Telehealth Market Size, Share & Trends Report

Telehealth Market Size, Share & Trends Analysis Report By Product Type (Hardware, Software, Services), By Delivery Mode (On-Premise, Web-based), By End-use, By Disease Area, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68039-909-7
  • Number of Report Pages: 130
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2022
  • Forecast Period: 2024 - 2030 
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the telehealth market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for telehealth market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of telehealth market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Telehealth Market Categorization:

The telehealth market was categorized into four segments, namely product type (Hardware, Software, Services), delivery mode (On-premises, Web-based, Cloud-based), end-use (Payers, Providers, Patients), disease area (Psychiatry, Substance Use, Radiology, Endocrinology, Dermatology, Gastroenterology, Neurological Medicine, ENT, Cardiology, Oncology, Dental, Gynecology, General Medicine), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The telehealth market was segmented into product type, delivery mode, end-use, disease area, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The telehealth market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Luxembourg; The Netherlands; Belgium; Italy; Spain; Russia; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; Chile; South Africa; Saudi Arabia; and UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Telehealth market companies & financials:

The telehealth market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Teladoc Health, Inc. - Teladoc Health, Inc. is a virtual healthcare and telemedicine company, providing innovative solutions through clinical expertise and state-of-the art technology for both physical and mental health, enabling healthcare professionals to make decisions for better clinical outcomes. Through their telehealth platform, the company provides medical assistance and accessible medical care to patients in remote areas. The virtual care platform of the company provides solutions for primary care and chronic disease management as well as mental health. Teladoc Health solutions provides an array of services for healthcare organizations like hospitals, health systems, employers, and individuals. The company has presence in over 175 countries, and it uses data-driven insights to deliver better solutions to healthcare professionals.

  • American Well - American Well is a major telehealth solutions company providing accessible, affordable, and quality care to individuals through its innovative platform and services. More than 2,000 hospitals and 71,000 healthcare providers have partnered with American Well to deliver better clinical outcomes. The company develops innovative solutions for individuals, insurers, and healthcare providers to create access to better healthcare solutions, high-quality virtual care assistance, etc. The platforms cater to behavioral health, chronic disease management, urgent care, and overall healthcare & wellbeing.

  • Doctor On Demand, Inc. - Doctor On Demand, Inc. is a privately held telehealth provider of 24/7 virtual healthcare solutions to patients in remote locations. The solutions provide guidance, advocacy, and access to personalized care through virtual & in-person medical assistance for primary care, urgent care, specialty care, chronic disease care, preventive health, and behavioral health.

  • MDLive - MDLive is a leading telehealth and on-demand healthcare provider, with services that cater to patients, hospitals, healthcare providers, employers, etc. The virtual care cloud-based platform of the company allows easy collaboration between providers and patients, bridging the gap in care delivery. It helps providers identify opportunities to augment their services. The platforms provide high quality medical and behavioral healthcare to patients, remotely. These solutions are widely used by patients, payers, providers, employers, accountable care organizations, and physician practice groups. Payers and providers use MDLive solutions to collect and share realtime data from patient health records, laboratory tests, & in-home biometric devices. The telehealth and virtual care services can be availed at a subscription fee of USD 10 to USD 300 per month, covering urgent care, primary care, specialty care, and behavioral health.

  • Cerner Corporation - Cerner Corporation is a healthcare information technology solution company that offers tech-enabled solutions to optimize clinical, operational, and financial outcomes of organizations. The company offers end-to-end solutions and services to its clients worldwide. It also offers Electronic Health Records (EHRs), billing, EDI services, and practice management. The company offers a wide range of services, including remote hosting, healthcare data analysis, operational management, clinical process optimization, employee wellness programs, transaction processing, implementation, and training. The solutions aim to aid clinicians in making informed decisions while managing patient health. The company also provides revenue cycle management services for clients, automating and streamlining their operations. It operates in more than 25 countries worldwide.

  • GlobalMed - GlobalMed is a fully integrated telemedicine company offering advanced virtual care programs by manufacturing, designing, and implementing software as well as hardware solutions to ease the process of patient care for both patients & care providers. The company provides facilities for providers, such as capacity management, cost reduction, expansion of patient care etc., all through one platform. With presence in over 100 countries, GlobalMed has collaborated with various federal agencies in the U.S., such as Department of Veterans Affairs, Defense Health Agency, and the White House, for providing telehealth services.

  • GE Healthcare - GE Healthcare, a subsidiary of General Electric Company (GE), provides medical technologies and services aimed at delivering advanced patient care across countries. The company focuses on technologies and services such as medical diagnostics, drug discovery, medical imaging & information technologies, patient monitoring systems, performance solution services, and biopharmaceutical technologies. GE Healthcare has a presence in around 100 countries; the company’s IT solutions offer integrated care solutions that enable better clinical and financial outcomes.

  • Koninklijke Philips N.V. - Koninklijke Philips N.V. operates in three business areas: diagnosis & treatment, connected care, and personal health. The company is now increasingly focusing on making strategic industrial developments to hold its strong position in the global telehealth market. With the connected care business segment, Philips develops telehealth platforms to connect caregivers and patients across care settings. The company aims at delivering operational, clinical, and therapeutic solutions to help customers from remote areas with better health outcomes—lower cost of care along with improved patient experience. Koninklijke Philips N.V has sales and service operations in over 100 countries worldwide.

  • Medtronic - Medtronic is one of the world’s largest medical technology and healthcare solutions companies that manufactures medical devices. The company applies biomedical engineering in research, designing, and manufacturing & sales of products for alleviating pain, restoring health, and extending life. It supports patients, clinicians, physicians, and hospitals in over 160 countries and more than 370 locations. The company operates through four business segments—cardiovascular group, neuroscience, medical surgical, and diabetes. It offers remote patient monitoring and telehealth software to enable efficient care and improves hospital operational efficiency. It has more than 49,000 patents, operates from 260 locations.

  • Siemens Healthcare GmbH - Siemens Healthcare GmbH is a part of Siemens AG and was renamed Siemens Healthineers in May 2015. The company provides various healthcare solutions in diagnostics, imaging & therapy systems, clinical products, audiology solutions, and healthcare IT solutions. Its product portfolio has products for both in vitro and in vivo diagnostic solutions, driving crucial clinical solutions. The company operates in more than 70 countries and products and solutions offered are customized to meet local market demands.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Telehealth Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Telehealth Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

What questions do you have? Get quick response from our industry experts. Request a Free Consultation



This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.



We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member


ISO Certified

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon