Top Companies in Telehealth & Telemedicine Market

The telehealth & telemedicine market is projected to reach USD 180.86 billion by 2030 from USD 94.14 billion in 2024, at a CAGR of 11.5% from 2024  to 2030. Some of the key elements fueling the expansion of the telehealth and  market are rising prevalence of chronic diseases which requires constant patient monitoring and management. This elevates the demand for remote healthcare solutions. Technological advancements in AI, machine learning, and IoT have increased the demand for telehealth services by making real-time data analysis and personalized care achievable and making the care process more responsive to individual patient needs.

Additionally, COVID-19 pandemic has been an increased adoption of telehealth since patients and providers seek a safer and more convenient way of accessing care without a physical visit. Market growth is driven through infrastructure development and the creation of favorable regulatory environments in government initiatives aimed at promoting the adoption of digital health. Mobile health applications and web-based platforms are trending, enabling the easy communication between patients and health care providers; this results in a better experience and engagement. The shortage of healthcare professionals makes it necessary to find innovative solutions for filling service gaps, such as telemedicine. With all these factors coming together, they position telehealth as a critical component of a modern healthcare system that promises better outcomes and increases access to life's necessities across diverse populations.

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The major players in the telehealth & telemedicine market with a significant global presence are Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Epic Systems Corporation (US), Oracle (US), Doximity, Inc. (US), Teladoc Health, Inc. (US), American Well (US), Siemens Healthineers AG (Germany), Cisco Systems Inc. (US), Included Health, Inc. (Doctor on Demand, Inc.) (US), AMC Health (US), TeleSpecialists (US), Walgreen Co. (US), Caregility (US), CVS Health (US), EverNorth Health, Inc. (US), Elation (US), Iron Bow Healthcare Solutions (US), and Zoom Communications, Inc. (US), Timedoc Health (US), Cerebral Inc. (US), Kindbody (US), Transcarent (US), and Caresimple, Inc. (US). The market players have adopted strategies such as acquisitions, collaborations, partnerships, mergers, product/service launches & enhancements, and approvals to strengthen their position in the telehealth & telemedicine market. The product and technology innovations have helped the market players expand globally by providing telehealth & telemedicine solutions.

Koninklijke Philips N.V

Koninkliike Philips N.V. is a diversified technology-based company in the healthcare and consumer lifestyle markets. It is one of the leading companies in the healthcare sector with a strong presence in cardiac care, acute care, and home healthcare. The company operates through four segments: Personal Health, Diagnosis & Treatment, Connected Care, and Others. The telehealth and telemedicine services falls under the connected care segment. The connected care segment consists of following business's monitoring, sleep & respiratory care and enterprise informatics. The telehealth solutions are used by providers and patients. The company operates in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In November 2024, Philips has received FDA approval for remote scanning and protocol management features in its Radiology Operations Command Center (ROCC), allowing radiologists to assist with scans remotely.  In January 2023, Philips and Masimo expanded their partnership to enhance telehealth by integrating the Masimo W1 health-tracking watch with Philips' monitoring systems for better patient care at home.

Medtronic

Medtronic is one of the largest medical technology, services, and solutions companies globally. The company operates through four principal segments, namely, Cardiovascular, Diabetes, Medical Surgical, and Neuroscience. The company extends telehealth solutions across all four segments. Within the Cardiac and Vascular segment, it offers products and services to diagnose, treat, and manage cardiac rhythm disorders and cardiovascular diseases. Medtronic's portfolio encompasses remote monitoring platforms and patient-centered software through its products and Medtronic Care Management Services. The telehealth solutions offered by the company cover glucose management and cardiac condition management. Medtronic's telehealth device offerings include Bluetooth-enabled and direct-connect peripherals. These devices comprise weight scales, glucometers, blood pressure monitors, pulse oximeters, pedometers, and activity trackers. Medtronic serves its customers in ~160 countries worldwide. The company operates in North America, Latin America, Europe, Asia Pacific, Middle East and Africa and Russia.

Epic Systems Corporation

Epic Systems is a software development, installation, and support company that also provides consulting services. The company establishes healthcare management software that combines financial and clinical information from inpatient, ambulatory, and payer technology systems. The company's core competency is to provide EHR software solutions. Epic Systems Corporation is integrating Al into telehealth and telemedicine through strategic partnerships with Microsoft and generative Al technologies. Epic aims to improve productivity and patient care in virtual healthcare settings by combining its EHR solutions with Microsoft's Azure OpenAl Service. This encompasses improving workflows, enabling generative Al to compose message responses, and supporting natural language queries. Epic's Al efforts also focus on enhancing self-service reporting tools, maintaining financial integrity, and improving clinical outcomes, all of which will enhance global telehealth and telemedicine systems. It operates its offices in the US, UK, Canada, Denmark, the Netherlands, Norway, Saudi Arabia, the UAE, Finland, Ireland, Australia, Singapore, and Switzerland.

Related Reports:

Telehealth & Telemedicine Market by Function (Teleconsultation, RPM, Diagnostics & Treatment, Analytics, Administrative), Application (TelelCU, Teleradiology, Telecardiology, Diabetes), End User (Hospital, ASC, Payer), & Region - Global Forecast to 2030

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