Share on

United States Telemedicine Market Research Report - Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast | 2023 to 2028

Published: March, 2023
ID: 8728
Pages: 100
Formats: report pdf report excel report power bi report ppt

Telemedicine Market Size in the United States (2023 to 2028):

The U.S. Telemedicine Market size is predicted to grow at a 14% CAGR from 2023 to 2028 and be worth USD 21.97 billion by 2028. At a global level, the United States is the dominating country in the market. Teledoc Health, Doctor of Demand, and MD LIVE are the top 3 companies in the United States Telemedicine Market.

The Journal of the American Medical Association stated the principal aim of telemedicine is to offer better healthcare and specialty services in the rural places of the United States. As a result, the telemedicine visits in the United States increased at a CAGR of 261% from 2015 to 2017, which was remarkable and has given colossal scope and encouragement to many companies to operate.

In the U.S., telecommunications has been an enjoyable part of the medical sector as it evaluates diagnosis and treatment procedures for the patients without traveling to the hospitals. In addition, it provides care and support for the patients by monitoring frequently and prescribing drugs. The new telemedicine services include wireless communications systems, which improve the safety of the patients and practitioners.

COVID-19 Impact on the U.S. Telemedicine Market:

Virtual healthcare interactions are growing beyond expectations due to COVID-19. The number of virtual care cases is to reach 200 million by the end of 2020 in the U.S. New York, and New Jersey are severely affected by COVID-19, and the doctors are offering virtual care appointments for the patients. These are likely to seek more technicians to provide quality services for the patients online.

The U.S. Food and Drug Administration has instructed that veterinarians can use telemedicine to combat coronavirus spread. However, it is also essential to take care of the animals in the pandemic situation, so the FDA has recognized this role and taken this initial step forward.

The Health and Human Services (HHS) has changed its policies by allowing patients to use video platforms for medicare. In addition, the government has decided to provide new flexibilities for both patients and doctors during these conditions.   As public health professionals recommend social distancing to contain COVID-19, telehealth services play a vital role in lowering the spread of this disease. As a result, many health insurance issuers take significant steps to promote telehealth services without cost-sharing. In addition, HHS released a notification for health providers to strictly maintain the patient's privacy.  These regulations are to leverage the demand for telehealth in many countries.

MARKET DRIVERS:

Growing spending on healthcare is also one of the factors leveraging the market's demand. However, increasing disposable income in urban areas and raising awareness of the new applications are outshining the market's need. In addition, the rising adoption of the latest technologies and the launch of innovative techniques in telemedicine drive the market in this region.

Increasing the utilization of smartphones and laptops with awareness of the internet of things is a crucial driving factor for the U.S. telemedicine market to grow. In addition, the rise in the incidences of cancer diseases is adding fuel to the market's demand.

The rise in support from the I.T. sector for the medical industry significantly influences the market's demand. In addition, increasing investments in healthcare centers will surge growth opportunities for the market.

MAJOR CHALLENGES:

The lack of skilled persons in monitoring the condition of the patients through systems has a hurdle to the market growth. Rapid changes in the software are also hindering the need of the market. Increasing concern for privacy and safety among people is slowly hampering the development of the telemedicine market in the U.S. 

KEY MARKET PARTICIPANTS:

AMD Global Telemedicine, Inc., American Well, Cisco Systems, Inc., Cerner Corporation, Doctor On Demand, MDLIVE Inc., Honeywell Life Care Solutions, Intouch Health, Medtronic PLC, McKesson Corporation, Siemens Healthineers, Philips Healthcare, Sherpaa Health, SnapMD, Inc. Iris Telehealth, and Teladoc, Inc. are currently dominating the telemedicine market in the United States

Medtronic PLC, one of the leading companies in this market, introduced a division called Medtronic Care Management Services in favor of the United States Department of Veteran Affairs with home telehealth devices and services in 2022.

SEGMENTS COVERED IN THIS REPORT:

By Type:

  • Technology
    • Hardware
    • Software
    • Telecommunications
  • Service
    • Remote Patient Monitoring
    • Store-and-Forward
    • Real-Time Interactive

By Application:

  • Tele-Cardiology
  • Tele-Radiology
  • Tele-Pathology
  • Tele-Dermatology
  • Tele-Neurology
  • Emergency Care
  • Home Health
  • Others

By Delivery Mode:

  • Web-based
  • Cloud-based
  • Others

By End-User:

  • Tele-Hospitals
  • Tele-Homes

Please wait. . . . Your request is being processed

FAQ's

What is the expected growth rate of the U.S. telemedicine market for 2022 to 2027?

The U.S. telemedicine market is estimated to grow at a CAGR of 14% from 2022 to 2027.

What is the projected value of the U.S. telemedicine market by 2027?

The telemedicine market size in the United States is forecasted to be worth USD 19.24 billion by 2027.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1200

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample