Global Virtual Care Market
Global Virtual Care Market was valued at USD 2.045billion in 2020 which expected to reach USD 43.85billion in 2030 at a CAGR 38.98% from 2021 to 2030.
Virtual care is a virtual interaction or visit between patient and hospitals or clinics through communication technology. The communication technology can be audio or video connectivity which enables virtual meetings to happen in real time. Virtual care allows patients & doctors to interact with each other from any location across the globe in real-time. The various advantages associated with virtual care are eliminates geographical barrier, real-time interaction, reduces cost & time, and others. Also, it has significant application in disease management that requires constant follow-ups.
Market Drivers
The increase in adoption of connected health gadgets and the adoption of smartphones are expected to boost global virtual care market over the forecast period. The spared of COVID-19 pandemic has raised the adoption of virtual care technologies by patients, and doctors. Many people adopted real-time virtual health platforms to avoid visiting hospitals during the pandemic.
To reduce burden on doctors & prevent Coronavirus spread, many healthcare facilities across the globe are adopting tele-ICUs. For instance, in August 2020, a new tele-ICU service was introduced by Government of Maharashtra, India. Furthermore, in March 2020, Sheba Medical Center and the Ichilov Hospital in Israel had launched AI-based tele-ICUs for supporting COVID-19 patients. Additionally, the shortage of ICU beds across the globe is driving the adoption of tele-ICUs thereby driving the virtual care market growth potential.
Market Restraints
Data security concern, lack of knowledge are the major restraining factors which expected to hinder the global virtual care market growth over the forecast period. Also, growing network issues may hamper the growth of global virtual care market throughout the forecast period.
Market Segmentation
The Global Virtual Care Market is segmented into consultation type such as Video Consultation, Audio Consultation, and Kiosks. Further, market is segmented into end user such as Hospitals, Pharmacies, Individuals, and Other Medical Service Providers.
Regional Analysis
The Global Virtual Care Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North America region dominated the virtual care market and accounted for the highest revenue share which is attributed to the high awareness and adoption of advanced technologies in the region. For instance, as per the survey conducted by American Well in 2019 in the United States, around 66% of the consumers were willing to use telehealth including real-time virtual health.
Key Players
Various key players are listed in this report such as AT&T, American Well, AMD Global Telemedicine, Inc., CHI Health, Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, MedSpring, MDLIVE Inc., United HealthCare Services, Inc., etc.
Market Taxonomy
By Consultation Type
By End User
By Region
Key Questions Addressed by the Report
Global Virtual Care Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Virtual Care Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Virtual Care Market, By Consultation Type
5.1 Y-o-Y Growth Comparison, By Consultation Type
5.2 Global Virtual Care Market Share Analysis, By Consultation Type
5.3 Global Virtual Care Market Size and Forecast, By Consultation Type
5.3.1 Video Consultation
5.3.2 Audio Consultation
5.3.3. Kiosks
6 Global Virtual Care Market, By End User
6.1 Y-o-Y Growth Comparison, By End User
6.2 Global Virtual Care Market Share Analysis, By End User
6.3 Global Virtual Care Market Size and Forecast, By End User
6.3.1 Hospitals
6.3.2 Pharmacies
6.3.3 Individuals
6.3.4 Other Medical Service Providers
7Global Virtual Care Market, By Region
7.1 Global Virtual Care Market Share Analysis, By Region
7.2 Global Virtual Care Market Share Analysis, By Region
7.3 Global Virtual Care Market Size and Forecast, By Region
8North America Virtual Care Market Analysis and Forecast (2020 – 2030)
8.1 Introduction
8.2 North America Virtual Care Market Share Analysis, By Consultation Type
8.3 North America Virtual Care Market Size and Forecast, By End User
8.4 North America Virtual Care Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9Europe Virtual Care Market Analysis and Forecast (2020 – 2030)
9.1 Introduction
9.2 Europe Virtual Care Market Share Analysis, By Consultation Type
9.3 Europe Virtual Care Market Size and Forecast, By End User
9.4 Europe Virtual Care Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4. Rest of Europe
10Asia Pacific Virtual Care Market Analysis and Forecast (2020 – 2030)
10.1 Introduction
10.2 Asia Pacific Virtual Care Market Share Analysis, By Consultation Type
10.3 Asia Pacific Virtual Care Market Size and Forecast, By End User
10.4 Asia Pacific Virtual Care Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11Latin America Virtual Care Market Analysis and Forecast (2020 – 2030)
11.1 Introduction
11.2 Latin America Virtual Care Market Share Analysis, By Consultation Type
11.3 Latin America Virtual Care Market Size and Forecast, By End User
11.4 Latin America Virtual Care Market Size and Forecast, By Country
12Middle East Virtual Care Market Analysis and Forecast (2020 – 2030)
12.1 Introduction
12.2 Middle East Virtual Care Market Share Analysis, By Consultation Type
12.3 Middle East Virtual Care Market Size and Forecast, By End User
12.4 Middle East Virtual Care Market Size and Forecast, By Country
13Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 AT&T
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 American Well
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 AMD Global Telemedicine Inc
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 CHI Health
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Koninklijke Philips N.V.
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 GENERAL ELECTRIC COMPANY
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 MedSpring
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 MDLIVE Inc
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 United HealthCare Services, Inc
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
