Telehealth Market to Expand at a CAGR of 22.0% from 2024 to 2032; Rising Cost of Healthcare Services to Drive Industry Growth

The global telehealth market size stood at USD 142.64 billion in 2023. The market value is slated to rise from USD 161.64 billion in 2024 to USD 791.04 billion by 2032 at a CAGR of 22.0% during 2024-2032. Fortune Business Insights™ presents this information in its report, titled “Telehealth Market Size, Share & Industry Analysis, By Type (Products and Services), By Application (Telemedicine, Patient Monitoring, Continuous Medical Education, and Others), By Modality (Real-time (Synchronous), Store-and-forward (Asynchronous), and Remote Patient Monitoring), By End-user (Hospital Facilities, Homecare, and Others), and Regional Forecast, 2024-2032”.

Telehealth services use technologies such as messaging and video conferencing, enabling patients to consult healthcare providers without the need for a physical visit to a healthcare establishment.

An increase in investments focused on the development of new services by industry players is anticipated to boost industry expansion across various regions.

The COVID-19 pandemic period recorded an increased adoption of remote monitoring and teleconsultation services. This had a positive impact on industry growth during the period.

Doccla Acquired OpenTeleHealth to Expand Presence to 12 New Markets

In August 2023, Doccla announced its takeover of OpenTeleHealth (OTH), a medically certified cloud-based platform. The move was centered on strengthening its position in the Europe market.

Furthermore, the acquisition was focused on expanding its presence to 12 new markets.

Market Size to Rise Owing to Escalation in Healthcare Cost

Population aging and an increase in the incidence of chronic conditions across various regions have led to an escalation in the costs of healthcare. This creates the need for delivering high-quality healthcare services to patients, which has the potential to bring lucrative opportunities for industry players. These factors are expected to drive telehealth market growth over the coming years.

However, the lack of reliable digital infrastructure could hamper industry expansion to some extent.

Leading Companies Offer Various Products to Strengthen their Market Positions

Major industry participants are expanding their product portfolios to consolidate their positions in the market. Besides, they are undertaking a series of steps to increase their market share. MDLIVE and American Well are some of the leading players in the market.

Key Players Profiled in the Report

• American Well (U.S.)


• MDLIVE (U.S.)


• Teladoc Health Inc. (U.S.)


• Doctor on Demand Inc. (U.S.)


• Dictum Health Inc. (U.S.)


• Grand Rounds Inc. (U.S.)


• OpenTeleHealth (Denmark)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/telehealth-market-101065

Key Industry Development

• April 2023 – AristaMD introduced a new unified care transition platform. The move was focused on providing primary care practices and minimizing the waiting time for consultation.

Further Report Findings

• The North America telehealth market share led the global market in 2023 and is anticipated to grow driven by the launch of new digital healthcare services in the region. In addition, the region has recorded the presence of supportive health reimbursement policies.


• The Asia Pacific market is expected to exhibit significant growth driven by a high rural population and increasing technological advancements in the field of digital imaging.


• On the basis of type, the market is bifurcated into products and services. The services segment accounted for a major market share in 2023. This is due to a rise in the number of healthcare centers that offer these services.  


• Based on application, the market is fragmented into continuous medical education, patient monitoring, telemedicine, and others. The telemedicine segment stood at a dominant position in the global market due to the soaring adoption of telemedicine software.


• By end user, the market for telehealth is segregated into home care, healthcare facilities, and others. Of these, the healthcare facilities segment captured a leading market share in 2023. This was favored by the launch of government funded programs across various regions.

Table of Segmentation