Virtual Care Market Size & CAGR (2024-2031)
The Virtual Care Market is expected to register a CAGR of 31.8% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
An overview of the market deals with the segmentation of the Virtual Care Market based on Technology, Application, and Region. In-depth regional insight including major markets and countries will be provided to give a comprehensive outlook on the global scenario. The market assessments will also include details in US dollars (US$) in order to show the growth trend and competitiveness among the segments. Such information will help every stakeholder understand opportunities in the forthcoming virtual care landscape.
Purpose of the ReportThe report Virtual Care Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Virtual Care Market Segmentation
Consultation Type- Video Consultation
- Audio Consultation
- Kiosks
- Hospitals
- Pharmacies
- Home Settings
Strategic Insights
Virtual Care Market Growth Drivers- Adoption of Telehealth: Telehealth service adoption went up massively following the COVID-19 pandemic, with one report showing that telehealth utilization is up 38 times higher than before the pandemic. Increasing chronic diseases, such as diabetes and hypertension, increase the need for continuous patient monitoring and management, hence increasing virtual importance of care solutions.
- Need to Minimise Cost: The need to minimize costs and enhance patient outcomes by health providers is equally one of the driving forces behind increased investment in telehealth technologies.
- Regulatory Support: One of the major regulatory supports considered to have made this market grow is the relaxed policies for reimbursement and licensing associated with virtual services. Growing consumer demand for convenience and accessibility options in healthcare also supports market growth, with increasingly younger populations-fond of digital solutions-making up huge shares of the population.
- AI Integration: Perhaps the most notable trend in the virtual care market is integration of AI and machine learning in telehealth platforms. This technological advancement improves patient interactions' efficiency and customization. furthermore, it eases evaluation of patients data.
- Focus on Patient Satisfaction: Recently there has been a focus on engagement and satisfaction at the patient level, leading to better and more user-friendly interfaces with mobile applications.
- Security and Privacy: The security and privacy of data are such that companies have to make heavy investments in cybersecurity measures. Taken together, these trends represent a paradigm shift in the delivery of care, with virtual care at its epicentre. 3. Innovation opportunities by key market segment: partnerships between technology companies and healthcare providers inspire the creation of innovative solutions that improve service delivery and strip away unnecessary costs and frictions in the patient experience.
- Collaboration and Partnerships: Partnerships inspire innovation from technology companies and healthcare providers that can improve service delivery and patient experiences. Growing acceptance of virtual platforms for mental health services. Companies that create solutions focused around security, compliance and ease of use will be able to see the opportunities that are emerging. The report will also include insights on market gaps and areas in which it could spark innovation, which in turn will enable the companies to capitalize on the new opportunities.
- Niche Marketing: Equipped with these views, organizations can develop niche marketing strategies, bring about a positive change in service delivery, and improve their competitive advantage within the virtual care market.
- Adoption of Advanced Imaging and 3D Visualization Technologies: The integration of advanced imaging technologies like CT scans, MRI, and 3D modeling into preoperative surgical planning is a significant trend. These technologies help in creating accurate, detailed, and patient-specific models for better surgical outcomes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Virtual Care Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Virtual Care Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
Leading companies in this market are - AMD Global Telemedicine, American Well, ATandT, CHI Health, GENERAL ELECTRIC COMPANY, Koninklijke Philips N V, MDLIVE Inc, Cerner Corporation, United HealthCare Services Inc
The market is expected to register a CAGR of 31.8% during 2023-2031
The primary factors fuelling the Virtual Care Market are the rising awareness and demand for virtual care, continuous developments and advancements in digital health, and the available care in times of need or emergency. This has prompted the way of healthcare delivery in due course.
Future trends include expanded use of wearables for real-time monitoring, enhanced patient-provider interactions through telehealth, and the integration of mental health services. These innovations will drive significant growth and improve patient experiences.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Virtual Care Market - By Consultation Type
1.3.2 Virtual Care Market - By End User
1.3.3 Virtual Care Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VIRTUAL CARE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. VIRTUAL CARE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VIRTUAL CARE MARKET - GLOBAL MARKET ANALYSIS
6.1. VIRTUAL CARE - GLOBAL MARKET OVERVIEW
6.2. VIRTUAL CARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VIRTUAL CARE MARKET - REVENUE AND FORECASTS TO 2028 - CONSULTATION TYPE
7.1. OVERVIEW
7.2. CONSULTATION TYPE MARKET FORECASTS AND ANALYSIS
7.3. VIDEO CONSULTATION
7.3.1. Overview
7.3.2. Video Consultation Market Forecast and Analysis
7.4. AUDIO CONSULTATION
7.4.1. Overview
7.4.2. Audio Consultation Market Forecast and Analysis
7.5. KIOSKS
7.5.1. Overview
7.5.2. Kiosks Market Forecast and Analysis
8. VIRTUAL CARE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. PHARMACIES
8.4.1. Overview
8.4.2. Pharmacies Market Forecast and Analysis
8.5. HOME SETTINGS
8.5.1. Overview
8.5.2. Home Settings Market Forecast and Analysis
9. VIRTUAL CARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Virtual Care Market Overview
9.1.2 North America Virtual Care Market Forecasts and Analysis
9.1.3 North America Virtual Care Market Forecasts and Analysis - By Consultation Type
9.1.4 North America Virtual Care Market Forecasts and Analysis - By End User
9.1.5 North America Virtual Care Market Forecasts and Analysis - By Countries
9.1.5.1 United States Virtual Care Market
9.1.5.1.1 United States Virtual Care Market by Consultation Type
9.1.5.1.2 United States Virtual Care Market by End User
9.1.5.2 Canada Virtual Care Market
9.1.5.2.1 Canada Virtual Care Market by Consultation Type
9.1.5.2.2 Canada Virtual Care Market by End User
9.1.5.3 Mexico Virtual Care Market
9.1.5.3.1 Mexico Virtual Care Market by Consultation Type
9.1.5.3.2 Mexico Virtual Care Market by End User
9.2. EUROPE
9.2.1 Europe Virtual Care Market Overview
9.2.2 Europe Virtual Care Market Forecasts and Analysis
9.2.3 Europe Virtual Care Market Forecasts and Analysis - By Consultation Type
9.2.4 Europe Virtual Care Market Forecasts and Analysis - By End User
9.2.5 Europe Virtual Care Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Virtual Care Market
9.2.5.1.1 Germany Virtual Care Market by Consultation Type
9.2.5.1.2 Germany Virtual Care Market by End User
9.2.5.2 France Virtual Care Market
9.2.5.2.1 France Virtual Care Market by Consultation Type
9.2.5.2.2 France Virtual Care Market by End User
9.2.5.3 Italy Virtual Care Market
9.2.5.3.1 Italy Virtual Care Market by Consultation Type
9.2.5.3.2 Italy Virtual Care Market by End User
9.2.5.4 Spain Virtual Care Market
9.2.5.4.1 Spain Virtual Care Market by Consultation Type
9.2.5.4.2 Spain Virtual Care Market by End User
9.2.5.5 United Kingdom Virtual Care Market
9.2.5.5.1 United Kingdom Virtual Care Market by Consultation Type
9.2.5.5.2 United Kingdom Virtual Care Market by End User
9.2.5.6 Rest of Europe Virtual Care Market
9.2.5.6.1 Rest of Europe Virtual Care Market by Consultation Type
9.2.5.6.2 Rest of Europe Virtual Care Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Virtual Care Market Overview
9.3.2 Asia-Pacific Virtual Care Market Forecasts and Analysis
9.3.3 Asia-Pacific Virtual Care Market Forecasts and Analysis - By Consultation Type
9.3.4 Asia-Pacific Virtual Care Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Virtual Care Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Virtual Care Market
9.3.5.1.1 Australia Virtual Care Market by Consultation Type
9.3.5.1.2 Australia Virtual Care Market by End User
9.3.5.2 China Virtual Care Market
9.3.5.2.1 China Virtual Care Market by Consultation Type
9.3.5.2.2 China Virtual Care Market by End User
9.3.5.3 India Virtual Care Market
9.3.5.3.1 India Virtual Care Market by Consultation Type
9.3.5.3.2 India Virtual Care Market by End User
9.3.5.4 Japan Virtual Care Market
9.3.5.4.1 Japan Virtual Care Market by Consultation Type
9.3.5.4.2 Japan Virtual Care Market by End User
9.3.5.5 South Korea Virtual Care Market
9.3.5.5.1 South Korea Virtual Care Market by Consultation Type
9.3.5.5.2 South Korea Virtual Care Market by End User
9.3.5.6 Rest of Asia-Pacific Virtual Care Market
9.3.5.6.1 Rest of Asia-Pacific Virtual Care Market by Consultation Type
9.3.5.6.2 Rest of Asia-Pacific Virtual Care Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Virtual Care Market Overview
9.4.2 Middle East and Africa Virtual Care Market Forecasts and Analysis
9.4.3 Middle East and Africa Virtual Care Market Forecasts and Analysis - By Consultation Type
9.4.4 Middle East and Africa Virtual Care Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Virtual Care Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Virtual Care Market
9.4.5.1.1 South Africa Virtual Care Market by Consultation Type
9.4.5.1.2 South Africa Virtual Care Market by End User
9.4.5.2 Saudi Arabia Virtual Care Market
9.4.5.2.1 Saudi Arabia Virtual Care Market by Consultation Type
9.4.5.2.2 Saudi Arabia Virtual Care Market by End User
9.4.5.3 U.A.E Virtual Care Market
9.4.5.3.1 U.A.E Virtual Care Market by Consultation Type
9.4.5.3.2 U.A.E Virtual Care Market by End User
9.4.5.4 Rest of Middle East and Africa Virtual Care Market
9.4.5.4.1 Rest of Middle East and Africa Virtual Care Market by Consultation Type
9.4.5.4.2 Rest of Middle East and Africa Virtual Care Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Virtual Care Market Overview
9.5.2 South and Central America Virtual Care Market Forecasts and Analysis
9.5.3 South and Central America Virtual Care Market Forecasts and Analysis - By Consultation Type
9.5.4 South and Central America Virtual Care Market Forecasts and Analysis - By End User
9.5.5 South and Central America Virtual Care Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Virtual Care Market
9.5.5.1.1 Brazil Virtual Care Market by Consultation Type
9.5.5.1.2 Brazil Virtual Care Market by End User
9.5.5.2 Argentina Virtual Care Market
9.5.5.2.1 Argentina Virtual Care Market by Consultation Type
9.5.5.2.2 Argentina Virtual Care Market by End User
9.5.5.3 Rest of South and Central America Virtual Care Market
9.5.5.3.1 Rest of South and Central America Virtual Care Market by Consultation Type
9.5.5.3.2 Rest of South and Central America Virtual Care Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. VIRTUAL CARE MARKET, KEY COMPANY PROFILES
11.1. AMD GLOBAL TELEMEDICINE
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AMERICAN WELL
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ATANDT
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CHI HEALTH
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GENERAL ELECTRIC COMPANY
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. KONINKLIJKE PHILIPS N.V.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MDLIVE INC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. CERNER CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. UNITED HEALTHCARE SERVICES, INC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SIEMENS HEALTHCARE GMBH
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. AMD Global Telemedicine
2. American Well
3. ATandT
4. CHI Health
5. GENERAL ELECTRIC COMPANY
6. Koninklijke Philips N.V.
7. MDLIVE Inc
8. Cerner Corporation
9. United HealthCare Services, Inc
10. Siemens Healthcare GmbH
11. Cisco Systems, Inc.
12. Teladoc Health Inc
13. AMC Health
14. Doctor on Demand
15. Medvivo Group Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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