Global telemedicine market size 2019 vs 2026

The telemedicine market has grown significantly in recent years. As of 2019, the telemedicine global market was valued at some 45 billion U.S. dollars. The market is expected to grow significantly by 2026 and is expected to be valued at more than 175 billion U.S. dollars at that time. Many factors have contributed to the growth of the market including increased traditional health care costs, funding for telemedicine and an increase in digital health users.

What is telemedicine?

Telemedicine is the use of information and communication technologies to improve patient access to care and medical information in order to improve patient health outcomes. In 2013, there were approximately 350 thousand telemedicine patients globally. The number of telemedicine patients is expected to grow beyond twenty times that amount. As an example of telemedicine in practice, the most frequently utilized telemedicine in the U.S. has been remote patient monitoring.

Global telehealth market

Generally spoken, telemedicine is an older term, more focused on the clinical application, while telehealth includes a broader and consumer-facing approach. The global telehealth market is expected to grow significantly between 2015 and 2020. North America has the largest telemedicine market globally. The telemedicine market in the U.S. is expected to grow to an estimated 35 billion dollars by 2025. This trend indicates a significant increase from previous years. The telehealth market includes a variety of products and applications. The largest proportion of the telemedicine market in the U.S. is attributable to hardware.

Global telemedicine market size in 2019 and a forecast for 2026

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Source

Release date

April 2020

Region

Worldwide

Survey time period

as of April 2020

Supplementary notes

* Forecast.

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Statistics on "Digital health"

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