Virtual Care Market Strategies and Share 2031
Virtual care is described as a communication technology-based virtual interaction or visit between a patient and a hospital or clinic. Video or audio connectivity is one type of communication technology that allows virtual meetings to take place in real time. Virtual care allows patients, doctors, and patients to communicate with each other in real time from anywhere on the globe. Real-time interaction, the elimination of geographical barriers, cost and time savings, and other benefits are all connected with virtual care. Virtual care offers a lot of potential in disease management, which requires regular follow-ups.
MARKET SCOPE
The "Global Virtual Care Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Virtual care market with detailed market segmentation by consultation type and end user. The report provides key statistics on the market status of the leading Virtual care market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on consultation type the market is segmented as, video consultation, audio consultation, and kiosks.
- Based on end user the market is segmented as, hospitals, pharmacies and home setting.
MARKET DYNAMICS
Drivers:
- Technological advancements in healthcare is the key driving factor for the market growth.
- Rising adoption of virtual care devices, smartphones and internet penetration across the globe.
- Wide availability of doctors, healthcare professionals across the virtual care platforms is also expected to create significant growth opportunities for the market.
- Growing demand for virtual care due to reduced cost of consultation and benefits such as easy follow ups, discounts.
Restraints:
- However, presence of stringent regulatory framework and privacy issues with the data are expected to restrain market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Virtual care market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Virtual care market in these regions.
IMPACT OF COVID-19ON VIRTUAL CARE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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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
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Virtual care market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Virtual care market in these regions.
IMPACT OF COVID-19ON VIRTUAL CARE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the Virtual care market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Virtual care market are anticipated to lucrative growth opportunities in the future with the rising demand for Virtual care in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Virtual care market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AMD Global Telemedicine
- American Well
- ATandT
- CHI Health
- GENERAL ELECTRIC COMPANY
- Koninklijke Philips N.V.
- MDLIVE Inc
- Cerner Corporation
- United HealthCare Services, Inc
- Siemens Healthcare GmbH
- 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
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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