https://www.fortunebusinessinsights.com/industry-reports/telemedicine-market-101067
Telemedicine Market Key Dynamics, Industry
Growth, and Global Forecast 2032
The telemedicine market is rapidly growing as it allows patients to access healthcare services remotely
through digital platforms, video consultations, and mobile applications. The market is driven by the
increasing need for accessible and cost-effective healthcare, the rising prevalence of chronic diseases, and
the growing adoption of digital technologies. North America leads the market due to strong infrastructure
and supportive policies, while Asia Pacific is emerging as the fastest-growing region with expanding internet
and smartphone use. Although challenges such as regulatory issues, data privacy, and unequal access in
rural areas remain, advancements in telehealth technologies and increasing acceptance among patients and
providers are expected to continue fueling the market’s expansion globally.
According to Fortune Business Insights, the global telemedicine market size was valued at USD 104.64
billion in 2024 and is projected to grow from USD 111.99 billion in 2025 to USD 334.80 billion by
2032, exhibiting a CAGR of 16.93% during the forecast period. North America dominated the
telemedicine market with a market share of 48.01% in 2024.
Top Companies in the Market
American Well (U.S.)
Teladoc Health, Inc. (U.S.)
Included Health, Inc. (Doctor On Demand) (U.S.)
The Cigna Group (MDLIVE, Inc.) (U.S.)
GlobalMed Holdings, LLC (U.S.)
MeMD (Fabric Labs, Inc.) (U.S.)
Encounter Telehealth (U.S.)
PING AN HEALTHCARE AND TECHNOLOGY COMPANY LIMITED (China)
Push Dr (Square Health Limited) (U.K.)
Key Industry Development
In a significant move in January 2025, Teladoc Health, Inc. partnered with Amazon by integrating access to
chronic condition programs—including diabetes, hypertension, pre-diabetes, and weight management—
through the Amazon Health Benefits Connector. This strategic collaboration enhances service accessibility
for existing customers.
Market Drivers & Restraints
Drivers
Demographic shifts: The global population aged 60+ is projected to exceed 2.1 billion by 2050—
more than double the 1 billion recorded in 2020—fueling demand for remote healthcare delivery.
Chronic disease prevalence: Non-communicable diseases—cardiovascular, cancer, respiratory
diseases, diabetes—account for over 74% of global deaths, increasing requirement for telemedicine
for disease management.
Restraints
Infrastructure gaps: In middle and low-income countries, limited Internet penetration and lack of
high-speed broadband (only 4.4 and 0.5 subscriptions per 100 persons in lower-middle- and low-
income countries, versus over 30 in high-income ones) impede telemedicine adoption.
Data security concerns: Growing incidents of healthcare data breaches—especially in the U.S.,
where in 2024 there were 729 breaches affecting over 185 million individuals, and at least 66
breaches occurred in January 2025 alone—undermine trust in digital platforms.
Market Report Coverage
The Fortune Business Insights report offers a comprehensive overview of the telemedicine industry covering
market dynamics, segmentation by type, modality, application, end-user, and region, as well as key trends,
challenges, and competitive developments. It also examines regulatory and reimbursement landscapes,
COVID-19 impact, and the rollout of digital health technologies globally.
Market Competitive Landscape
The global telemedicine market exhibits a fragmented competitive structure, with both large and emerging
players offering a mix of products and services. Teladoc Health, Inc. held a leading position in 2024,
supported by its broad customer base, network of general practitioners and specialists, and strategic
alliances. American Well, Ping An Healthcare and Technology, and GlobalMed are also notable market
participants.
https://www.fortunebusinessinsights.com/industry-reports/telemedicine-market-101067
Market Segmentation
By Type
Services: The services segment dominated in 2024 and is forecasted to grow at a CAGR of 17.32%
through the forecast period, fueled by demand for teleconsultations in chronic disease management,
mental health, primary care, etc.
Products: Expected to reach about 38% market share in 2025. Growth is supported by rising
demand for remote patient monitoring devices and cameras, exemplified by the July 2024 launch of
mCareWatch 241 (a smartwatch with emergency assistance, heart-rate monitoring, fall detection,
and more).
By Modality
Store-and-forward (Asynchronous): This modality led the market in 2024 and is projected to
hold ~49.3% share in 2025, thanks to flexibility in transmitting patient data like images or history
to specialists asynchronously. In January 2024, 98point6 Technologies introduced an asynchronous
module to its platform to support this growth.
Real-time (Synchronous): Holds a significant share and is expected to grow at a CAGR of
17.23%, driven by demand for live consultations and supportive government measures. Aramark's
January 2024 cloud-based program connecting clinical dietitians to hospital patients is one such
example
Others: This category, including mobile health and remote monitoring, is set for moderate growth
due to provider shortages in rural areas.
By Application
Teleradiology: Dominated the market at 36.4% share in 2024; growth is due to rising chronic
disease prevalence and a shortage of radiologists in rural areas. Yellowcross Healthcare Commerce’s
February 2024 launch of a teleradiology management service is one such initiative.
Telepsychiatry: Rapid growth expected amid rising mental health cases and stigma around in-
person therapy. American Well's launch of a Comprehensive Behavioral Health Program in January
2023 highlights this trend.
Telepathology: Holds the second-largest share, driven by demand for interpretation of tissue and
cell imagery across distances.
Telecardiology & Teledermatology: Telecardiology grows via remote cardiac monitoring and
mobile apps; teledermatology benefits from more dermatology visits and demand for
dermatoscopes.
Others: Telemedicine extension into urology, neurology, chronic disease care is also propelling
growth.
By End-User
Healthcare Facilities: Held dominant market share in 2024 and expected to command ~56% in
2025 thanks to government telehealth initiatives targeting hospitals and significant cost savings.
LTR Pharma’s November 2024 collaboration with Restorative Sexual Health Clinic (RSHC) to launch
a men’s health tele-platform exemplifies this trend.
Homecare: Projected fastest CAGR (17.76%), driven by cost savings, geriatric demand, and
adoption of telemonitoring to reduce hospital visits.
Others: This includes other settings leveraging telemedicine but is less dominant.
Explore the full research report with detailed insights and
TOC:https://www.fortunebusinessinsights.com/industry-reports/telemedicine-market-101067
Market Regional Insights
North America: Valued at USD 50.24 billion in 2024 (up from USD 46.61 billion in 2023), driven by
advanced healthcare infrastructure and supportive policies. Teladoc, MDLive, and others are key
regional players.
United States: Projected U.S. market size is USD 49.18 billion in 2025, backed by technology
adoption and reimbursement frameworks. In February 2025, Teladoc acquired Catapult Health to
enhance at-home diagnostics and clinical support.
Europe: Expected market size of USD 28.58 billion in 2025 with a 16.11% CAGR. The U.K.,
Germany, and France are key markets with values at USD 4.97 billion (U.K.), USD 6.85 billion
(Germany), USD 5.48 billion (France). Doctolib’s acquisition of Aaron.ai in May 2024 illustrates
growth through strategic M&A.
Conclusion
The telemedicine market stands on the threshold of exponential growth, driven by demographic demand,
chronic disease management needs, technological innovation, and expanding infrastructure. Key players—
such as Teladoc, American Well, GlobalMed, Ping An Healthcare, and more—are pioneering solutions that
fuse AI, remote diagnostics, and virtual care delivery. As regions worldwide bolster capabilities, navigate
regulatory pathways, and invest in digital health, telemedicine is set to redefine patient access and
healthcare delivery on a global scale.
About Us:
Fortune Business Insights provides expert corporate analysis and accurate data, enabling businesses of all
sizes to make timely decisions. We offer customized solutions tailored to each client’s needs, helping them
address unique challenges. Our goal is to empower clients with holistic market intelligence and offer
granular insights into the market they operate in.
At Fortune Business Insights, we aim to highlight growth opportunities for our clients, offering insights and
recommendations that help them navigate technological and market changes. Our consulting services are
designed to help companies uncover hidden opportunities and address competitive challenges.
Contact us:
Fortune Business Insights™ Pvt.
Phone: USA: +1 833 909 2966 (Toll-Free),
United Kingdom: +44 808 502 0280 (Toll-Free),
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com