Global On-Demand Healthcare Market to Witness Compound Annual Growth Rate of 24.8% over the Forecast Period; says Absolute Markets Insights

Global on-demand healthcare market has witnessed significant growth and is expected to witness a lucrative growth owing to increasing penetration of on-demand healthcare mobile applications. These user-friendly applications assists patients, irrespective of their ages by directing physicians or clinicians with patients information, such as patient’s name, address, email address, contact information and treatment requirements. On the basis of age group, global on-demand healthcare market is segregated into infants, adolescents, adults, and geriatrics. Adults segment is projected to hold the largest market share owing to increasing number of on-demand healthcare service requirements related to preventive care, including adult vaccines, smoking cessation, depression screening, and sexually transmitted infection (STI) screening.

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According to annual benchmarking report from the Urgent Care Association and Merchant Medicine, on-demand healthcare services are popular among adolescents and are identified as a driving force behind the growth of on-demand healthcare market. Baby boomers or geriatric population is also playing a significant role in the growth of the market by turning to urgent care facilities for same day appointments coupled with quality care required to manage their day-to-day medical necessities. On top of that, growing count of adults suffering from behavioral and mental health has led on-demand healthcare service providers in enabling AI-powered virtual medical consultations within developing countries. For instance, in 2018, mfine, an AI-powered, on-demand healthcare service provider enabled virtual medical consultation services in Hyderabad, India. mfine is constantly signing up with hospitals and over 100 doctors, enabling patients to consult doctors anytime and from anywhere.

Furthermore, growing need of well-child exams and vaccinations coupled with increasing number of physical checkups conducted by schools and universities across the globe is generating opportunities for global market participants in on-demand healthcare market to sign up with academic institutions for instant medical checkups and treatments. Such factors are playing crucial role and anticipating in the growth of on-demand healthcare market during the forecast period.

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The recent outbreak of COVID-19 pandemic has further affected economies across continents. Government bodies have imposed stringent lockdowns to prevent the spread of this infectious disease which has restrained patients to visit clinics, pharmacies or any other healthcare facility. These factors are anticipated to have positive impact on the growth of the on-demand healthcare market. Virtual consultation services and online prescriptions provided by market players such as Teladoc Health, Doctolib, MDLIVE Inc. and others are gaining high popularity along with high on-demand medicine services provided by these e-pharmacies. Thus, such factors are anticipated to drive the growth of global on-demand healthcare market in forecast years as the trend of online healthcare delivery is expected to prevail in post COVID-19 phase.

The detailed research study provides qualitative and quantitative analysis of on-demand healthcare market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• The global on-demand healthcare market was valued at US$ 822.51 Mn in 2018 and is anticipated to witness a compound annual growth rate of 24.8% over the forecast period

• Based on the services, urgent care services dominated the global on-demand healthcare market in 2018. This can be attributed to the focus of market participants to expand their global as well as regional footprints in order to cater the requirements of growing urgent care and primary care services, especially among millennial and geriatric population. In addition, increasing funding for on-demand healthcare companies to offer near-real-time and 24/7 primary care services is also contributing in the growth of urgent care and primary care services.

• The adult population held highest share of global on-demand healthcare market in 2018. Digital transformation is leading adults towards adopting state-of-the-art technologies on the go. This has increased the penetration of smartphones among the population aged between 18-35 years, which is driving the adoption of these services among the adult category.

• North America held the highest market share in global on-demand healthcare market in 2018, owing to increasing demand for instant healthcare treatments and practices that has led global major technology giants to enter into on-demand healthcare market, enabling corporates to meet doctors at low costs.

• Some of the players operating in the on-demand healthcare market are ALI HEALTH SDN. BHD, Almothalath Elajy Co., American Well, Doctor On Demand, Inc., Heal, HealthTap, Inc., Maple Corporation, NovoCura Tech Health Services, Pager, Inc., Rijuven Corp, Sentara Healthcare, SolvHealth, Techradius Pty Ltd, Teladoc Health, Inc., University of Washington and Vala amongst others.
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Global On-Demand Healthcare Market:

• By Services
o Urgent Care Services
o Primary Care Services
o Preventive Care Services
o Chronic Care Services
o Others

• By Age Group
o Infants
o Adolescents
o Adults
o Geriatric

• By Region
o North America
 U.S
 Canada
 Mexico
 Rest of North America
o Europe
 France
 The UK
 Spain
 Germany
 Italy
 Nordic Countries
 Denmark
 Finland
 Iceland
 Sweden
 Norway
 Benelux Union
 Belgium
 The Netherlands
 Luxembourg
 Rest of Europe
o Asia Pacific
 China
 Japan
 India
 New Zealand
 Australia
 South Korea
 Southeast Asia
 Indonesia
 Thailand
 Malaysia
 Singapore
 Rest of Southeast Asia
 Rest of Asia Pacific
o Middle East and Africa
 Saudi Arabia
 UAE
 Egypt
 Kuwait
 South Africa
 Rest of Middle East & Africa
o Latin America
 Brazil
 Argentina
 Rest of Latin America

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Contact Name: Shreyas Tanna

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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

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This release was published on openPR.