Video Telemedicine Global Market Report 2024

The video telemedicine market size has grown rapidly in recent years. It will grow from $2.51 billion in 2023 to $2.96 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth observed in the historical period can be attributed to improving internet infrastructure, increasing healthcare costs, rising demand for remote healthcare services, the expanding elderly population, and regulatory support.

The video telemedicine market size is expected to see rapid growth in the next few years. It will grow to $5.67 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The anticipated growth in the forecast period can be attributed to the growth in telehealth investments, the rise in chronic diseases, the expanding availability of high-speed internet, regulatory facilitation for telemedicine, and global health crises. Major trends expected in the forecast period include enhanced cybersecurity measures, personalized telemedicine solutions, increased use of wearable devices in telehealth, a focus on mental health telemedicine services, and advancements in remote monitoring technologies.

The anticipated increase in chronic diseases is set to drive the expansion of the video telemedicine market. Chronic diseases, characterized by enduring conditions that can be managed but not entirely cured, prompt the need for innovative healthcare solutions. Video telemedicine emerges as a valuable tool in addressing this challenge, offering improved access to care, facilitating remote monitoring and self-management, fostering communication between patients and healthcare providers, and ultimately enhancing outcomes in disease management. Notably, according to the World Health Organization's 2022 Highlights, chronic diseases, or Noncommunicable Diseases (NCDs), account for 74% of global annual deaths, totaling 41 million. Among them, cardiovascular diseases contribute 17.9 million deaths, cancer 9.3 million, chronic respiratory diseases 4.1 million, and diabetes 2.0 million. Consequently, the growing prevalence of chronic diseases is expected to drive the video telemedicine market's growth.

The increasing aging population is poised to further propel the video telemedicine market. As societies experience a demographic shift characterized by a rising proportion of individuals aged 65 and older, the demand for geriatric healthcare solutions increases. Video telemedicine becomes a vital component in addressing the healthcare needs of the elderly, offering them convenient access to medical consultations, monitoring, and support, thereby enhancing their overall quality of life. According to the World Health Organization, by 2030, 1 in 6 individuals globally would be aged 60 or older, reaching an estimated 2.1 billion elderly people by 2050. This demographic trend acts as a significant driver for the growth of the video telemedicine market.

Technological advancements stand out as a prominent trend gaining traction in the video telemedicine market. Leading companies in the market are strategically launching new technologies to fortify their positions and gain a competitive edge. For example, Samaritan Health Services Inc., an innovative healthcare provider in the U.S., introduced the Epic Video Client telemedicine platform in July 2023. Uniquely designed, this platform streamlines clinical paperwork, securely launches video visits, and allows quick access to patient histories within the Epic electronic health records system. It also facilitates the inclusion of family members and linguists in a patient's telemedicine appointment.

Major players in the video telemedicine market are intensifying their focus on introducing advanced telehealth solutions, such as HIPAA-ready virtual care solutions. Complying with Health Insurance Portability and Accountability Act (HIPAA) regulations, these solutions ensure secure and confidential handling of protected health information (PHI) during virtual healthcare interactions. Verizon Business, a U.S.-based healthcare provider, launched the HIPAA-ready BlueJeans Telehealth solution in May 2021. This purpose-built offering features one-click, download-free access to video telehealth experiences via mobile devices or desktops and offers a customizable landing experience for expedited information sharing. It aims to simplify processes, provide flexibility for providers and patients, enhance safety, and broaden the availability of services for healthcare organizations.

In April 2022, Patient Square Capital, a U.S.-based healthcare investment firm, acquired SOC Telemed Inc. for $304.2 million. This strategic move is expected to provide SOC Telemed Inc., a provider of acute telemedicine technology and solutions, with the necessary resources and flexibility to sustain telemedicine investments, expand its outreach, and enhance its services.

Major companies operating in the video telemedicine market report are Huawei Technologies Co Ltd., Sony Corporation, Cisco Systems Inc., Siemens Healthineers AG, Logitech International S.A., Teladoc Health Inc., Poly Inc., GoodRx Holdings Inc., Vonage Holdings Corp, Doximity Inc., Included Health LLC, American Well Corporation, 23andMe Holding Co, Talkspace Inc, LifeSize Communications Inc, MDLIVE Inc, GlobalMed Inc., PlushCare Inc, MeMD LLC, AMD Global Telemedicine Inc., Sesame Inc, 98point6 Technologies Inc., Vermont Telephone Company Inc., HealthTap Inc, CirrusMD Inc., Vidyo Inc., VSee Lab Inc., eVisit Inc., Visionflex Pty Limited, Techmedic International B.V.

North America was the largest region in the video telemedicine market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the video telemedicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the video telemedicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary components of video telemedicine include services, hardware, and software. Services involve the intangible elements of the economy, differing from tangible goods that can be physically handled. Video telemedicine is applied in various medical specialties such as neurology and psychiatry, cardiology, orthopedics, dermatology, radiology, gynecology, oncology, dentistry, and pathology. The end users of video telemedicine include home care services, hospitals, clinics, and other healthcare facilities.

The video telemedicine market research report is one of a series of new reports that provides video telemedicine market statistics, including video telemedicine industry global market size, regional shares, competitors with a video telemedicine market share, detailed video telemedicine market segments, market trends and opportunities, and any further data you may need to thrive in the video telemedicine industry. This video telemedicine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The video telemedicine market consists of revenues earned by entities by providing remote patient monitoring, store and forward, and consultations with patients through video conferencing. The market value includes the value of related goods sold by the service provider or included within the service offering. The video telemedicine market consists of sales of webcams, connected medical devices, and digital cameras. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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