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With a CAGR of 20.7% from 2023 to 2030, the worldwide telehealth market is expected to rise from USD 142.99 billion in 2023 to USD 504.28 billion by 2030, from a value of USD 128.19 billion in 2022.
There has been a significant uptick in the use of telehealth, particularly in the fields of radiology, cardiology, behavioural health, and online consultation. Rising start-up investment and the introduction of new products, particularly in the area of virtual consultations, have led to a major expansion in the industry. For instance, Koninklijke Philips N.V. bolstered its position in the market by introducing a Virtual Care Management portfolio in March 2023. The program's goals include lowering healthcare costs and making life easier for hospital workers. To combat the growing mental health crisis, American Well also introduced its Comprehensive Behavioural Health Programme in January 2023. Providers of medical care use this platform to deliver a comprehensive range of services, including telepsychiatry, teletherapy, coaching, and digital mental health solutions. It is expected that the global market will expand due to the convergence of the aforementioned variables.
The telehealth market is being shaped by a number of different factors, including drivers, restraints, and opportunities. The industry is now being driven by a number of reasons, including an ageing population, an increase in chronic diseases, and a shortage of doctors in the United States. Market expansion is being stymied, however, by factors such as a low success rate in reducing outpatient visits and worries related with the protection of medical data. However, experts predict that the telehealth market will be largest in North America. Telehealth refers to the delivery of health-related services and information using electronic and/or wireless means of communication. It's as basic as two doctors talking about a patient over the phone before a robotic surgery is performed at two different hospitals on opposite sides of the world. With telehealth, patients have better outcomes because doctors may examine them in clinical order, using established medical criteria. In addition, it facilitates clinical staffs' use of the healthcare specialist network to provide superior care to patients and communities.
As the global cancer rate continues to rise, the market is expected to expand rapidly. This increased demand for medical treatment is likely to strain healthcare systems already struggling to cope with a worldwide physician and nurse deficit. As a result, sales in the Telehealth Market will rise. By 2030, the World Health Organisation predicts, there will be a lack of 15 billion healthcare personnel in institutions; this scarcity will spur the adoption of artificial intelligence in the treatment and diagnosis of patients, expand access to healthcare to underserved areas, and reduce overall healthcare costs. Thanks to telehealth, people in far-flung areas have access to medical care in a digital and virtual setting. Reducing the need for in-person medical care delivery mechanisms like hospitals and emergency rooms is one of the many benefits of technological advancements in modern healthcare. Despite the upsides, concerns about cyber security, data privacy, and the high cost of adopting the services are expected to slow the industry's expansion.
Innovators have begun allocating resources towards capitalising on the current state of the industry by concentrating on providing quality healthcare and comfort via a variety of mobile platforms, which would enable patients to keep track of their fitness routines and get answers to medical questions via phone, WhatsApp, or a number of mobile applications. For example, a number of apps including Teladoc Health, Doctor Anywhere, Doctor On Call, and ClicknCare have been developed to assist users in scheduling appointments, keeping tabs on their consultations and medications, and storing their health records. Such occurrences are contributing to the expansion of the market.
According to recent research on the state of the international telehealth industry, care is increasingly being provided in non-clinical settings. The traditional office visit is giving way to virtual visits via video or audio. The popularity of e-visits has skyrocketed for a number of reasons, including the low cost of teleconsultations, shorter wait times in the Outpatient Department (OPD), and the convenience of the service. This has resulted in an increase in the number of new enterprises entering the market, and an increase in investment from private equity groups. Tyto Care, an Israeli startup that makes equipment for remote clinical tests, obtained USD 50 million from Insights Partners in April 2020 so that it could extend its offerings in the United States, Asia, and Europe.
Report Coverage
Global Telehealth research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Telehealth report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Telehealth competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Telehealth market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Telehealth market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Telehealth market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Teladoc Health, Inc. (U.S.), Siemens (Germany), Cisco Systems, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), IBM (U.S.), Oracle (U.S.), Medtronic (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Tunstall Group (U.K.), American Well (U.S.), CareCloud, Inc. (U.S.), eClinicalWorks (U.S.), AMD Global Telemedicine (U.S.), Preventice Solutions, TeleSpecialists, AMC Health, GE Healthcare, Chiron Health, Honeywell International Inc. (US), Allscripts Healthcare Solutions (US), Right Health (Canada), Boston Scientific Corporation (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Telehealth market based on the below-mentioned segments:
Global Telehealth Market, By Product Type
Hardware
Software
Services
Global Telehealth market, By Application
Radiology
Cardiology
Primary Care
Neurophysiology
Others
Global Telehealth Market, By End User
Providers
Payers
Patients
Global Telehealth market, Regional Analysis
There has been a significant uptick in the use of telehealth, particularly in the fields of radiology, cardiology, behavioural health, and online consultation. Rising start-up investment and the introduction of new products, particularly in the area of virtual consultations, have led to a major expansion in the industry. For instance, Koninklijke Philips N.V. bolstered its position in the market by introducing a Virtual Care Management portfolio in March 2023. The program's goals include lowering healthcare costs and making life easier for hospital workers. To combat the growing mental health crisis, American Well also introduced its Comprehensive Behavioural Health Programme in January 2023. Providers of medical care use this platform to deliver a comprehensive range of services, including telepsychiatry, teletherapy, coaching, and digital mental health solutions. It is expected that the global market will expand due to the convergence of the aforementioned variables.
The telehealth market is being shaped by a number of different factors, including drivers, restraints, and opportunities. The industry is now being driven by a number of reasons, including an ageing population, an increase in chronic diseases, and a shortage of doctors in the United States. Market expansion is being stymied, however, by factors such as a low success rate in reducing outpatient visits and worries related with the protection of medical data. However, experts predict that the telehealth market will be largest in North America. Telehealth refers to the delivery of health-related services and information using electronic and/or wireless means of communication. It's as basic as two doctors talking about a patient over the phone before a robotic surgery is performed at two different hospitals on opposite sides of the world. With telehealth, patients have better outcomes because doctors may examine them in clinical order, using established medical criteria. In addition, it facilitates clinical staffs' use of the healthcare specialist network to provide superior care to patients and communities.
As the global cancer rate continues to rise, the market is expected to expand rapidly. This increased demand for medical treatment is likely to strain healthcare systems already struggling to cope with a worldwide physician and nurse deficit. As a result, sales in the Telehealth Market will rise. By 2030, the World Health Organisation predicts, there will be a lack of 15 billion healthcare personnel in institutions; this scarcity will spur the adoption of artificial intelligence in the treatment and diagnosis of patients, expand access to healthcare to underserved areas, and reduce overall healthcare costs. Thanks to telehealth, people in far-flung areas have access to medical care in a digital and virtual setting. Reducing the need for in-person medical care delivery mechanisms like hospitals and emergency rooms is one of the many benefits of technological advancements in modern healthcare. Despite the upsides, concerns about cyber security, data privacy, and the high cost of adopting the services are expected to slow the industry's expansion.
Innovators have begun allocating resources towards capitalising on the current state of the industry by concentrating on providing quality healthcare and comfort via a variety of mobile platforms, which would enable patients to keep track of their fitness routines and get answers to medical questions via phone, WhatsApp, or a number of mobile applications. For example, a number of apps including Teladoc Health, Doctor Anywhere, Doctor On Call, and ClicknCare have been developed to assist users in scheduling appointments, keeping tabs on their consultations and medications, and storing their health records. Such occurrences are contributing to the expansion of the market.
According to recent research on the state of the international telehealth industry, care is increasingly being provided in non-clinical settings. The traditional office visit is giving way to virtual visits via video or audio. The popularity of e-visits has skyrocketed for a number of reasons, including the low cost of teleconsultations, shorter wait times in the Outpatient Department (OPD), and the convenience of the service. This has resulted in an increase in the number of new enterprises entering the market, and an increase in investment from private equity groups. Tyto Care, an Israeli startup that makes equipment for remote clinical tests, obtained USD 50 million from Insights Partners in April 2020 so that it could extend its offerings in the United States, Asia, and Europe.
Report Coverage
Global Telehealth research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Telehealth report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Telehealth competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Telehealth market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Teladoc Health, Inc. (U.S.), Siemens (Germany), Cisco Systems, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), IBM (U.S.), Oracle (U.S.), Medtronic (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Tunstall Group (U.K.), American Well (U.S.), CareCloud, Inc. (U.S.), eClinicalWorks (U.S.), AMD Global Telemedicine (U.S.), Preventice Solutions, TeleSpecialists, AMC Health, GE Healthcare, Chiron Health, Honeywell International Inc. (US), Allscripts Healthcare Solutions (US), Right Health (Canada), Boston Scientific Corporation (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Telehealth Market from 2021 to 2030.
- Market Forecast for Telehealth Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Telehealth competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Telehealth
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Telehealth market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Telehealth market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Teladoc Health, Inc. (U.S.), Siemens (Germany), Cisco Systems, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), IBM (U.S.), Oracle (U.S.), Medtronic (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Tunstall Group (U.K.), American Well (U.S.), CareCloud, Inc. (U.S.), eClinicalWorks (U.S.), AMD Global Telemedicine (U.S.), Preventice Solutions, TeleSpecialists, AMC Health, GE Healthcare, Chiron Health, Honeywell International Inc. (US), Allscripts Healthcare Solutions (US), Right Health (Canada), Boston Scientific Corporation (US)
Primary Target Market
- Market Players of Telehealth
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Telehealth market based on the below-mentioned segments:
Global Telehealth Market, By Product Type
Hardware
Software
Services
Global Telehealth market, By Application
Radiology
Cardiology
Primary Care
Neurophysiology
Others
Global Telehealth Market, By End User
Providers
Payers
Patients
Global Telehealth market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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