Telemedicine Market Size, Trends, Revenue, Sales, Company Analysis, Regional Insights and Forecast 2021-2030

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The global telemedicine market size was valued at US$ 28 Bn in 2020 and expected to reach US$ 120 billion by 2030 with a CAGR of 14.5% from 2021 to 2030.

Increasing incidences of chronic and other acute diseases, ageing & baby boomers population, technological advancements awareness about the Telehealth services, and increase in healthcare expenditure are projected to drive the Telemedicine market during the forecast period.

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Telemedicine is a medical service offered to the patients remotely though telecom or though video conferencing tools. This is referred to as medical practice for the patients with nonphysical presence of patients and healthcare providers. Telemedicine systems are an extension of medical practice in many developed and developing countries with a large rural population. Such remotely located individuals have been greatly benefitted with the presence of telemedicine for their routine healthcare solutions. The overall healthcare standards have improved; this is proved by the increasing life expectancy and decreased mortality rates.

Telemedicine solutions provided by companies range from technologies (product vendors) to healthcare software solution providers. Both the segments are taken under consideration to assess the telemedicine market. This provides a more dynamic scale of study, which has been done considering the global picture of the telemedicine market.

Alliance with Doorstep Diagnostics to Increase Scope of Telemedicine to Drive Market

  • Diagnostic procedures often utilize a significant amount of resources including infrastructure, labor and capital. Many hospitals and medical institutions such as clinics outsource these procedures to diagnostic centers to make the whole process more efficient and cost saving. These services are also directly provided to patient residence upon request. Since medical consultations provided by telemedicine services globally involve directions for diagnostic procedures in cases suggested by medical practitioners, it would be logical to integrate both these homecare solutions to increase the overall patient convenience, and thereby the patient experience. This would boost the telemedicine market as well as the home diagnostics market.
  • Convenience is a major feature of telemedicine and is provided by home diagnostics, thus finding favor with the patients. According to a survey conducted by the U.S. Health magazine, 70% of medical cases can be handled by in-home consultations only. Therefore, this integration would greatly help in increasing patient favor and boost usage.

Dermatology Segment to Dominate Telemedicine Market

  • Based on Speciality segment, the global Telemedicine market has been divided into cardiology, neurology, dermatology, orthopaedics, emergency care, internal medicine, gynecology, and others.
  • The dermatology segment dominated the global Telemedicine market in 2020 owing to growing prevalence across globe and thus considered to be a leading causes for a visit to a physicians. Moreover, dermatological diseases require personal attention and treatment, which is estimated to boost the demand of the telemedicine services. With privacy being offered to the patient, without having to travel to the hospital, telemedicine in dermatology practice is expected to grow steadily during the forecast period.

Increasing demand for personal healthcare and privacy boosts the market of telemedicine

  • The out of pocket per capita spending on healthcare has increased in past few years across the people across globe. Thus, there have being huge demand in the personal healthcare services amongst growing patient burden. These outpatients had shifted to other forms of patient care i.e., telemedicine, which witnessed constant growth rate.
  • This demonstrated that people were favoring telemedicine and personal healthcare over hospital visits. This trend is expected to continue in the future and telemedicine is likely to replace outpatient hospital visits. Individuals consider hospital infections, location convenience and maintenance of privacy as the primary factors for preferring at home telemedicine solutions. Telemedicine usage, therefore, is expected to rise with the increased demand for personal healthcare.

Increase Tele-nursing and Remote Care to Handle Solutions to Handle Larger Patient Pool

  • The increasing patient pool has created a huge burden on existing healthcare systems of the world. Patient complaints and infections have created mild panic situations in developed and developing countries. A large percentage of these patients represent near normal situations and false alarms. Many of these cases arise due to misinformation regarding medical applications and unnecessary confusion or panic. These problems can be effectively filtered out by trained front level medical practitioners i.e., nursing staff and practice doctors. This filtering can be efficiently implemented to decrease workload and increase the effectiveness and productivity of experienced medical practitioners, who are scarce in many regions. This also improves patient care and paves the way for providing increased attention toward more serious cases that are highly time-bound (i.e. emergency cases).
  • Since nurses are often well informed about the appropriate expert medical practitioner specializing in a particular case. According to the WHO, stroke accounted for 6 million deaths, and more than 2 million people died of injuries and accidents globally every year. Such emergency cases would highly benefit from timely, accurate and organized telemedicine service, thereby reducing global fatalities.

North America to Dominate Global Market

  • In terms of region, the global Telemedicine market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Telemedicine market in 2020 and the trend is expected to continue during forecast period.
  • North America accounted for major share of the global Telemedicine market in 2020, owing to technological advancements, presence of vast telemedicine providers across region, and remote location of population across United States and Canada. Furthermore, domestic governments offer favorable reimbursement to telemedicine users and the insurance providers is another major driving factor for the telemedicine market in the North America region.
  • The Telemedicine market in Asia Pacific is anticipated to expand at a high CAGR from 2021 to 2030. This can be attributed to healthy growth of telemedicine in the region including the presence of a large patient population suffering from various types of communicable, non-communicable and lifestyle diseases. Moreover, presence of several low cost domestic manufacturers of mobile communication technology and the growing medical tourism industry in the region paved a new path for the growth in demand for telemedicine installations in various multispecialty hospitals.

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Competitive Landscape

  • The global Telemedicine market is fragmented in terms of number of players. Key players in the global market include Agfa-Gevaert Group, Allscripts Healthcare, LLC and/or its affiliates, AMD Global Telemedicine, CISCO Systems Inc, F. Hoffmann-La Roche Ltd., Honeywell HomMed LLC, InTouch Technologies, Inc., BioTelemetry, Inc, Medtronic, OBS Medical Ltd., Siemens Healthcare Private Limited, McKesson Corporation, and other prominent players.

Market Segmentation

By Speciality

    • Cardiology
    • Dermatology
    • Neurology
    • Orthopedics
    • Emergency Care
    • Internal Medicine
    • Gynecology
    • Others

By Process

    • Tele-consultation
    • Tele-surgery
    • Tele-monitoring
    • Tele-education
    • Tele-training
    • Tele-care

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Table of Content

  1. Preface

1.1. Market Definition and Scope

1.2. Market Segmentation

1.3. Key Research Objectives

1.4. Research Highlights

  1. Assumptions and Research Methodology
  2. Executive Summary: Global Telemedicine Market
  3. Market Overview

4.1. Introduction

4.1.1. Market Definition

4.1.2. Industry Evolution / Developments

4.2. Overview

4.3. Market Dynamics

4.3.1. Drivers

4.3.2. Restraints

4.3.3. Opportunities

4.4. Global Telemedicine Market Analysis and Forecast, 2017-2027

4.4.1. Market Revenue Projections (US$ Mn)

  1. Key Insights

5.1. Technological Advancements

5.2. Disease Prevalence across globe

  1. Global Telemedicine Market Analysis and Forecast, by Speciality

6.1. Introduction & Definition

6.1.1. Key Findings / Developments

6.2. Global Telemedicine Market Value Forecast, by Speciality, 2017-2027

6.2.1. Cardiology

6.2.2. Dermatology

6.2.3. Neurology

6.2.4. Orthopedics

6.2.5. Emergency Care

6.2.6. Internal Medicine

6.2.7. Gynecology

6.2.8. Others

6.3. Global Telemedicine Market Attractiveness, by Speciality

  1. Global Telemedicine Market Analysis and Forecast, by Process

7.1. Introduction & Definition

7.1.1. Key Findings / Developments

7.2. Global Telemedicine Market Value Forecast, by Process , 2017-2027

7.2.1. Tele-consultation

7.2.2. Tele-Surgery

7.2.3. Tele-monitoring

7.2.4. Tele-education

7.2.5. Tele-training

7.2.6. Tele-care

7.2.7. Others

7.3. Global Telemedicine Market Attractiveness, by Process

  1. Global Telemedicine Market Analysis and Forecast, by Region

8.1. Key Findings

8.2. Global Telemedicine Market Value Forecast, by Region

8.2.1. North America

8.2.2. Europe

8.2.3. Asia Pacific

8.2.4. Latin America

8.2.5. Middle East & Africa

8.3. Global Telemedicine Market Attractiveness, by Region

  1. North America Telemedicine Market Analysis and Forecast

9.1. Introduction

9.1.1. Key Findings

9.2. North America Telemedicine Market Value (US$ Mn) Forecast, by Speciality, 2017-2027

9.2.1. Cardiology

9.2.2. Dermatology

9.2.3. Neurology

9.2.4. Orthopedics

9.2.5. Emergency Care

9.2.6. Internal Medicine

9.2.7. Gynecology

9.2.8. Others

9.3. North America Telemedicine Market Value (US$ Mn) Forecast, by Process , 2017-2027

9.3.1. Tele-consultation

9.3.2. Tele-Surgery

9.3.3. Tele-monitoring

9.3.4. Tele-education

9.3.5. Tele-training

9.3.6. Tele-care

9.3.7. Others

9.4. North America Telemedicine Market Value (US$ Mn) Forecast, by Country, 2017-2027

9.4.1. U.S.

9.4.2. Canada

9.5. North America Telemedicine Market Attractiveness Analysis

9.5.1. By Type

9.5.2. By Process

9.5.3. By Country

  1. Europe Telemedicine Market Analysis and Forecast

10.1. Introduction

10.1.1. Key Findings

10.2. Europe Telemedicine Market Value (US$ Mn) Forecast, by Speciality, 2017-2027

10.2.1. Cardiology

10.2.2. Dermatology

10.2.3. Neurology

10.2.4. Orthopedics

10.2.5. Emergency Care

10.2.6. Internal Medicine

10.2.7. Gynecology

10.2.8. Others

10.3. Europe Telemedicine Market Value (US$ Mn) Forecast, by Process , 2017-2027

10.3.1. Tele-consultation

10.3.2. Tele-Surgery

10.3.3. Tele-monitoring

10.3.4. Tele-education

10.3.5. Tele-training

10.3.6. Tele-care

10.3.7. Others

10.4. Europe Telemedicine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2027

10.4.1. Germany

10.4.2. U.K.

10.4.3. France

10.4.4. Spain

10.4.5. Italy

10.4.6. Rest of Europe

10.5. Europe Telemedicine Market Attractiveness Analysis

10.5.1. By Type

10.5.2. By Process

10.5.3. By Country/Sub-region

  1. Asia Pacific Telemedicine Market Analysis and Forecast

11.1. Introduction

11.1.1. Key Findings

11.2. Asia Pacific Telemedicine Market Value (US$ Mn) Forecast, by Speciality, 2017-2027

11.2.1. Cardiology

11.2.2. Dermatology

11.2.3. Neurology

11.2.4. Orthopedics

11.2.5. Emergency Care

11.2.6. Internal Medicine

11.2.7. Gynecology

11.2.8. Others

11.3. Asia Pacific Telemedicine Market Value (US$ Mn) Forecast, by Process , 2017-2027

11.3.1. Tele-consultation

11.3.2. Tele-Surgery

11.3.3. Tele-monitoring

11.3.4. Tele-education

11.3.5. Tele-training

11.3.6. Tele-care

11.3.7. Others

11.4. Asia Pacific Telemedicine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2027

11.4.1. China

11.4.2. Japan

11.4.3. India

11.4.4. Australia & New Zealand

11.4.5. Rest of Asia Pacific

11.5. Asia Pacific Telemedicine Market Attractiveness Analysis

11.5.1. By Type

11.5.2. By Process

11.5.3. By Country/Sub-region

  1. Latin America Telemedicine Market Analysis and Forecast

12.1. Introduction

12.1.1. Key Findings

12.2. Latin America Telemedicine Market Value (US$ Mn) Forecast, by Speciality, 2017-2027

12.2.1. Cardiology

12.2.2. Dermatology

12.2.3. Neurology

12.2.4. Orthopedics

12.2.5. Emergency Care

12.2.6. Internal Medicine

12.2.7. Gynecology

12.2.8. Others

12.3. Latin America Telemedicine Market Value (US$ Mn) Forecast, by Process , 2017-2027

12.3.1. Tele-consultation

12.3.2. Tele-Surgery

12.3.3. Tele-monitoring

12.3.4. Tele-education

12.3.5. Tele-training

12.3.6. Tele-care

12.3.7. Others

12.4. Latin America Telemedicine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2027

12.4.1. Brazil

12.4.2. Mexico

12.4.3. Rest of Latin America Latin America

12.5. Latin America Telemedicine Market Attractiveness Analysis

12.5.1. By Type

12.5.2. By Process

12.5.3. By Country/Sub-region

  1. Middle East & Africa Telemedicine Market Analysis and Forecast

13.1. Introduction

13.1.1. Key Findings

13.2. Middle East & Africa Telemedicine Market Value (US$ Mn) Forecast, by Speciality, 2017-2027

13.2.1. Cardiology

13.2.2. Dermatology

13.2.3. Neurology

13.2.4. Orthopedics

13.2.5. Emergency Care

13.2.6. Internal Medicine

13.2.7. Gynecology

13.2.8. Others

13.3. Middle East & Africa Telemedicine Market Value (US$ Mn) Forecast, by Speciality, 2017-2027

13.3.1. Tele-consultation

13.3.2. Tele-Surgery

13.3.3. Tele-monitoring

13.3.4. Tele-education

13.3.5. Tele-training

13.3.6. Tele-care

13.3.7. Others

13.4. Middle East & Africa Telemedicine Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017-2027

13.4.1. GCC Countries

13.4.2. South Africa

13.4.3. Rest of Middle East & Africa

13.5. Middle East & Africa Telemedicine Market Attractiveness Analysis

13.5.1. By Type

13.5.2. By Process

13.5.3. By Country/Sub-region

  1. Competition Landscape

14.1. Market Player - Competition Matrix (by Tier and Size of companies)

14.2. Market Share / Position Analysis, by Company, 2018

14.3. Company Profiles

14.3.1. Agfa-Gevaert Group

14.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.1.2. Financial Overview

14.3.1.3. Growth Strategies

14.3.1.4. SWOT Analysis

14.3.2. Allscripts Healthcare, LLC and/or its affiliates

14.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.2.2. Financial Overview

14.3.2.3. Growth Strategies

14.3.2.4. SWOT Analysis

14.3.3. AMD Global Telemedicine, Inc

14.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.3.2. Financial Overview

14.3.3.3. Growth Strategies

14.3.3.4. SWOT Analysis

14.3.4. CISCO Systems Inc

14.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.4.2. Growth Strategies

14.3.4.3. SWOT Analysis

14.3.5. F. Hoffmann-La Roche Ltd.,

14.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.5.2. Growth Strategies

14.3.5.3. SWOT Analysis

14.3.6. Honeywell HomMed LLC

14.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.6.2. Growth Strategies

14.3.6.3. SWOT Analysis

14.3.7. InTouch Technologies, Inc

14.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.7.2. Growth Strategies

14.3.7.3. SWOT Analysis

14.3.8. BioTelemetry, Inc,

14.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.8.2. Growth Strategies

14.3.8.3. SWOT Analysis

14.3.9. Medtronic

14.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.9.2. Growth Strategies

14.3.9.3. SWOT Analysis

14.3.10. OBS Medical Ltd

14.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.10.2. Growth Strategies

14.3.10.3. SWOT Analysis

14.3.11. Siemens Healthcare Private Limited

14.3.11.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.11.2. Growth Strategies

14.3.11.3. SWOT Analysis

14.3.12. McKesson Corporation

14.3.12.1. Company Overview (HQ, Business Segments, Employee Strength)

14.3.12.2. Growth Strategies

14.3.12.3. SWOT Analysis

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