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Telemedicine Market Size

  • Report ID: GMI3129
  • Published Date: Jan 2023
  • Report Format: PDF
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Telemedicine Market Size

Telemedicine Market Size was valued at over USD 71.5 billion in 2022 and will depict a CAGR of over 12.5% over the forecast years 2023-2032. Growing emphasis on enabling access to advanced healthcare to people residing in remote areas will boost the adoption of telemedicine services.

 

Telemedicine Market
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The rising occurrence of chronic illnesses in developing regions will drive the demand for telemedicine services. Increased traditional health care costs, growing number of digital health users and the evolution of mhealth services in the healthcare institutions have spurred the technology uptake. Favorable government initiatives have led to the introduction of advanced healthcare IT infrastructure and facilities, supporting the growth of telemedicine market. For instance, Singapore’s Research and Innovation Enterprise Plan aims to support digital innovation in various industries, including healthcare.

Telemedicine Market Report Attributes
Report Attribute Details
Base Year:2022
Telemedicine Market Size in 2022:USD 71.97 Billion
Forecast Period:2023 to 2032
Forecast Period 2023 to 2032 CAGR:12.9%
2032 Value Projection:USD 244.21 Billion
Historical Data for:2018 to 2032
No. of Pages:210
Tables, Charts & Figures:323
Segments covered:Service, Type, Specialty, Delivery Mode, and Region
Growth Drivers:
  • Increasing prevalence of chronic diseases
  • Growing number of smartphone users
  • Technological advancements related to mobile phones and internet
  • Greater need for cost-saving in healthcare delivery
  • Favorable government initiatives
Pitfalls & Challenges:
  • Security and privacy concerns
  • Lack of knowledge and trust in developing countries
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Data security and privacy concerns may hamper market growth

Smartphones with telemedicine applications are exposed to a several data security threats due to their weaknesses and portability in management and design. Without proper security, the is a danger of huge losses of confidential and critical information. It adversely affects the results and credibility of operations, which could hamper the industry development to certain extent.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for telemedicine size was over 71.5 billion in 2022 and will depict a CAGR of over 12.5% through the forecast years 2022-2032, owing to the rising occurrence of chronic illnesses in developing regions.

Owing to features such as easy and convenient access to patient care, the global telemedicine market share from the tele home segment is expected to showcase over 13% CAGR through 2022-2032.

Europe market value is expected to surpass USD 66 billion by end of 2032, driven by the need to cater to the rapidly growing chronic diseases patient pool in the region.

Allscripts Healthcare Solutions Inc, AMD Global Telemedicine, American Well, Oracle Corporation (Cerner), Cisco Systems, Honeywell International Inc, Koninklijke Philips N.V, McKesson Corporation, OBS Medical, and Teladoc are some leading telemedicine companies operating worldwide.

Telemedicine Market Scope

  • Telemedicine Market Size
  • Telemedicine Market Analysis
  • Telemedicine Market Share

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    Premium Report Details

    • Base Year: 2022
    • Companies covered: 13
    • Tables & Figures: 323
    • Countries covered: 20
    • Pages: 210
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