Telehealth Market Size

Telehealth Market Size

Telehealth Market size was valued at more than USD 71.9 billion in 2022 and is expected to grow at 12.9% CAGR from 2023 to 2032 driven by rising demand for remote patient monitoring services.

There has been a tremendous rise in the use of smartphones by physicians globally. Leading to increasing adoption of digital health. The penetration of smartphones, tablets, and other mobile platforms is noted to be one-third among all U.S. adult population, with physicians adopting them twice as compared to the general population. For instance, in 2019 as per pew research centre, it is estimated that more than 6 billion people globally own a mobile device, out of which more than two-thirds are smartphones. This has led to enormous growth of mobile applications for healthcare needs. This has led to enormous expansion of mobile applications for healthcare needs.
 

Telehealth technologies such as telemedicine, chatbots, and other technologies are being deployed to help gather information, reassure the population, treat patients, and make diagnoses. Telehealth solutions are also being invested to connect physicians remotely, creating a positive impact on the forecast period.
 

The market share is driven by remote patient monitoring services due to their capability to monitor various chronic conditions from remote locations. Moreover, increasing prevalence of diseases such as cardiovascular, cancer, and diabetes should propel the adoption of remote patient monitoring services.