North America Telemedicine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Telehospital and Telehome), Product and Services (Software and Hardware, Tele-Consulting, Tele-Monitoring, and Tele-Education/Training), Specialty (Cardiology, Gynecology, Neurology, Orthopedics, Dermatology, Mental Health, and Others), and Delivery Mode (Mobile, Call Centers, and Web)

Code: TIPRE00024795 | Pages: 140 | Industry: Healthcare IT | Date: Sep 2021
Covid

Market Introduction

The North America Telemedicine market is divided into the US, Canada, and Mexico. North America captured the most significant share in the global market. The growth of the market is driven by factors such as rising adoption of Telemedicine in the US, rising public health awareness, increasing strategic activities by the government, and presence of leading players. In the United States, 76% of hospitals connect with patients using some form of telemedicine. With increasing need for a multidisciplinary approach to care and patient-provider partnerships, telemedicine has helped strengthen connections between patients, health care providers, and other stakeholders. In the face of the COVID-19 pandemic, the relevance of telemedicine has become even more acute. Use of telemedicine has been rapidly promoted, and laws on its coverage are rapidly changing. Though the use of telemedicine in the U.S. has been minimal prior to COVID-19, interest in and implementation of telemedicine has expanded rapidly during the crisis, as policymakers, insurers and health systems have looked for ways to deliver care to patients in their homes to limit transmission of the novel coronavirus. With growing demand for telemedicine, several changes have been made to telehealth policy, coverage and implementation, in order to make telemedicine more widely accessible during this state of emergency.  Many states in the US are also mandating fully insured private plans to cover and reimburse for telemedicine services equally. Meanwhile, many commercial insurers have voluntarily addressed telemedicine in their response to COVID-19, focusing on reducing or eliminating cost sharing, broadening coverage of telemedicine and expanding in-network telemedicine providers. Health systems have rapidly adapted to implement new telehealth programs or ramp up existing ones.      

The COVID-19 pandemic has resulted in a significant increase in the reliance on telemedicine and telehealth for the provision of health care services. COVID-19 has caused a massive acceleration in the use of telehealth. Consumer adoption has skyrocketed, from 11 percent of US consumers using telehealth in 2019 to 46 percent of consumers now using telehealth to replace canceled healthcare visits. For instance, according to a report published by the US National Library of Medicine, National Institutes of Health in November 2020, "as Coronavirus continues to spread, many hospitals and physician practices have transitioned to telemedicine to conduct nonessential appointments. A study of NYU Langone Health trends (New York, NY, USA) showed a decline of 80% in in-person visits and a 683% increase in telemedicine visits between March 2 and April 14, 2020. As the number of COVID-19–infected patients increase, using computers and tablets for telemedicine can also reduce staff exposure in ambulances and hospitals. It is expected that demand for these services will increase dramatically in the US over the next few months, with shares of one telehealth provider, Teladoc Health Inc., increasing almost 50% since the start of 2020. Hospitals and health systems are already encouraging people with suspected COVID-19 symptoms to use telehealth services to limit people's flow to already crowded emergency rooms and doctor surgeries. Therefore, the growing demand for telemedicine during COVID-19 in North America is likely to boost the growth of the telemedicine market.                    


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Market Overview and Dynamics

The telemedicine market in North America is expected to grow from US$ 22,556.58 million in 2021 to US$ 74,682.98 million by 2028; it is estimated to grow at a CAGR of 18.7% from 2021 to 2028. Social distancing is one of the major strategies adopted by various countries to contain the spread of COVID-19 infection. Among such circumstances, telemedicine is proving key expertise to get health consultations. Increasing number of people are opting for virtual visits for health check-ups. For instance, in March 2020, Teladoc, one of the leading companies offering virtual care, announced that it received ~15,000 virtual visit requests in a single day. High number of patients requesting virtual visits and increasing influence of self-quarantine and social distancing. Telehealth has emerged as an essential component of healthcare amid the COVID-19 pandemic. According to a research article published in the JCO North America Oncology-An American Society of Clinical Oncology Journal, 2020, physical distancing norms imposed to minimize the spread of the SARS-CoV-2 disease resulted in the adoption of most of the outpatient oncology appointments to telemedicine. Although the telemedicine services were integrated into the healthcare systems of many countries before the onset of the pandemic, the adoption of services increased extensively only during the COVID-19 crisis, which is majorly attributed to the conditions that are non-suitable for in-person visits as well as to limitations and restrictions on travel, which encouraged clinicians to adapt to telemedicine-based consultations. Technologies such as telemedicine, and chatbots and robots are being deployed to help gather information, reassure the population, treat patients, make diagnoses, and schedule patients checking.  

Key Market Segments

North America telemedicine market is segmented into type, product and services, specialty, delivery mode, and country. North America telemedicine market, based on the product and services is segmented into software and hardware, tele-consulting, tele-monitoring, and tele-education/training. In 2020, the software and hardware segment held the largest share of the market. North America telemedicine market, based on the type was segmented into telehospital, and telehome. In 2020, the telehospital segment held the largest share of the market. North America telemedicine market, based on the specialty was segmented into cardiology, gynecology, orthopedics, neurology mental health (psychiatry) and others. In 2020, the others segment held considerable share of the market. North America telemedicine market, based on the delivery mode was segmented into mobile, web, and call centers. In 2020, the mobile segment held the largest share of the market. Based on country, the North America telemedicine market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the telemedicine market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Allscripts Healthcare Solutions, Inc.; Amd Global Telemedicine, Inc.; American Well Corporation; Cerner Corporation; Cisco Systems, Inc.; Eagle Telemedicine Solutions Llc; Honeywell International, Inc.; Insight; Koninklijke Philips N.V; McKesson Corporation; and Teladoc Health.          

Reasons to buy report

  • To understand the North America telemedicine market landscape and identify market segments that are most likely to guarantee a strong return.
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for North America telemedicine market.
  • Efficiently plan M&A and partnership deals in North America telemedicine market by identifying market segments with the most promising probable sales.
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America telemedicine market.
  • Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Telemedicine Market Segmentation

North America Telemedicine Market - By Type

  • Telehospital
  • Telehome

North America Telemedicine Market - By Product and Services

  • Software and Hardware
  • Tele-Consulting
  • Tele-Monitoring
  • Tele-Education/Training

North America Telemedicine Market - By Specialty

  • Cardiology
  • Gynecology
  • Neurology
  • Orthopedics
  • Dermatology
  • Mental Health
  • Others

North America Telemedicine Market - By Delivery Mode

  • Mobile
  • Call Centres
  • Web

North America Telemedicine Market - By Country

  • US
  • Canada
  • Mexico

North America Telemedicine Market - Company Profiles

  • Allscripts Healthcare Solutions, Inc.
  • Amd Global Telemedicine, Inc.
  • American Well Corporation
  • Cerner Corporation
  • Cisco Systems, Inc.
  • Eagle Telemedicine Solutions Llc
  • Honeywell International, Inc.
  • Insight
  • Koninklijke Philips N.V
  • McKesson Corporation
  • Teladoc Health

 

 

1.           Introduction

1.1         Scope of the Study

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        North America Telemedicine Market – By Product and Services

1.3.2        North America Telemedicine Market – By Type

1.3.3        North America Telemedicine Market – By Speciality

1.3.4        North America Telemedicine Market – By Delivery Mode

1.3.5        North America Telemedicine Market– By Country

2.           North America Telemedicine Market– Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           North America Telemedicine Market– Market Landscape

4.1         Overview

4.2         North America PEST Analysis

4.3         Expert Opinion

5.           North America Telemedicine Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Rising Use of Smartphones and Upcoming of Various Mobile Platforms

5.1.2        Rising Cases of Chronic and Lifestyle-Related Diseases

5.2         Market Restraints

5.2.1        Increasing Data Security Concerns and Healthcare Fraud

5.2.2        Universal Reimbursement Policies are Limited

5.3         Market Opportunities

5.3.1        Surging Acceptance of Telemedicine in Wake of COVID Pandemic

5.4         Future Trends

5.4.1        Product Enhancements and Acquisitions Leading to Market Consolidation

5.5         Impact analysis

6.           Telemedicine Market– North America Analysis

6.1         North America Telemedicine Market Revenue Forecast and Analysis

7.           North America Telemedicine Market Analysis– By Product and Service

7.1         Overview

7.2         North America Telemedicine Market, By Product and Service 2020 & 2028 (%)

7.3         Software and Hardware

7.3.1        Overview

7.3.2        Software and Hardware: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

7.4         Tele-Consulting

7.4.1        Overview

7.4.2        Tele-Consulting: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

7.5         Tele-Monitoring

7.5.1        Overview

7.5.2        Tele-Monitoring: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

7.6         Tele-Education/Training

7.6.1        Overview

7.6.2        Tele-Education/ Training: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

8.           North America Telemedicine Market Analysis– by Type

8.1         Overview

8.2         North America Telemedicine Market, by Type 2020 & 2028 (%)

8.3         Telehospital

8.3.1        Overview

8.3.2        Telehospital: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

8.4         Telehome

8.4.1        Overview

8.4.2        Telehome: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

9.           North America Telemedicine Market Analysis– by Specialty

9.1         Overview

9.2         North America Telemedicine Market, by Type 2020 & 2028 (%)

9.3         Cardiology

9.3.1        Overview

9.3.2        Cardiology: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

9.4         Gynecology

9.4.1        Overview

9.4.2        Gynecology: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

9.5         Neurology

9.5.1        Overview

9.5.2        Neurology: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

9.6         Orthopedics

9.6.1        Overview

9.6.2        Orthopedics: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

9.7         Dermatology

9.7.1        Overview

9.7.2        Dermatology: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

9.8         Mental Health (Psychiatry)

9.8.1        Overview

9.8.2        Mental Health (Psychiatry): Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

9.9         Others

9.9.1        Overview

9.9.2        Others: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

10.        North America Telemedicine Market Analysis– by Delivery Mode

10.1      Overview

10.2      North America Telemedicine Market, by Delivery Mode 2020 & 2028 (%)

10.3      Mobile

10.3.1     Overview

10.3.2     Mobile: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

10.4      Web

10.4.1     Overview

10.4.2     Web: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

10.5      Call Centers

10.5.1     Overview

10.5.2     Call Centers: Telemedicine Market Revenue and Forecasts To 2028 (US$ Mn)

11.        North America Telemedicine Market Analysis and Forecasts To 2028 – Country Analysis

11.1      Overview

11.1.1     North America: Telemedicine Market, by Country, 2020 & 2028 (%)

11.1.2     US: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

11.1.2.1       US: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

11.1.2.2       US: Telemedicine Market, By Product and Services, 2019–2028 (USD Million)

11.1.2.3       US: Telemedicine Market, by Type, 2019–2028 (USD Million)

11.1.2.4       US: Telemedicine Market, by Specialty, 2019–2028 (USD Million)

11.1.2.5       US: Telemedicine Market, by Delivery Mode, 2019–2028 (USD Million)

11.1.3     Canada: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

11.1.3.1       Canada: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

11.1.3.2       Canada: Telemedicine Market, By Product and Services, 2019–2028 (USD Million)

11.1.3.3       Canada: Telemedicine Market, by Type, 2019–2028 (USD Million)

11.1.3.4       Canada: Telemedicine Market, by Specialty, 2019–2028 (USD Million)

11.1.3.5       Canada: Telemedicine Market, by Delivery Mode, 2019–2028 (USD Million)

11.1.4     Mexico: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

11.1.4.1       Mexico: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

11.1.4.2       Mexico: Telemedicine Market, By Product and Services, 2019–2028 (USD Million)

11.1.4.3       Mexico: Telemedicine Market, by Type, 2019–2028 (USD Million)

11.1.4.4       Mexico: Telemedicine Market, by Specialty, 2019–2028 (USD Million)

11.1.4.5       Mexico: Telemedicine Market, by Delivery Mode, 2019–2028 (USD Million)

12.        Impact of COVID-19 Pandemic on North America Telemedicine Market

12.1      North America: Impact Assessment of COVID-19 Pandemic

13.        Telemedicine Market– Industry Landscape

13.1      Overview

13.2      Growth Strategies Done by the Companies in the Market, (%)

13.3      Organic Developments

13.3.1     Overview

13.4      Inorganic Developments

13.4.1     Overview

14.        Company Profiles

14.1      Allscripts Healthcare, LLC

14.1.1     Key Facts

14.1.2     Business Description

14.1.3     Products and Services

14.1.4     Financial Overview

14.1.5     SWOT Analysis

14.1.6     Key Developments

14.2      Cerner Corporation

14.2.1     Key Facts

14.2.2     Business Description

14.2.3     Products and Services

14.2.4     Financial Overview

14.2.5     SWOT Analysis

14.2.6     Key Developments

14.3      Cisco Systems, Inc.

14.3.1     Key Facts

14.3.2     Business Description

14.3.3     Products and Services

14.3.4     Financial Overview

14.3.5     SWOT Analysis

14.3.6     Key Developments

14.4      Eagle Telemedicine

14.4.1     Key Facts

14.4.2     Business Description

14.4.3     Products and Services

14.4.4     Financial Overview

14.4.5     SWOT Analysis

14.4.6     Key Developments

14.5      Honeywell International Inc.

14.5.1     Key Facts

14.5.2     Business Description

14.5.3     Products and Services

14.5.4     Financial Overview

14.5.5     SWOT Analysis

14.5.6     Key Developments

14.6      McKesson Corporation

14.6.1     Key Facts

14.6.2     Business Description

14.6.3     Financial Overview

14.6.4     SWOT Analysis

14.6.5     Key Developments

14.7      Koninklijke Philips N.V.

14.7.1     Key Facts

14.7.2     Business Description

14.7.3     Products and Services

14.7.4     Financial Overview

14.7.5     SWOT Analysis

14.7.6     Key Developments

14.8      AMD Global Telemedicine, Inc.

14.8.1     Key Facts

14.8.2     Business Description

14.8.3     Products and Services

14.8.4     Financial Overview

14.8.5     SWOT Analysis

14.8.6     Key Developments

14.9      American Well

14.9.1     Key Facts

14.9.2     Business Description

14.9.3     Products and Services

14.9.4     Financial Overview

14.9.5     SWOT Analysis

14.9.6     Key Developments

14.10   Teladoc Health, Inc.

14.10.1  Key Facts

14.10.2  Business Description

14.10.3  Products and Services

14.10.4  Financial Overview

14.10.5  SWOT Analysis

14.10.6  Key Developments

14.11   INSIGHT

14.11.1  Key Facts

14.11.2  Business Description

14.11.3  Products and Services

14.11.4  Financial Overview

14.11.5  SWOT Analysis

14.11.6  Key Developments

15.        Appendix

15.1      About the Insight Partners

15.2      Glossary of Terms

LIST OF TABLES

Table 1.             US: Telemedicine Market, By Product and Services – Revenue and Forecast to 2028 (USD Million)

Table 2.             US: Telemedicine Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 3.             US: Telemedicine Market, By Specialty– Revenue and Forecast to 2028 (USD Million)

Table 4.             US: Telemedicine Market, by Delivery Mode– Revenue and Forecast to 2028 (USD Million)

Table 5.             Canada: Telemedicine Market, By Product and Services – Revenue and Forecast to 2028 (USD Million)

Table 6.             Canada: Telemedicine Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 7.             Canada: Telemedicine Market, by Specialty– Revenue and Forecast to 2028 (USD Million)

Table 8.             Canada: Telemedicine Market, by Delivery Mode– Revenue and Forecast to 2028 (USD Million)

Table 9.             Mexico: Telemedicine Market, By Product and Services – Revenue and Forecast to 2028 (USD Million)

Table 10.          Mexico: Telemedicine Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 11.          Mexico: Telemedicine Market, by Specialty– Revenue and Forecast to 2028 (USD Million)

Table 12.          Mexico: Telemedicine Market, by Delivery Mode– Revenue and Forecast to 2028 (USD Million)

Table 13.          Organic Developments Done by Companies

Table 14.          Inorganic Developments Done by Companies

Table 15.          Glossary of Terms, Telemedicine Market

LIST OF FIGURES

Figure 1.           North America Telemedicine Market Segmentation

Figure 2.           North America Telemedicine Segmentation, By Country

Figure 3.           North America Telemedicine Market Overview

Figure 4.           Telehospital Held Largest Share of Type Segment in North America Telemedicine Market

Figure 5.           US to Show Remarkable Growth During Forecast Period

Figure 6.           North America: PEST Analysis

Figure 7.           North America Telemedicine Market Impact Analysis of Driver and Restraints

Figure 8.           North America Telemedicine Market– Revenue Forecast and Analysis – 2019- 2028

Figure 9.           North America Telemedicine Market, By Product and Service 2020 & 2028 (%)

Figure 10.        North America Software and Hardware: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 11.        North America Tele-Consulting: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 12.        North America Tele-Monitoring: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 13.        North America Tele-Education/ Training: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 14.        North America Telemedicine Market, by Type 2020 & 2028 (%)

Figure 15.        North America Telehospital: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 16.        North America Telehome: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 17.        North America Telemedicine Market, by Specialty 2020 & 2028 (%)

Figure 18.        North America Cardiology: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 19.        North America Gynecology: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 20.        North America Neurology: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 21.        North America Orthopedics: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 22.        North America Dermatology: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 23.        North America Mental Health (Psychiatry): Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 24.        North America Others: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 25.        North America Telemedicine Market, by Delivery Mode 2020 & 2028 (%)

Figure 26.        North America Mobile: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 27.        North America Web: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 28.        North America Call Centers: Telemedicine Market Revenue and Forecasts to 2028 (US$ Mn)

Figure 29.        North America: Telemedicine Market, by Key Country – Revenue (2020) (USD Million)

Figure 30.        North America: Telemedicine Market, by Country, 2020 & 2028 (%)

Figure 31.        US: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

Figure 32.        Canada: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

Figure 33.        Mexico: Telemedicine Market – Revenue and Forecast to 2028 (USD Million)

Figure 34.        Impact of COVID-19 Pandemic on Telemedicine Market in North American Countries

Figure 35.        Growth Strategies Done by the Companies in the Market, (%)

  1. Allscripts Healthcare Solutions, Inc.
  2. Amd Global Telemedicine, Inc.
  3. American Well Corporation
  4. Cerner Corporation
  5. Cisco Systems, Inc.
  6. Eagle Telemedicine Solutions Llc
  7. Honeywell International, Inc.
  8. Insight
  9. Koninklijke Philips N.V
  10. McKesson Corporation
  11. Teladoc Health
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America telemedicine market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America telemedicine market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the telemedicine market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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