Global Healthcare Teleconsultation Services Market to Exceed USD 497.31 Billion by 2028

Market overview

Healthcare teleconsultation services are provided to needy patients in remote locations using various telecommunication facilities at both ends. In rural areas, facilities are being built with the use of communication technology to enable doctors to assess and treat patients remotely. But, more importantly, how has this market been influenced recently, especially in light of the Covid pandemic? Medical teleconsultation services offer a cost-effective alternative to the shortage of medical personnel in rural areas. This saves the doctor’s time and energy when traveling, while effectively reducing medical costs for the rural poor. As a result, the global telehealth consultation services market is witnessing high demand from all walks of life.

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Rising prevalence of chronic diseases and increasing stress on existing healthcare resources to drive the telehealth consultation services market

The increasing prevalence of various chronic diseases puts tremendous pressure on existing healthcare institutions and physicians. However, recent advancements in high-end telecommunications technology have benefited the healthcare teleconsultation services market by allowing physicians to attend to a greater number of patients without meeting them personally. This has become particularly popular among patients living in rural areas or patients with reduced mobility. Now they can easily consult their doctor via video calls, voice calls or kiosks in non-emergency situations.

The global healthcare teleconsultation services market is expected to witness rapid growth in the coming years owing to the growing number of government programs to provide facilities and promote healthcare teleconsultation services, especially in developed economies. Everyone knows how badly Covid 19 has impacted economies around the world. Although the pandemic has restored and demonstrated the relevance of health teleconsultation services, the market has been harmed nonetheless. Supply networks have been disrupted due to lockdown measures and social distancing norms. The growth of this industry has been hampered by strict rules and government restrictions, but it has made the healthcare teleconsultation services market flourish.

Read the Market Research Report, “Global Healthcare Teleconsultation Services Market by Access Mode (Voice Calls, Video Calls and Kiosks) and Region – Forecast and Analysis 2022-2028” by SkyQuest

Video calls dominate the global healthcare teleconsultation services market
Due to their ease of use, healthcare teleconsultation services via video calls have dominated the market and are expected to maintain their dominance over the forecast period. On the other hand, kiosk has become the fastest growing segment in the global market because kiosk services are efficient. However, they carry IT risks and the laws around them are stringent.

North America is the largest market for healthcare telehealth services as patients try to keep healthcare costs down

Today, North America is the largest market for healthcare teleconsultation services in the world thanks to better reimbursement policies and wide insurance coverage in many healthcare facilities. It has been found that North American companies spend approximately $132 billion per year on telehealth services. This represents a 66% increase from 2016 and reflects the growing trend of using telehealth to improve patient outcomes. The three main reasons for this growth are lower costs, better patient experience and better coordination of care.
With improved telecommunications services in densely populated countries such as China and India, Asia-Pacific has become the fastest growing market for healthcare teleconsultation services. Furthermore, the rapid expansion of internet infrastructure and the growth in the penetration of smartphones with high-speed wireless internet connectivity has made it possible for patients to take advantage of technology and consult their doctor without leaving home.

Joint venture and partnership are the most popular choices among players to maintain in the healthcare teleconsultation services market

The market for medical teleconsultation services is growing rapidly as patients seek more convenient and cost-effective ways to connect with their doctors. Joint venture and partnership models are the most popular choices among players to sustain themselves in this market, as they offer a high degree of flexibility and scalability. These models allow players to enter new markets and offer customers additional services without having to invest in a complete infrastructure. They also provide a good level of protection for partners as they can absorb any losses that may occur.

The Healthcare Teleconsultation Services Market report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data and verifiable market revenue projections. The projections presented in the report have been derived using proven research methodologies and assumptions.

Report scope and segmentation

Report attribute details
CAGR growth rate of 25.70%
The base year for the 2021 estimate
Historical data 2016–2020
Forecast period 2022-2028
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors and Trends, Price Analysis
Segments Covered • By Access – Voice Calls, Video Calls, Kiosks
Regional scope North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA)
Countries covered USA, Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC countries, South Africa
Key Companies Featured • MDLIVE Inc. (USA)
• CareClix, Inc (USA)
• Teladoc Health, Inc. (USA)
• HealthTap, Inc. (USA)
• iCliniq (United States)
• American well (United States)
• SteadyMD Inc. (USA)
• CVS Health (USA)
• Synaptic medicine (France)
• SnapMD, Inc (USA)
Customization Scope Free report customization (15% free customization) with purchase. Added or changed country, region and segment scope.
Pricing and Purchasing Options Take advantage of the benefits of custom purchasing options to meet your specific research needs.

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What does this report bring?
• Market estimate for more than 20 countries
• Healthcare Teleconsultation Services Market Demand by Region, Sub-Region and Country
• Customization of segments, regions and business profiles
• More than 100 tables, more than 150 figures
• Global, regional and national market trends in healthcare tele-consultation services
• Complete mapping of the parameters of the Health teleconsultation services
• Attractive investment proposition in the global healthcare teleconsultation services industry
• Competitive strategies adopted by key players in the Healthcare Teleconsultation Services market
• Drivers, Restraints, Opportunities, Challenges, and Impact on Healthcare Teleconsultation Services Market Sizing
Market growth rate until 2028
• Regulatory scenario, regional dynamics and telehealth consultation services Market overview of major countries in each region
• Detailed market information by region and country
• Analysis of market segmentation trends, opportunities and growth
• Porter’s five forces analysis to know the state of the market
• Market sales of price analysis and health teleconsultation services
• Parent market analysis
• Comparative analysis of the product portfolio

SkyQuest has segmented the global healthcare teleconsultation services market by access mode and region:
● Global Healthcare Teleconsultation Services Market by Access Mode (Revenue, USD Billion, 2022-2028)
o Voice calls
o Video calls
o Kiosks
● Global Healthcare Teleconsultation Services Market by Region (Revenue, USD Million, 2022-2028)
o North America
WE
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ The rest of Europe
o Asia-Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia-Pacific
o Central and South America
▪ Brazil
▪ Rest of CSA
o Middle East and Africa
▪ GCC countries
▪ South Africa
▪ Rest of MEA

Key players in the global healthcare teleconsultation services market
● MDLIVE Inc. (USA)
● CareClix, Inc (USA)
● Teladoc Health, Inc. (USA)
● HealthTap, Inc. (USA)
● iCliniq (USA)
● American well (United States)
● SteadyMD Inc. (USA)
● CVS Health (USA)
● Synapse Medicine (France)
● SnapMD, Inc (USA)

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