Telehealth Market Size, Share, Growth Analysis, By Product Type (Hardware, Software), By Disease Area (General Medicine, Psychiatry), By Delivery Mode (On-premises, Cloud-based), By End Use (Payers, Patients), By Region - Industry Forecast 2024-2031

Global Telehealth Market size was valued at USD 76.57 billion in 2022 and is poised to grow from USD 101.17 billion in 2023 to USD 577.27 billion by 2031, growing at a CAGR of 24.32% during the forecast period (2024-2031).

In recent times, the telehealth market is majorly driven by the rising adoption of digital health and smartphones, increasing investments, and enhanced internet connectivity. The increasing adoption of telehealth facilities by patients, physicians, and government facilities is also boosting the market growth. Furthermore, accessibility to medical care has become easy with the help of applications and video consultations. This allows smooth interaction among patients and doctors in remote areas, reducing the necessity to visit hospitals or clinics. Key market players like Apple, Google, and IBM emphasize on enhancing mobile health experience by offering several solutions with various subscription plans and improving data security. These factors are driving the telehealth market. The popularity of telehealth platforms is increasing among consumers due to the availability of medical professional services such as consultations at the press of a button. The growing investments for the advancements of IT structures and increasing adoption of smartphones is also fueling the growth of the market. Telehealth is becoming a vital distribution channel for the doctors to provide their services. Therefore, the growing demand for telehealth platforms among people and physicians is propelling the growth of telehealth market.