North America Telemedicine Market Size (2024 - 2029)

The North America telemedicine market is projected to experience significant growth, driven by the increasing adoption of telehealth services, which gained momentum during the COVID-19 pandemic due to restrictions on in-person visits. The market's expansion is further supported by technological advancements enabling remote patient monitoring and the rising prevalence of chronic diseases, which heighten the demand for telemedicine solutions. Government initiatives aimed at enhancing access to telemedicine services and the active participation of companies in the sector are also contributing to market growth. However, challenges such as legal and reimbursement issues, along with the high costs associated with advanced healthcare technologies, may hinder the market's progress.

Market Size of North America Telemedicine Industry

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North America Telemedicine Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 67.71 Billion
Market Size (2029) USD 136.44 Billion
CAGR (2024 - 2029) 15.04 %

Major Players

North America Telemedicine Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Telemedicine Market Analysis

The North America Telemedicine Market size is estimated at USD 67.71 billion in 2024, and is expected to reach USD 136.44 billion by 2029, growing at a CAGR of 15.04% during the forecast period (2024-2029).

Telehealth has emerged as an essential component of healthcare during the COVID-19 pandemic. According to the research article published in 2020 in the JCO Global Oncology-An American Society of Clinical Oncology Journal, during the SARS-CoV-2 pandemic, physical distancing was put in place to minimize the spread of the coronavirus disease. This resulted in the adoption of telemedicine for most outpatient oncology appointments. Though telemedicine services were integrated into most healthcare systems even before the onset of the pandemic, services began to be extensively used only during the COVID-19 crisis, which is majorly attributed to a lack of in-person visits and limitations and restrictions on travel, which encouraged clinicians to adapt telemedicine-based consultations even more during the pandemic. Thus, the COVID-19 pandemic is expected to have a significant positive impact on the growth of the telemedicine market globally.

Certain factors propelling the market growth are technological innovations, enabling remote patient monitoring, and the rising prevalence of chronic diseases.

The increasing burden of chronic diseases is the key factor driving market growth. For instance, according to 2022 statistics published by American Heart Association, the prevalence rate of heart failure in the United States is 6 million, which is 1.8% of the total population, in 2021. Additionally, according to 2022 statistics published by the International Diabetes Federation, in the 10th edition of 2021, 2,974.0 thousand people were living with diabetes in 2021 in Canada. In addition, as per the same source, this number is projected to reach 3,288.2 thousand by 2030 and 3,468.5 thousand by 2045. Therefore, high blood sugar caused by diabetes can damage the nerves that control the heart and blood vessels, leading to a variety of cardiovascular diseases like coronary artery disease and stroke.

Also, smoking, and obesity in the Mexican population are found to be the most prevalent heart disease risk factors which are also contributing to the growth of the studied market over the forecast period. For instance, according to 2022 statistics published by World Obesity Federation, it has been observed that 31.5% of men and 40.2% of women are living with obesity in Mexico in 2020. Thus, the rising prevalence of the chronic disease among the population is expected to increase the demand for telemedicine which in turn is anticipated to propel market growth.

Furthermore, the rising government initiatives in providing easy access to telemedicine and its services in the region is also contributing to the market growth. For instance, in January 2022, the American Telemedicine Association (ATA) launched ATA Action, a new affiliated trade organization focused on ensuring individuals have permanent access to telehealth services across the care continuum. Also, in October 2020, The American Telemedicine Association (ATA) partnered with the Organization for the Review of Care and Health Apps (ORCHA) to create a review process for the United States to enable healthcare providers, insurers, and employers to give patients access to safe and effective health apps.

Moreover, the increasing company activities and increasing adoption of telemedicine in the region is also expected to fuel the market growth over the forecast period. For instance, inNovember 2020, Morneau Shepell launched a unified telemedicine solution, that includes mental health and wellbeing services, in the United States. Also, in May 2020, Hifinite launched hiCare Consult, A Full-Stack Telemedicine Solution for Providers in the United States.

However, the legal and reimbursement issues as well as advanced technology resulting in expensive healthcare services are likely to impede the market growth over the forecast period.

North America Telemedicine Industry Segmentation

As per the scope of the report, telemedicine allows healthcare professionals to evaluate, diagnose, and treat patients in remote locations using telecommunication technology. It provides an opportunity for patients, especially in remote locations, to access medical expertise quickly and efficiently. Though the idea of telemedicine was conceived a long time ago, its importance has increased significantly over the past few years. Reducing healthcare costs and providing better ways of communication between doctors and patients are the main objectives behind the application of telemedicine in the healthcare sector. The North America Telemedicine Market is segmented by Type (Telehospitals, Telehomes, mHealth (Mobile Health)), Component (Products and services), Mode of Delivery (On-premise Delivery and Cloud-based Delivery), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Type
Telehospitals
Telehomes
mHealth (Mobile Health)
By Component
Products
Hardware
Software
Others
Services
Telepathology
Telecardiology
Teleradiology
Teledermatology
Telepsychiatry
Others
By Mode of Delivery
On-premise Delivery
Cloud-based Delivery
Geography
United States
Canada
Mexico
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North America Telemedicine Market Size Summary

The North America telemedicine market is poised for substantial growth, driven by the increasing integration of telehealth services into healthcare systems, a trend accelerated by the COVID-19 pandemic. The pandemic necessitated a shift towards remote consultations due to physical distancing measures, which significantly boosted the adoption of telemedicine. This shift is supported by technological advancements that facilitate remote patient monitoring and the rising prevalence of chronic diseases, such as cardiovascular conditions and diabetes, which require regular medical attention. Government initiatives and partnerships, like those from the American Telemedicine Association, further enhance access to telehealth services, contributing to market expansion. The market is also witnessing a surge in mobile health applications and wearable technologies, which are becoming integral to managing health remotely, particularly among the aging population prone to chronic illnesses.

The United States is expected to lead the North American telemedicine market, fueled by high healthcare expenditure and technological innovations. The growing incidence of chronic diseases necessitates continuous monitoring and consultation, driving the demand for telemedicine solutions. Companies are actively developing mobile health systems to reduce hospital visits, with significant investments in telehealth startups and services. Despite challenges such as legal and reimbursement issues, the market is set to grow, supported by increased healthcare spending and the development of advanced telemedicine solutions. Key players are expanding their presence through strategic acquisitions and product innovations, ensuring a competitive landscape that fosters further market growth.

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North America Telemedicine Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Technological Innovations

      2. 1.2.2 Enabling Remote Patient Monitoring

      3. 1.2.3 Rising Prevalence of Chronic Diseases

    3. 1.3 Market Restraints

      1. 1.3.1 Legal and Reimbursement Issues

      2. 1.3.2 Advanced Technology Resulting in Expensive Healthcare Services

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Type

      1. 2.1.1 Telehospitals

      2. 2.1.2 Telehomes

      3. 2.1.3 mHealth (Mobile Health)

    2. 2.2 By Component

      1. 2.2.1 Products

        1. 2.2.1.1 Hardware

        2. 2.2.1.2 Software

        3. 2.2.1.3 Others

      2. 2.2.2 Services

        1. 2.2.2.1 Telepathology

        2. 2.2.2.2 Telecardiology

        3. 2.2.2.3 Teleradiology

        4. 2.2.2.4 Teledermatology

        5. 2.2.2.5 Telepsychiatry

        6. 2.2.2.6 Others

    3. 2.3 By Mode of Delivery

      1. 2.3.1 On-premise Delivery

      2. 2.3.2 Cloud-based Delivery

    4. 2.4 Geography

      1. 2.4.1 United States

      2. 2.4.2 Canada

      3. 2.4.3 Mexico

North America Telemedicine Market Size FAQs

The North America Telemedicine Market size is expected to reach USD 67.71 billion in 2024 and grow at a CAGR of 15.04% to reach USD 136.44 billion by 2029.

In 2024, the North America Telemedicine Market size is expected to reach USD 67.71 billion.

North America Telemedicine Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)