USD 29.59 billion
U.S. Telehealth Market Size, Share, Growth Analysis, By Service(Tele-consulting, Tele-monitoring, Tele-education/training, others), By Type(Telehospital, Telehome), By Region - Industry Forecast 2024-2031
Report ID:
SQMIC35D2249 |
Region:
Country |
Published Date: April, 2024
Pages:
219
|Tables:
63
|Figures:
75
U.S. Telehealth Market Insights
U.S. Telehealth Market size was valued at USD 29.59 billion in 2022 and is poised to grow from USD 36.37 billion in 2023 to USD 189.28 billion by 2031, growing at a CAGR of 22.9% in the forecast period (2024-2031).
The U.S. Telehealth market has experienced an extraordinary transformation, becoming a cornerstone of the healthcare atmosphere. Telehealth refers to the usage of virtual technology, such as videoconferencing and faraway tracking, to offer healthcare offerings remotely. This marketplace has witnessed exponential growth, driven with the aid of a convergence of things.
The large availability of smartphones and high-pace net connectivity has made telehealth greater reachable to patients, permitting consultations with healthcare companies from the comfort in their houses. Moreover, regulatory modifications and repayment guidelines, which include increased coverage by using insurance vendors and federal programs, have facilitated the speedy expansion of telehealth offerings.
The U.S. Telehealth market spans a wide range of clinical specialties, such as number one care, intellectual fitness, dermatology, and continual disorder control. It has not simplest stepped forward to get right of entry to care for underserved populations but additionally reduced healthcare costs by means of removing the want for physical centers and decreasing affected person tour time.
Looking ahead, the U.S. Telehealth marketplace is poised for continued boom and innovation, with the ability to reshape the healthcare panorama, growth healthcare efficiency, and decorate affected person effects. However, challenges along with facts, security, licensure guidelines, and equitable access to generation want to be addressed to liberate the overall potential of telehealth in the United States.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Tele-consulting
Fastest Growth
Tele-consulting
Growth Rate
22.9% CAGR
U.S. Telehealth Market ($ Bn)
Country Share for U.S Region (%)
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U.S. Telehealth Market Segmental Analysis
The US telemedicine market is segmented through provider, type, uniqueness, aspect, shipping mode, and location. Based on service the market is segmented as, tele-consulting, tele-tracking, tele-education/schooling, others. Based on type the marketplace is segmented as, telehospital, telehome. Based on forte the market is segmented as, cardiology, gynecology, neurology, orthopedics, dermatology, mental health, crucial care, neonatology, others. Based on aspect the market is segmented as, hardware, software program, and service. Based on transport mode the marketplace is segmented as, web/mobile, telephonic, and visualized. Regional the market is segmented as U.S.
Analysis By Service
In the U.S. Telehealth marketplace, the tele-consulting segment has historically ruled and keeps to keep a giant percentage. Tele-consulting encompasses a extensive range of far flung healthcare services, which includes digital physician-patient consultations, expert consultations, and mental fitness counseling. This segment's dominance is attributed to the benefit it gives to patients with the aid of casting off geographical boundaries, lowering tour time, and improving the right of entry to healthcare professionals, mainly in rural or underserved regions. The COVID-19 p
andemic further accelerated the adoption of tele-consulting as sufferers and healthcare vendors sought safe alternatives to in-individual visits.
Simultaneously, the tele-monitoring segment represents the fastest-growing segment within the U.S. Telehealth market. Tele-monitoring involves the faraway monitoring of patients' important symptoms, persistent situations, and health statistics, permitting healthcare providers to music patient progress and interfere while essential. The growing occurrence of continual sicknesses, an aging population, and the growing significance of proactive healthcare control have driven the growth of tele-monitoring. Moreover, advancements in wearable devices and IoT generation have made faraway affected person monitoring greater accessible and efficient, contributing to the speedy enlargement of this phase.
Analysis By End-user
In the U.S. Telehealth marketplace, the telehome phase has emerged because of the dominant pressure, keeping a great percentage. Telehome services, which enable patients to obtain scientific consultations and care remotely from the comfort of their houses, have received a vast reputation, particularly in recent years. Factors including the benefit, reduced tour time, and the potential to get admission to healthcare services in an acquainted surroundings have contributed to the segment's dominance. The COVID-19 pandemic further extended the adoption of telehome services, as sufferers sought safer alternatives to in-person healthcare visits.
Conversely, the telehospital segment, which includes using telehealth technology within sanatorium settings, has shown an awesome increase and is the fastest-developing phase within the U.S. Telehealth market. Telehospital offerings facilitate faraway affected person monitoring, consultations between healthcare experts, and the efficient management of clinic resources. The pandemic underscored the significance of telehospital solutions in enabling healthcare vendors to successfully allocate sources and provide care to patients at the same time as minimizing physical contact.
U.S. Telehealth Market By Service
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U.S. Telehealth Market Regional Insights
In the U.S. Telehealth market, the largest and most influential area is the US itself. As the epicenter of technological innovation and home to numerous telehealth provider carriers and healthcare institutions, the U.S. Has seen significant increase in telehealth adoption. Factors along with a huge populace, healthcare infrastructure, and the increasing call for for handy and available healthcare services have driven the speedy growth of telehealth answers. Furthermore, regulatory adjustments and compensation policies, mainly throughout the COVID-19 pandemic, have expanded the combination of telehealth into the wider healthcare system.
The second-largest area inside the U.S. Telehealth market is Canada, which shares a border with the USA and has additionally witnessed big growth in telehealth services. Although Canada's telehealth marketplace is smaller in scale as compared to the U.S., it benefits from a similar fashion in the direction of telehealth adoption driven by the want for faraway healthcare to get entry to and a growing older population. Canadian provinces and territories had been exploring telehealth projects to bridge healthcare gaps in remote and underserved regions. While the market in Canada won't suit the scale of the U.S., it represents a noteworthy player inside the North American telehealth landscape.
U.S. Telehealth Market By Geography
- Largest
- Fastest
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U.S. Telehealth Market Dynamics
Drivers
Increased Demand for Remote Healthcare
- The convenience and accessibility of telehealth services have gained popularity, driven via the growing call for far off healthcare to get right of entry to. Patients seek on-demand scientific consultations, follow-up care, and chronic disorder control from the comfort in their homes.
Technological Advancements
- Continuous advancements in telehealth generation, along with improved video conferencing, mobile apps, wearables, and far flung monitoring devices, have better the general telehealth revel in for both sufferers and healthcare providers.
Restraints
Reimbursement Challenges
- Despite brief regulatory modifications for the duration of the pandemic, ongoing repayment challenges and uncertainties related to telehealth services can prevent broader adoption, in particular for companies who depend heavily on coverage reimbursements.
Privacy and Security Concerns
- Telehealth offerings involve the transmission of sensitive clinical records, elevating concerns approximately data privacy and protection breaches. Ensuring the confidentiality and protection of patient statistics is a sizable assignment.
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U.S. Telehealth Market Competitive Landscape
The competitive landscape of the U.S. Telehealth marketplace is dynamic and swiftly evolving, characterized with the aid of the presence of each mounted healthcare establishment and progressive tech-pushed companies. Major gamers encompass telehealth platform companies, healthcare systems, insurers, and startups. Teladoc Health, now a part of Livongo Health, is one of the enterprise leaders, offering a complete range of telehealth offerings. Another distinguished participant is Amwell, which affords a telehealth platform that integrates with numerous healthcare corporations.
Top Player’s Company Profiles
- Teladoc Health
- Amwell
- Doctor On Demand
- MDLive
- American Well
- 98point6
- PlushCare
- GoodRx
- Livongo Health (now part of Teladoc Health)
- Bright.md
- Grand Rounds
- Ro
- HealthTap
- MyTelemedicine
- Updox
- CareClix
- Medici
- MeMD
- SOC Telemed
- iCliniq
Recent Developments
- In January 2023, the Biden management introduced a plan to invest USD sixty five billion in telehealth over the following decade.
- In February 2023, the Centers for Medicare & Medicaid Services (CMS) introduced that it would make permanent the multiplied flexibilities for telehealth that were put in regions throughout the COVID-19 pandemic.
- In March 2023, the American Telemedicine Association launched a report that found that the quantity of telehealth visits inside the U.S. Elevated by 250% in 2020.
- In April 2023, the Food and Drug Administration (FDA) permitted the primary virtual truth (VR) headset for the remedy of chronic pain.
- In May 2023, the American Medical Association (AMA) released a white paper that referred to the improvement of a country wide telehealth policy.
U.S. Telehealth Key Market Trends
- Explosive Growth Driven by the Pandemic: The COVID-19 pandemic multiplied the adoption of telehealth in the U.S. Telehealth services saw a surge in demand as patients sought far off healthcare access to lessen the threat of contamination. The pandemic triggered regulatory modifications and elevated compensation regulations to assist telehealth, leading to its enormous use.
- Hybrid Care Models: Hybrid care fashions, which combine in-character and virtual visits, received traction. Healthcare companies more and more embraced a combination of telehealth and conventional in-person care to offer extra bendy and patient-centric services.
U.S. Telehealth Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component type’s team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our U.S. Telehealth market analysis, the U.S. Telehealth marketplace has evolved swiftly, driven by way of a confluence of factors, and keeps to shape the healthcare landscape. Geographically, the whole United States is a thriving hub for telehealth offerings, with a splendid presence throughout city and rural areas. The marketplace is segmented into primary classes: "Telehospital" and "Telehome." The "Telehome" section, encompassing remote affected person consultations and tracking from the comfort of 1's house, has gained dominance. This shift is largely attributed to comfort, decreased travel, and the wider adoption of telehealth for the duration of the COVID-19 pandemic. Key drivers encompass the pandemic itself, which brought on regulatory changes and heightened the importance of far off healthcare access. Technological advancements, including advanced video conferencing and wearable fitness devices, have also been instrumental. Furthermore, the convenience aspect, coupled with free financial savings for each sufferer and healthcare providers, has solidified telehealth as a fundamental part of the U.S. Healthcare system, paving the way for its persisted growth and integration into affected person care.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 29.59 billion |
| Market size value in 2031 | USD 189.28 billion |
| Growth Rate | 22.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on U.S. Telehealth Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on U.S. Telehealth Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the U.S. Telehealth Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Telehealth Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Telehealth Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the U.S. Telehealth Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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