The Telehealth or Telemedicine Market is expected to grow from USD 38.7 billion in 2020 to USD 175 billion by 2026 at a CAGR of 37.7% from 2020 to 2026.
Telemedicine is also known as telehealth or e-medicine, is the remote rendering of medical services via telecommunications infrastructure. Telemedicine includes the use of electronic communications and software to offer clinical services to patients without the requirements for personal visits. Telemedicine technology is generally used for follow-up, medication management, chronic disease management, expert consultation, and various other clinical services which can be provided remotely through secure video and audio connections. Patients can use their personal technology or visit a dedicated virtual medical kiosk to communicate with doctors at home. The rising prevalence of chronic diseases across the world is one of the major factors propelling the growth of the telehealth or telemedicine market. Moreover, increasing elderly population and the rising demand for home monitoring devices are also providing a boost to the telehealth or telemedicine market growth. There is large-scale adoption of telehealth systems in the area of cardiology, radiology and online consultation for the treatment of many medical ailments, such as diabetes, cancer and cardiovascular diseases (CVDs) which require frequent medical supervision. In addition, several technological advancements, such as the development of health monitoring smartphone applications and user-friendly systems, are also acting as key factor driving the market. Patients across the world are using different wearable devices, such as smartwatches and bands, to keep a regular check on blood pressure, blood glucose levels, sleeping patterns and chronic pain in the body. Few other factors, including the growing health consciousness among the people, coupled with extensive research and development (R&D) activities in the area of medical sciences and telecommunication technologies, are anticipated to propel the market further. However, the legal and reimbursement problems are likely to hamper the market growth.
Furthermore big data analytics can process collected data from telehealth modalities, including both objective and subjective data, coupled with historical data to allow risk prediction and management. Moreover, public payers, federal agencies, and large commercial insurers have increased the telehealth access amid the pandemic. The majority of them are striving to ensure that telehealth is being used to the right patients for the right healthcare requirements, increasing efficacy and efficiency in care delivery which is creating lucrative opportunity for the market. In respect to that, there appears to be vital potential in analytics, AI, and machine learning, as care delivery adapts to the considerable use of telehealth. Data-driven analytics therefore forms a prominent component of ensuring efficacy and efficiency of telehealth.
The global Telehealth or Telemedicine Market is segregated on the basis of component as Software & services and Hardware. Based on Mode of Delivery the global Telehealth or Telemedicine Market is segmented in Cloud-based and On-Premise. Based on Application the global Telehealth or Telemedicine Market is segmented in Teleradiology, Tele-consultation, Tele-ICU, Tele-stroke, Tele-psychiatry, Tele-dermatology and Other Applications. Based on End-User the global Telehealth or Telemedicine Market is segmented in Providers, Payers, Patients and Other End Users.
The global Telehealth or Telemedicine Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Telehealth or Telemedicine Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
AMC Health, American Well, Asahi Kasei Corporation, Cerner Corporation, Chiron Health and others are among the major players in the global Telehealth or Telemedicine Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Telehealth or Telemedicine Market has been segmented as below:
Telehealth or Telemedicine Market, By Component
Telehealth or Telemedicine Market, By Mode of Delivery
Telehealth or Telemedicine Market, By Application
Telehealth or Telemedicine Market, By End-User
Telehealth or Telemedicine Market, By Region
Telehealth or Telemedicine Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Telehealth or Telemedicine Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Telehealth or Telemedicine Market share. Major industry players with significant revenue share include AMC Health, American Well, Asahi Kasei Corporation, Cerner Corporation, Chiron Health and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Telehealth or Telemedicine Market, By Component
5.1. Key Points
5.2. Software & services
5.3. Hardware
6. Telehealth or Telemedicine Market, By Mode of Delivery
6.1. Key Points
6.2. Cloud-based
6.3. On-Premise
7. Telehealth or Telemedicine Market, By Application
7.1. Key Points
7.2. Teleradiology
7.3. Tele-consultation
7.4. Tele-ICU
7.5. Tele-stroke
7.6. Tele-psychiatry
7.7. Tele-dermatology
7.8. Other Applications
8. Telehealth or Telemedicine Market, By End-User
8.1. Key Points
8.2. Providers
8.3. Payers
8.4. Patients
8.5. Other End Users
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- Telehealth or Telemedicine Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. AMC Health
10.2. American Well
10.3. Asahi Kasei Corporation
10.4. Cerner Corporation
10.5. Chiron Health
10.6. Cisco Systems
10.7. Doctor on Demand
10.8. GE Healthcare
10.9. Globalmed
10.10.Imediplus
10.11. Iron Bow Technologies
10.12. Koninklijke Philips
10.13. Mdlive
10.14. Medtronic
10.15. Medvivo Group
10.16. Medweb
10.17. Siemens Healthineers Ag
10.18.Teladoc Health
10.19. Telespecialists
Telehealth or Telemedicine Market, By Component
Telehealth or Telemedicine Market, By Mode of Delivery
Telehealth or Telemedicine Market, By Application
Telehealth or Telemedicine Market, By End-User
Telehealth or Telemedicine Market, By Company