Telehealth Services Market (By Service Type: Real Time Interactions, Remote Patient Monitoring; By Delivery Mode; By End-use; By Application) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global telehealth services market size was estimated at around USD 26.5 billion in 2021 and it is projected to hit around USD 291.8 billion by 2030, growing at a CAGR of 30.54% from 2022 to 2030.

The increasing smartphone penetration across the globe, coupled with improving internet connectivity, is paving a path for accessible and affordable telehealth services. According to bankmycell estimates, the global smartphone penetration accounts for 83.4% of the total population with approximately 6.6 billion users and 10.8 billion IoT cellular connections. Growing healthcare digitalization and increasing number of technology-friendly users are boosting industry growth. Growing demand for simplified disease management coupled with overburdened healthcare facilities with depleting resources is boosting adoption rates. The ongoing COVID-19 pandemic is one of the key driving forces responsible for the significant surge in the implementation of telehealth services across various areas in the healthcare supply chain. Patients are using virtual care solutions to track and monitor their health, schedule appointments, and receive medical assistance conveniently. For example, some of the market participants offering different telehealth solutions are MDLive, Teladoc Health, Doctor on Demand, Lemonaid, American Well, and 10To8. 

The COVID-19 pandemic overburdened the existing crippling healthcare industry and further exhausted medical care personnel, thereby driving the demand for teleconsultations and virtual care. For instance, the U.S. government reserved funding of USD 200 million for telehealth services under the Coronavirus Aid. Relief, and Economic Security (CARES) Act. This funding would be used to enhance the accessibility of virtual care technologies across remote locations. Telemedicine platform vendors witnessed a surge in the number of active members in 2020 and 2021 as compared to the pre-pandemic era. Prominent changes in patients’ and providers’ attitudes towards telehealth solutions positively impacted the growth of the market. Furthermore, government authorities and regulatory bodies introduced reforms in their reimbursement policies to offer insurance coverage for virtual care services. For instance, in 2021, the Centers for Medicare and Medicaid Services introduced its reimbursable telehealth codes for physicians. Similarly, Singapore-based Doctor Anywhere partnered with Cigna and AIG to offer free virtual consultations to members across Vietnam, Singapore, and Thailand. Lastly, increasing public-private partnerships and widespread adoption of digital health technologies are anticipated to support industry growth. 

The real-time interactions segment dominated the market in 2021 owing to the growing demand for live monitoring and managing of chronic diseases coupled with instant access to care services. The web-based segment emerged as the leading segment in 2021 owing to the availability of several web-based solutions offering direct access to patients. Patients led the market in 2021 owing to the growing awareness pertaining to digital health technologies, increasing technology-friendliness, and rising prevalence of diseases. North America accounted for the largest revenue share in 2021 owing to the increasing digital literacy, growing healthcare IT expenditure, developing infrastructure, and presence of key companies. 

Scope of The Report

Service Type Insights

In 2021, the real-time interactions segment dominated the market and accounted for a revenue share of over 25.0% owing to the widespread adoption in managing chronic diseases, increasing demand for real-time monitoring, advancements in digital health infrastructure, increasing number of mobile internet users, and growing demand to minimize increasing healthcare expenses. Furthermore, integration of AI/ML algorithms into telehealth solutions supports care providers in making real-time data-backed decisions enhancing patient care journey and improving clinical outcomes. Growth in synchronous (real-time provider-patient audio/video consultations) virtual visits coupled with live patient health data collection is driving the segment. Telehealth platforms using configuration tools can seamlessly integrate patient health information arising from live interactions on virtual platforms across multiple care settings. 

Remote patient monitoring is anticipated to register the fastest growth over the forecast period owing to the constantly developing digital health space and development of numerous platforms and tools to monitor and manage diseases and track patient health and fitness. Increasing healthcare expenses and rising demand for accurate real-time monitoring of patient health are supporting the adoption of remote patient monitoring services. Emerging economies are focusing on their digital health investments to improve infrastructure and address gaps in healthcare delivery in remote and rural locations. Developed nations are adopting value-based care models and the public and private stakeholders are undertaking several initiatives to promote the adoption of telehealth services. 

Delivery Mode Insights

In 2021, the web-based delivery segment accounted for the largest revenue share of over 45.0%. This is attributed to the availability of multiple virtual care applications and telehealth platforms on the web. Web-based platforms offer users direct access to care solutions. Evolving smartphone industry coupled with improving internet connectivity in remote locations is contributing to the growth of the segment. Web-based telehealth solutions are built with an intuitive user interface and are cost-effective compared to other virtual care solutions. Growth in public and private initiatives to promote virtual care solutions and increased funding in the industry are driving the segment.

The cloud-deployed telehealth services segment is anticipated to register the fastest growth rate over the forthcoming years owing to the emergence of technologically advanced platforms, enhanced accessibility, increased bandwidth, growth in the awareness levels among patients and care personnel, improved data security and privacy, and data storage and recovery. Web-based applications and platforms are more prone to data thefts and breaches as compared to cloud-deployed solutions, which is fueling the growth of the segment. Teleconsultations and patient monitoring using cloud-deployed platforms have enhanced medical care accessibility in rural locations. 

End-use Insights

In 2021, the patients segment dominated the market and accounted for a revenue share of over 40.0% owing to growing adoption rates of virtual care platforms and telehealth applications, increased convenience, affordability, and accessibility of care solutions. The patients segment is anticipated to register the fastest growth rate over the forthcoming years. This is attributed to increasing awareness and health consciousness, smartphone penetration and internet connectivity, growing technology-friendly users, and increasing number of active subscribers. These technological solutions have successfully overcome the care and communication gaps existing between patients and providers. 

Growing digitalization of healthcare and widespread adoption of mobile health (or mHealth) technologies have enabled the seamless exchange of healthcare information. Emergence of virtual care centers and numerous pilot programs to adopt telemedicine and teleconsultation platforms is improving the accessibility and affordability of care services for patients. For example, Mercy Hospitals and Inova Health Systems in the U.S. are implementing telemedicine facilities and virtual care centers addressing care domains. Innovation and development of new virtual care solutions in the field of neurology, psychiatry, radiology, mental health, stroke care, and dermatology are expected to accelerate segment growth. 

Application Insights

In 2021, tele-radiology segment dominated the market and accounted for a revenue share of over 20.0% owing to the rapid adoption of tele-radiology workflow by healthcare facilities, growing diagnostic imaging centers, and the introduction of favorable tele-radiology practices. Medical imaging solution is one of the pioneering fields in medicine to readily adopt virtual care and telehealth solutions. In addition, the shortage of skilled radiologists and other radiology staff is driving the demand for tele-radiology services. Implementation of Picture Archiving and Communication System (PACS) and integration of advanced AI/ML algorithms into tele-radiology solutions are anticipated to drive the demand for the same and positively impact the growth of the segment. Furthermore, advancements in digital image processing techniques coupled with improving internet connectivity and high transmission speed are supporting the growth of the tele-radiology segment. The emergence and implementation of mHealth technologies in visualizing and analyzing images are further boosting the growth of the segment across developed countries.

The tele-psychiatry segment is anticipated to register the fastest growth rate in the forecast period owing to the increasing global prevalence of mental health ailments and behavioral disorders. Increasing awareness among patients and care providers regarding tele-psychiatry solutions is boosting segment growth. For example, MDLive offers virtual consultations with a broad team of psychiatrists and counselors addressing a wide array of mental disorders. Increasing awareness regarding the importance of mental health and well-being and the presence of favorable government initiatives promoting mental health are accelerating the growth of tele-psychiatry. 

Regional Insights

In 2021, North America dominated the market and accounted for a revenue share of over 50.0%. This is attributed to the presence of renowned market players, emergence of entrepreneurial ventures, increase in healthcare IT expenditures, advancements in digital health infrastructure, high-quality internet connectivity, growing technology-friendly smartphone users, overburdened physical healthcare centers and resources, and rising incidence of chronic diseases. The availability of cloud-deployed virtual care solutions and applications coupled with growing awareness regarding digital health is driving the North American market.

The Middle East and Africa is anticipated to register the fastest growth rate over the forecast period. Increasing healthcare IT expenditure and rising digital readiness among MEA countries are driving the regional market. For instance, the Saudi Arabian government launched the Kingdom Vision 2030 initiative to promote and boost healthcare digitalization and significantly transform patient care experience while improving overall efficiency. Growing deficits of healthcare personnel are driving the demand for telehealth services in the MEA. For instance, as per the Institute for Health Metrics and Evaluation estimates in May 2022, the Middle East, South Asia, and North African regions observed the largest shortfall of care personnel. Lastly, growing smartphone penetration and improving internet connectivity are paving a path for the smooth adoption of virtual care services in the MEA. As per the GSMA Mobile Economy estimates, there are over 300 million mobile users in the MEA countries, and the smartphone penetration as of 2022 in this region is 50% of the total population.

Key Players

• Koninklijke Philips N.V.
• Siemens Healthineers
• Cerner Corporation
• GE Healthcare
• Medtronic PLC
• Zoom
• Doxy.me
• Cisco Systems
• Teladoc Health Inc.
• American Well
• Doctor on Demand
• GlobalMed
• MDLive
• HealthTap, Inc.
• Practo
• PlushCare 

Market Segmentation

• By Service Type Outlook

• Remote Patient Monitoring
• Real Time Interactions
• Store & Forward
• Video/ Audio Consultations
• Physician-to-physician Contact
• Appointment Scheduling
• Patient Medical Data Collections
• Other Telehealth Services
• By Delivery Mode Outlook
• Web-based
• Cloud-based
• Others
• By End-use Outlook
• Providers
• Payers
• Patients
• By Application Outlook
• Tele-radiology
• Tele-psychiatry
• Tele-cardiology
• Tele-dermatology
• Tele-pathology
• Others
• By Regional Outlook
• North America

• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Spain
• Italy
• Russia
• Netherlands
• Sweden
• Switzerland
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• UAE
• Saudi Arabia
• Israel