Telehealth (Telemedicine) Market Size & Share to Surpass $ 200.53 Billion by 2028 | Vantage Market Research


WASHINGTON, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Vantage Market Research analyses that the Telehealth Market which is USD 40.52 Billion in 2021, is expected to reach USD 200.53 Billion by 2028, at a CAGR of 38.9% during the forecast period 2022 to 2028.

Vantage Market Research Published Latest Telehealth Market Study by in-depth analysis of the current scenario, the Market size, demand, growth pattern, trends, and forecast. telehealth market report is an absolute background analysis of the telehealth industry which includes an assessment of the parental market. This global telehealth market report also estimates the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis. This global market report identifies and analyses the emerging trends along with major drivers, challenges, and opportunities in the telehealth industry with an analysis of vendors, geographical regions, types, and applications. The report studies various inhibitors as well as motivators of the market in both quantitative and qualitative manner so that users can have perfect information.

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Telehealth Market Overview:

Technology Adoption in the wake of COVID-19 is Expected to Generate Revenue for Telehealth/telemedicine Market.   

The demand for healthcare services and technologies reached an all-time high in the wake of the pandemic. Technologies such as telemedicine, and chatbots, robots, are being deployed to help gather information, reassure the population, treat patients, make diagnoses, and even prepare future vaccines. The potential of telehealth has been emphasized, given a global shortage in hospital beds and healthcare workers. Players operating in the telehealth market are focusing on providing innovative solutions on COVID-19 to support hospitals and healthcare providers. 

Healthcare Fraud Might Hinder the Telehealth/Telemedicine Market

Healthcare fraud is an important consideration in the area of telehealth and telemedicine practices. There are numerous ways a patient or a physician can be victimized—for instance, the physician’s name and accounts can be used to receive payments from the insurance company, or non-eligible or non-listed institutional providers can practice improper coding and billing for false claims.       

List of Prominent Players in the Telehealth/Telemedicine Market:

  • Medtronic (Ireland)
  • GE Healthcare (US)
  • Cerner Corporation (US)
  • Philips N.V. (Netherlands)
  • Cisco Systems, Inc. (US)
  • Siemens Healthineers (Germany)
  • American Well (US)
  • Teladoc Health Inc. (US)
  • AMC Health (US)
  • Doctor on Demand (US)
  • MDLive (US)
  • Asahi Kasie Corporation (Japan)
  • Medvivo Group Ltd (UK)
  • Iron Bow Technologies (US)
  • GlobalMed (US)
  • Telespecialists Llc (US)
  • MedWeb (US)
  • Vsee (US)
  • IMediplus Inc. (China)
  • Zipnosis (US)
  • Chiron Health (US)

For Additional Information on Telehealth Market Players and Detail List, Download a Report PDF Brochure

Recent Developments in the Industry:

  • July 2021, Estshara, a Cairo-based company providing an online platform for health consultations and tele pharmacy services, secured USD 500,000 from Egypt Venture in a seed funding round. The company has more than 2 million users currently with a track record of over 200,000 consultations.
  • May 2021, MediTelecare introduced “MediTely” in the market. It is a direct-to-consumer mobile health technology that focuses on the elderly population living outside long-term care facilities.
  • May 2021, Teladoc Health partnered with Vivo to improve access to quality healthcare in Brazil, specifically through the use of telemedicine.
  • April 2021, Swedish digital health start-up Kry, which offers telehealth service and software tools to connect clinicians with patients for remote consultations, raised EUR 312 million. Nearly 6,000 clinicians are using its telehealth platform and software tools.
  • March 2021, AMD Global announced its integration with PointClickCare Technologies, the leader in cloud-based software technology for the long-term and post-acute care (LTPAC) market.

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Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

The report on Telehealth/Telemedicine Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Value Chain Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Porter’s Five Forces Analysis
  • Global and Regional Dynamics

Global Telehealth Market Segmentation

By Component

  • Software & services
  • Hardware

By Mode of Delivery

  • Cloud-based
  • On-Premise

By Application

  • Teleradiology
  • Tele-consultation
  • Tele-ICU
  • Tele-stroke
  • Tele-psychiatry
  • Tele-dermatology
  • Other Applications

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Regional Analysis

Increasing Growth of Telehealth/Telemedicine Market in North America

North America accounted for the largest share of the Telehealth/Telemedicine Market in 2019. The large share of this region in the global Telehealth/Telemedicine Market can be attributed to the factors such as the rising prevalence of chronic conditions, the need to reduce healthcare expenditure, increasing overall and geriatric population. The Asia Pacific market is expected to grow at the highest rate during the forecast period, owing to the prevalence of chronic diseases and the overcrowding of hospitals. Additionally, the growing need to curtail COVID-19 cases, federal mandates to increase healthcare facilities, and a growing focus on improving the quality of care delivered to COVID-19 patients are some key factors driving the growth of the Telehealth/Telemedicine Market in the US in the wake of COVID-19.

Scope of the Report:

Report AttributesDetails
Market Size in 2021USD 40.52 Billion
Revenue Forecast by 2028USD 200.53 Billion
CAGR38.9% from 2022 to 2028
Base Year2021
Forecast Year2022 to 2028
Key PlayersKoninklijke Philips N.V., Medtronic, GE Healthcare, Cerner Corporation, Siemens Healthineers, Cisco Systems Inc., Teladoc Health Inc., American Well, AMC Health, MDLive, Doctor on Demand, Medvivo Group Ltd, Asahi Kasie Corporation, Iron Bow Technologies, Telespecialists Llc, GlobalMed, MedWeb, IMediplus Inc., Vsee, Chiron Health, Zipnosis,

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