The global telehealth services market accounted for USD 45.04 billion in 2023 and is expected to reach at USD 836.34 billion by 2034 with a CAGR of 30.42% during the forecast period 2024-2034. Rapidly advancing healthcare digitalization, increase in smartphone usage & mobile internet accessibility, rising demand for value-driven care & streamlined disease management due to shortages in healthcare personnel & facilities, surge in improvements in healthcare IT infrastructure, a heightened need for remote patient monitoring as non-communicable & chronic diseases, increasing development of user-friendly telehealth technologies by market players, and growing launch of advanced telehealth services are some of the key factors boosting the market growth.
Growing launch of advanced telehealth services is predicted to boost the market growth during the forecast period. Telemedicine services encompass healthcare delivered through video calls, phone calls, and text messages, enabling patients to receive physical examinations and seek guidance on health inquiries. Virtual care solutions provide accessibility and convenience for both patients and healthcare providers. For instance, in January 2024, Optum Perks, a provider of discounted prescriptions, has introduced a new telehealth solution aimed at offering cost-effective care and prescription remedies for a range of conditions. As per the company, this service will grant users access to affordable healthcare entirely online.
By service, real-time interactions was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to rising utilization of telehealth for chronic disease management, rising need for real-time monitoring & ongoing improvements in digital health infrastructure, increasing number of mobile internet users, a heightened demand for cost-effective healthcare solutions to mitigate rising expenses, and growing trend of integrating AI/ML algorithms into telehealth platforms. Additionally, remote patient monitoring is predicted to grow at the fastest CAGR during the forecast period owing to the evolution of digital health & the development of numerous platforms & tools for disease management & patient health & fitness tracking continue to progress, escalating healthcare costs, growing need for precise, real-time patient monitoring, increase in investments in digital health to enhance infrastructure, and rising adoption of value-based care models, and surge in the introduction of innovative solutions. For instance, in September 2022, RxDefine has unveiled RxTelehealth, a fresh offering designed for life science brands, with the objective of enhancing its healthcare engagement platform.
By delivery mode, web-based was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to the multiple virtual care applications & telehealth platforms are accessible online, advancements in the smartphone industry, enhanced internet connectivity in remote areas. Both public and private sectors are increasingly investing in initiatives to promote virtual care solutions, with major market players also increasing their funding. Web-based platforms provide users with direct access to care solutions and offer intuitive interfaces, making them cost-effective alternatives to other virtual care solutions. Additionally, cloud-based is predicted to grow at the fastest CAGR during the forecast period owing to the technologically advanced platforms, improved accessibility & increased bandwidth, growing awareness among patients & healthcare providers, enhancements in data security, privacy, storage, & recovery, novel platforms are being introduced at an increasing rate. While web-based applications and platforms are susceptible to data breaches compared to cloud-deployed solutions, the use of cloud-deployed platforms for teleconsultations and patient monitoring has significantly improved medical accessibility in rural areas. For instance, in March 2023, Royal Philips N.V. has launched a Virtual Care Management portfolio to enhance its position in this sector. This initiative seeks to alleviate the workload of hospital personnel and decrease healthcare expenses.
By application, tele-radiology was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to the healthcare facilities are quickly embracing tele-radiology workflows, while diagnostic imaging centers are on the rise. Favorable tele-radiology practices are being increasingly introduced, driven by a shortage of skilled radiologists and other staff in the field. Advancements in digital image processing techniques, along with improvements in internet connectivity and transmission speed, are contributing to this trend, and surge in the adoption of mHealth technologies for visualizing and analyzing images. Additionally, tele-psychiatry is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of mental health conditions & behavioral disorders, heightened awareness among patients & healthcare providers regarding tele-psychiatry options, growing recognition of the significance of mental health and well-being, supported by favorable governmental initiatives promoting mental health, and increase in collaborations among market participants. For instance, in January 2023, Sound Physicians Telemedicine and Health Services Management (HSM) have formed a collaboration to provide services in Florida and Texas.
By end-user, patients was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to the rising utilization of virtual care platforms & telehealth applications, growing convenience, affordability, & accessibility of healthcare solutions, increasing awareness of health, rise in smartphone usage among technology-friendly users, leading to a higher number of active subscribers. Additionally, providers is predicted to grow at the fastest CAGR during the forecast period owing to the healthcare sector is experiencing increasing digitization, with mobile health (mHealth) technologies being widely embraced. Virtual care centers and various pilot programs are emerging, accompanied by a surge in innovation and the development of novel virtual care solutions across neurology, psychiatry, radiology, mental health, stroke care, and dermatology, and rising trend of collaborations among market participants. For instance, in March 2022, Vitalchat, Samsung, and EQUUM Medical have collaborated to advocate for these services in rural hospitals. Together, they have introduced the Access4Health program, which provides assistance in technology, grants, and physician expertise.
North America region is predicted for the highest revenue share during the forecast period. Renowned market leaders are joined by entrepreneurial startups in the evolving landscape of digital health. Progress in digital health infrastructure is complemented by robust internet connectivity, catering to a growing population of smartphone users inclined towards technology. Physical healthcare facilities face increasing strain due to rising chronic disease rates. Cloud-based virtual care solutions are becoming more accessible, contributing to heightened awareness and the introduction of new initiatives in digital health. For instance, in January 2023, American Well introduced the Comprehensive Behavioral Health Program to tackle the escalating mental health crisis. This initiative provides integrated solutions from healthcare providers, combining virtual therapy and psychiatry, coaching, and digital mental health programs. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the healthcare IT spending is on the rise alongside increasing digital preparedness, as healthcare personnel deficits grow. Smartphone usage is increasing, supported by improved internet connectivity, driving the adoption of virtual care services. Additionally, there's a surge in partnerships among market participants. For instance, in May 2022, The MSME forum has collaborated with Practo, an Indian integrated healthcare company, to provide a distinctive and cost-effective comprehensive healthcare solution named "Total Protect" to the MSME Community. This partnership seeks to provide complete corporate health and wellness solutions to affiliated MSMEs, their staff, and families, with the goal of fostering a healthier and more productive work environment.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Growing launch of advanced telehealth services is predicted to boost the market growth during the forecast period. Telemedicine services encompass healthcare delivered through video calls, phone calls, and text messages, enabling patients to receive physical examinations and seek guidance on health inquiries. Virtual care solutions provide accessibility and convenience for both patients and healthcare providers. For instance, in January 2024, Optum Perks, a provider of discounted prescriptions, has introduced a new telehealth solution aimed at offering cost-effective care and prescription remedies for a range of conditions. As per the company, this service will grant users access to affordable healthcare entirely online.
By service, real-time interactions was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to rising utilization of telehealth for chronic disease management, rising need for real-time monitoring & ongoing improvements in digital health infrastructure, increasing number of mobile internet users, a heightened demand for cost-effective healthcare solutions to mitigate rising expenses, and growing trend of integrating AI/ML algorithms into telehealth platforms. Additionally, remote patient monitoring is predicted to grow at the fastest CAGR during the forecast period owing to the evolution of digital health & the development of numerous platforms & tools for disease management & patient health & fitness tracking continue to progress, escalating healthcare costs, growing need for precise, real-time patient monitoring, increase in investments in digital health to enhance infrastructure, and rising adoption of value-based care models, and surge in the introduction of innovative solutions. For instance, in September 2022, RxDefine has unveiled RxTelehealth, a fresh offering designed for life science brands, with the objective of enhancing its healthcare engagement platform.
By delivery mode, web-based was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to the multiple virtual care applications & telehealth platforms are accessible online, advancements in the smartphone industry, enhanced internet connectivity in remote areas. Both public and private sectors are increasingly investing in initiatives to promote virtual care solutions, with major market players also increasing their funding. Web-based platforms provide users with direct access to care solutions and offer intuitive interfaces, making them cost-effective alternatives to other virtual care solutions. Additionally, cloud-based is predicted to grow at the fastest CAGR during the forecast period owing to the technologically advanced platforms, improved accessibility & increased bandwidth, growing awareness among patients & healthcare providers, enhancements in data security, privacy, storage, & recovery, novel platforms are being introduced at an increasing rate. While web-based applications and platforms are susceptible to data breaches compared to cloud-deployed solutions, the use of cloud-deployed platforms for teleconsultations and patient monitoring has significantly improved medical accessibility in rural areas. For instance, in March 2023, Royal Philips N.V. has launched a Virtual Care Management portfolio to enhance its position in this sector. This initiative seeks to alleviate the workload of hospital personnel and decrease healthcare expenses.
By application, tele-radiology was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to the healthcare facilities are quickly embracing tele-radiology workflows, while diagnostic imaging centers are on the rise. Favorable tele-radiology practices are being increasingly introduced, driven by a shortage of skilled radiologists and other staff in the field. Advancements in digital image processing techniques, along with improvements in internet connectivity and transmission speed, are contributing to this trend, and surge in the adoption of mHealth technologies for visualizing and analyzing images. Additionally, tele-psychiatry is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of mental health conditions & behavioral disorders, heightened awareness among patients & healthcare providers regarding tele-psychiatry options, growing recognition of the significance of mental health and well-being, supported by favorable governmental initiatives promoting mental health, and increase in collaborations among market participants. For instance, in January 2023, Sound Physicians Telemedicine and Health Services Management (HSM) have formed a collaboration to provide services in Florida and Texas.
By end-user, patients was the highest revenue-grossing segment in the global telehealth services market in 2023 owing to the rising utilization of virtual care platforms & telehealth applications, growing convenience, affordability, & accessibility of healthcare solutions, increasing awareness of health, rise in smartphone usage among technology-friendly users, leading to a higher number of active subscribers. Additionally, providers is predicted to grow at the fastest CAGR during the forecast period owing to the healthcare sector is experiencing increasing digitization, with mobile health (mHealth) technologies being widely embraced. Virtual care centers and various pilot programs are emerging, accompanied by a surge in innovation and the development of novel virtual care solutions across neurology, psychiatry, radiology, mental health, stroke care, and dermatology, and rising trend of collaborations among market participants. For instance, in March 2022, Vitalchat, Samsung, and EQUUM Medical have collaborated to advocate for these services in rural hospitals. Together, they have introduced the Access4Health program, which provides assistance in technology, grants, and physician expertise.
North America region is predicted for the highest revenue share during the forecast period. Renowned market leaders are joined by entrepreneurial startups in the evolving landscape of digital health. Progress in digital health infrastructure is complemented by robust internet connectivity, catering to a growing population of smartphone users inclined towards technology. Physical healthcare facilities face increasing strain due to rising chronic disease rates. Cloud-based virtual care solutions are becoming more accessible, contributing to heightened awareness and the introduction of new initiatives in digital health. For instance, in January 2023, American Well introduced the Comprehensive Behavioral Health Program to tackle the escalating mental health crisis. This initiative provides integrated solutions from healthcare providers, combining virtual therapy and psychiatry, coaching, and digital mental health programs. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the healthcare IT spending is on the rise alongside increasing digital preparedness, as healthcare personnel deficits grow. Smartphone usage is increasing, supported by improved internet connectivity, driving the adoption of virtual care services. Additionally, there's a surge in partnerships among market participants. For instance, in May 2022, The MSME forum has collaborated with Practo, an Indian integrated healthcare company, to provide a distinctive and cost-effective comprehensive healthcare solution named "Total Protect" to the MSME Community. This partnership seeks to provide complete corporate health and wellness solutions to affiliated MSMEs, their staff, and families, with the goal of fostering a healthier and more productive work environment.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Service, Delivery Mode, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Telehealth Services Market Report 2023 - 2034
Telehealth Services Market Analysis & Forecast by Service 2023 - 2034 (Revenue USD Bn)
- Patient Medical Data Collections
- Physician-to-physician Contact
- Remote Patient Monitoring
- Video/ Audio Consultations
- Appointment Scheduling
- Real Time Interactions
- Store & Forward
- Other Telehealth Services
Telehealth Services Market Analysis & Forecast by Delivery Mode 2023 - 2034 (Revenue USD Bn)
- Cloud-based
- Web-based
- Others
Telehealth Services Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Tele-dermatology
- Tele-psychiatry
- Tele-cardiology
- Tele-pathology
- Tele-radiology
- Others
Telehealth Services Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Payers
- Patients
- Providers
Telehealth Services Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Telehealth Services Market: Service Estimates & Trend Analysis
8. Telehealth Services Market: Delivery Mode Estimates & Trend Analysis
9. Telehealth Services Market: Application Estimates & Trend Analysis
10. Telehealth Services Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Telehealth Services Market
13. Europe Global Telehealth Services Market
14. Asia Pacific Global Telehealth Services Market
15. Latin America Global Telehealth Services Market
16. MEA Global Telehealth Services Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Doxy.me
- Teladoc Health Inc.
- Medtronic PLC
- Koninklijke Philips N.V.
- MDLive
- Siemens Healthineers
- Zoom
- Cisco Systems
- PlushCare
- American Well
- Practo
- GE Healthcare
- GlobalMed
- Cerner Corporation
- HealthTap Inc.
- Doctor on Demand
