Telemedicine Services Market 2024 - Industry Size, Business Segments, Innovative Strategies And Outlook by 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Telemedicine Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The telemedicine services market size has grown exponentially in recent years. It will grow from $131.75 billion in 2023 to $168.39 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The growth in the historic period can be attributed to emerging markets growth, government initiatives, home care monitoring demand, growing demand to reduce healthcare expenditure, shortage of skilled human resources, rapid technological advances and rapid growth in elderly population.

The telemedicine services market size is expected to see rapid growth in the next few years. It will grow to $290.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to aging population, increase in healthcare access, rising prevalence of chronic diseases and rising demand for telemedicine services due to covid-19. Major trends in the forecast period include implementation of 5g, iot, artificial intelligence, virtual reality and augmented reality.

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Key Market Players:

Major companies operating in the telemedicine services market report are Teladoc Health Inc., Doctolib, Doctor on Demand, Amwell (American Well), MDLIVE Inc., Zocdoc Inc., Alina TeleHealth, HealthTap, Inc., 2nd.MD, PlushCare Inc.AMD Global Telemedicine, CISCO Systems Inc., Medtronic Inc., GE Healthcare, Honeywell Lifesciences, Philip Healthcare, Aerotel Medical Systems, CardioComm, Cerner Corporation, Apollo Hospitals, Neosoft, Allscripts Healthcare Solutions Inc., Biotelemetry, Resideo Technologies Inc., InTouch Technologies Inc., SHL Telemedicine, NovioSys BV, KSYOS Telemedicine Centre, Karify, Medgate, Medi24, Immedicare LLP, Babylon Health UK, Medio.link, Push Doctor, Tele Medicine Clinic, Doctor Care Anywhere Limited, Philips Healthcare, Cisco Systems UK, McKesson Corporation, GE Healthcare Ltd., Cerner Corporation, Teladoc Health Inc., DOC+, BestDoctor, TeleMD, mediSensum, Apteki Inc., American Well, Care Innovations LLC, BioTelemetry, Specialist Telemed, SOC Telemed, Eagle Telemedicine, Blue Sky Telehealth, NextGen Healthcare, VSee, OKADOC, Doxy.me, GetBEE, Mind Mina Telemedicine, Abu Dhabi Telemedicine Centre

Market Drivers:

Rising use of mobile phones across the globe is driving the telemedicine service market. According to World Bank, as of 2022 there are 8.59 billion mobile phones in the world which is more than the world population. Increased mobile phone usage facilitates greater access to telemedicine services, enabling convenient remote consultations and healthcare support, leading to the growth of telemedicine. Growing number of smartphone users across the globe is expected to boost the demand for the telemedicine services market.

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The telemedicine services market covered in this report is segmented -

1) By Type: Web-based, Cloud-based, On-premises
2) By Technology outlook: Real-Time Telemedicine Services, Store-And-Forward Telemedicine Services
3) By Application: Teleradiology, Telepsychiatry, Telepathology, Teledermatalogy, Telecardiology, Other Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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