Categories: Healthcare

Telemedicine Services Market worth $11.3 Billion by 2028

Overview and Scope
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.

Sizing and Forecast
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.

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Segmentation & Regional Insights
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

North America was the largest region in the telemedicine services market in 20232. Asia-Pacific was the second largest region in global telemedicine services market share. The regions covered in the telemedicine services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the telemedicine services market report are Teladoc Health Inc., Doctolib, Doctor on Demand, Amwell (American Well), MDLIVE Inc., Zocdoc Inc., Alina TeleHealth, HealthTap, Inc., 2nd.MD, PlushCare Inc.AMD Global Telemedicine, CISCO Systems Inc., Medtronic Inc., GE Healthcare, 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, Cisco Systems UK, McKesson Corporation, GE Healthcare Ltd., Cerner Corporation, Teladoc Health Inc., DOC+, BestDoctor, TeleMD, mediSensum, Apteki Inc., American Well, 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

The telemedicine services market report table of contents includes:
1. Executive Summary
2. Telemedicine Services Market Characteristics
3. Telemedicine Services Market Trends And Strategies
4. Telemedicine Services Market – Macro Economic Scenario
5. Global Telemedicine Services Market Size and Growth
…..
32. Global Telemedicine Services Market Competitive Benchmarking
33. Global Telemedicine Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Telemedicine Services Market
35. Telemedicine Services Market Future Outlook and Potential Analysis
36. Appendix