Virtual Care Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

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.

Virtual Care Market Report Analysis

Virtual Care Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• AMD Global Telemedicine
• American Well
• ATandT
• CHI Health
• GENERAL ELECTRIC COMPANY
• Koninklijke Philips N.V.
• MDLIVE Inc
• Cerner Corporation
• United HealthCare Services, Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Consultation Type

• Video Consultation
• Audio Consultation
• Kiosks

By End User

• Hospitals
• Pharmacies
• Home Settings

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
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Virtual Care Market Report Scope