Telemedicine Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Telehospitals, Telehomes and mHealth (mobile health)), By Product (Hardware, Software and Others), By Service (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry and Others) and Region  

Telemedicine Market size was valued at US$ 80.4 billion in 2023, and poised to grow at significant CAGR of 26.6% from 2024-2030. Some of the key factors fostering the market growth include increasing remote patient monitoring, growing burden of chronic diseases, rising healthcare costs, widespread availability of the internet and high-quality video devices, growing demand for tele-neurology services especially amongst the older patient population and various technological advancements in telecommunications network.

However, high initial capital requirements, lack of physician support and strict legal & reimbursement issues are the major factors hindering the market growth. The COVID-19 pandemic is giving monstrous freedoms to telehealth arrangements, taking into account that social removing is the lone existing arrangement grown up until now, which is fit for limiting openness. In accordance with this, telehealth addresses an appealing, powerful, and reasonable choice. In addition, this innovation is of basic significance in protecting medical care suppliers. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. 

Telemedicine Market Key Developments

• In May 2018, Allscripts acquired HealthGrid Holding Company. This acquisition will enable significant expansion of the Follow My Health platform portfolio and spur revenue generation.