Market Overview:
The global virtual care market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for remote patient monitoring and telemedicine services, rising geriatric population, and growing prevalence of chronic diseases. Based on type, the global virtual care market is segmented into hardware devices and software systems. The hardware devices segment is further sub-segmented into video conferencing systems, telehealth monitors, and others (including tablets/smartphones). The software systems segment is further sub-segmented into healthcare information systems (HIS) and electronic health records (EHRs). Based on application, the global virtual care market is divided into pharmacies, hospitals, clinics/physician offices/outpatient settings,, homecare settings,, long-term care facilities,, military & emergency services,, other types of end users,. Hospitals are expected to account for the largest share of the global virtual care market in 2018 owing to rising demand for remote patient monitoring services across different regions. However,. Clinics are projected to witness highest growth during the forecast period due to increasing adoption of telemedicine by physicians for providing consultations remotely.
Product Definition:
Virtual care is the use of technology to provide care and support for people who are not able to leave their home or meet with a provider in person. This can include video visits, phone calls, email, or other forms of communication. Virtual care is important because it allows people to get the care they need without having to leave their home. It can also be helpful for people who live in rural areas or who have a disability that prevents them from traveling.
Hardware Devices:
Hardware devices are the medical devices that are used in virtual care. It includes wearable medical device, mobile health (mHealth) application and telehealth/distance learning. Wearable medical device is a term used for technology-enabled products that can be worn by patients to monitor or track various parameters such as blood pressure, heart rate, body temperature and others.
Software System:
Software system is a collection of tools and processes that are used to carry out the operations for healthcare organizations. It helps in improving the quality of care, delivering better patient outcomes at lower costs, and reducing errors through effective data management &use.
Software systems have evolved over time due to technological advancements in information technology (IT), electronic health records (EHR), telemedicine, mHealth apps.
Application Insights:
Based on application, the global virtual care market is segmented into pharmacies, hospitals and other healthcare facilities, and others. The hospital segment dominated the overall market in terms of revenue in 2017. This can be attributed to factors such as increasing investments by governments for improving healthcare infrastructure at a domestic level as well as increasing spending capacity of patients due to rising awareness regarding better treatment options.
The pharmacy segment is expected to witness significant growth over the forecast period owing to growing demand for cost-effective pharmaceutical services among consumers globally. Moreover, an increase in retail drug stores has also led towards increased penetration of EHRs which has further propelled demand for vCAL at a global level. Increasing adoption of these systems at a national level along with favorable government regulations supporting its implementation are some key factors contributing towards high penetration rate across hospitals worldwide.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to various factors such as increasing geriatric population, high adoption of telehealth and mHealth services, and rising healthcare expenditure in the U.S., which has resulted in development of advanced solutions for improved patient care experience across all platforms.
Asia Pacific is anticipated to witness lucrative growth over the next eight years owing to increasing penetration rates for digital devices coupled with growing awareness among patients regarding their healthcare options beyond traditional settings especially in developing countries such as India.
Growth Factors:
- Increasing demand for convenience and efficiency in healthcare services
- Rising prevalence of chronic diseases and geriatric population
- Proliferation of digital technologies and increasing adoption of telemedicine
- Growing need to contain healthcare costs and improve quality of care
- Government initiatives to promote use of telemedicine
Scope Of The Report
Report Attributes
Report Details
Report Title
Virtual Care Market Research Report
By Type
Hardware Devices, Software System
By Application
Pharmacies, Hospitals, Others
By Companies
Teladoc, Americal Well, AT&T, MDLIVE, AMD Global Telemedicine, Koninklijke Philips, CHI Health, United HealthCare Services, THA Group, Synzi
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
220
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Virtual Care Market Report Segments:
The global Virtual Care market is segmented on the basis of:
Types
Hardware Devices, Software System
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pharmacies, Hospitals, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Teladoc
- Americal Well
- AT&T
- MDLIVE
- AMD Global Telemedicine
- Koninklijke Philips
- CHI Health
- United HealthCare Services
- THA Group
- Synzi
Highlights of The Virtual Care Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware Devices
- Software System
- By Application:
- Pharmacies
- Hospitals
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Virtual Care Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Virtual care is a type of telehealth that uses technology to connect patients and caregivers in real time. Virtual care allows patients to receive health care from doctors, nurses, or other healthcare professionals through video chats or online consultations.
Some of the major players in the virtual care market are Teladoc, Americal Well, AT&T, MDLIVE, AMD Global Telemedicine, Koninklijke Philips, CHI Health, United HealthCare Services, THA Group, Synzi.
The virtual care market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Virtual Care Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Virtual Care Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Virtual Care Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Virtual Care Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Virtual Care Market Size & Forecast, 2018-2028
4.5.1 Virtual Care Market Size and Y-o-Y Growth
4.5.2 Virtual Care Market Absolute $ Opportunity
Chapter 5 Global Virtual Care Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Virtual Care Market Size Forecast by Type
5.2.1 Hardware Devices
5.2.2 Software System
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Virtual Care Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Virtual Care Market Size Forecast by Applications
6.2.1 Pharmacies
6.2.2 Hospitals
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Virtual Care Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Virtual Care Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Virtual Care Analysis and Forecast
9.1 Introduction
9.2 North America Virtual Care Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Virtual Care Market Size Forecast by Type
9.6.1 Hardware Devices
9.6.2 Software System
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Virtual Care Market Size Forecast by Applications
9.10.1 Pharmacies
9.10.2 Hospitals
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Virtual Care Analysis and Forecast
10.1 Introduction
10.2 Europe Virtual Care Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Virtual Care Market Size Forecast by Type
10.6.1 Hardware Devices
10.6.2 Software System
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Virtual Care Market Size Forecast by Applications
10.10.1 Pharmacies
10.10.2 Hospitals
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Virtual Care Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Virtual Care Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Virtual Care Market Size Forecast by Type
11.6.1 Hardware Devices
11.6.2 Software System
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Virtual Care Market Size Forecast by Applications
11.10.1 Pharmacies
11.10.2 Hospitals
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Virtual Care Analysis and Forecast
12.1 Introduction
12.2 Latin America Virtual Care Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Virtual Care Market Size Forecast by Type
12.6.1 Hardware Devices
12.6.2 Software System
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Virtual Care Market Size Forecast by Applications
12.10.1 Pharmacies
12.10.2 Hospitals
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Virtual Care Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Virtual Care Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Virtual Care Market Size Forecast by Type
13.6.1 Hardware Devices
13.6.2 Software System
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Virtual Care Market Size Forecast by Applications
13.10.1 Pharmacies
13.10.2 Hospitals
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Virtual Care Market: Competitive Dashboard
14.2 Global Virtual Care Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Teladoc
14.3.2 Americal Well
14.3.3 AT&T
14.3.4 MDLIVE
14.3.5 AMD Global Telemedicine
14.3.6 Koninklijke Philips
14.3.7 CHI Health
14.3.8 United HealthCare Services
14.3.9 THA Group
14.3.10 Synzi
