How has the telemedicine services market evolved, and where is it heading next?
The telemedicine services market size has grown exponentially in recent years. It will grow from $169.31 billion in 2024 to $215.82 billion in 2025 at a compound annual growth rate (CAGR) of 27.5%. 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 $327.94 billion in 2029 at a compound annual growth rate (CAGR) of 11.0%. 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.
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How have varous drivers impacted the growth of the telemedicine services market?
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.
What are the primary segments of the telemedicine services market?
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
Subsegments:
1) By Web-based: Telehealth Platforms Accessible via Web Browsers, Online Consultation Services, Patient Portals for Managing Health Records and Appointments
2) By Cloud-based: Telemedicine Applications Hosted on Cloud Servers, Remote Patient Monitoring Systems, Cloud-based Electronic Health Records (EHR) Integrated with Telehealth Services
3) By On-premises: Telemedicine Systems Installed on Local Servers, Private Healthcare Facility Telemedicine Setups, Integrated Healthcare IT Systems for Telemedicine within Hospitals
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Which firms are leading the telemedicine services market?
Major companies operating in the telemedicine services market include Teladoc Health Inc., Doctolib, Doctor on Demand, Amwell (American Well), MDLIVE Inc., Zocdoc Inc., Alina TeleHealth, HealthTapInc., 2nd.MD, PlushCare Inc.AMD Global Telemedicine, CISCO Systems Inc., Medtronic Inc., Honeywell Lifesciences, Philip Healthcare, Aerotel Medical Systems, CardioComm, Cerner Corporation, Apollo Hospitals, Neosoft, Allscripts Healthcare Solutions Inc., Biotelemetry, Resideo Technologies Inc., InTouch Technologies Inc., SHL Telemedicine, NovioSys BV, KSYOS Telemedicine Centre, Karify, Medgate, Medi24, Immedicare LLP, Babylon Health UK, Medio.link, Push Doctor, Tele Medicine Clinic, Doctor Care Anywhere Limited, Philips Healthcare, McKesson Corporation, GE Healthcare Ltd., DOC+, BestDoctor, TeleMD, mediSensum, Apteki Inc., Care Innovations LLC, BioTelemetry, Specialist Telemed, SOC Telemed, Eagle Telemedicine, Blue Sky Telehealth, NextGen Healthcare, VSee, OKADOC, Doxy.me, GetBEE, Mind Mina Telemedicine, Abu Dhabi Telemedicine Centre
How will industry trends affect the trajectory of the telemedicine services market?
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.
Which geographic trends are shaping the telemedicine services market, and which region has the highest market share?
The countries covered in the telemedicine services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
What Does The Telemedicine Services Market Report 2025 Offer?
The telemedicine services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Telemedicine services are health care services provided via video chat, phone calls, and text messages. Patients can use telemedicine for physical examination as well as to ask questions regarding health concerns.
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