PUBLISHER: Polaris Market Research | PRODUCT CODE: 1505014
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1505014
U.S. Telemedicine Market Share, Size, Trends, Industry Analysis Report By Component; By Application; Mode of Delivery By End-User; By Region; Segment Forecast, 2024 - 2032
The global U.S. Telemedicine Market size is expected to reach USD 248.29 Billion by 2032 according to a new study by Polaris Market Research. The report "U.S. Telemedicine Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software & Services), By Application (Teleradiology, Telepsychiatry, Telestroke, Tele-ICU, Teledermatology, Teleconsultation); Mode of Delivery (Mobile Health Apps, Virtual, Telehealth Portals & kiosks), By End User (Providers, Payers, Patients); Segments & Forecast, 2020 - 2027" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is projected to witness a significant growth over the forecast period. In the recent past telemedicine had been witnessing steady growth over the last few years due to a variety of reasons. The sudden advent of healthcare devices, rapid investments in the IoHT, and the recent corona pandemic is all set to propel the market in a direction of high growth. Prior the pandemic, telemedicine was referred to as a suitable service but now is being referred to as absolute necessity considering the advantages that the technique has to offer especially in the times of the pandemic and this factor is propelling rapid growth of the U.S. telemedicine industry.
Companies in the U.S. telemedicine industry have streamlined their overall provider onboarding processes in order to gain expansion of their physician capacity. One such company to do so is TelaDoc. The move was aimed to add a significant number of physicians and doctors onboard. This was done in keeping in mind the perception that more the number of doctors better for the patient to access healthcare for treating multiple conditions on a single platform. As number of doctors join on the overall telemedicine platform, it will prompt more and more citizens of the U.S. to opt for the same.
The accelerated approvals by the U.S. regulatory agencies is benefitting foreign market participants as well. For example, DreamTech an electronic component company based in South Korea, announced in July 2020, that it has received approval for using its electrocardiogram (ECG) patch Biosensor 1A for usage in telemedicine purposes. The product was developed in partnership with the U.S. based LifeSignals Inc. The sensor is aimed at addressing the understaffing issues caused due to the corona pandemic in hospitals across the nation.
Novel product development is a key industry scenario in the U.S. telemedicine industry. In July 2020, MolecuLight Inc., announced the launch of i:X Telemedicine Solution, that enables to perform imaging for the accurate determination of wounds that contain bacteria. The solution essentially connects the patient and the wound care specialist and provides the latter with accurate, objective information on the status of the bacteria in the wound thus facilitating informed decision-making pertaining to diagnosis. Such trends are benefitting the market growth.
Telemedicine has revolutionized the overall healthcare industry in the U.S. The system essential allows immediate access to healthcare providers to patients by using various devices. While the adoption in the U.S. was growing steadily in the past few years, the recent corona pandemic has certainly accelerated the adoption rate. The rising need to maintain social distancing has led to a rise in need for virtual connection between the patients and the doctors thus leading to market growth.
In response to the rising number of COVID 19 cases, the U.S. agency, CDC has urged and appealed to healthcare providers across the country to actively engage with patients in a virtual manner. In lieu of this appeal, several federal health agencies took concrete steps for facilitation of telemedicine services through their establishments. The U.S. government also expanded the services to more than 62 million beneficiaries in the country.
Some of the major market participants include Koninklijke Philips, Medtronic, GE Healthcare, Cerner Corporation, Siemens Healthineers Ag, Cisco Systems, Asahi Kasei Corporation, Iron Bow Technologies, American Well, Teladoc Health, Medvivo Group, AMC Health, Chiron Health, Zipnosis, VSEE, IMEDIPLUS, MEDWEB, U.S.MED. among others.
Polaris Market Research has segmented the U.S. Telemedicine Market report on the basis of component, application, mode of delivery, and end-user
Telemedicine Component Outlook (Revenue, USD Billion, 2015 - 2027)
- Hardware
- Telemedicine Carts
- Kiosks
- Digital Cameras
- Telemedicine Kits
- Mobile Medical Devices
- Other Devices
- Software & Services
- Remote Patient Monitoring Software & Services
- Real-Time Interaction Software & Services
- Store-And-Forward Software & Services
- Remote Order Entry Service
- Others
Telemedicine Application Outlook (Revenue, USD Billion, 2015 - 2027)
- Teleradiology
- Telepsychiatry
- Telestroke
- Tele-ICU
- Teledermatology
- Teleconsultation
- Other Applications
Telemedicine Mode of Delivery Outlook (Revenue, USD Billion, 2015 - 2027)
- Mobile Health Apps
- Virtual
- Telehealth Portals & kiosks
- Others
Telemedicine Diagnostics End User Outlook (Revenue, USD Billion, 2015 - 2027)
- Providers
- Payers
- Patients
Table of Contents
1. Chapter 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Chapter 2. Executive Summary
- 2.1. Market Highlights
3. Chapter 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Chapter 4. U.S. Telemedicine Market Insights
- 4.1. U.S. Telemedicine - Industry snapshot
- 4.2. U.S. Telemedicine Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Reduction in the overall cost of care
- 4.2.1.2. Favorable Regulatory Scenario: -
- 4.2.1.3. Improvement in the overall patient engagement
- 4.2.1.4. Service consolidation leading to increase in accessibility
- 4.2.1.5. Scaling and Optimization of Telehealth program
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Barriers to widespread telehealth adoption in the U.S.
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (High)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PEST Analysis
- 4.5. U.S. Telemedicine Market Industry trends
- 4.6. COVID-19 Impact Analysis
- 4.6.1. Current Scenario and Future Prospects
5. Chapter 5. U.S. Telemedicine Market Assessment by Component (USD Billion, 2015 - 2027)
- 5.1. Introduction
- 5.2. Hardware
- 5.3. Hardware Component Sub Segments
- 5.3.1. Telemedicine Carts
- 5.3.2. Kiosks
- 5.3.3. Digital Cameras
- 5.3.4. Telemedicine Kits
- 5.3.5. Mobile Medical Devices
- 5.3.6. Other Hardware Component
- 5.4. Software & Services
- 5.5. Software & Services Component Sub Segments
- 5.5.1. Remote Patient Monitoring Software & Services
- 5.5.2. Real-Time Interaction Software & Services
- 5.5.3. Store-And-Forward Software & Services
- 5.5.4. Remote Order Entry Service
- 5.5.5. Other Software & Services
6. Chapter 6. U.S. Telemedicine Market Assessment by Application (USD Billion, 2015 - 2027)
- 6.1. Introduction
- 6.2. Teleradiology
- 6.3. Telepsychiatry
- 6.4. Telestroke
- 6.5. Tele-ICU
- 6.6. Teledermatology
- 6.7. Teleconsultation
- 6.8. Other Applications
7. Chapter 7. U.S. Telemedicine Market Assessment by Mode of Delivery (USD Billion, 2015 - 2027)
- 7.1. Introduction
- 7.2. Mobile Health Apps
- 7.3. Virtual
- 7.4. Telehealth Portals & kiosks
- 7.5. Other Modes of Delivery
8. Chapter 8. U.S. Telemedicine Market Assessment by End-User (USD Billion, 2015 - 2027)
- 8.1. Introduction
- 8.2. Providers
- 8.3. Payers
- 8.4. Patients
9. Chapter 9. Competitive Landscape
- 9.1. Product Launch and Acquisition Analysis
- 9.1.1. Product Launch
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Chapter 10. Company Profiles
- 10.1. Allscripts Healthcare Solutions
- 10.1.1. Business Overview
- 10.1.2. Financial Snapshot
- 10.1.3. Products and Services
- 10.1.4. Recent Developments
- 10.2. AMD Global Telemedicine
- 10.2.1. Business Overview
- 10.2.2. Products and Services
- 10.2.3. Recent Developments
- 10.3. BioTelemetry
- 10.3.1. Business Overview
- 10.3.2. Financial Snapshot
- 10.3.3. Products and Services
- 10.3.4. Recent Developments
- 10.4. Cerner Corporation
- 10.4.1. Business Overview
- 10.4.2. Financial Snapshot
- 10.4.3. Products and Services
- 10.4.4. Recent Developments
- 10.5. Cisco Systems
- 10.5.1. Business Overview
- 10.5.2. Financial Snapshot
- 10.5.3. Products and Services
- 10.5.4. Recent Developments
- 10.6. Honeywell International Inc
- 10.6.1. Business Overview
- 10.6.2. Financial Snapshot
- 10.6.3. Products and Services
- 10.6.4. Recent Developments
- 10.7. InTouch Technologies
- 10.7.1. Business Overview
- 10.7.2. Financial Snapshot
- 10.7.3. Products and Services
- 10.7.4. Recent Developments
- 10.8. McKesson Corporation
- 10.8.1. Business Overview
- 10.8.2. Financial Snapshot
- 10.8.3. Products and Services
- 10.9. OBS Medical
- 10.9.1. Business Overview
- 10.9.2. Financial Snapshot
- 10.9.3. Products and Services
- 10.9.4. Recent Developments
- 10.10. GE Healthcare
- 10.10.1. Business Overview
- 10.10.2. Financial Snapshot
- 10.10.3. Products and Services
- 10.10.4. Recent Developments
- 10.11. Iron Bow Technologies
- 10.11.1. Business Overview
- 10.11.2. Financial Snapshot
- 10.11.3. Products and Services
- 10.11.4. Recent Developments
- 10.12. American Well Corporation
- 10.12.1. Business Overview
- 10.12.2. Financial Snapshot
- 10.12.3. Products and Services
- 10.12.4. Recent Developments
- 10.13. Teladoc Health
- 10.13.1. Business Overview
- 10.13.2. Financial Snapshot
- 10.13.3. Products and Services
- 10.13.4. Recent Developments
- 10.14. Medvivo Group
- 10.14.1. Business Overview
- 10.14.2. Financial Snapshot
- 10.14.3. Products and Services
- 10.14.4. Recent Developments
- 10.15. AMC Health
- 10.15.1. Business Overview
- 10.15.2. Financial Snapshot
- 10.15.3. Products and Services
- 10.15.4. Recent Developments
- 10.16. Medtronic PLC
- 10.16.1. Business Overview
- 10.16.2. Financial Snapshot
- 10.16.3. Products and Services
- 10.16.4. Recent Developments
- 10.17. Siemens Healthcare
- 10.17.1. Business Overview
- 10.17.2. Financial Snapshot
- 10.17.3. Products and Services
- 10.17.4. Recent Developments
- 10.18. Asahi Kasei
- 10.18.1. Company Overview
- 10.18.2. Financial Performance
- 10.18.3. Product Benchmarking
- 10.19. Koninklijke DSM N.V.
- 10.19.1. Business Overview
- 10.19.2. Financial Snapshot
- 10.19.3. Products and Services
List of Tables
- Table 1 U.S. Telemedicine Market, by Hardware Component, 2015-2027 (USD Billion)
- Table 2 U.S. Telemedicine Market, by Telemedicine Carts, 2015-2027 (USD Billion)
- Table 3 U.S. Telemedicine Market, by Kiosks, 2015-2027 (USD Billion)
- Table 4 U.S. Telemedicine Market, by Digital Cameras, 2015-2027 (USD Billion)
- Table 5 U.S. Telemedicine Market, by Telemedicine Kits, 2015-2027 (USD Billion)
- Table 6 U.S. Telemedicine Market, by Mobile Medical Devices, 2015-2027 (USD Billion)
- Table 7 U.S. Telemedicine Market, by Other Hardware Component, 2015-2027 (USD Billion)
- Table 8 U.S. Telemedicine Market, by Software & Services Component, 2015-2027 (USD Billion)
- Table 9 U.S. Telemedicine Market, by Remote Patient Monitoring Software & Services, 2015-2027 (USD Billion)
- Table 10 U.S. Telemedicine Market, by Real-Time Interaction Software & Services, 2015-2027 (USD Billion)
- Table 11 U.S. Telemedicine Market, by Store-And-Forward Software & Services, 2015-2027 (USD Billion)
- Table 12 U.S. Telemedicine Market, by Remote Order Entry Service, 2015-2027 (USD Billion)
- Table 13 U.S. Telemedicine Market, by Other Software & Services, 2015-2027 (USD Billion)
- Table 14 U.S. Telemedicine Market, by Teleradiology, 2015-2027 (USD Billion)
- Table 15 U.S. Telemedicine Market, by Telepsychiatry, 2015-2027 (USD Billion)
- Table 16 U.S. Telemedicine Market, by Telestroke, 2015-2027 (USD Billion)
- Table 17 U.S. Telemedicine Market, by Tele-ICU, 2015-2027 (USD Billion)
- Table 18 U.S. Telemedicine Market, by Teledermatology, 2015-2027 (USD Billion)
- Table 19 U.S. Telemedicine Market, by Teleconsultation, 2015-2027 (USD Billion)
- Table 20 U.S. Telemedicine Market, by Other Application, 2015-2027 (USD Billion)
- Table 21 U.S. Telemedicine Market, by Mobile Health Apps, 2015-2027 (USD Billion)
- Table 22 U.S. Telemedicine Market, by Virtual, 2015-2027 (USD Billion)
- Table 23 U.S. Telemedicine Market, by Telehealth Portals & kiosks, 2015-2027 (USD Billion)
- Table 24 U.S. Telemedicine Market, by Other Modes of Delivery, 2015-2027 (USD Billion)
- Table 25 U.S. Telemedicine Market, by Providers, 2015-2027 (USD Billion)
- Table 26 U.S. Telemedicine Market, by Payers, 2015-2027 (USD Billion)
- Table 27 U.S. Telemedicine Market, by Patients, 2015-2027 (USD Billion)
List of Figures
- Figure 1. Market Highlights (2019, Revenue)
- Figure 2. Integrated Ecosystem
- Figure 3. Research Methodology: Top Down & Bottom Up Approach
- Figure 4. Industry Snapshot
- Figure 5. Porter's Five Forces
- Figure 6. U.S. Telemedicine Market, By Type, 2019 & 2027 (USD Billion)
- Figure 7. U.S. Telemedicine Market, By Application, 2019 & 2027 (USD Billion)
- Figure 8. U.S. Telemedicine Market, By Mode of Delivery, 2019 & 2027 (USD Billion)
- Figure 9. U.S. Telemedicine Market, By End User, 2019 & 2027 (USD Billion)
- Figure 10. Strategic Analysis - U.S. Telehealth
