Telehealth Market by Component, Deployment Mode, End User, Application

List of Tables

[194 Pages Report] The Telehealth Market size was estimated at USD 44.80 billion in 2023 and expected to reach USD 52.71 billion in 2024, at a CAGR 17.72% to reach USD 140.45 billion by 2030.

The telehealth market refers to the segment of the healthcare industry that concerns the allocation of health-related assistance and details through electronic information and telecommunication technologies. It enables long-distance patient and clinician contact, care, advice, reminders, education, intervention, monitoring, and remote admissions. Telehealth is applied in various segments, including telemedicine, clinical services, health practices supported by mobile devices (mHealth), remote patient monitoring, and online consultation. Its end-users range from hospitals & clinics, home care, and specialty centers to individual patients seeking accessible healthcare. The telehealth market growth is primarily driven by factors including the prevalence of chronic disorders, rising healthcare costs, advancements in telecommunications, increasing awareness and government support to promote telehealth solutions, growing investment in healthcare infrastructure, and the need for accessible healthcare services globally. However, the telehealth market faces challenges such as limitations in patient check-ups and unsuitability for emergency situations, concerns associated with data security and privacy, and resistance to change among healthcare providers. On the other hand, incorporating AI and ML for predictive analysis in patient care, increasing partnerships between telecommunication players and healthcare providers, expanding into mental health services, and adopting blockchain for secure patient data exchange present significant opportunities for market expansion.

KEY MARKET STATISTICS
Base Year [2023]	USD 44.80 billion
Estimated Year [2024]	USD 52.71 billion
Forecast Year [2030]	USD 140.45 billion
CAGR (%)	17.72%

Component: Growing applications of telehealth software in patient management systems

Hardware in telehealth facilitates the practical implementation of telehealth services, ensuring that healthcare providers and patients can interact effectively. Endpoints include devices such as smartphones, tablets, laptops, and desktops used by healthcare providers and patients to engage in telehealth services. These devices support the applications and communication technologies necessary for remote healthcare delivery. Network hardware is crucial for enabling the connectivity required for telehealth services. This includes routers, modems, and other devices that ensure a stable and secure network connection for transmitting health data between patients and healthcare providers. Remote patient monitoring (RPM) hardware encompasses devices, including blood pressure monitors, glucose monitors, and wearable technology that patients use at home to collect data on their health. Services in telehealth encompass a range of support activities required to deploy, maintain, and enhance telehealth solutions. Deployment and integration services are essential for setting up telehealth systems within existing healthcare IT infrastructures. This includes the installation of hardware and software, along with the integration of telehealth solutions with electronic health records (EHRs) and other clinical management systems. Support and maintenance services are crucial for the ongoing operation of telehealth systems. These services address the need for technical support, updates, and repairs to ensure that telehealth hardware and software remain functional and up to date. Training services are provided to healthcare providers and sometimes patients to ensure they are proficient in using telehealth technologies. These training programs cover the operation of hardware, software, and the best practices for conducting telehealth sessions.

Software in telehealth includes applications and platforms that enable remote care delivery, patient monitoring, and virtual communication. Remote patient assessment and monitoring software enables healthcare providers to monitor patient health remotely. It collects data from RPM devices, allowing clinicians to assess patient health status, make diagnoses, or adjust treatment plans without needing in-person visits. Videoconferencing software is pivotal for virtual consultations between healthcare providers and patients. It provides a secure, real-time video communication channel, allowing healthcare providers to conduct examinations, discuss treatment options, and provide follow-up care from a distance.

Application: Growing adoption of remote psychiatric assessments with increasing awareness of mental health

Tele-ICU leverages telemedicine technology to provide critical care services remotely. It enables skilled ICU clinicians to provide real-time monitoring, consultation, and support to ICU patients across different locations. This approach enhances patient care by ensuring continuous, specialized monitoring and potentially reducing ICU mortality rates, length of stay, and hospital costs. Teleconsultation offers a platform for patients to consult with healthcare professionals via digital communication tools. It facilitates the delivery of healthcare advice and diagnosis remotely, eliminating the need for in-person visits. This method significantly improves access to healthcare services, particularly for individuals in remote areas, and reduces the strain on traditional healthcare systems. Teledermatology is a subspecialty of telehealth that focuses on the diagnosis of skin conditions through telecommunications technologies. It enables dermatologists to evaluate, diagnose, and manage patients remotely through digital images and teleconsultation sessions. Telepsychiatry, a branch of telemedicine, utilizes videoconferencing tools to provide psychiatric assessment and care remotely. It addresses the shortage of mental healthcare professionals by connecting patients with psychiatrists or therapists regardless of their geographical location. Teleradiology is the transmission of radiological patient images, such as CTs, X-rays, and MRIs, from one location to another for the purpose of sharing studies with other radiologists and physicians. It enables timely interpretation of radiological images by specialists, facilitating faster diagnosis and treatment decisions. Telestroke is an application of telemedicine dedicated to the management of stroke patients. Using telecommunication technologies, specialists can provide immediate assessment and recommendations for stroke patients in locations where vascular neurologists are unavailable on-site.

Regional Insights

In the Americas, the United States has a robust market share in the telehealth industry in the region, with services coverage spanning across various states. Recent legislation has further facilitated the expansion of telehealth services. Investment in mHealth applications and remote patient monitoring systems is growing. Canada is focusing on bridging the rural-urban healthcare divide through telehealth. The country's emphasis on public health insurance and recent guidelines on virtual care are promising steps towards an integrated telehealth system. In South America, countries, including Brazil, are catching up with increasing government support and growing investments in telehealth infrastructure. Europe's telehealth market is expanding steadily, with a noticeable push from the European Union to integrate digital health services across member states. The United Kingdom, Germany, and France are leading in telehealth adoption, powered by initiatives to integrate digital health into existing healthcare systems. The market's growth is further supported by increasing patient acceptance and rising demand for remote monitoring services. In the Middle East and Africa, the telehealth market is at a nascent stage but is experiencing rapid growth due to increased investment in healthcare infrastructure, government support for digital health initiatives, and a rising need to expand healthcare access in remote areas. The APAC region is witnessing significant expansion in the telehealth sector due to its large population, increasing internet penetration, and growing smartphone adoption. China is heavily investing in digital health infrastructure and has introduced policies to encourage the integration of telehealth services. Japan, facing an aging population, focuses on telehealth to provide care for its elderly citizens efficiently. The country is also leading in the development of wearable technology for remote health monitoring. India has seen a surge in telehealth startups, driven by the need for accessible healthcare in rural areas. The government's digital health initiatives are supporting this growth.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Telehealth Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Telehealth Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Telehealth Market, highlighting leading vendors and their innovative profiles. These include Allscripts Healthcare Solutions, Inc., AMD Global Telemedicine Inc., American Well Corporation, Apollo TeleHealth, Boston Scientific Corporation, CareCloud, Inc., Cigna Healthcare, Cisco Systems, Inc., Doctor On Demand Inc., Doro AB, Doximity, Inc., GE Healthcare Technologies Inc, GlobalMedia Group, LLC, GoodRx Holdings, Inc., Hims & Hers Health, Inc., Honeywell International Inc., Koninklijke Philips N.V., Medtronic PLC, MesDocteurs, Oracle Corporation, Siemens Healthineers AG, Teladoc Health, Inc., Tunstall Integrated Healthcare group, UKTelehealthcare, and WELL Health Technologies Corp..

Market Segmentation & Coverage

This research report categorizes the Telehealth Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Hardware
  - Endpoints
  - Network Hardware
  - Remote Patient Monitoring Hardware

Services
- Deployment & Integration
- Support & Maintenance
- Training

Software
- Remote Patient Assessment & Monitoring Software
- Videoconferencing Software

Deployment Mode
- On-Cloud
- On-Premise

End User
- Patient
- Payer
- Provider

Application
- Tele-ICU
- Teleconsultation
- Teledermatology
- Telepsychiatry
- Teleradiology
- Telestroke

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Telehealth Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Telehealth Market?

3. What are the technology trends and regulatory frameworks in the Telehealth Market?

4. What is the market share of the leading vendors in the Telehealth Market?

5. Which modes and strategic moves are suitable for entering the Telehealth Market?

Product Code: MRR-030298DFF6A2

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising chronic disease and increasing demand pressure on healthcare services
  - 5.1.1.2. Increasing awareness and government support to promote telehealth solutions
  - 5.1.1.3. Growing investment in healthcare infrastructure and the need for accessible healthcare services globally
- 5.1.2. Restraints
  - 5.1.2.1. Limitations in patient check-ups and unsuitability for emergency situations
- 5.1.3. Opportunities
  - 5.1.3.1. Incorporation of AI and ML for predictive analysis in patient care
  - 5.1.3.2. Increasing partnerships between telecommunication players and healthcare providers
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with data security and privacy
5.2. Market Segmentation Analysis
- 5.2.1. Component: Growing applications of telehealth software in patient management systems
- 5.2.2. Application: Growing adoption of remote psychiatric assessments with increasing awareness of mental health
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Telehealth Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software

7. Telehealth Market, by Deployment Mode

7.1. Introduction
7.2. On-Cloud
7.3. On-Premise

8. Telehealth Market, by End User

8.1. Introduction
8.2. Patient
8.3. Payer
8.4. Provider

9. Telehealth Market, by Application

9.1. Introduction
9.2. Tele-ICU
9.3. Teleconsultation
9.4. Teledermatology
9.5. Telepsychiatry
9.6. Teleradiology
9.7. Telestroke

10. Americas Telehealth Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Telehealth Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Telehealth Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Optum Perks Introduces New Telehealth Solution
- 13.3.2. Talkspace To Make Long-Held Medicare Expansion a Reality in 2024
- 13.3.3. Aramark Launches New Telehealth Program to Digitally Connect Hospital Inpatients with Clinical Nutrition Services
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio