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The global telehealth market size is estimated to grow by USD 368.7 billion at a CAGR of 40.06% between 2023 and 2028. The market is driven by escalating instances of chronic diseases and a growing requirement for remote patient monitoring, fostering improved patient engagement. Yet, substantial hurdles in the form of privacy and data security concerns impede market expansion. Despite these challenges, opportunities abound, notably the rising demand for technology and funding to facilitate expansion, promising a favorable trajectory for market growth. As healthcare systems increasingly adopt telehealth solutions to address patient needs and streamline healthcare delivery, the market is poised for significant advancement. With a focus on overcoming challenges in telemedicine and leveraging emerging opportunities, telehealth stands poised to revolutionize healthcare access and delivery in the digital age.
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The Telehealth market is experiencing rapid growth, driven by the demand for cost-effective solutions and efficient healthcare delivery. Leveraging AI functionalities and deep learning, telehealth platforms offer personalized services across various medical specialties such as radiology, cardiology, and behavioral health. With the rise of online consultation and continuous medical education, healthcare providers can deliver real-time care and collaborate through store-and-forward methods. Remote healthcare solutions integrate hardware, telecommunication services, and software to enable seamless patient-provider interactions. Whether through cloud-based or on-premise delivery modes, telehealth systems offer integrated solutions for group or individual purchase, catering to diverse healthcare needs. As telehealth becomes increasingly accessible, it fosters a shift towards general consultation accessibility, promoting broader healthcare access and improving patient outcomes. Telehealth is also transforming the management of primary biliary cholangitis therapeutics by providing patients with convenient access to specialist consultations and ongoing monitoring.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing incidences and prevalence of chronic diseases such as cardiovascular diseases (CVDs), cancer, Alzheimer's disease, asthma, chronic obstructive pulmonary diseases (COPDs), and diabetes are fueling the demand for services and solutions. Various factors, such as the adoption of sedentary lifestyles, physiological changes in the body, and unhealthy diets, play a major role in increasing the incidence of chronic diseases. The use of telehealth helps in the effective management of chronic diseases and helps patients consult medical professionals in time by using mobile devices, live videos, and other smart digital tools. It enables cost-effective patient management by minimizing hospitalizations and frequent visits to hospitals and clinics.
The number of cancer cases is increasing across the globe. For instance, according to the CDC, in the US, 23.31 million adults aged 18 years and above were diagnosed with cancer in 2018. The increasing number of people with cancer is increasing the cost burden on patients and governments. For instance, in 2021, the CDC stated that the cost of cancer care is expected to increase by USD 174 billion by 2022 in the US. As the incidence of these chronic diseases is increasing, the need for providing cost-effective care to patients in remote locations is also growing. This will spur the growth of the market during the forecast period.
The market is rapidly growing due to technological advances in healthcare. Healthcare professionals are using tools such as mobile health (mHealth), AI, machine learning, and IoT to provide high-quality, remote patient care. mHealth, which allows healthcare providers to monitor patients and communicate with them easily, is a popular approach.
Research institutes are developing advanced mHealth technology, such as a sensor-embedded toilet seat for monitoring congestive heart failure patients. AI and other analytical tools are being integrated into solutions to enhance medical decision-making and make healthcare systems more efficient. Vendors are extending their analytical tool capabilities, such as Koninklijke Philips NV's Sentry Score, which predicts patient health risks using vital sign data for earlier intervention.
Privacy and data security concerns are major challenges impeding market growth. They have become an effective alternative to traditional healthcare delivery methods. Technological advancements have widened the scope for better healthcare services for patients. The collection and aggregation of data such as patient health details, clinical information, and others are integral and an important part of providing patient care with this technology. Routine data is shared with medical professionals from patients' medical devices or mobile applications for routine monitoring of his/her health.
Moreover, unauthorized access to medical data, data theft, data breaches, hacking by unauthorized people or data hackers, and the loss of data during the transmission of patient data on cloud-based networks are major threats that are expected to hamper the uptake of these services to a certain extent. Therefore, this can restrict the market's growth during the forecast period.
The Telehealth market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the Telehealth market growth analysis report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Included Health Inc. - The company offers a healthcare navigation platform focused on making the healthcare system work better. The key offerings of the company include these solutions.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the services segment will be significant during the forecast period. They include a wide array of remote healthcare services. Live video conferencing, remote patient monitoring, and mobile health (mHealth) are the major clinical benefits of these services that enable healthcare professionals to provide effective and accurate consultations remotely. In addition to clinical services, these services also provide non-clinical services such as administrative meetings, training of healthcare providers, and health administration. Increasing technological advances and improved internet services are the major factors contributing to the increasing adoption of these services by healthcare providers and payers.
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The services segment was the largest and was valued at USD 12.70 billion in 2018. The increasing uptake of these services by healthcare providers has increased the demand for a comprehensive range of clinical and non-clinical services in the healthcare industry. Prominent vendors offer various services. For instance, Iris Telehealth offers telepsychiatry services that help in providing quality psychiatric care in hospital settings. Improving patient outcomes, improving the morale of physicians, significant cost savings, and the capability of improved CPT code capture are the major factors contributing to the easy uptake of this service by hospitals and clinics. Through telepsychiatry services, healthcare professionals from hospitals can provide consultation on time, which helps in the timely assessment, treatment, and disposition of patients. Furthermore, a dearth of mental health professionals and difficulties in providing access to mental healthcare in rural areas have also increased the demand for telepsychiatry services. Thus, owing to such factors the segment is expected to grow during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and analysis and drivers that shape the market during the forecast period. In 2023, North America accounted for a major share of the global market mainly due to the increasing incidences of chronic diseases such as cancer and cardiovascular diseases (CVDs), the adoption of advanced technologies in telehealth, increasing healthcare expenditure, and the presence of many prominent vendors. The increasing prevalence of such chronic diseases has significantly increased the cost burden on healthcare providers as well as on patients. Therefore, the demand for reducing overall healthcare costs is increasing the adoption of this technology by healthcare providers and patients, thereby boosting the growth of the market in North America.
In addition, universities, hospitals, and government and non-government organizations are focusing on funding and grants to expand these programs in the US. Increasing initiatives to expand these programs will drive the growth of the market in the US. Moreover, the presence of global and local players such as American Well Corp. in the region is also driving the growth of the market. American Well Corp. provides a comprehensive range of these solutions for health systems, health plans, employers and brokers, governments, and nursing facilities. Furthermore, vendors are focusing on various strategies to expand their shares in the market. For instance, in June 2019, American Well agreed with Cisco Systems to expand its services from hospitals and health systems to homes. Through this initiative, the companies transformed these options for elderly patients. Such initiatives will drive the market in North America during the forecast period.
The Telehealth market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The Telehealth market is witnessing exponential growth, driven by the demand for efficient healthcare solutions and personalized services. With the prevalence of cancer and the adoption of AI in healthcare, telehealth platforms offer specialized care across various medical specialties like radiology, psychiatry, and pathology. Service providers cater to diverse segments including providers, payers, and the geriatric population through integrated systems and cloud-based delivery modes. From hospital telehealth to home telehealth, telemedicine bridges the gap between patients and healthcare professionals, enabling virtual consultations and remote monitoring for respiratory illnesses and vital signs. With the rise of digital technology and telecommunications, telehealth expands its reach, empowering patients with mobile health applications and wearable devices for managing musculoskeletal conditions and accessing electronic health records seamlessly.
In addition, with widespread AI adoption, telehealth platforms offer specialized services across various medical specialties like radiology, psychiatry, and neurology through the software segment. Leveraging cloud-based delivery modes, providers ensure seamless access to care for patients, while teletherapy and telepharmacy services cater to diverse needs remotely. Both providers and payers benefit from integrated healthcare provider systems, facilitating efficient operations and reimbursement processes. Telehealth expands beyond traditional boundaries, encompassing surgery, gynecology, orthopedics, and ophthalmology with physician telehealth services. With the proliferation of mHealth applications and health monitoring tools, patients can engage in remote monitoring and manage their health effectively, ushering in a new era of accessible and comprehensive digital health solutions.
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Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 40.06% |
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Market Growth 2024-2028 |
USD 368.7 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
31.43 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 33% |
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Key countries |
US, UK, China, Germany, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aerotel Medical Systems Ltd., American Well Corp., Appello Careline Ltd., Cisco Systems Inc., Dictum Health Inc., Enghouse Systems Ltd., Evernorth Health Inc., General Electric Co., GlobalMedia Group LLC, Hewlett Packard Enterprise Co., Honeywell International Inc., Included Health Inc., Iris Telehealth, Koninklijke Philips N.V., Medvivo Group Ltd., Oracle Corp., Resideo Technologies Inc., Siemens AG, Teladoc Health Inc., and Tunstall Healthcare Group Ltd. |
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Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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