North America Telemedicine Market to Grow at a CAGR of 18.7% to reach US$ 74,682.98 million from 2021 to 2028

The telemedicine market in North America is expected to grow from US$ 22,556.58 million in 2021 to US$ 74,682.98 million by 2028; it is estimated to grow at a CAGR of 18.7% from 2021 to 2028.

The US, Canada, and Mexico are major economies in North America. Rising use of smartphones and upcoming of various mobile platforms is the major factor driving the growth of the North America telemedicine market. Smartphones are making healthcare practices more comfortable and manageable as they play key role in the collection of patient’s health data; moreover, they can also act as a medium to provide healthcare services as well as to provide prescriptions, medical knowledge, recommendations, and so on. The telemedicine technology allows healthcare providers to support patients throughout disease surveillance, guidance treatments, and chronic disease management. However, the COVID-19 pandemic has had a big impact on internet user research, and hence, the actual figures are likely to be much higher. Health segmentation (VHA) project in the US, aim at assisting in reducing, managing, and preventing the occurrence of chronic diseases by remote monitoring of patients. In addition, in 2018, UNICEF developed RapidPro, a unique and innovative dashboard-system, to help the Malaria Sub-directorate of the Ministry of Health (MoH) in keeping track of health; the system is in effect since 2018, spanning 20 provinces and 20,000 villages. UNICEF is likely to continue to refine and expand the use of telemedicine tools to enhance the capabilities of communities and governments to manage HIV and malaria infections, awareness, immunization, and integrated national data as well as to ensure the long-term sustainability and scalability of the RapidPro program, as it is gradually being handed over to the government.  

During the COVID-19 pandemic, the reliance on telemedicine and telehealth has increased for the provision of health care services. The pandemic has caused a massive acceleration in the use of telehealth. Consumer adoption has skyrocketed from 11% of the US consumers using telehealth in 2019 to 46% of consumers now using telehealth to replace canceled healthcare visits. According to a report published by the US National Library of Medicine, National Institutes of Health in November 2020, as the novel coronavirus continues to spread, many hospitals and physician practices have transitioned to telemedicine to conduct nonessential appointments. A study of NYU Langone Health trends (New York, NY, USA) showed a decline of 80% in in-person visits and a 683% increase in telemedicine visits between March 2 and April 14, 2020. As the number of COVID-19 infected patients increase, the use of computers and tablets for telemedicine can also reduce staff exposure in ambulances and hospitals. It is expected that the demand for these services would increase dramatically in the US over the next few months, with shares of one telehealth provider, Teladoc Health Inc., increasing almost 50% since the start of 2020. Hospitals and healthcare systems are already encouraging people with suspected COVID-19 symptoms to use telehealth services to limit people's flow to already crowded emergency rooms and clinics. Therefore, the growing demand for telemedicine during COVID-19 in North America is likely to boost the growth of the telemedicine market across the region during the forecast period. 

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America telemedicine market. The North America telemedicine market is expected to grow at a good CAGR during the forecast period.

North America Telemedicine Market Segmentation

North America Telemedicine Market – By Type

• Telehospital
• Telehome

North America Telemedicine Market – By Product and Services

• Software and Hardware
• Tele-Consulting
• Tele-Monitoring
• Tele-Education/Training

North America Telemedicine Market – By Specialty

• Cardiology
• Gynecology
• Neurology
• Orthopedics
• Dermatology
• Mental Health
• Others

North America Telemedicine Market – By Delivery Mode

• Mobile
• Call Centres
• Web

North America Telemedicine Market, by Country

• US
• Canada
• Mexico

North America Telemedicine Market - Companies Mentioned

• Allscripts Healthcare Solutions, Inc.
• Amd Global Telemedicine, Inc.
• American Well Corporation
• Cerner Corporation
• Cisco Systems, Inc.
• Eagle Telemedicine Solutions Llc
• Honeywell International, Inc.
• Insight
• Koninklijke Philips N.V
• McKesson Corporation
• Teladoc Health

North America Telemedicine Report Scope