According to the latest research on ‘North America Telemedicine Market Size By Type, Service, Specialty, Delivery Mode, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026A’, published on Market Study Report, North America telemedicine market is anticipated to accrue USD 98 billion by the year 2026.
 

Rising burden of patients suffering from chronic conditions such as cardiovascular diseases, orthopedic disorders, and cancer is propelling the growth of telemedicine market in North America. In fact, according to National Health Council, number of Americans having chronic health issues was 133 million in 2005 and is expected to reach 157 million by the end of 2020.
 

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It is to be noted that telemedicine provides a platform to ease the access to healthcare, maintain flow of treatment, and real-time monitoring of patients remotely. Federal initiatives to promote adoption of telehealth technologies for healthcare information, delivery, and education, in consort with emphasis on providing virtual care during COVID-19 pandemic are stimulating North America telemedicine market outlook.
 

On the contrary, concerns related to privacy and security of patient data, alongside limited awareness regarding the service in developing nations will restrain the industry expansion.
 

Considering the service terrain, tele-monitoring segment held 24% of North America telemedicine industry share in 2019 and is poised to grow further in the coming years as the service enables remote monitoring of patients in case of emergency. Rising cases of cardiovascular ailments, along with widespread adoption of tele-monitoring service in home setting for individuals with development disabilities are boosting the segmental growth.
 

Moving on to type, telehome segment amassed USD 9 billion in 2019 and is reckoned to grow momentously through 2026, on account of increasing geriatric patient population and collective preference for home healthcare settings over hospitals.
 

As per specialty, North America telemedicine market share from mental health segment was 18% in 2019 and Is poised to record modest growth over 2020-2026. Wide array of services, including patient education & therapy, psychiatric evaluation, and medicine management are provided through telepsychiatry. Easy and broad access to healthcare professionals leading to improved patient health is boosting the demand for telemedicine services for mental health specialty in North America.
 

Regionally, Canada telemedicine market is projected to grow with a CAGR of 20.3% through 2026, attributable to constant government initiatives to improve healthcare access in the region. Rising cognizance, booming geriatric population base, swift adoption of advanced technologies, and increasing pervasiveness of chronic diseases will sway the business dynamics further.
 

Established players in North America telemedicine industry include Teledoc Health Inc., Specialist TeleMed, SOC Telemed, OBS Medical Ltd., McKesson Corp., Koninklijke Philips N.V., InSight, Honeywell International Inc., Eagle Telemedicine, Cisco Technology Inc., Cerner Corporation, Blue Sky Telehealth, BioTelemetry Inc., American Well (Amwell), AMD Global Telemedicine Inc., and Allscripts Healthcare Solutions Inc.