Telemedicine Market by Type, Technology outlook Application – Forecast and Analysis 2024-2033

The Telemedicine Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Telemedicine Services, The telemedicine services market size has grown exponentially in recent years. It will grow from $131.75 billion in 2023 to $168.39 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%.  The  growth in the historic period can be attributed to emerging markets growth, government initiatives, home care monitoring demand, growing demand to reduce healthcare expenditure, shortage of skilled human resources, rapid technological advances and rapid growth in elderly population.

The telemedicine services market size is expected to see rapid growth in the next few years. It will grow to $290.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%.  The growth in the forecast period can be attributed to aging population, increase in healthcare access, rising prevalence of chronic diseases and rising demand for telemedicine services due to covid-19. Major trends in the forecast period include implementation of 5g, iot, artificial intelligence, virtual reality and augmented reality.

Rising use of mobile phones across the globe is driving the telemedicine service market. According to World Bank, as of 2022 there are 8.59 billion mobile phones in the world which is more than the world population. Increased mobile phone usage facilitates greater access to telemedicine services, enabling convenient remote consultations and healthcare support, leading to the growth of telemedicine. Growing number of smartphone users across the globe is expected to boost the demand for the telemedicine services market.

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The telemedicine services market covered in this report is segmented –

1) By Type: Web-based, Cloud-based, On-premises
2) By Technology outlook: Real-Time Telemedicine Services, Store-And-Forward Telemedicine Services
3) By Application: Teleradiology, Telepsychiatry, Telepathology, Teledermatalogy, Telecardiology, Other Applications

Telemedicine is increasingly being accepted and insurance companies and government-regulated health care programs are increasingly covering telemedicine services in their plans. The governments are probing companies to make changes to the policies to cover the services under their schemes. For instance, in September 2023, the Medical Board of Australia’s revised telehealth guidelines which now expands insurance to telemedicine and patients will be able to consult a doctor for the first time using telehealth, without first having an in-person consultation.

The telemedicine services market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

Major Players:

  • Teladoc Health Inc.
  • Doctolib
  • Doctor on Demand
  • Amwell (American Well)
  • MDLIVE Inc.


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