The Business Research Company’s report on the Telehealth Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the telehealth industry?
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.
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What is the estimated market size of the telehealth sector by 2029, based on current forecasts?
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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#Who are the top players 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 major trends in the telehealth market?
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.
Which geography holds the highest telehealth market share?
North America was the largest region in the telehealth market in 2024. The regions covered in the telehealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of 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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How is the telehealth market defined?
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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