Telehealth Market Size by Segments, Share, Regulatory, Reimbursement, Installed Base and Forecast to 2033
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Telehealth Market Report Overview
The telehealth market size was $364.6 million in 2023. The market will grow at a CAGR of more than 5% during 2023-2033. Telehealth makes it easier and more affordable for consumers and providers to obtain high-quality medical treatment. Consumers who value convenience and enhanced access to care have increased their demand for telehealth services. A shift toward less expensive alternatives for high-quality healthcare is being seen from the pandemic.
Telehealth Market Outlook, 2023-2033 ($ Million)
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The telehealth market research report has been created to help understand market behavior, which will help identify quantitative market trends in the digital health therapeutic area. It discusses in detail the impact of COVID-19 on the telehealth market for the year 2020 and beyond. The report has extensively covered pipeline products and technologies, which will help in identifying companies with the most robust pipeline. This, in turn, will assist in predictive analysis for designing your in-licensing and out-licensing strategies.
Market Size (2023) | $364.6 million |
CAGR (2023-2033) | >5% |
Forecast Period | 2023-2033 |
Historical Period | 2015-2022 |
Key Segments | · Telehealth Devices
· Telehealth Software and Services |
Key Regions | · North America
· Europe · Asia-Pacific · South and Central America · Middle East and Africa |
Leading Companies | · Koninklijke Philips NV
· American Well Corp · Teladoc Health Inc · Siemens AG |
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Telehealth Market Dynamics
Increasing advancements in telecommunications and increasing government support will drive the telehealth market during the forecast period. Telehealth can benefit patients by lowering the cost of medical care and making it easier for patients to connect with doctors from their homes. The addition of assisted surgery and training will help minimize human errors in surgeries and will revolutionize the medical healthcare systems.
Telehealth Market Segments
The key segments in the telehealth market are telehealth devices and telehealth software and services. In 2023, the telehealth software and services dominated the market share. Telehealth software and services can be integrated with a provider’s electronic health record and scheduling systems. Telemedicine software enables healthcare professionals to communicate virtually with patients and, in some circumstances, with one another.
Telehealth Market Analysis by Segments, 2023 (%)
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Telehealth Market Segmentation by Regions
The key regions in the telehealth market are North America, Europe, Asia-Pacific, South and Central America, and the Middle East and Africa. In 2023, Asia-Pacific dominated the telehealth market. APAC is one of the fastest-growing regions since it has many untapped opportunities. For instance, many emerging and developing economies have zero to minimal access to basic healthcare in APAC. Additionally, the growing elderly population in nations such as India and Japan, together with technological developments in the field of digital health and research activities carried out by the major companies in the region, are expected to help the market’s expansion.
Telehealth Market Analysis by Regions, 2023 (%)
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Telehealth Market - Competitive Landscape
A few of the leading companies in the telehealth market are:
- Koninklijke Philips NV
- American Well Corp
- Teladoc Health Inc
- Siemens AG
Teladoc Health Inc. had the highest market share in 2023.
Telehealth Market Analysis by Companies, 2023 (%)
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Segments Covered in the Report
Telehealth Segments Outlook (Value, $ Million, 2015-2033)
- Telehealth Devices
- Telehealth Software and Services
Telehealth Regional Outlook (Value, $ Million, 2015-2033)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East & Africa
Key Inclusions
Currently marketed telehealth and evolving competitive landscape:
- Insightful review of the key industry trends.
- Annualized total Telehealth market revenue by segment and market outlooks from 2015-2033.
- Market-level data on units, average selling prices, and market values.
Global, Regional, and Country level market specific insights:
- Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- SWOT analysis for the Telehealth market.
- Competitive dynamics insights and trends provided for the Telehealth market.
Get an in-depth understanding of consumer behavior through the market access segment and the overview of the healthcare system. The report also offers information on reimbursement policies and the regulatory landscape.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, the report helps determine market trends through real-world data sources including government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered: Philips Healthcare Informatics Inc, American Well Corp, Teladoc Health Inc, Siemens Healthineers AG, and others.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
This market model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for:
- CMO executives who must have a deep understanding of the telehealth marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives who must understand crucial components of the supply base to make decisions about supplier selection and management.
- Private equity investors who need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
- Understand the impact of COVID-19 on the Telehealth market.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the Telehealth market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Telehealth market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counterstrategies to gain a competitive advantage.
- Track device sales in the global and country-specific Telehealth market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
American Well Corp
Teladoc Health Inc
Siemens Healthineers AG
Others
Frequently asked questions
-
What was the telehealth market size in 2023?
The telehealth market size was $364.6 million in 2023.
-
What will the telehealth market growth rate be during the forecast period?
The telehealth market is expected to grow at a CAGR of more than 5% during 2023-2033.
-
Which region dominated the telehealth market in 2023?
Asia-Pacific dominated the overall telehealth market in 2023.
-
Which segment led the telehealth market in 2023?
Telehealth software and services accounted for the highest share of the telehealth market in 2023.
-
Which are the leading companies in the telehealth market?
A few of the leading companies in the telehealth market are Koninklijke Philips NV, American Well Corp, Teladoc Health Inc., and Siemens Healthineers AG, among others.
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