The telehealth market size has grown exponentially in recent years. It will grow from $176.24 billion in 2024 to $227.18 billion in 2025 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to strong emerging markets growth, increased spending on pets, supportive government initiatives, and increased penetration of pet insurance.
The telehealth market size is expected to see exponential growth in the next few years. It will grow to $558.31 billion in 2029 at a compound annual growth rate (CAGR) of 25.2%. The growth in the forecast period can be attributed to the increasing pet ownership, the increasing consumption of animal-derived products, and the increasing urbanization. Major trends in the forecast period include focus on advanced technologies such as artificial intelligence, new facility expansions, partnerships and collaborations, and launch of new veterinary telehealth services to improve their financial strength and product portfolio.
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What are the key drivers behind the rapid expansion of the telehealth market?
The rising prevalence of chronic diseases such as cancer, diabetes and hypertension are expected to be a major driver of the telehealth market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases and leave people suffering from these diseases more vulnerable to chronic diseases, thus driving the need for telehealth services platforms. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the rise in the prevalence of chronic diseases is projected to propel the growth of the market.
What is the segmentation for the telehealth market?
The telehealth market covered in this report is segmented –
1) By Component: Software, Services, Hardware
2) By Mode Of Delivery: Cloud-based, On-Premise
3) By Application: Teleradiology, Telepathology, Teledermatology, Telecardiology, Others
4) By End-User: Healthcare Providers, Patients, Payers, Other End-Users
Subsegments:
1) By Software: Telemedicine Software, Remote Patient Monitoring Software, Practice Management Software, Electronic Health Record (EHR) Integration Software
2) By Services: Telehealth Consultation Services, Remote Monitoring Services, Education and Training Services, Support And Maintenance Services
3) By Hardware: Mobile Health Devices, Telemedicine Carts, Digital Stethoscopes, Diagnostic And Imaging Devices
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Who are the most influential companies in the telehealth market?
Major companies operating in the telehealth market include Teladoc Health, Amwell (American Well), MDLIVE, Doctor On Demand, 1Life Healthcare, HealthTap, Babylon Health, PlushCare, MeMD, Pager, Lemonaid Health, SteadyMD, Telestax, InTouch Health, SnapMD, Zipnosis, SOC Telemed, Vsee Lab, Maven Clinic, DocASAP, HeyDoctor, Kareo, Medici, OnCall Health, Qure4u, Spruce Health, GlobalMed, MDBox, Doxy.me, Vida Health
What are the most influential trends expected to drive the telehealth market forward?
Major companies operating in the telehealth market are focusing on integrating advanced technologies, such as remote patient monitoring and AI-driven diagnostics and disease management resources to enhance healthcare accessibility and improve patient outcomes across various medical conditions. Disease management resources are tools and support services designed to help patients effectively manage their chronic conditions, including educational materials, treatment plans, medication management, and access to healthcare professionals. For instance, in January 2024, Eli Lilly and Company, a US-based pharmaceutical company, launched LillyDirect, a digital healthcare experience designed to support patients in the U.S. living with obesity, migraine, and diabetes. The platform provides disease management resources, access to independent healthcare providers, and direct home delivery of select Lilly medicines through third-party pharmacy services.
What are the major regional insights for the telehealth market, and which region holds the top position?
The countries covered in the telehealth market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Telehealth Market Report 2025 Offer?
The telehealth market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Telehealth is engaged in providing telehealth services for the smooth functioning of healthcare services. Telehealth is the use of electronic data and telecommunications technology to promote long-distance medical healthcare services, patient and professional health education, public health, and health management. Technologies comprise streaming media, teleconferencing, the Web, store-and-forward imaging, and terrestrial and wireless communications.
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