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U.S. Telemedicine Market Size By Service (Tele-consulting, Tele-monitoring, Tele-education/training), By Type (Telehospital {Integrated Delivery Network, Academic Medical Centers, Large Independent Hospitals, Medium Independent Hospitals, Small Hospitals}, Telehome), By Specialty (Cardiology, Gynecology, Neurology, Orthopedics, Dermatology, Mental Health, Critical Care, Neonatology), By Component (Hardware, Software, Services), By Delivery Mode (Web/Mobile {Telephonic, Visualized}, Call Centers), COVID-19 Impact Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI4362
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

U.S. Telemedicine Market size was valued at more than USD 35 billion in 2022. Driven by the soaring number of chronically ill patients, the industry is estimated to grow at a 12.5% CAGR from 2023 to 2032.
 

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The increasing prevalence of chronic diseases is anticipated to foster market growth. A strong prevalence of these illnesses, such as cancer, diabetes, and heart diseases, among others, due to the higher adoption of unhealthy habits and sedentary lifestyles viz., consuming alcohol and smoking cigarettes is accelerating the telemedicine industry penetration in the U.S.
 

Moreover, favorable government initiatives towards the improvement of healthcare systems are also escalating the demand for telemedicine in the region. For instance, in March 2020, the Health Insurance Portability and Accountability Act's policies were made public by the Centers for Medicare & Medicaid Services Administrator (HIPAA). According to this policy, patients are entitled to contact any doctor throughout the pandemic using their smartphones and platforms. Such regulatory changes have increased the use of telemedicine, which is foreseen to boost market expansion.
 

Increasing data thefts and breaches may restrain U.S. telemedicine market progression

Security risks over confidential patient data may limit industry expansion. Platforms, including electronic prescriptions, electronic health records, and fitness or medical applications, among others, must be integrated into telemedicine systems. Data breaches give unauthorized access to private data, including medical records, personal information, prescription information, insurance IDs, and addresses. Therefore, data threats and breaches associated with telemedicine services are impeding market expansion. Nevertheless, ongoing technological advancements are likely to aid in combatting these issues.
 

Ease of remote learning to push tele-education/training segment growth

Based on service, the U.S. telemedicine market is segmented into tele-consulting, tele-education/training, tele-monitoring, and others. The tele-education/training segment is poised to depict over 14% CAGR from 2023 to 2032. Healthcare professionals that work in remote or rural areas can receive their education through tele-education. It removes constraints caused by distance and enhances medical education/training services, particularly in rural areas. Additionally, tele-educational services support emergency medical care, while improving overall treatment outcomes.
 

Increased need for home-driven medical services to help telehospitals gain traction

In terms of type, the U.S. telemedicine market is categorized into telehospital and telehome. The telehospital segment was valued at more than USD 22.5 billion in 2022. Telehospital is further segregated into academic hospitals, big independent hospitals, medium independent hospitals, little independent hospitals, and so on. Telehospital services demand is driven by the requirement for remote patient monitoring. Additionally, the growing need for affordable, high-quality healthcare services is a key factor aiding segment expansion.
 

High applicability in gynecology to positively influence the market outlook

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With respect to specialty, the U.S. telemedicine market is divided into cardiology, neurology, gynecology, orthopedics, mental health, dermatology, critical care, and neonatology. U.S. market from the gynecology segment is foreseen to surpass USD 4 billion by 2032. The segment growth is attributable to the widespread application of telemedicine in gynecology such as for preconception counseling, family planning including contraception & medical abortion, teleradiology, infertility workup, cervical cancer screening, and colposcopy, among others. It enables early access to schedule optimization for high-risk obstetrics and medical abortion services, which is estimated to facilitate segment progress.
 

Rising demand for virtual consultations to elevate the uptake of telemedicine software

Based on components, the U.S. telemedicine market is classified into hardware, software, and service. The software segment is primed to reach more than USD 37 billion by 2032. Numerous businesses are releasing user-friendly telemedicine platforms and creative mobile applications. Additionally, it is anticipated that over the analysis period, the demand for telemedicine software is expected to rise in line with the demand for virtual visits, thereby benefitting the segment.
 

Easy connectivity to medical professionals and medical data to aid call centers segment expansion

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In terms of delivery mode, the U.S. telemedicine market is segregated into web/mobile and call centers. Call centers are anticipated to exhibit a 12% CAGR between 2023 to 2032. For patients who are confined to their homes or are bedridden, call centers offer a wide range of services, meanwhile, for remote consultations, call centers connect patients to particular areas of medical facilities easily. The call center database's information comprises the patient's medical information. This facility is primarily utilized in medical facilities with multiple specialties, which is set to augment segment revenues.
 

Lucrative partnerships to strengthen the competitive outlook

AMD Global Telemedicine, Allscripts Healthcare Solutions Inc, American Well, Cisco Systems, Eagle Telemedicine, Oracle Corporation (Cerner), Honeywell International Inc, McKesson Corporation, Koninklijke Philips N.V, OBS Medical, Specialist Telemed, SOC Telemed, and Teladoc, among others, are some leading market players functioning in the U.S. telemedicine market. These companies primarily focus on mergers and partnerships. For instance, in March 2021, AMD Global Telemedicine Inc., a telemedicine platform, partnered with PointClickCare Technologies, a cloud-based software technology firm, to boost their market standing in the long-term and post-acute care (LTPAC) industry. This is set to help clinicians to record and collect patients’ vitals in mere minutes and eliminate the risk of common data entry errors.
 

Impact of COVID-19 on the U.S. telemedicine market trends

The COVID-19 pandemic provided positive scope for the U.S. telemedicine industry as a result of changes in the healthcare sector and a surge in telemedicine applications. In response to restrictions by varied national and local governmental bodies on the movement of people and products, remote care alternatives became highly popular among chronically ill patients. With the emergence of the COVID-19 pandemic, remote care options like telemedicine acquired significant traction. In addition, better access to care, low cost, and minimal crowding in healthcare institutions accelerated telemedicine use, which has been profitable for overall market statistics.
 

The U.S. telemedicine market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

By Service

  • Tele-consulting
  • Tele-monitoring
  • Tele-education/training
  • Others

By Type

  • Telehospital
    • Integrated delivery network
    • Academic medical centers
    • Large independent hospitals
    • Medium independent hospitals
    • Small hospitals
    • Others
  • Telehome

By Specialty 

  • Cardiology
  • Gynecology
  • Neurology
  • Orthopedics
  • Dermatology
  • Mental Health
  • Critical Care
  • Neonatology
  • Others

By Component

  • Hardware
  • Software
  • Service

By Delivery Mode

  • Web/Mobile
    • Telephonic
    • Visualized
  • Call centers

 

Authors: Rupali Swain, Subodh Kharad

Frequently Asked Questions (FAQ) :

U.S. Telemedicine Market accounted for more than USD 35 billion in 2022 and is set to progress at a 12.5% CAGR over the next 10 years owing to the strong prevalence of chronic diseases, such as cancer, diabetes, and heart diseases, among others, due to the high adoption of unhealthy habits and sedentary lifestyles.
The gynecology segment is foreseen to surpass USD 4 billion in revenue by the end of 2032 owing to the widespread application of telemedicine in gynecology such as preconception counseling, and family planning, including contraception and medical abortion.
The software segment is poised to reach a valuation of more than USD 37 billion by the end of 2032 as a result of the introduction of user-friendly telemedicine platforms and creative mobile applications by varied organizations.
The call centers segment is slated to exhibit a 12% CAGR between 2023 to 2032 on account of the easy connection of bedridden and remote patients with particular areas of medical facilities and a wide range of services in the region.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 13
  • Tables & Figures: 72
  • Countries covered: 1
  • Pages: 130
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