U.S. Telemedicine Market Size & Outlook, 2023-2030
U.S. telemedicine market, 2018-2030 (US$M)
Related Markets
U.S. telemedicine market highlights
- The U.S. telemedicine market generated a revenue of USD 33,674.7 million in 2023 and is expected to reach USD 105,893.5 million by 2030.
- The U.S. market is expected to grow at a CAGR of 17.8% 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 33,674.7 million |
| Market revenue in 2030 | USD 105,893.5 million |
| Growth rate | 17.8% (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, U.S. accounted for 29.3% 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 |
|---|
U.S. 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 51.99% in 2023. Horizon Databook has segmented the U.S. telemedicine market based on product, services covering the revenue growth of each sub-segment from 2018 to 2030.
Columbia University, New York, U.S., developed a home telemedicine unit through its Informatics for Diabetes and Telemedicine initiative. Moreover, the Patient Protection and Affordable Care Act requires the U.S. Centers for Medicare and Medicaid Services to impose penalties on hospitals for readmissions that occur within 30 days of discharge.
This provision has incentivized hospitals to opt for telemedicine solutions in order to communicate with and treat patients who might not require readmission, but only medical attention.
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Target buyers of U.S. telemedicine market databook
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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 U.S. telemedicine market , including forecasts for subscribers. This country databook contains high-level insights into U.S. telemedicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. telemedicine market size, by component, 2018-2030 (US$M)
U.S. Telemedicine Market Outlook Share, 2023 & 2030 (US$M)
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