The "Telemedicine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report by IMARC Group offers a detailed analysis of the industry, including telemedicine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is The Telemedicine Market?
The global telemedicine market size reached US$ 59.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 218.0 Billion by 2028, exhibiting a growth rate (CAGR) of 21.9% during 2023-2028.
What are Telemedicine?
Telemedicine, or telehealth, is a solution that enables medical practitioners to provide clinical and non-clinical services, including consultation, diagnosis, examination, treatments, etc., to patients through digital telecommunications technology. They can be categorized into tele-hospitals, mobile health or mHealth, tele-homes, etc. These telemedicine systems can be executed with the utilization of video conferencing and remote patient monitoring or RPM systems. They help to renew or write a prescription, deliver health information, and offer appropriate medical attention to patients at lower costs and improved convenience. Consequently, telemedicine services are in widespread demand across the globe.
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What Are The Growth Prospects And Trends In The Telemedicine Industry?
The growing digitization in the medical industry across countries, owing to the increasing technological improvements for making healthcare affordable for and accessible to the masses, is primarily driving the telemedicine market. Additionally, the rising integration of advanced technologies, which include machine learning (ML), artificial intelligence (AI), and the Internet of Things (IoT), is acting as another significant growth-inducing factor. Besides this, the elevating proliferation of e-visits and the expanding radiology, cardiology, and mental health segments, that is promoting the development of new business and healthcare models, are also positively influencing the global market. Moreover, the inflating prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, and escalating technological advancements, including the incorporation of chatbots and robots on web portals and smartphone applications to acquire personal- and health-related information, are further propelling the global market. Apart from this, the introduction of innovative smart medicine cabinets is expected to bolster the telemedicine market over the forecasted period.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Product
- Hardware
- Software
- Others
- Services
- Tele-consulting
- Tele-monitoring
- Tele-education
Breakup by Modality:
- Real-time
- Store and Forward
- Others
Breakup by Delivery Mode:
- Web/Mobile
- Audio/Text-based
- Visualized
- Call Centers
Breakup by Facility:
- Tele-hospital
- Tele-home
Breakup by Application:
- Teledermatology
- Teleradiology
- Telepsychiatry
- Telepathology
- Telecardiology
- Others
Market Breakup by End User:
- Providers
- Payers
- Patients
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Aerotel Medical Systems (1998) Ltd.
- Allscripts Healthcare Solutions Inc.
- AMD Global Telemedicine Inc.
- American Well Corporation
- Cigna Corporation, Cisco Systems Inc.
- me Inc.
- HealthTap Inc.
- PlushCare Inc. (Accolade Inc.)
- SHL Telemedicine
- SOC Telemed Inc. (Patient Square Capital)
- Teladoc Health Inc.
- and Twilio Inc.
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