Canada Telemedicine Market Size & Outlook, 2023-2030
Canada telemedicine market, 2018-2030 (US$M)
Related Markets
Canada telemedicine market highlights
- The Canada telemedicine market generated a revenue of USD 4,878.1 million in 2023 and is expected to reach USD 17,066.9 million by 2030.
- The Canada market is expected to grow at a CAGR of 19.6% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Telemedicine market data book summary
| Market revenue in 2023 | USD 4,878.1 million |
| Market revenue in 2030 | USD 17,066.9 million |
| Growth rate | 19.6% (CAGR from 2023 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Product, Services |
| Key market players worldwide | Twilio Inc Class A, Teladoc Health Inc, Zoom Video Communications Inc |
Other key industry trends
- In terms of revenue, Canada accounted for 4.2% of the global telemedicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. telemedicine market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 17,066.9 million by 2030.
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Telemedicine Market Scope
Telemedicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada telemedicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to telemedicine market will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 51.91% in 2023. Horizon Databook has segmented the Canada telemedicine market based on product, services covering the revenue growth of each sub-segment from 2018 to 2030.
Emerging players, such as Maple and Teladoc, are expected to boost the adoption of telemedicine solutions in the country. These players are involved in various strategic initiatives, which is driving the market growth.
For instance, in October 2020, Teladoc Health, Inc. launched Mental Health Care, a telemedicine service, which expands its suite of offerings available to Canadian employers. Moreover, in August 2020, AMD partnered with iTelemed, an Ontario-based company that provides virtual healthcare solutions.
This partnership aimed to cater to the unmet healthcare needs of marginalized population in Canada during the pandemic. Canada has many stringent regulations for telemedicine platforms, which is restricting the market growth.
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Our clientele includes a mix of telemedicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada telemedicine market , including forecasts for subscribers. This country databook contains high-level insights into Canada telemedicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada telemedicine market size, by component, 2018-2030 (US$M)
Canada Telemedicine Market Outlook Share, 2023 & 2030 (US$M)
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