South Africa Telemedicine Market Size & Outlook, 2023-2030
South Africa telemedicine market, 2018-2030 (US$M)
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South Africa telemedicine market highlights
- The South Africa telemedicine market generated a revenue of USD 822.8 million in 2023 and is expected to reach USD 2,862.0 million by 2030.
- The South Africa market is expected to grow at a CAGR of 19.5% 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 822.8 million |
| Market revenue in 2030 | USD 2,862.0 million |
| Growth rate | 19.5% (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, South Africa accounted for 0.7% 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 Middle East & Africa, South Africa telemedicine market is projected to lead the regional market in terms of revenue in 2030.
- Israel is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,545.4 million by 2030.
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Telemedicine Market Scope
Telemedicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Africa 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 52.07% in 2023. Horizon Databook has segmented the South Africa telemedicine market based on product, services covering the revenue growth of each sub-segment from 2018 to 2030.
The COVID-19 pandemic has compelled Health Professions Council of South Africa (HPCSA) to support telemedicine in healthcare. In March 2020, HPCSA issued guidelines that permit local practitioners to utilize telemedicine for the duration of the pandemic.
As a result, the market has witnessed the introduction of various solutions. For instance, in November 2020, MediVic Hub launched a new digital health solution MediVic. Hence, with this launch, the company has entered into the local telemedicine space.
The acceptance of innovative technologies, for example, the rollout of 5G mobile systems across the nation, is likely to foster the use and additional development of telemedicine services in the country. Hence, such factors are estimated to support 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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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa telemedicine market , including forecasts for subscribers. This country databook contains high-level insights into South Africa telemedicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa telemedicine market size, by component, 2018-2030 (US$M)
South Africa Telemedicine Market Outlook Share, 2023 & 2030 (US$M)
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