vendors is expected to boost the adoption of tele-ICUs.
Key players in the United States telehealth market are AMD Global Telemedicine; American Well; BioTelemetry; GlobalMedia Group; InTouch Health; Koninklijke Philips; Medtronic; Resideo Life Care Solutions; Teladoc Health; and Vivify Health. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
Key players in the United States telehealth market are AMD Global Telemedicine; American Well; BioTelemetry; GlobalMedia Group; InTouch Health; Koninklijke Philips; Medtronic; Resideo Life Care Solutions; Teladoc Health; and Vivify Health. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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