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U.S. Telemedicine Market Size

Report ID: GMI4362
Published Date: Dec 2022
Report Format: PDF

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U.S. Telemedicine Market Size

U.S. Telemedicine Market size was valued at more than USD 35 billion in 2022. Driven by the soaring number of chronically ill patients, the industry is estimated to grow at a 12.5% CAGR from 2023 to 2032.

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The increasing prevalence of chronic diseases is anticipated to foster market growth. A strong prevalence of these illnesses, such as cancer, diabetes, and heart diseases, among others, due to the higher adoption of unhealthy habits and sedentary lifestyles viz., consuming alcohol and smoking cigarettes is accelerating the telemedicine industry penetration in the U.S.

Moreover, favorable government initiatives towards the improvement of healthcare systems are also escalating the demand for telemedicine in the region. For instance, in March 2020, the Health Insurance Portability and Accountability Act's policies were made public by the Centers for Medicare & Medicaid Services Administrator (HIPAA). According to this policy, patients are entitled to contact any doctor throughout the pandemic using their smartphones and platforms. Such regulatory changes have increased the use of telemedicine, which is foreseen to boost market expansion.

U.S. Telemedicine Market Report Attributes
Report Attribute	Details
Base Year:	2022
U.S. Telemedicine Market Size in 2022:	USD 35.45 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	12.5%
2032 Value Projection:	USD 115.78 Billion
Historical Data for:	2018 to 2032
No. of Pages:	130
Tables, Charts & Figures:	72
Segments covered:	Service, Type, Specialty, Component, Delivery Mode, and Region
Growth Drivers:	Increasing prevalence of chronic diseases Growing number of smartphone users Technological advancements related to mobile phones and the internet Long waiting times in hospitals for disease treatment Favorable government initiatives
Pitfalls & Challenges:	Security and privacy concerns Stringent regulatory policies and limited reimbursement in the U.S.

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

U.S. Telemedicine Market accounted for more than USD 35 billion in 2022 and is set to progress at a 12.5% CAGR over the next 10 years owing to the strong prevalence of chronic diseases, such as cancer, diabetes, and heart diseases, among others, due to the high adoption of unhealthy habits and sedentary lifestyles.

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