Telemedicine Market Size & Share | Global Trends 2028

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Telemedicine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Telehospital, and Telehome); Product and Services (Software and Hardware, Tele-Consulting, Tele-Monitoring, and Tele-Education/Training); Specialty (Cardiology, Gynecology, Neurology, Orthopedics, Dermatology, Mental Health, and Others); Delivery Mode (Mobile, Call Centers, and Web); and Geography

Publication Month: Apr 2021 | Report Code: TIPRE00018287 | No. of Pages: 200 | Category: Healthcare IT | Status: Published

The telemedicine market was valued at US$ 51,094.75 million in 2020 and is projected to reach US$ 199,544.64 million by 2028; it is expected to grow at a CAGR of 18.6% during 2021–2028.

The rising incidence of chronic diseases is a global concern, and these diseases cause extra financial burden on healthcare sectors. Telehomecare is a pioneering way to provide care, monitor patients, and transmit information by using latest telecommunication technologies. Monitoring allows early-stage identification of disease, thus preventing chronic disease conditions. Telehome systems can be used to track and support patients with a variety of respiratory and chronic conditions that can be treated without the need of hospital visits. Furthermore, telehome services could also help reduce communications in person and lower the spread of communicable diseases. The implementation of telehome services also benefits patients economically and lowers the burden on physicians. According to the World Health Organization (WHO), chronic diseases are the leading causes of death worldwide, accounting for 60% of total deaths. Among all chronic diseases, cardiovascular diseases (CVDs) are the leading cause of deaths. The prevalence of chronic diseases such as cancer, CVDs, stroke, respiratory diseases, and diabetes is increasing due to alterations in lifestyle and lack of access to preventive care. The causes of chronic diseases may vary from genetic disposition to environmental factors and oxidative stress. The rising incidence of these chronic diseases is propelling the demand and adoption of telemedicine platforms.

Lucrative Regions for Telemedicine Market

Lucrative Regions for Telemedicine Market

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Market Insights

Telehomecare programs introduced in different countries include the Whole System Demonstrator (WSD) project in the UK, Veterans’ Health Segmentation (VHA) project in the US, and the TELEKART program in Denmark. These telehomecare programs aim at assisting in reducing, managing, and preventing the occurrence of chronic diseases by remote monitoring of patients. In addition, in 2018, UNICEF developed RapidPro, a unique and innovative dashboard-system, to help the Malaria Sub-directorate of the Ministry of Health (MoH) in keeping track of health; the system is in effect since 2018, spanning 20 provinces and 20,000 villages. UNICEF is likely to continue to refine and expand the use of telemedicine tools to enhance the capabilities of communities and governments to manage HIV and malaria infections, awareness, immunization, and integrated national data as well as to ensure the long-term sustainability and scalability of the RapidPro program, as it is gradually being handed over to the government

Type: Technology Insights

In terms of type, the global telemedicine market is bifurcated into telehospital and telehome. In 2020, the telehome segment accounted for a larger market share. The market growth for this segment can be attributed to the key driving factors such as rising geriatric population, growing prevalence of chronic diseases and conditions, and shortage of physicians.

Telemedicine Market, by Type – 2019 and 2027

Telemedicine Market, by Type – 2019 and 2027

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Delivery Mode: Insights

Based on delivery mode, the global telemedicine market is segmented into mobile, web, and call centers. The mobile segment held the largest market share in 2020, and it is expected to register the highest CAGR during the forecast period. Mobile telephone devices are an important component of the telemedicine system. Through a mobile, patients and healthcare providers can communicate and exchange data. Smartphones are extensively used worldwide. Telemedicine applications and software can be operated to manage data. By using mobile devices, through internet connections, patient data can be transferred and managed remotely. The increasing internet penetration in developing countries is expected to support the growth of the telemedicine market.

Strategic Insights

Report Coverage - Telemedicine Market
Report CoverageDetails
Market Size Value inUS$ 51,094.75 Million in 2020
Market Size Value byUS$ 199,544.64 Million by 2028
Growth rateCAGR of 18.6% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages200
No. of Tables112
No. of Charts & Figures80
Historical data availableYes
Segments coveredType ; Product and Services ; Specialty ; Delivery Mode ; and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Collaborations and technology partnerships by the players operating in the telemedicine market to bridge the demand–supply gap are anticipated to play a significant role in the growth of the market during the forecast period.

By Product and Services

  • Software and Hardware
  • Tele-Consulting
  • Tele-Monitoring
  • Tele-Education/Training

By Type

  • Telehospital
  • Telehome

By Speciality

  • Cardiology
  • Gynecology
  • Neurology
  • Orthopedics
  • Dermatology
  • Mental Health
  • Others

By Delivery Mode

  • Mobile
  • Call Centres
  • Web

By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific

    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East and Africa

    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of Middle East and Africa
  • South and Central America

    • Brazil
    • Argentina
    • Rest of South and Central America 

Company Profiles

  • Allscripts Healthcare Solutions, Inc.
  • Amd Global Telemedicine, Inc.
  • American Well Corporation
  • Biotelemetry, Inc. (Philips)
  • Teladoc Health
  • Cerner Corporation
  • Cisco Systems, Inc.
  • Eagle Telemedicine Solutions Llc
  • Insight
  • Koninklijke Philips N.V
  • McKesson Corporation
  • Honeywell International, Inc.
  • Insight
  • Mckesson Corporation

The List of Companies - Telemedicine Market

  1. Allscripts Healthcare Solutions, Inc.
  2. Amd Global Telemedicine, Inc.
  3. American Well Corporation
  4. Biotelemetry, Inc. (Philips)
  5. Teladoc Health
  6. Cerner Corporation
  7. Cisco Systems, Inc.
  8. Eagle Telemedicine Solutions Llc
  9. Insight
  10. Koninklijke Philips N.V
  11. McKesson Corporation
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the telemedicine market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global telemedicine market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
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