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Global Telehealth Market – Industry Trends and Forecast to 2030

  • Healthcare
  • Upcoming Report
  • Mar 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Telehealth Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 25.5% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 83.50 Billion
Diagram Market Size (Forecast Year) USD 513.85 Billion
Diagram CAGR 25.5%

Global Telehealth Market, By Type (Software, Systems, Hardware, Telecommunication) Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, On-Premise Delivery Mode) Application (General Consultation, Pathology, Cardiology, Surgery, Gynecology, Neurology, Radiology, Dermatology, Ophthalmology, Orthopedics, Others) End User (Hospital Telehealth, Physician Telehealth, Home Telehealth) – Industry Trends and Forecast to 2030.

Telehealth Market Analysis and Size

With the increasing adoption of smartphones and the huge availability of technologically advanced devices, the market is witnessing huge growth. As per WHO, healthcare facilities are expected to witness a shortage of 15 million healthcare professionals by 2030; this is anticipated to increase the adoption of AI for the treatment and diagnosis of patients and enhance the accessibility of healthcare services in remote locations and minimize healthcare expenses. The increasing number of COVID-19 cases in Asia-Pacific increased the adoption of digital health platforms for remote healthcare services.

Data Bridge Market Research analyses a growth rate in the telehealth market in the forecast period 2023-2030. The expected CAGR of the telehealth market tends to be around 25.5% in the mentioned forecast period. The market was valued at USD 83.5 billion in 2022 and will grow to USD 513.85 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Telehealth Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Type (Software, Systems, Hardware, Telecommunication) Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, On-Premise Delivery Mode) Application (General Consultation, Pathology, Cardiology, Surgery, Gynecology, Neurology, Radiology, Dermatology, Ophthalmology, Orthopedics, Others) End User (Hospital Telehealth, Physician Telehealth, Home Telehealth)

Countries Covered

U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Global in Global, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

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.)

Market Opportunities

  • Increasing Use of AI and ML Algorithms
  • Growing Strategic Collaborations and Acquisitions by Market Players

Market Definition

Telehealth means using communication technologies and digital information to access health care services remotely and manage health care. Telehealth enables caregivers and nurses to constantly connect while providing physicians with real-time patient health information. Telehealth facilities utilize technology to deliver long-distance health education to enhance customer outcomes.    

Global Telehealth Market Dynamics

Drivers

  • Increase in Healthcare Digitalization Activities and Government Initiatives

Growing healthcare digitalization activities and increasing government initiatives in remote patient monitoring are expected to increase the market's growth over the upcoming years. For instance, the Indian Government launched National Telemedicine Service or eSanjeevaniOPD, which will complete about 1.2 crore teleconsultations by 2021. In addition, increasing campaigns by the Government and non-governmental organizations for the high use of telehealth and remote patient monitoring services for long-term care services is also expected to increase the global market growth. Thus, this factor increases the growth of the market.  

  • Growing Use of  Web-and Cloud-Based Platforms

The launch of the web- and cloud-based platforms, which provide virtual care to users, are anticipated to increase the industry growth. For instance, CVS partnered with Teladoc to launch CVS Health's Aetna Virtual Primary Care in 2021. The partnership was done so that CVS Health will use Teladoc's physician network to deliver virtual care services to patients remotely through video consultations, decreasing the patient's dependency on in-person consultations and visits. Thus, this factor boosts market growth.

Opportunities

  • Increasing Use of AI and ML Algorithms

The wide application of AI and ML algorithms is increasing the customization of healthcare services. For instance, Haldoc's telehealth platform, combined with AI, offers its physicians feedback from the patients on their consultations and provides training programs that help in performance improvement. Numerous insurance companies and healthcare providers have teamed up to develop new strategies to surge the adoption of telehealth services and applications. Thus, this factor boosts market growth.

  • Growing Strategic Collaborations and Acquisitions by Market Players

The increasing rate of collaboration and acquisitions by major market players and the increasing number of startups in the market is expected to increase the market growth. For instance, in 2021, doctor Anywhere, a Singapore-based company, acquired one of the largest telemedicine platforms in Thailand, Doctor Raksa. This platform served over a million customers with e-prescriptions, electronic medical summaries, online doctor and pharmacist consultations, and prescription refills. Therefore, these kinds of acquisitions will surge the market growth.

Restraints/Challenges

  • Behavioral Interferences Using a Remote Monitoring System

Physicians and patients often lack familiarity with several new practices and face difficulty in practicing new devices. Elderly people may also deny using telehealth and telemedicine services due to unfamiliarity with technology. Behavioral barriers impose major challenges to telehealth and telemedicine adoption. Therefore, all these factors impede the growth of the market.

This telehealth market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the telehealth market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • 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 2020, Oracle acquired Cerner Corp. with a 69.2% stake. After the acquisition, both companies will mainly focus on codeveloping advanced healthcare analytics solutions and increasing their product portfolio and business footprint.

Global Telehealth Market Scope

The telehealth market is segmented on the basis of type, delivery mode, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Software
  • Systems
  • Hardware
  • Telecommunication

Delivery Mode  

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

Application

  • General Consultation
  • Pathology
  • Cardiology
  • Surgery
  • Gynecology
  • Neurology
  • Radiology
  •  Dermatology
  • Ophthalmology
  • Orthopedics
  • Others

End User

  • Hospital Telehealth
  • Physician Telehealth
  • Home Telehealth

Telehealth Market Regional Analysis/Insights

The telehealth market is analyzed and market size insights and trends are provided by type, delivery mode, application and end user as referenced above.

The major countries covered in the telehealth market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Global in Global, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the telehealth market because of increased healthcare awareness. Additionally, the growing adoption of cloud-based technologies is also increasing the market growth during the forecast period. The presence of major market players in the region and the development of startups will also lead to the adoption of telehealth platforms in the region.

Asia-Pacific is expected to have the highest growth rate in the forecast period due to the increasing elderly population and growing integration of digital healthcare facilities. Furthermore, the increase in virtual healthcare delivery platforms for electronic health records and patient therapy systems is also increasing the market growth.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The telehealth market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for telehealth market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the telehealth market. The data is available for historic period 2011-2021.

Competitive Landscape and Global Telehealth Market Share Analysis

The telehealth market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to telehealth market

Key players operating in the telehealth market include:

  • 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 (United Kingdom)
  • American Well (U.S.)
  • CareCloud, Inc. (U.S.)
  • eClinicalWorks (U.S.)
  •  AMD Global Telemedicine (U.S.) 


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Growing Use of Web-and Cloud-Based Platforms, Increase in Healthcare Digitalization Activities, and Government Initiatives are the growth drivers of the Telehealth Market.
The Telehealth Market growth rate is 25.5% during the forecast period.
The Telehealth Market size will be worth USD 513.85 billion by 2030 during the forecast period.
The type, delivery mode, application, and end-user are the factors on which the Telehealth Market research is based.
The major companies in the Telehealth Market are 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.)
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