The U.S. telemedicine market is set to register significant growth by 2027 owing to rising prevalence of infectious and chronic diseases in the region.

Telemedicine refers to the remote delivery of healthcare services, which includes virtual consultations, communication with specialists and monitoring. Telemedicine has also enabled the accessibility of remote patient care across many rural and underdeveloped areas, making healthcare inclusive and readily accessible, which has facilitated product penetration across the region.

Notably, the ongoing COVID-19 pandemic has prompted governments, healthcare organizations, and companies to invest in establishing a strong telecommunications infrastructure, which has augmented market uptake in recent years. Furthermore, telemedicine has helped curtail the transmission of the COVID-19-causing virus while reducing the burden on the healthcare systems due to increased hospitalizations, thereby bolstering industry expansion during the pandemic.

Moreover, industry players are adopting lucrative strategies to extend their market presence, which has favorably impacted the overall business landscape. For instance, in July 2020, Teladoc Health, a major virtual healthcare provider, announced the acquisition of InTouch Health, a key telemedicine company.

With the deal, Teladoc Health purposed to connect the care experience across outpatient, in-patient, and home care settings by integrating InTouch Health’s innovative telehealth capabilities to link providers to one another in complex medical environments. The deal strengthened Teladoc’s capabilities to provide greater access to high-quality care and better health outcomes.

The U.S. telemedicine market has been segmented on the basis of component, type, specialty, delivery mode, and service. In terms of service, the market has further been categorized into tele-monitoring, tele-consulting, tele-education/training, and others.

The tele-consulting sub-segment held a sizable market share of around 44.6% in 2020 and is estimated to expand at a steady pace over 2021-2027. The others sub-segment is expected to be valued at more than USD 17,807.3 million by the end of 2027.

Based on type, the U.S. telemedicine market has been divided into telehome and telehospital. The telehome sub-segment garnered a valuation of nearly USD 10,920.0 million in 2020 and is anticipated to witness robust growth over the assessment timeframe.

By specialty, the market has been bifurcated into neonatology, cardiology, mental health, orthopedics, neurology, gynecology, dermatology, critical care, and others. The neurology sub-segment is slated to progress at a considerable pace of about 18.2% CAGR over the review period.

With respect to component, the U.S. telemedicine market has been segregated into service, software, and hardware. The service sub-segment is speculated to amass substantial profits by 2027, expanding at a CAGR of approximately 17.4% over the analysis timeline.

Based on delivery mode, the market has been classified into call centers and web/mobile. The call centers sub-segment surpassed a valuation of USD 12,052.0 million in 2020 and is projected to showcase optimistic growth through the forecast period.