Report ID: SQMIG35G2214
Telemedicine Market Size, Share, Growth Analysis, By Component (Product, Services), Modality (Asynchronous, Videoconferencing), By Application (Teleradiology, Telepsychiatry), By End Use (Healthcare Provider, Healthcare Consumers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2214 |
Region:
Global |
Published Date: August, 2024
Pages:
165
|
Tables:
118 |
Figures:
77
Telemedicine Market Competitive Landscape
The global telemedicine market is growing at a stable yet dynamic rate with the rising need for treatment from a distance, increasing healthcare costs, and technological advancement. It competes with a broad spectrum of businesses, such as IT companies, traditional healthcare service providers, and more recent entrants in the form of innovative start-ups. Players in the healthcare industry rely on their strong portfolio of healthcare products & services and their experience, while newcomers use disruptive technologies such as artificial intelligence, the Internet of Things, and remote monitoring.
Top Player’s Company Profiles
- AMC Health
- Teladoc Health Inc.
- The Cigna Group
- MDlive, Inc.
- Twilio Inc.
- SOC Telemed, Inc.
- Vsee
- ACL Digital
- ICliniq
- Oracle Corporation
- Oracle Corporation
- Oracle Corporation
- General Electric Company
- American Well Corporation
- Doctor on Demand, Inc.
Telemedicine Market Report Snapshots
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Global Telemedicine Market size was valued at USD 97.48 Billion in 2022 and is poised to grow from USD 114.98 Billion in 2023 to USD 430.72 Billion by 2031, growing at a CAGR of 17.95% in the forecast period (2024-2031).
The global telemedicine market is growing at a stable yet dynamic rate with the rising need for treatment from a distance, increasing healthcare costs, and technological advancement. It competes with a broad spectrum of businesses, such as IT companies, traditional healthcare service providers, and more recent entrants in the form of innovative start-ups. Players in the healthcare industry rely on their strong portfolio of healthcare products & services and their experience, while newcomers use disruptive technologies such as artificial intelligence, the Internet of Things, and remote monitoring. 'AMC Health ', 'Teladoc Health Inc.', 'The Cigna Group', 'MDlive, Inc.', 'Twilio Inc.', 'SOC Telemed, Inc.', 'Vsee ', 'ACL Digital ', 'ICliniq ', 'Oracle Corporation', 'Oracle Corporation', 'Oracle Corporation', 'General Electric Company ', 'American Well Corporation ', 'Doctor on Demand, Inc. '
Artificial intelligence (AI), machine learning (ML), telemedicine apps, virtual hospitals, and the Internet of Things (IoT) are among the contemporary technologies that are becoming more and more popular. Applications developed using machine learning algorithms can help detect cancer, other chronic illnesses, and uncommon disorders.
The North American market grew significantly in 2022 and is likely to dominate the market in the forecast period as well. Significant companies such as Teladoc, MDLive, and others, along with strong government support and an increase in teleconsultations, are driving the market's expansion in this region. In 2022, the American Medical Association conducted a survey with 93% of physicians expressing satisfaction with the use of digital health devices. This percentage was 85% in 2016. Furthermore, the percentage of telehealth visits increased from 14% in 2016 to 28% in 2019 and to 80% in 2022. This will be most anticipated to contribute to the growth of the North American market.
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