Fort Collins, Colorado, Sept. 11, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Telehealth Market Size, Growth, Trends, Share, Statistics Analysis Report, By Modalities (Live Video, Store-And-Forward, Remote Patient Monitoring and Mobile Health), By Monitoring Devices (Blood Pressure Devices, Digital Thermometers), By Uses, By Region, And Segment Forecasts, 2023- 2032."
According to DataHorizzon Research, The telehealth market size was valued at USD 87.2 Billion in 2022 and is expected to reach USD 737.5 Billion by 2032 with a CAGR of 23.9%. Rapid technological advancements and technology adoption in medical services continue to contribute to the significant demand for telehealth. In the wake of COVID-19, healthcare providers have faced communication gaps for patients with chronic health conditions, which were sorted with the help of telehealth.
Telehealth focuses on improving access to basic healthcare services for patients that improve safety and quality. Adequate care is provided by the health program to the patient to reduce adverse events and avoid symptoms. Innovations in digital healthcare, such as advanced healthcare analytics, the Internet of Things, smart wearables, and the global penetration of smartphones have made a significant impact on the telehealth industry.
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Report Snapshot:
| Report Title | Telehealth Market |
| Market Size in 2022 | USD 87.2 Billion |
| Market Size by 2032 | USD 737.5 Billion |
| CAGR from 2023 to 2032 | 23.9% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, estimations, competitor analysis, trends, and growth factors |
| By Modalities | Live video, store-and-forward, remote patient monitoring, and mobile health |
| By Monitoring Devices | Blood pressure devices, digital thermometers, blood glucose meters, pulse oximeters and others |
| By Uses | Teleconsultation, telepathology, remote psychotherapy, remote home medical care, and others |
| By End-user | Medical practitioner and patient |
| By Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Teladoc Health, Amwell, Good Rx, Talkspace, Doximity, Hims and Hers, InTouch Health, Plushcare, Medtronic, VSee, Doctor on Demand, Healthtap and others. |
Segmentation Overview
The telehealth market has been segmented into modalities, monitoring devices, application, end-user, and region. Based on the modalities, the live video segment holds a significant market share. Based on monitoring devices, the blood pressure devices segment leads the market growth. Based on application, teleconsultation accounted for a significant portion of the market. According to end-user segment, the medical practitioner segment dominates the market growth.
North America dominates the telehealth market owing to the rising geriatric population and growing demand for online medical services. The majority of people demanding telehealth are above 65 years. Asia Pacific is witnessing rapid growth due to the various government initiatives offered by countries such as Japan, China, and India. Additionally, integrating digital technologies in the healthcare sector is another prominent factor for the market growth.
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Key Developments in the Industry:
- In April 2023, Teladoc Health expanded its product portfolio in telehealth services by including obesity drugs in its services. This move is likely to help them expand their services as one out of every three Americans lives with obesity, and with the provision of this service, patients can easily interact with doctors to work on their weight management plans.
- September 2023, Mountain Comprehensive Care Center (MCCC) intends to expand telehealth with its new partnership with Accelecom Fiber Solutions. Accelecom is providing internet to MCCC locations that were not primarily connected before this partnership. Care centers use telehealth to connect their patients to the services they offer at their different locations so they can access all the services MCCC provides.
Telehealth Market Report Highlights:
- The telehealth market is projected to attain a CAGR of 23.9% by 2032.
- Live video is at the forefront of the modalities segment growth and is expected to continue its dominance. It enables doctors and patients to communicate through the phone or video conferencing for consultation.
- Blood pressure devices dominate the monitoring device segment due to the growing number of patients with high blood pressure and heart diseases.
- The teleconsultation application accounts for a significant position in the segment owing to the benefits offered by it, such as time-saving and cost-effectiveness.
- North America dominates the telehealth market owing to the rising geriatric population and growing demand for online medical services.
- The prominent players in telehealth market report include Teladoc Health, Amwell, Good Ex, Talkspace, Doximity, hims and Hers, InTouch Health, Plushcare, Medtronic, Vsee, Doctor on Demand, Healthtap and others.
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Telehealth Market Report Segmentation:
Telehealth Market, By Modalities (2023-2032)
- Live Video
- Store-and-Forward
- Remote Patient Monitoring
- Mobile Health
Telehealth Market, By Monitoring Devices (2023-2032)
- Blood Pressure Devices
- Digital Thermometers
- Blood Glucose Meters
- Pulse Oximeters
- Others
Telehealth Market, By Application (2023-2032)
- Teleconsitation
- Telepathology
- Remote Psychotherapy
- Remote Home Medical Care
- Others
Telehealth Market, By End-user (2023-2032)
- Medical Practitioner
- Patient
Telehealth Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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