$26.3bn
$XXX.Xm
90,691
1,591
$XX.Xbn
Before the pandemic, telehealth adoption grew steadily and slowly. But as the pandemic shifted traditional healthcare delivery, telehealth visits skyrocketed in March 2020 in response to federal mandates and health concerns. Born out of necessity, widespread telehealth adoption in 2020 was crucial during the pandemic; at its peak, telehealth visits increased 154.0% compared with the previous year. Regulatory flexibilities facilitated this step-change, as expanded insurance coverage of telehealth and adjusted reimbursement rates enabled adoption by providers and patients. Since the uptick, telehealth utilization rates have stabilized at higher levels than pre-pandemic. Even as usage falls, telehealth's reshaped role in healthcare delivery remains, leading revenue to expand at a CAGR of 26.4% to an estimated $26.3 billion over the past five years. Expected rate cuts and growing telehealth adoption will translate to expected growth of 4.5% in 2023.
Industry revenue has grown at a CAGR of 26.4 % over the past five years, to reach an estimated $26.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Teladoc Health, inc. | 2,496.3 | -150.8 | -6.0 |
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Industry revenue is measured across several distinct product and services lines, including Mental health conditions, Respiratory conditions and COVID-19. Mental health conditions is the largest segment of the Telehealth Services in the US.
Unmet need for mental healthcare addressed with telehealth
Telehealth services includes companies providing healthcare services and solutions remotely through the use of telecommunications technology. These companies leverage digital platforms, communication tools and electronic information exchange to facilitate virtual interactions between healthcare professionals and patients.
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NAICS 62199 - Telehealth Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Telehealth utilization has stabilized following the spike in its adoption during the pandemic. While the industry’s potential to transform healthcare has helped it navigate u...
Learn about an industry's products and services, markets and trends in international trade.
Telehealth services have been critical to address an unmet need for mental healthcare. The virtual nature of telehealth facilitates treatment for mental health conditions mor...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
California’s Silicon Valley attracts tech companies in a fast-growing digital health space. Telehealth companies benefit from the region’s proximity to leading tech universit...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
A more crowded telehealth space has intensified competition. An influx of new startups and major retailers entering the market has made it challenging for companies to acquir...
Learn about the performance of the top companies in the industry.
A handful of telehealth companies lead the industry. Most recognizable is Teladoc, a comprehensive telehealth platform with over 90 million users.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Policies set by federal and state agencies dictate access to telehealth. How permissive or dismissive these policies are of telehealth coverage influences consumers’ ability ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Hiring and retaining top tech talent comes at a cost. Since a talented workforce is essential to developing new technology, wages are the single-largest expense for telehealt...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Telehealth Services in the US industry in United States is $26.3bn in 2024.
There are 1,591 businesses in the Telehealth Services in the US industry in United States, which has grown at a CAGR of 23.6 % between 2019 and 2024.
The market size of the Telehealth Services in the US industry in United States has been growing at a CAGR of 26.4 % between 2019 and 2024.
Over the next five years, the Telehealth Services in the US industry in United States is expected to grow.
The biggest company operating in the Telehealth Services market in United States is Teladoc Health, inc.
Virtual treatment of mental health conditions and Virtual treatment of COVID-19 are part of the Telehealth Services in the US industry.
The company holding the most market share in United States is Teladoc Health, inc..
The level of competition is moderate and increasing in the Telehealth Services in the US industry in United States.