Telehealth Global Market Report 2024

The telehealth market size has grown exponentially in recent years. It will grow from $135.59 billion in 2023 to $175.3 billion in 2024 at a compound annual growth rate (CAGR) of 29.3%. The expansion observed in the historical period can be attributed to several factors, including robust growth in emerging markets, increased spending on pets, supportive government initiatives, and a rise in the penetration of pet insurance.

The telehealth market size is expected to see exponential growth in the next few years. It will grow to $445.8 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The growth is driven by rising pet ownership, increased consumption of animal-based products, and urbanization. Key trends include adopting advanced tech such as AI, expanding facilities, forging partnerships, and launching new veterinary telehealth services to boost financial prowess and product range.

The telehealth market is anticipated to witness substantial growth, primarily driven by the increasing prevalence of chronic diseases such as cancer, diabetes, and hypertension. Factors such as prolonged working hours, limited physical activity, and unhealthy lifestyle choices contribute to the rising incidence of chronic diseases, necessitating the use of telehealth platforms. As of September 2023, the World Health Organization reported 41 million deaths annually, with 74% attributed to non-communicable diseases (NCDs) globally. Cardiovascular diseases accounted for 17.9 million deaths, cancer for 9.3 million, chronic respiratory diseases for 4.1 million, and diabetes for 2.0 million deaths. This surge in chronic diseases is expected to drive the demand for telehealth services.

The continuous growth in the geriatric population is identified as another significant factor fueling the expansion of the telehealth market. The elderly population is more susceptible to long-term care and various chronic conditions, including cardiology and orthopedics. According to the World Health Organization, the global population aged 60 and above is estimated to reach 2 billion, almost doubling from 12% to 22% of the overall population by 2025. This demographic, predisposed to chronic diseases, will significantly contribute to the market's growth. Despite this, only 17% of consumers worldwide are aware that their health system or insurance provider offers telehealth or virtual health services as an alternative to traditional healthcare settings.

Healthcare service providers are increasingly forming collaborations and partnerships with startups and technology companies to enhance their service offerings. In March 2021, virtual care provider Doctor On Demand announced plans to merge with healthcare quality and navigation leader Grand Rounds. This integration aims to create a comprehensive virtual care company, offering patients and providers a full suite of digital and interactive solutions. The merged entity will leverage Grand Rounds’ data-driven clinical navigation platform and patient advocacy tools along with Doctor On Demand’s leading virtual care services.

Leading companies within the telehealth market are actively engaged in the development of advanced solutions, exemplified by the introduction of the Virtual Care Management suite. This strategic focus aims to enhance and broaden their portfolio in response to the escalating demand for comprehensive and efficient telehealth services. The Virtual Care Management suite stands out as a solution enabling robust patient engagement and connectivity, thereby alleviating pressure on hospital staff and optimizing the management of chronic diseases. In March 2023, Koninklijke Philips N.V., a prominent health technology company based in the Netherlands, unveiled the Philips Virtual Care Management suite. This versatile offering comprises a range of solutions and services designed to facilitate more engaging and meaningful connections with patients. The suite is tailored to meet the needs of health systems, providers, payers, and employer groups, providing them with the tools to effectively motivate and connect with patients, regardless of their location. Leveraging Philips Virtual Care Management allows organizations to mitigate the strain on hospital staff, reduce emergency department visits, and enhance the management of chronic diseases, ultimately leading to cost savings in healthcare delivery.

Prominent companies in the telehealth sector are actively developing advanced solutions, particularly in remote monitoring. For example, in April 2020, technology company Royal Philips, engaged in healthcare, lighting, and consumer well-being markets, introduced the Avalon CL Fetal and Maternal Pod and Patch for remote monitoring. This wireless solution is designed to minimize physical contact between physicians and patients, a crucial consideration during the COVID-19 pandemic.

In March 2021, Everlywell successfully acquired the telehealth company PWNHealth and its subsidiary Home Access Health for an undisclosed amount. Following the acquisition, a new parent company named Everly Health was formed. As part of this restructuring, PWNHealth will be rebranded as Everly Health Solutions and will function as an independent subsidiary of Everly Health. Importantly, PWNHealth will maintain complete data independence from Everlywell. PWNHealth operates a national telehealth network specializing in diagnostic testing and has been the primary partner for clinical oversight and telehealth services for Everlywell. Home Access Health, the subsidiary, plays a role in informing consumers about their health through self-collected lab tests.

Major companies operating in the telehealth market report are FirstVet, Whiskers Worldwide LLC, Airvet, BondVet, Fuzzy Pet Health, Petzam, PetDesk, WellHaven Pet Health, VetCT, TeleVet, Practo, VetFamily, Vettr, The Vet Connection, Homevet, China Animal Healthcare Ltd., Ceva Sant Animale, Merck/MSD Animal Health, Boehringer Ingelheim, VetPlanet, VetNOW, Vetster, Pawzy, PocketPills for Pets, VIC Animal Health, AVZ animal health, Provet Group, VitOMEK LCC, Micro-plus, Biowet, Bioveta, VELELEK, Delos Medica, Vetro Solutions, Belfarmacom, Pawp, GuardianVets, PetLove, Doctor Vet, Teleconsulta Veterinaria, Vetwork, Aster DM Healthcare, Sesneber International, GE Healthcare, Medtronic Saudi Arabia, Cisco Saudi Arabia Limited Company, Altibbi, Global Vet Ltd., Multivet Ghana Ltd. North America was the largest region in the telehealth market in 2023. The regions covered in the telehealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary types of telehealth solutions encompass software, services, and hardware. Software consists of a set of instructions, programs, or data enabling a computer or other hardware devices to perform specific tasks. Telehealth solutions can be delivered on-premise or through cloud-based platforms. These solutions find application in various healthcare domains, including teleradiology, telepathology, teledermatology, telecardiology, among others, and are utilized by different end-users such as healthcare providers, patients, payers, and others.

The telehealth market research report is one of a series of new reports that provides telehealth market statistics, including telehealth industry global market size, regional shares, competitors with a telehealth market share, detailed telehealth market segments, market trends and opportunities, and any further data you may need to thrive in the telehealth industry. This telehealth 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 countries covered in the telehealth market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The telehealth market includes revenues earned by entities by live videoconferencing, asynchronous video (aka store-and-forward), remote patient monitoring (RPM) and mobile health (mhealth). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


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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