Telehealth Services Market in Latin America Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The telehealth services are segmented by Service Type (Remote Patient Monitoring, Store and Forward, and Real-Time Interactive), Application type (Teleconsultation and Tele-mentoring, Medical Education, Tele-Cardiology, Tele-Psychiatry, Tele-Radiology, Tele-Pathology, Tele-Neurology, Tele-Dermatology, Emergency Care, and Home Care), Communication type (Video Conferencing, mHealth Solutions, and Others), By End Users (Providers, Patients, Players, and Others), By Geography (Brazil, Mexico, Peru, Colombia, Argentina, Bolivia, Venezuela, Rest of Latin America), various trends, opportunities, and company profiles.

Latin America Telehealth Services Market Size

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Telehealth Services Market in Latin America Summary
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Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR < 20.00 %
Market Concentration Medium

Major Players

Telehealth Services Market in Latin America Major Players

*Disclaimer: Major Players sorted in no particular order

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Latin America Telehealth Services Market Analysis

Telehealth is referred to as remote medical services provided by healthcare providers. It is widely adopted by healthcare professionals for providing consultation, care management, patient monitoring, administrative meetings, imparting medical education, etc. These services are usually offered through video conferencing, mobile health applications, remote patient monitoring (RPM), etc.

In Latin America, the high prevalence of various chronic ailments, such as cardiovascular diseases, arthritis, cancer, etc., that require continual medical supervision is catalyzing the demand for telehealth services. Additionally, the growing geriatric population, who are more prone to serious medical conditions, is also driving the need for homecare-based medical treatment, thereby propelling the market in the region. Apart from this, the increasing penetration of digitalization trends in the healthcare sector is further augmenting the market growth.

Major market players in the Latin American telemedicine market are AMD Global Telemedicine, 1DOC3, Docademic, Amwell, ViveBem, Teladoc, and Lumed Health among others. The market players are focusing on collaboration and partnership strategies to stay ahead in the competitive market. For instance, In March 2020, VivaBem announced its partnership with Doktor.se for the expansion of digital services in Brazil. The partnership is expected to broaden its customer base and generate more revenue.

Due to the sudden outbreak of the Covid-19 pandemic various healthcare professionals, as well as patients, have been opting for telehealth services. These services help to mitigate the risk of coronavirus infection during hospital visits. The covid-19 pandemic has made the government across Latin America introduce health initiatives to promote the adoption of telehealth solutions which is leading to the growth of this market.

Latin America Telehealth Services Market Trends

This section covers the major market trends shaping the Latin America Telehealth Services Market according to our research experts:

Increasing burden of Chronic Diseases

Approximately 86% of health care expenditure in Latin America is because of chronic and mental health conditions. It is estimated that by 2025, chronic diseases will affect around 164 million Americans which is almost 50% of the population. Most of the individuals with a chronic conditions are elderly which arises mobility limitations. 

Typically people with multiple chronic conditions require regular visits to physicians and telehealth promises to bridge the gap in chronic disease management. It ensures easy access to care for this population and helps both the patients and the treatment providers to have a proper treatment plan, medication plan, long term chronic care management which helps to reduce avoidable healthcare costs.

In Latin America, the rise of Chronic ailments such as arthritis, cardiovascular disease, diabetes, cancer, etc. requires a continual medical consultancy is catalyzing the demand for telehealth services. Additionally, the growing adult population is falling prey to serious medical conditions which are driving the need for homecare-based medical treatment.

Telehealth Services Market in Latin America: Number of adult population in Latin America with chronic diseases in 2020

Technological Advancement is the helping the market to grow

Telehealth is a growing versatile technology delivering healthcare services digitally and virtually to patients in remote locations. Through these advanced digital technologies, delivery of patient-centric care to remotely located patients has been possible, reducing the need for emergency department visits and declining hospitalization rates significantly, thereby propelling the market growth.

Technological innovations such as the emergence of health monitoring smartphone applications are becoming a growth-inducing factor for the telehealth industry. The growing penetration of smart wearable devices for real-time monitoring of blood glucose levels, blood pressure, sleep patterns, heart rate, etc., has also supported the market growth. Besides this, extensive investments in the field of medical sciences, along with the continuous up gradation in telecommunication technologies are anticipated in the near future.

Innovation in the digital healthcare industry, such as the internet of things (IoT) and advanced healthcare analytics, smart wearable devices, and strong internet & smartphone connectivity, is significantly shaping the telehealth industry and providing seamless patient monitoring and efficient chronic disorder management. Furthermore, the amalgamation of AI and machine learning algorithms has enhanced the personalization of healthcare services.

With the growth of social distancing recommendations, it has become high time to adopt Telehealth services. Growth in internet penetration has increased the use of these services. As telehealth providers provide online consultation and online pharma services, the use of internet connection has become an important role.

Telehealth Services Market in Latin America: Number of internet users in Latin American countries as of January 2021

Latin America Telehealth Services Industry Overview

The telehealth service industry in Latin America is highly fragmented with new players in the market. The growth of internet users and LTE services provides an extra hand in the growth of the telehealth service industry. The emerging market of smart wearables and fitbits makes it easier to trace and record the health data of the person. The increasing prevalence of mental disorders coupled with the limited number of healthcare providers for mental health will boost the application of telemedicine in mental health. Furthermore, mental health is deemed to be perfect for telemedicine due to its relatively low emphasis on physical contact and high reliance on counseling, thereby fostering segmental growth.

Latin America Telehealth Services Market Leaders

  1. 1DOC3

  2. Cirrus MD

  3. AMD Global Telemedicines

  4. MD Live

  5. Dr. On Demand

*Disclaimer: Major Players sorted in no particular order

Telehealth Services Market in Latin America Concentration
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Latin America Telehealth Services Market News

  • June 2022- CirrusMD has announced a launch of language support functionality which would enable non-native English speakers to have a conversation with physicians using the language they prefer.
  • May 2022- Amwell has acquired SilverCloud Health which is a digital mental health platform. This agreement will give an aggregate of 4.96 million shares of the company's Class A common stock. Both SilverCloud Health and Conversa Health were purchased by Amwell on 31st August 2021 for USD 320 million.

Latin America Telehealth Services Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Insights on Various Regulatory Trends Shaping Telehealth Services Market in Latin America

    5. 4.5 Insights on Impact of Technology and Innovation in Telehealth Services

    6. 4.6 Insights on Performance of Telehealth Services in Latin America

    7. 4.7 Industry Attractiveness - Porters' Five Forces Analysis

      1. 4.7.1 Threat of New Entrants

      2. 4.7.2 Bargaining Power of Buyers

      3. 4.7.3 Bargaining Power of Suppliers

      4. 4.7.4 Threat of Substitutes

      5. 4.7.5 Intensity of Competitive Rivalry

    8. 4.8 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 Service Type

      1. 5.1.1 Remote Patient monitoring

      2. 5.1.2 Store and Forward

      3. 5.1.3 Real Time Interactive

      4. 5.1.4 Others

    2. 5.2 Application type

      1. 5.2.1 Teleconsultation and Tele-mentoring

      2. 5.2.2 Medical education

      3. 5.2.3 Tele-Cardiology

      4. 5.2.4 Tele-Psychiatry

      5. 5.2.5 Tele-Radiology

      6. 5.2.6 Tele-Pathology

      7. 5.2.7 Tele-Neurology

      8. 5.2.8 Tele-Dermatology

      9. 5.2.9 Emergency Care

      10. 5.2.10 Home Care

      11. 5.2.11 Others

    3. 5.3 Communication type

      1. 5.3.1 Video Conferencing

      2. 5.3.2 mHealth Solutions

      3. 5.3.3 Others

    4. 5.4 By End Users

      1. 5.4.1 Providers

      2. 5.4.2 Patients

      3. 5.4.3 Players

      4. 5.4.4 Others

    5. 5.5 By Country

      1. 5.5.1 Brazil

      2. 5.5.2 Mexico

      3. 5.5.3 Peru

      4. 5.5.4 Colombia

      5. 5.5.5 Argentina

      6. 5.5.6 Bolivia

      7. 5.5.7 Venezuela

      8. 5.5.8 Rest of Latin America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concetration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 AMD Global Telemedicine

      2. 6.2.2 1Doc3

      3. 6.2.3 Cirrus MD

      4. 6.2.4 Docademic

      5. 6.2.5 MDLive

      6. 6.2.6 98point6

      7. 6.2.7 Dr on Demand

      8. 6.2.8 Amwell

      9. 6.2.9 Teladoc

      10. 6.2.10 First stop health

      11. 6.2.11 GlobalMed

      12. 6.2.12 ViveBem

      13. 6.2.13 Medtronics

      14. 6.2.14 Lumed

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER

**Subject to Availability
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Latin America Telehealth Services Industry Segmentation

Telehealth Market players are focusing on improving their technology offerings in terms of all enabling technology. Healthcare companies are also estimating the return on investment and clinical outcomes of the telehealth industry. Insuratracksnce companies are taking a realistic look at the ability to support e-health care and considerably improve the bottom line.

The scope of the study is currently focused on the Latin American Telehealth services Market. The study tracks the key trends in each segment categorized on the basis of Service type, Application type, Communication type, and region. The study also tracks the impact of COVID-19 on the market.

The telehealth services are segmented by Service Type (Remote Patient Monitoring, Store and Forward, and Real-Time Interactive), Application type (Teleconsultation and Tele-mentoring, Medical Education, Tele-Cardiology, Tele-Psychiatry, Tele-Radiology, Tele-Pathology, Tele-Neurology, Tele-Dermatology, Emergency Care, and Home Care), Communication type (Video Conferencing, mHealth Solutions, and Others), By End Users (Providers, Patients, Players, and Others), By Geography (Brazil, Mexico, Peru, Colombia, Argentina, Bolivia, Venezuela, Rest of Latin America), various trends, opportunities, and company profiles.

Service Type
Remote Patient monitoring
Store and Forward
Real Time Interactive
Others
Application type
Teleconsultation and Tele-mentoring
Medical education
Tele-Cardiology
Tele-Psychiatry
Tele-Radiology
Tele-Pathology
Tele-Neurology
Tele-Dermatology
Emergency Care
Home Care
Others
Communication type
Video Conferencing
mHealth Solutions
Others
By End Users
Providers
Patients
Players
Others
By Country
Brazil
Mexico
Peru
Colombia
Argentina
Bolivia
Venezuela
Rest of Latin America
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Latin America Telehealth Services Market Research FAQs

The Latin America Telehealth Services Market is projected to register a CAGR of less than 20% during the forecast period (2024-2029)

1DOC3, Cirrus MD, AMD Global Telemedicines, MD Live and Dr. On Demand are the major companies operating in the Latin America Telehealth Services Market.

The report covers the Latin America Telehealth Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Telehealth Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Telehealth Services in Latin America Industry Report

Statistics for the 2024 Telehealth Services in Latin America market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Telehealth Services in Latin America analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Telehealth Services Market in Latin America Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)