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The global telemedicine market size attained a value of USD 87.21 billion in 2023. The market is estimated to grow at a CAGR of 19.3% during the forecast period of 2024-2032 to reach a value of USD 426.90 billion by 2032. The growth can be attributed to the increased technological advancement and increased adoption of teleconsultation in healthcare.
Telemedicine is the delivery of distant clinical services through real-time two-way contact between the patient and the healthcare professional via electronic audio and visual methods. Telemedicine is classified into three types, which include:
Telemedicine offers multiple benefits to providers and the users. These benefits are discussed below:
To the Providers:
To the Users:
According to the global telemedicine market research report, the market can be categorised into segments like type, mode of delivery, applications, facility, end user, and major regions.
Market Breakup by Type
Market Breakup by Mode of Delivery
Market Breakup by Applications
Market Breakup by Facility
Market Breakup by End User
Telemedicine Market Breakup by Region
The adoption of digital technologies and teleconsultations has become a useful technique for treating health issues globally. Teleconsultations are less expensive and reduce the workload on healthcare workers. This is the key reason why government organisations are emphasising more on installing digital health technologies, further aiding the growth of the market.
Furthermore, as social alienation has become the new normal, the demand for teleconsultations and digital health services has soared. Every year, the prevalence of neurological illnesses rises at an alarming rate. According to World Federation of Neurology research, over 14% of the United States population has some sort of noncommunicable neurological disease, which is expected to quadruple by 2050.
Among the regional markets, Latin American telemedicine market is expected to grow at a rapid pace during the forecast period. Although the region's total healthcare infrastructure is still at a nascent stage, there is an enormous opportunity for growth in telehealth solutions. Within Latin America, Chile and Uruguay are the two regions which are set to become the leading providers of telemedicine technologies in the world. Colombia, on the other hand, is already soaring high in terms of telehealth solutions and held more than nine million telemedicine visits in the first six months of 2020.
The report gives an in-depth analysis of the key players involved in the global telemedicine market, sponsors manufacturing the therapies, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Mode of Delivery |
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| Breakup by Applications |
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| Breakup by Facility |
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| Breakup by End User |
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| Breakup by Region |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market size reached a value of USD 87.21 billion in 2023.
The market is expected to grow at a CAGR of 19.3% during the forecast period of 2024-2032 to reach a value of about USD 426.90 billion by 2032.
Advanced technological innovation and increased acceptance of teleconsultation in healthcare are the major drivers that are aiding the market growth.
The regions involved in this market are North America, Latin America, Asia Pacific, Europe, and Latin America.
Depending on the ailment and type of patient, digital engagement and follow-up can significantly improve treatment outcomes and quality of life.
The product types can be categorised into hardware and software, among others. Services can be further classified into tele-consulting and tele-monitoring.
The modes of delivery can be categorized into on-premises delivery and cloud-based delivery.
Telemedicine finds wide applications in teleradiology, telepsychiatry, telepathology, tele dermatology, tele nursing, tele pharmacy, and tele stroke, among others.
The facilities included in the market are tele-hospitals and tele-home.
The end-users in the market include healthcare providers, patients, and healthcare payers, among others.
The key companies involved in the global market are MDlive, Inc, American Well Corporation, Twilio Inc, Teladoc Health, Inc., Doctor On Demand, Inc., SOC Telemed, Inc., Plantronics, Inc., Practo, Sesame, Inc., Doxy.me Inc., Koninklijke Philips, GE Healthcare, Siemens Healthineers AG, and Medtronic plc.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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