Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Telemedicine Market size was over USD 144.08 billion in 2024 and is projected to reach USD 1.12 trillion by 2037, growing at around 17.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of telemedicine is evaluated at USD 165.02 billion.
The growth of the market can be attributed to factors such as, a lack of physicians, a rising geriatric population, convenient access to telehealth and telemedicine, a significant surge in telecommunication, a higher prevalence of chronic diseases, and others. For instance, the IT sector is projected to spend over USD 1 trillion on telecommunication services by 2024, meanwhile, the mobile data traffic is estimated to be about 50 exabytes annually. The term telemedicine refers to the process of utilization of electronic information and technology to provide requisite healthcare support. Furthermore, the market is also anticipated to grow on the back of rising cases of chronic diseases. Based on a report published by the National Library of Medicine (NLM), it was stated that about one in three of all people suffers from chronic diseases worldwide. Additionally, in 2019, about 17.9 million death was noticed owing to cardiovascular diseases, as per a report by World Health Organization. All these factors are anticipated to boost the growth of the market over the forecast period.
