Telemedicine Market Research Report- Global Forecast Till 2032

Telemedicine Market Research Report Information By Component (Product {Software and Hardware} and Services {Tele-Consulting, Tele-Monitoring, Tele-Education, and Others}), By Type (Tele-Nursing, Tele-Pharmacy, Tele-Radiology, Tele-Dermatology, Tele-Oncology and Others), By Deployment (On-Premise and Cloud-Based), By End User (Hospitals and Clinics, Home Care and Others), By Region (North America, Europe, Asia-Pacific, And Rest Of The World) - Forecast Till 2032

ID: MRFR/HCIT/1646-CR | 150 Pages | Author: Kinjoll Dey | February 2021         

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Global Telemedicine Market Overview


The Telemedicine Market Size was valued at USD 67.3 billion in 2021 and is projected to grow from USD 82.17 billion in 2022 to USD 502.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.9% during the forecast period (2022 - 2032). The increasing demand for efficient health care services, an increasing number of chronic illnesses such as cardiovascular diseases across the globe, and the growing adoption of Electronic Health Record (EHR)/Electronic Medical Record (EMR) are driving the market growth. 


Global chronic illnesses like cardiovascular diseases, rising need for effective health care services, and rising use of electronic health records and electronic medical records are all factors contributing to the market's expansion.


Telemedicine Market
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Telemedicine Market Trends



  • Increasing demand for efficient healthcare services to boost market growth


The delivery of healthcare may be improved and made accessible because of the presence of advanced technologies and high-quality network services. Telemedicine is an effective technology that can simplify access to preventive care and improve long-term health. It is more beneficial to people who face financial or regional obstacles to receiving quality treatment. Telehealth has the potential to improve the efficiency, organization, and accessibility of healthcare. The use of telemedicine increased during the COVID-19 pandemic to reduce the burden on hospitals. For instance, according to data published in the National Health Interview Survey Report, in the year 2021, 37.0% of adults reported using telemedicine in the previous 12 months in the US.


Additionally, the prevalence of chronic diseases has increased worldwide. For instance, according to the National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), in the US, around 6 in 10 adults have a chronic disease, and four in ten adults have two or more chronic diseases. Additionally, according to the World Health Organization (WHO), chronic diseases are responsible for 74% of all deaths globally. Telemedicine helps in the effective management of chronic diseases such as hypertension, diabetes, and rheumatoid arthritis with telemedicine consultation and telemonitoring methods.


Moreover, an Electronic Health Record (EHR) offers safer, more cost-effective, and higher-quality care that improves the interoperability of patients' information across healthcare settings. There is increased adoption of Electronic Health Records (EHR) due to quick access to patient records, secure sharing of electronic information, and more coordinated and efficient care. All these factors are driving the market's growth in the forecast period.


Telemedicine Market Segment Insights


Telemedicine Component Insights


The Telemedicine Market segmentation, based on component, includes products and services. The products segment involves software and hardware. Also, the services segment involves tele-consulting, tele-monitoring, tele-education, and others. The products segment held the largest segment in 2021 owing to the increasing adoption of telehealth software, medical peripheral devices, videoconferencing devices, and others to effectively evaluate, diagnose, and treat patients remotely. There is a rise in the adoption of digitally advanced medical devices that connect wirelessly and are integrated with mobile phones which fuels the segment growth.


Telemedicine Type Insights


The market segmentation of Telemedicine, based on type, includes tele-nursing, tele-pharmacy, teleradiology, teledermatology, tele-oncology, and others. The tele-radiology segment dominated the market in 2021. This is due to the high demand for online radiology services, the shortage of skilled radiologists, and the accelerated speed and accuracy of reporting. Teleradiology helps in reducing the load on healthcare professionals by remote handling and transmission of medical data. Also, there is continuous advancements in teleradiology lead to increasing adoption of cloud-based solutions.


December 2022: OpenRad (Germany), a software company, launched OpenRad Enterprise Edition, an enterprise remote monitoring platform that speeds up the diagnostic process and reduces the impact of radiology staff shortages.


Figure 2: Telemedicine Market, by Type, 2021 & 2030 (USD Billion)
Telemedicine Market by Type 2021 and 2030


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Telemedicine Deployment Insights


The market segmentation of Telemedicine, based on deployment, includes on-premise and cloud-based. The cloud-based segment dominated the market in 2021. This is due to the cost-effective solution, easy accessibility to the patient’s data via an internet connection from anywhere as well as reduced maintenance cost.


Telemedicine End User Insights


The market segmentation of Telemedicine, based on end user, includes hospitals and clinics, home care, and others. The hospitals & clinics segment held the largest segment in 2021 owing to the increased use of telemedicine solutions in healthcare facilities and increased adoption of telehealth services. The home care segment also substantial growth during the forecasted period due to the adoption of telemonitoring and the growing geriatric population.


Telemedicine Regional Insights


By Region, the study segments the increased adoption of telemedicine, the growing prevalence of chronic diseases, the rise in the geriatric population worldwide, and increasing government support.


Further, the major countries studied are: The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3: TELEMEDICINE MARKET SHARE BY REGION 2021 (%)
TELEMEDICINE MARKET SHARE BY REGION 2021


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


The North America market of telemedicine accounts for the largest market share due to the increasing digitalization, rise in the adoption of telemedicine solutions, presence of key players, and advanced healthcare facilities. The presence of key players such as MDlive, Inc. (US), Teladoc Health, Inc. (US), American Well Corp. (US), and others. Further, the US telemedicine market held the largest market share and was the fastest-growing market in the North America region. Additionally, the Canada market of telemedicine held a significant market share in the North America region.


The Asia-Pacific market of telemedicine is expected to grow with a significant share. This is due to increased penetration of the internet, the presence of a large patient pool, and rapid demand for healthcare assistance. Increasing adoption of a sedentary lifestyle, increased disposable income of the people, and rise in the obese population. Moreover, India market of telemedicine held the largest market share and was the fastest-growing market in the Asia-Pacific region. For instance, Indian government offers eSanjeevani, a free telemedicine service to the Indian people. Similarly, China market of telemedicine held a significant share in the Asia-Pacific region.


Telemedicine Key Market Players & Competitive Insights


Major market players are adopting several business strategies to increase their market presence. They are significantly investing in R&D activities to expand their product portfolio, further driving the telemedicine market. In addition, the market players are adopting several strategic initiatives, such as new product launches, contractual agreements, mergers & acquisitions, increasing investments, and partnering with other players to expand their global footprint.


Some key players in the market are Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Siemens Healthineers (Germany), and Oracle (US). Medtronic is a global healthcare solutions company committed to improving people's lives through medical technologies, services, and solutions. With Covidien (Ireland), a medical device company, the company has accelerated and advanced its ability to create meaningful innovations for hospitals, health systems, and healthcare providers to deliver the best care possible to patients and their families worldwide. The company's businesses majorly fall into four groups: the Cardiac and Vascular Group (CVG), the Restorative Therapies Group (RTG), the Diabetes Group, and the Minimally Invasive Therapies Group (MITG). The company operates in over 370 locations across almost 160 countries. It has been awarded more than 4,600 patents. The company offers remote patient monitoring solutions and telehealth services.


Key Companies in the Telemedicine market includes



  • Koninklijke Philips N.V. (Netherlands)

  • Medtronic (Ireland)

  • GE Healthcare (US)

  • Siemens Healthineers (Germany)

  • Oracle (US)

  • Cisco Systems (US)

  • Teladoc Health (US)

  • Asahi Kasei Corporation (Japan)

  • American Well (US)

  • MDLIVE (US)

  • AMC Health (US)

  • Doctor on Demand (US)

  • Iron Bow Technologies (US)

  • Medvivo (UK) among others


Telemedicine Industry Developments


January 2023: Koninklijke Philips N.V. (Netherlands) expanded its partnership with Masimo (US), a global medical technology company, to enhance patient monitoring capabilities in home telehealth applications.


April 2020: GE Healthcare (US) launched Mural Virtual Care Solution, a new software solution to support clinicians and health systems in the treatment of COVID-19 patients.


May 2023: The Drug Enforcement Administration (DEA) and the Substance Abuse and Mental Health Services Administration (SAMHSA) of the Department of Health and Human Services have expanded the ability of clinicians to prescribe controlled medications via telemedicine without first seeing a patient for conditions like opioid use disorder (OUD), pain, and anxiety.


May 2023: According to research findings published in the Journal of the National Comprehensive Cancer Network, cancer patients who use telemedicine report having better experiences than cancer patients who receive treatment in person. Researchers discovered that after the COVID-19 outbreak forced the usage of telemedicine at a Florida cancer clinic, cancer patients consistently preferred telemedicine over in-person treatment. Patients' access to care and provider concern over patients' queries or concerns were two important outcomes that the researchers evaluated.


May 2023: Tattvan E-Clinics, one of India's top telemedicine companies, will open a new facility in Bihar. As the business broadens its reach across the nation, bringing high-quality healthcare services closer to individuals in distant locations, this represents another significant achievement for the business. By making high-quality, reasonably priced healthcare services available in the area, Tattvan E-Clinics hopes to close the healthcare gap in Bihar. Through the use of cutting-edge telemedicine technology, the facility will provide a variety of healthcare services, including consultations with specialized doctors, diagnostic tests, and medications.


Telemedicine Market Segmentation:


Telemedicine Component Outlook



  • Products

    • Software

    • Hardware



  • Services

    • Tele-Consulting

    • Tele-Monitoring

    • Tele-Education

    • Others




Telemedicine Type Outlook



  • Tele-Nursing

  • Tele-Pharmacy

  • Tele-Radiology

  • Tele-Dermatology

  • Tele-Oncology

  • Others


Telemedicine Deployment Outlook



  • On-Premise

  • Cloud-Based


Telemedicine End User Outlook



  • Hospitals and Clinics

  • Home Care

  • Others


Telemedicine Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 67.30 billion
Market Size 2022 USD 82.17 billion
Market Size 2032 USD 502.2 billion
Compound Annual Growth Rate (CAGR) 18.9% (2022-2032)
Base Year 2021
Forecast Period 2022-2032
Historical Data 2020
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Component, Type, Deployment, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Siemens Healthineers (Germany), Oracle (US), Cisco Systems (US), Teladoc Health (US), Asahi Kasei Corporation (Japan), American Well (US), MDLIVE (US), AMC Health (US), Doctor on Demand (US), Iron Bow Technologies (US) and Medvivo (UK)
Key Market Opportunities  Increasing application of AI & analytics in telehealth services
Key Market Dynamics  Increasing demand for efficient health care services ·         Increasing number of chronic illnesses across the globe ·         Growing adoption of Electronic Health Record (EHR)/Electronic Medical Record (EMR)




Frequently Asked Questions (FAQ) :

The Telemedicine Market is anticipated to reach USD 502.2 billion at a CAGR of 18.9% during the forecast period of 2022 to 2032

The U.S Telemedicine market share is 35-40% during the forecast period of 2022 to 2032

The Telemedicine Market is expected to register a CAGR of 18.9% during the forecast period of 2022 to 2032.

North America held the largest market share in the telemedicine market

Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Siemens Healthineers (Germany), Oracle (US), Cisco Systems (US), Teladoc Health (US), Asahi Kasei Corporation (Japan), American Well (US), MDLIVE (US), AMC Health (US), Doctor on Demand (US), Iron Bow Technologies (US) and Medvivo (UK)

The tele-radiology segment held the majority share in 2021

Hospitals and clinics segment held the largest market share in the telemedicine market

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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