Virtual Visits Market to Reach Over $56 Billion by 2027 - Arizton

According to Arizton's latest research report, virtual visits market is expected to grow at a CAGR of over 27% during 2022-2027. Key vendors are forming collaborations and partnerships with software developers, which will help in the development of innovative services for end-users. Furthermore, the rising number of smartphone users and wearable/connected medical device users will positively impact the growth of the global virtual visits market in the upcoming years.
The US is a leader in the adoption of virtual visits because it holds the top position in digitalization. The COVID-19 pandemic compelled the US healthcare system to quickly switch to virtual care, which would not have been possible if it was not a leader in digitalization.

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The development of the telecommunication system is increasing the scope of virtual care services immensely. The introduction of virtual visits has led to cost-effective treatments, the adoption of home healthcare services, and low expenditure on infrastructure developments. Virtual visit consultations have revolutionized the healthcare industry as they reduce hospital visits, patient wait time, and decrease the physical discomfort caused to patients. The increasing target population is one of the major factors increasing the demand for virtual visits. For instance, Virtual visits are seen as one of the useful tools for continuous monitoring of chronic conditions and treatments, and this has seen better adoption among chronic disease patients. The increase in technological advances and high penetration of internet connectivity will increase the adoption of virtual visits in the future.
The virtual visits market is crowded with many vendors who offer a broad range of software, applications, and services to end-users.

The consolidation in the virtual visits market is continuing, with many vendors indulging in strategic acquisitions and collaborations to enter the virtual care space to extend their market presence. Strategic acquisitions and partnerships have become quite common in the virtual visits market. Virtual visit vendors are primarily engaged in M&As to offer one-stop solutions for healthcare centers and patients. For instance, Teladoc, one of the leading telehealth companies, focuses on integrating and acquiring companies to gain access to newer markets and increase its market share in the US and in other regions, such as Europe, Asia, and Latin America. Key vendors are forming collaborations and partnerships with software developers, which will help in the development of innovative services for end-users.

Know more about the market: https://www.arizton.com/market-reports/virtual-visits-market

MARKET SEGMENTATION
Component:
• Service
• Hardware
Application:
• General Consultation
• Behavioral Health
• Chronic Care Management
• Urgent Care
• Others
Patient Group
• Adults
• Paediatric
Geography
• North America
o US
o Canada
• Europe
o UK
o France
o Germany
o Italy
o Spain
• APAC
o Japan
o China
o Australia
o South Korea
o India
• Latin America
o Brazil
o Mexico
o Argentina
• The Middle East and Africa
o Turkey
o UAE
o South Africa
Major Vendors
• AMD Global Telemedicine
• American Well
• Koninklijke Philips
• Teladoc Health
Other Prominent Vendors
• Banner Health
• Beato
• Blue Sky MD
• Careclix
• Cerner
• CHI Health
• Chiron Health
• CVS Health
• Dialogue
• Doctor On Demand
• Doxy(.) ME
• Eagle Telemedicine
• Edgemed Healthcare
• eVisit
• HealthTap
• Health at Hand
• HealthHero
• Instapract
• MDLive
• MediBuddy
• MFine
• NeuroSynaptic Communications
• Nextcare
• Optum
• Plushcare
• Piedmont Healthcare
• Practo
• RO
• Reecuro Health
• SteadyMD
• SOC Telemed
• TRUDOC Healthcare
• Vidyo
• VSee
• Walmart Health Virtual Care
• Zipnosis

Table of Content

1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY COMPONENT
4.3.2 MARKET SEGMENTATION BY APPLICATION
4.3.3 MARKET SEGMENTATION BY PATIENT GROUP
4.3.4 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 INTRODUCTION
7.1 OVERVIEW

8 PREMIUM INSIGHTS
8.1 OVERVIEW
8.1.1 VENDOR ACTIVITIES IN THE MARKET
8.1.2 FACTORS CONTRIBUTING TO MARKET GROWTH
8.1.3 IMPACT OF COVID-19 PANDEMIC
8.1.4 MARKET ANALYSIS BY SEGMENTATION

9 MARKET OPPORTUNITIES & TRENDS
9.1 EMERGING SMART INTEGRATED DEVICES
9.2 INCREASING GROWTH OF VIRTUAL VISITS ACTIVITIES
9.3 INCREASING STRATEGIC PARTNERSHIPS & MERGERS/ACQUISITIONS

10 MARKET GROWTH ENABLERS
10.1 HIGHER REIMBURSEMENTS BY INSURERS AND GOVERNMENTS FOR VIRTUAL VISITS
10.2 LARGER TARGET POOL OF PATIENTS REQUIRING VIRTUAL VISITS
10.3 RISE OF VIRTUAL HOSPITALS

11 MARKET RESTRAINTS

11.1 LACK OF ACCESS TO FIXED INTERNET SERVICE
11.2 LEGAL BARRIERS & LACK OF STANDARD REGULATIONS FOR VIRTUAL VISITS
11.3 DATA SECURITY AND PRIVACY RISKS

12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.2.1 COMPONENT
12.2.2 APPLICATION
12.2.3 PATIENT GROUP
12.2.4 GEOGRAPHY
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY

13 COMPONENT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 SERVICE
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.4 HARDWARE & SOFTWARE
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY GEOGRAPHY

14 APPLICATION
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 GENERAL CONSULTATION
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 BEHAVIORAL HEALTH
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.5 CHRONIC CARE MANAGEMENT
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.5.3 MARKET BY GEOGRAPHY
14.6 URGENT CARE
14.6.1 MARKET OVERVIEW
14.6.2 MARKET SIZE & FORECAST
14.6.3 MARKET BY GEOGRAPHY
14.7 OTHERS
14.7.1 MARKET OVERVIEW
14.7.2 MARKET SIZE & FORECAST
14.7.3 MARKET BY GEOGRAPHY

15 PATIENT GROUP
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 ADULTS
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.3.3 MARKET BY GEOGRAPHY
15.4 PEDIATRIC
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY GEOGRAPHY

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