Global Telemedicine Market: Analysis and Forecast, 2019-2030

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Report Description

Market Report Coverage - Telemedicine
Forecast Period: 2019-2030
CAGR During Forecast Period: 17.16%

Market Report Coverage - Telemedicine
Base Year	2019	Market Size in 2019	$21.55 Billion
Forecast Period	2019-2030	Value Projection and Estimation by 2030	$123.0 Billion
CAGR During Forecast Period	17.16%	Number of Tables	17
Number of Pages	239	Number of Figures	117
Research Hours	200
Market Segmentation	• Component – Hardware, Software and Services • Application – Teleradiology, Tele-psychiatry, Tele-stroke, Tele-dermatology, Others • Mode of Delivery – Cloud based, and On-Premise • Type – Tele-hospitals/Clinics, and Tele-homes
Regional Segmentation	• North America – U.S., Canada • Europe – Germany, France, Italy, U.K., Spain, Turkey, Belgium, Switzerland, Russia, Sweden, Netherlands, Denmark, Norway, Czech Republic, Finland, Austria, Ireland • Asia-Pacific – Japan, China, India, South Korea, Australia and New Zealand, Taiwan, Thailand, Malaysia, Singapore, Indonesia, Philippines • Latin America – Brazil, Mexico, Argentina, Chile, Venezuela, Colombia, Panama, Uruguay, Puerto Rico • Rest-of-the-World – Kingdom of Saudi Arabia (K.S.A.), Israel, Qatar, Pakistan, Egypt, Kuwait, Lebanon
Growth Drivers	• Surge in population and need to expand healthcare access • Rising prevalence of chronic conditions and cost-benefits of telehealth & telemedicine • Shortage of physicians • Advancements in telecommunication technology • Government support and rising awareness
Market Challenges	• Reimbursement framework • Lack of integration • Lack of sufficient data for care continuity • Awareness related to services • Lack of technical skills among patients
Market Opportunities	• Providing frontline care • Remote monitoring of compliance with treatment plans and medication • Behavioral health telemedicine consultations
Key Telemedicine Companies Profiled	Teladoc Health Inc., Doctor On Demand, MDLIVE, Inc., American Well, Virtrial Inc., AMD Global Telemedicine, Inc., Poly, Koninklijke Philips N.V, General Electric Company (GE), International Business Machines Corporation (IBM), Crossover Health, Inc., Allscripts Healthcare Solutions, Inc., Cisco Systems, Inc., and Intel Corporation, among others.

Key Questions Answered in this Report:

What are the major market drivers, challenges, and opportunities in the global Telemedicine market?

Market Overview

With the ongoing COVID-19 pandemic, Telemedicine services have become a critical asset for the healthcare community.

Telemedicine is a powerful tool that makes healthcare accessible, cost-effective, and significantly enhances patient engagement. The debut of telemedicine dates back to late 1950s and has constantly evolved over the years with advancements in the field of tele-communication technology. The application of telemedicine is enormous. It enables physicians and patients to share real time health-related information from one computer screen to another. With the help of a telemedicine software, patients can connect with a doctor at the comfort of their home for diagnosis as well as treatment without needing an appointment.

The demand for telemedicine has significantly increased due to the cost savings opportunity offered by the technology. It also reduces the need for patients to visit an emergency room and the costs associated with the same. As per a study published in healthaffairs.org (2017), the average cost of telemedicine visit is $79 while the average doctor’s visit is $149 and the average trip to the emergency room is $1,734.

As the demand and popularity for telemedicine grows, many health insurance plans are also starting to provide coverage for tele-consultations. In the U.S., many states such as Arkansas, Delaware, Georgia, and Hawaii, have laws established that require health insurance plans to reimburse remotely delivered care at the same rate as in-person doctor visits.

With the ongoing COVID-19 pandemic, telemedicine services have become a critical asset for the healthcare community. The telemedicine services can provide efficient delivery of care especially for populations and patients affected by the COVID-19 infection, especially when under active quarantine. Under these critical times, these services can significantly help healthcare systems to reduce resource usage across the stressed health-care infrastructure, ameliorates access to care, and reduces the risk of direct person-to-person transmission of the infectious agent.

The current telemedicine market is strongly fuelled by the fears related to coronavirus and staggering shifts in payment rules. To further boost the demand, many health insurers have also come forward. For example, in February, Aetna, a leading health insurance provider waived its $45 patient co-payment for virtual care. In 3rd week of March, Medicare also allowed its enrolled customers to use telemedicine. This option was previously available to only people living in remote areas. The demand surge can also be understood from the fact that Cleveland Clinic, a leading health system in the U.S., logged more than 60,000 telemedicine visits in March, while prior to the month, the health system registered only 3,400 visits a month.

Within the research report, the market is segmented on the basis of component type, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

In the global telemedicine market, the revenue is majorly generated by four key participants: telemedicine software providers, remote patient monitoring device manufacturers, infrastructure and connectivity providers, and telemedicine service providers.

As of 2019, the telemedicine software companies (including RPM software and health IT infrastructure providers) generated a revenue of $7.07 billion while remote patient monitoring device manufacturers generated a revenue of $5.94 billion followed by infrastructure and connectivity providers ($5.26 billion) and telemedicine service providers ($1.78 billion).

In the hardware segment some of the major companies include Masimo, Medtronic, and GE Healthcare, accounting for 15.75%, 14.04%, and 13.46% of the overall market, respectively.

Among the software providers, Microsoft held the largest share in the global telemedicine market accounting for 33.50% of the overall market, followed by IBM and Allscripts, accounting for 25.45%, and 22.34% of the market, respectively.

From a service provider perspective, Ping A Good Doctor was the global leader in the telemedicine services market accounting for 40.10% of the overall market in 2019. This is followed by Teladoc and Amwell, accounting for 31.00% and 11.60% of the global telemedicine services market, respectively.

Additionally, several start-ups emerged to provide telehealth consultations globally, such as 98point6, Vida Health, Medici, Healthtap, Maven Clinic, Doctor Anywhere, Zipnosis, SnapMD, Cloudbreak Health, Cloud DX, Maple, TeleClinic, and Genome Medical.

1.1 Inclusion and Exclusion

2.1 Key Questions Answered in the Report

3.1   Primary Data Sources
3.2   Secondary Data Sources
3.3   Market Estimation Model
3.4   Companies Profiled
3.5   Assumptions and Limitations

4.1   Evolution of Telemedicine
4.2   Need for Telemedicine: A View of Changing Medical Practices
4.3   Telemedicine Changing Medical Practices
4.4   Level of Telemedicine Adoption from a Pre-and Post-COVID-19 Perspective
4.4.1   Pre-COVID Scenario
4.4.2   During COVID-19 Scenario
4.4.3   Post-COVID-19 Scenario
4.5   Competitive Landscape: Existing and New Entrant Competition Analysis
4.6   Funding Scenario
4.7   Reimbursement and Regulatory Scenario

5.1   Business Model and Revenue Channel Analysis (for New Entrants and Existing Players)
5.2   Cost Analysis (in Terms of Infrastructure such as (Hardware/Software/ Services)
5.2.1   Hardware
5.2.2   Software
5.2.3   Teleconsultation Services
5.3   Consumer Spending Analysis
5.4   Readiness of Geographies (in Terms of Digital Infrastructure)

6.1   North America
6.1.1   U.S.
6.1.2   Canada
6.2   Europe
6.2.1   Germany
6.2.2   France
6.2.3   Italy
6.2.4   Spain
6.2.5   U.K.
6.3   Asia-Pacific
6.3.1   India
6.3.2   China
6.3.3   South Korea
6.3.4   Japan

7.1   Market Drivers
7.1.1   Increase in Patient Demand for Virtually Delivered Care
7.1.2   Increased Reimbursement for Remote Care Services
7.1.3   Urgent Need to Reduce the Cost of Care
7.1.4   Increasing Regulatory Approval
7.2   Market Restraints
7.2.1   Reluctance by Physicians
7.2.2   Lack of ICT (Information and Communications Technology) Infrastructure in Rural Areas
7.2.3   Data Privacy
7.3   Market Opportunities
7.3.1   Accelerated Growth in the Post-COVID-19 World
7.3.2   Increase in Funding for the Telehealth Start-Up Ecosystem
7.3.3   Remote Monitoring

8.1   Recent Key Developments
8.1.1   Product Launches
8.1.2   Collaborations and Partnerships
8.1.3   Mergers and Acquisitions
8.1.4   Funding
8.1.5   Joint Ventures
8.2   Market Share Analysis

9.1   Hardware
9.2   Software
9.3   Services

10.1   Real-Time Video
10.2   Remote Patient Monitoring (RPM)
10.3   Store and Forward
10.4   Others

11.1   Teleradiology
11.2   Telecardiology
11.3   Telepathology
11.4   Tele-ICU
11.5   Telepsychiatry
11.6   Teledermatology
11.7   Others
11.7.1   Telestroke
11.7.2   Tele-endocrinology
11.7.3   Telegynecology
11.7.4   Teleophthalmology
11.7.5   Telenephrology

12.1 Cloud-Based
12.2 On-Premise

13.1 Tele-Hospitals
13.2 Tele-Home

14.1   North America
14.1.1   U.S.
14.1.2   Canada
14.2   Europe
14.2.1   U.K.
14.2.2   Spain
14.2.3   Italy
14.2.4   Germany
14.2.5   France
14.2.6   Netherlands
14.2.7   Poland
14.2.8   Sweden
14.2.9   Denmark
14.2.10   Rest-of-Europe
14.3   Asia-Pacific
14.3.1   India
14.3.2   South Korea
14.3.3   Japan
14.3.4   Australia
14.3.5   China
14.3.6   Rest-of-Asia-Pacific
14.4   Rest-of-the-World
14.4.1   Brazil
14.4.2   Mexico
14.4.3   Kingdom of Saudi Arabia
14.4.4   United Arab Emirates
14.4.5   Israel
14.4.6   South Africa
14.4.7   Russia
14.4.8   Rest-of-RoW

15.1   Allscripts Healthcare Solutions, Inc.
15.1.1   Company Overview
15.1.2   Role of Allscripts Healthcare Solutions, Inc. in the Global Telemedicine Market
15.1.3   Product Offerings
15.1.4   Recent Developments
15.1.5   Financials
15.1.6   SWOT Analysis
15.2   AMD Global Telemedicine, Inc.
15.2.1   Company Overview
15.2.2   Role of AMD Global Telemedicine, Inc. in the Global Telemedicine Market
15.2.3   Product Offerings
15.2.4   Recent Developments
15.2.5   SWOT Analysis
15.3   American Well
15.3.1   Company Overview
15.3.2   Role of American Well in the Global Telemedicine Market
15.3.3   Product Offerings
15.3.4   Recent Developments
15.3.5   SWOT Analysis
15.4   Cisco Systems, Inc.
15.4.1   Company Overview
15.4.2   Role of Cisco Systems, Inc. in the Global Telemedicine Market
15.4.3   Product Offerings
15.4.4   Recent Developments
15.4.5   Financials
15.4.6   SWOT Analysis
15.5   Crossover Health, Inc.
15.5.1   Company Overview
15.5.2   Role of Crossover Health, Inc. in the Global Telemedicine Market
15.5.3   Product Offerings
15.5.4   Recent Developments
15.5.5   SWOT Analysis
15.6   Doctor On Demand
15.6.1   Company Overview
15.6.2   Role of Doctor On Demand in the Global Telemedicine Market
15.6.3   Product Offerings
15.6.4   Recent Developments
15.6.5   SWOT Analysis
15.7   General Electric Company (GE)
15.7.1   Company Overview
15.7.2   Role of General Electric in the Global Telemedicine Market
15.7.3   Product Offerings
15.7.4   Recent Developments
15.7.5   Financials
15.7.6   SWOT Analysis
15.8   iCliniq
15.8.1   Company Overview
15.8.2   Role of iCliniq in the Global Telemedicine Market
15.8.3   Product Offerings
15.8.4   SWOT Analysis
15.9   Intel Corporation
15.9.1   Company Overview
15.9.2   Role of Intel Corporation in the Global Telemedicine Market
15.9.3   Product Offerings
15.9.4   Recent Developments
15.9.5   Financials
15.9.6   SWOT Analysis
15.10 International Business Machines Corporation (IBM)
15.10.1   Company Overview
15.10.2   Role of IBM in the Global Telemedicine Market
15.10.3   Product Offerings
15.10.4   Recent Developments
15.10.5   Financials
15.10.6   SWOT Analysis
15.11   Koninklijke Philips N.V.
15.11.1   Company Overview
15.11.2   Role of Koninklijke Philips N.V. in the Global Telemedicine Market
15.11.3   Product Offerings
15.11.4   Recent Developments
15.11.5   Financials
15.11.6   SWOT Analysis
15.12   MDLIVE, Inc.
15.12.1   Company Overview
15.12.2   Role of MDLIVE, Inc. in the Global Telemedicine Market
15.12.3   Product Offerings
15.12.4   Recent Developments
15.12.5   SWOT Analysis
15.13   Poly
15.13.1   Company Overview
15.13.2   Role of Poly in the Global Telemedicine Market
15.13.3   Product Offerings
15.13.4   Recent Developments
15.13.5   Financials
15.13.6   SWOT Analysis
15.14   Teladoc Health Inc.
15.14.1   Company Overview
15.14.2   Role of Teladoc Health, Inc. in the Global Telemedicine Market
15.14.3   Product Offerings
15.14.4   Recent Developments
15.14.5   Financials
15.14.6   SWOT Analysis
15.15   VirTrial Inc.
15.15.1   Company Overview
15.15.2   Role of VirTrial Inc. in the Global Telemedicine Market
15.15.3   Product Offerings
15.15.4   Recent Developments
15.15.5   SWOT Analysis

Table 4.1:   Timeline for Telemedicine Development
Table 4.2:   Change in Adoption of Telemedicine in Different Medical Specialties (Pre-COVID Scenario)
Table 4.3:   Change in Adoption of Telemedicine in Different Medical Specialties (During COVID-19)
Table 4.4:   Snapshot of Key Participants in the Telemedicine Market
Table 4.5:   U.S. Hospitals with the Highest Funding from FCC's COVID-19 Telehealth Program
Table 4.6:   Recent Funding Rounds Pertaining to the Telemedicine Market
Table 5.1:   A Comparison of Nine Successful Business Models from Diverse Geographic Regions and Revenue Streams
Table 5.2:   Hardware Cost Analysis: Global Telemedicine Market
Table 5.3:   Software Cost Analysis: Global Telemedicine Market
Table 5.4:   Teleconsultation Cost Analysis: Global Telemedicine Market
Table 5.5:   Global Infrastructure for Telemedicine
Table 6.1:   Telemedicine Regulations Followed by States in the U.S.
Table 6.2:   Telemedicine Regulations Followed by Province/Territory in Canada
Table 9.1:   Major Hardware Components Used in Telemedicine Programs
Table 9.2:   Leading Commercially Available Telemedicine Software and their Providers
Table 9.3:   Leading Telemedicine Service Providers in the Market
Table 12.1:   Telemedicine Software Providers offering Cloud solutions/ Cloud and On-Premise Solutions to Healthcare Providers

Figure 1:   Increase in Number of Telehealth Users in the U.S. (2013 and 2018)
Figure 2:   Use of Telehealth in the U.S. Hospitals (2010-2017)
Figure 3:   Global Challenges Inhibiting the Market Growth
Figure 4:   Key Opportunities in the Global Telemedicine Market
Figure 5:   Global Telemedicine Market, $Billion, 2019-2030
Figure 6:   Global Telemedicine Market (by Component Type), $Billion, 2019 and 2030
Figure 7:   Global Telemedicine Market (by Hardware Type), $Billion, 2019, 2025, and 2030
Figure 8:   Global Telemedicine Market (by Type/Service Delivery Model), $Billion, 2019, 2025, and 2030
Figure 9:   Global Telemedicine Market (by Medical Specialty), $Billion, 2019 and 2030
Figure 10:   Global Telemedicine Market (Mode of Delivery), $Billion, 2019-2030
Figure 11:   Global Telemedicine Market (by Type), $Billion, 2019-2030
Figure 12:   Global Telemedicine Market (by Region), $Billion, 2019 and 2030
Figure 2.1:   Global Telemedicine Market Segmentation
Figure 3.1:   Global Telemedicine Market Methodology
Figure 3.2:   Primary Research Methodology
Figure 3.3:   Bottom-Up Approach (Segment-Wise Analysis)
Figure 3.4:   Top-Down Approach (Segment-Wise Analysis)
Figure 4.1:   The Decline in Number of Visits to Ambulatory Practices (Percentage)
Figure 4.2:   A Comparison of Decline in Number of In-Person Visits and All Types of Visits (Telemedicine and In-Person Visits)
Figure 4.3:   Number of Telehealth Visits in a Given Week as a Percent of Baseline Total Visits
Figure 4.4:   Number of Telehealth Visits in a Given Week, by Medical Specialty
Figure 4.5:   Niche Players in the Global Telemedicine Services Market
Figure 4.6:   Global Overall Competitive Ecosystem (Including Hardware + Software)
Figure 8.1:   Share of Key Developments and Strategies (N = 268)
Figure 8.2:   Market Share Analysis for RPM Device Manufacturers in the Telemedicine Market
Figure 8.3:   Market Share Analysis for Software Providers in the Telemedicine Market
Figure 8.4:   Market Share Analysis for Service Providers in the Telemedicine Market
Figure 9.1:   Illustration of Global Telemedicine Market Components
Figure 9.2:   Global Telemedicine Market Share (by Component Type) in 2019
Figure 9.3:   Global Telemedicine Hardware Market, $Billion, 2019-2030
Figure 9.4:   Global Telemedicine Software Market, $Billion, 2019-2030
Figure 9.5:   Global Telemedicine Services Market, $Billion, 2019-2030
Figure 10.1:   Global Telemedicine Market (by Technology)
Figure 10.2:   Global Real-Time Telemedicine Market, $Billion, 2019-2030
Figure 10.3:   Global Remote Monitoring Telemedicine Market, $Billion, 2019-2030
Figure 10.4:   Global Store and Forward Telemedicine Market, $Billion, 2019-2030
Figure 10.5:   Others Telemedicine Type Market, $Billion, 2019-2030
Figure 11.1:   Global Teleradiology Market, $Billion, 2019-2030
Figure 11.2:   Impact of Market Drivers and Market Restraints
Figure 11.3:   Global Telecardiology Market, $Billion, 2019-2030
Figure 11.4:   Global Telepathology Market, $Billion, 2019-2030
Figure 11.5:   Global TeleICU Market, $Billion, 2019-2030
Figure 11.6:   Global Telepsychiatry Market, $Billion, 2019-2030
Figure 11.7:   Global Teledermatology Market, $Billion, 2019-2030
Figure 11.8:   Other Medical Specialty Market, $Billion, 2019-2030
Figure 12.1:   Global Cloud Based Telemedicine Solutions, $Billion, 2019-2030
Figure 12.2:   Global On-Premise Telemedicine Solutions, $Billion, 2019-2030
Figure 13.1:   Global Tele-Hospitals/Teleclinics Market, $Billion, 2019-2030
Figure 13.2:   Global Telehome Market, $Billion, 2019-2030
Figure 14.1:   North America Telemedicine Market, $Billion, 2019-2030
Figure 14.2:   U.S. Telemedicine Market, $Billion, 2019-2030
Figure 14.3:   Canada Telemedicine Market, $Billion, 2019-2030
Figure 14.4:   Europe Telemedicine Market, $Billion, 2019-2030
Figure 14.5:   U.K. Telemedicine Market, $Billion, 2019-2030
Figure 14.6:   Spain Telemedicine Market, $Billion, 2019-2030
Figure 14.7:   Italy Telemedicine Market, $Billion, 2019-2030
Figure 14.8:   Germany Telemedicine Market, $Billion, 2019-2030
Figure 14.9:   France Telemedicine Market, $Billion, 2019-2030
Figure 14.10:   Netherlands Telemedicine Market, $Billion, 2019-2030
Figure 14.11:   Poland Telemedicine Market, $Billion, 2019-2030
Figure 14.12:   Sweden Telemedicine Market, $Billion, 2019-2030
Figure 14.13:   Denmark Telemedicine Market, $Billion, 2019-2030
Figure 14.14:   Rest-of-Europe Telemedicine Market, $Billion, 2019-2030
Figure 14.15:   Asia-Pacific Telemedicine Market, $Billion, 2019-2030
Figure 14.16:   India Telemedicine Market, $Billion, 2019-2030
Figure 14.17:   Japan Telemedicine Market, $Billion, 2019-2030
Figure 14.18:   Australia Telemedicine Market, $Billion, 2019-2030
Figure 14.19:   China Telemedicine Market, $Billion, 2019-2030
Figure 14.20:   Rest-of-Asia-Pacific Telemedicine Market, $Billion, 2019-2030
Figure 14.21:   Rest-of-the-World Telemedicine Market, $Billion, 2019-2030
Figure 14.22:   Brazil Telemedicine Market, $Billion, 2019-2030
Figure 14.23:   Mexico Telemedicine Market, $Billion, 2019-2030
Figure 14.24:   Saudi Arabia Telemedicine Market, $Billion, 2019-2030
Figure 14.25:   U.A.E Telemedicine Market, $Billion, 2019-2030
Figure 14.26:   Israel Telemedicine Market, $Billion, 2019-2030
Figure 14.27:   South Africa Telemedicine Market, $Billion, 2019-2030
Figure 14.28:   Rest-of-RoW Telemedicine Market, $Billion, 2019-2030
Figure 15.1:   Allscripts Healthcare Solutions, Inc.: Telemedicine Offerings
Figure 15.2:   Allscripts Healthcare Solutions, Inc.: Overall Financials, 2017-2019
Figure 15.3:   Allscripts Healthcare Solutions, Inc.: Revenue (by Segment), 2017-2019
Figure 15.4:   Allscripts Healthcare Solutions, Inc.: Revenue (by Region), 2017-2019
Figure 15.5:   Allscripts Healthcare Solutions, Inc.: SWOT Analysis
Figure 15.6:   AMD Global Telemedicine, Inc.: SWOT Analysis
Figure 15.7:   American Well: SWOT Analysis
Figure 15.8:   Cisco Systems, Inc.: Overall Financials, 2017-2019
Figure 15.9:   Cisco Systems, Inc.: Revenue (by Segment), 2017-2019
Figure 15.10:   Cisco Systems, Inc.: Revenue (by Region), 2017-2019
Figure 15.11:   Cisco Systems, Inc.: SWOT Analysis
Figure 15.12:   Crossover Health, Inc.: SWOT Analysis
Figure 15.13:   Doctor On Demand: SWOT Analysis
Figure 15.14:   GE: Overall Financials, 2017-2019
Figure 15.15:   GE.: Revenue (by Segment), 2017-2019
Figure 15.16:   GE.: Revenue (by Sub-Segment), 2017-2019
Figure 15.17:   GE.: Revenue (by Region), 2017-2019
Figure 15.18:   General Electric Company: SWOT Analysis
Figure 15.19:   iCliniq: SWOT Analysis
Figure 15.20:   Intel Corporation: Telemedicine Offerings
Figure 15.21:   Intel Corporation: Overall Financials, 2017-2019
Figure 15.22:   Intel Corporation: Revenue (by Segment), 2017-2019
Figure 15.23:   Intel Corporation: Revenue (by Region), 2017-2019
Figure 15.24:   Intel Corporation: SWOT Analysis
Figure 15.25:   IBM: Overall Financials, 2017-2019
Figure 15.26:   IBM: Revenue (by Segment), 2017-2019
Figure 15.27:   IBM: Revenue (by Region), 2017-2019
Figure 15.28:   International Business Machines (IBM): SWOT Analysis
Figure 15.29:   Koninklijke Philips N.V.: Overall Financials, 2016-2019
Figure 15.30:   Koninklijke Philips N.V.: Revenue (by Segment), 2016-2019
Figure 15.31:   Koninklijke Philips N.V.: Revenue (by Region), 2016-2019
Figure 15.32:   Koninklijke Philips N.V.: SWOT Analysis
Figure 15.33:   MDLIVE, Inc.: SWOT Analysis
Figure 15.34:   Poly: Overall Financials, 2017-2019
Figure 15.35:   Poly: Revenue (by Segment), 2017-2019
Figure 15.36:   Poly: Revenue (by Region), 2017-2019
Figure 15.37:   Poly: SWOT Analysis
Figure 15.38:   Teladoc Health: Overall Financials, 2016-2019
Figure 15.39:   Teladoc Health, Inc.: SWOT Analysis
Figure 15.40:   VirTrial Inc.: SWOT Analysis