Highest Mkt Cap
#5 of 49
$40 B
High CAGR
#14 of 49
25 %
Telemedicine allows patients to receive medical care from a distance using videoconferencing and other communication technologies. Telemedicine has been used to provide psychiatric care, dermatology consultations, and even to perform remote surgeries. Telemedicine can reduce costs and improve patient outcomes, but there are concerns about reimbursement policies and access to reliable technology in rural areas.
0 FDA approvals in Telemedicine
Improved Access to Care
"Telemedicine can increase access to care for patients who may have difficulty traveling to in-person appointments, particularly those in rural or remote areas." - Healthcare IT News, December 2021
Cost Savings
"Telemedicine can lead to cost savings for both patients and providers, by reducing travel costs and enabling more efficient use of resources." - American Journal of Managed Care, January 2022
Improved Outcomes
"Telemedicine has been shown to improve outcomes for a variety of conditions, including chronic diseases, mental health, and post-surgical care." - Journal of Medical Internet Research, February 2022
Investor sentiment
Global Market InsightsApril 2021
"...The global telemedicine market was valued at over $45 billion in 2020 and is expected to grow at a CAGR of over 15.2% from 2021 to 2027, driven by the increasing adoption of telemedicine solutions during the COVID-19 pandemic, the rising prevalence of chronic diseases, and the growing demand for remote services."
Frost & SullivanMarch 2021
"...The global telemedicine market is expected to grow at a CAGR of 23.5% from 2020 to 2025, driven by the increasing need for remote services, the growing demand for cost-effective and efficient solutions, and the rising use of advanced technologies such as AI and IoT."
Market Research FutureJune 2021
"...The global telemedicine market is expected to grow at a CAGR of 16.5% from 2021 to 2028, driven by the increasing demand for remote services, the growing need for cost-effective and efficient solutions, and the rising adoption of telemedicine and mHealth technologies."
Sector leaders
Teladoc Health
Teladoc Health is a telemedicine company that offers virtual consultations with licensed physicians 24 hours a day, 7 days a week. The company's platform enables patients to receive medical advice and diagnoses via phone or video, and it has become especially relevant during the COVID-19 pandemic, as patients seek to avoid in-person consultations.
Doctor on Demand
Doctor on Demand is a telemedicine company that connects patients with licensed physicians, psychiatrists, and psychologists via phone or video. The company offers a range of services, including urgent care, behavioral health, and preventive health.
American Well
American Well is a telemedicine company that offers virtual consultations with licensed physicians and other professionals. The company's platform enables patients to receive medical advice and diagnoses via phone or video, and it has become especially relevant during the COVID-19 pandemic, as patients seek to avoid in-person consultations.
