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Virtual Visits Market Future-Proofing Your Business with Market Size Growth Strategies

06-28-2023 07:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Report Ocean

Virtual Visits Market Future-Proofing Your Business with

The Global Virtual Visits Market, valued at approximately USD $ billion in 2021, is projected to experience a healthy growth rate of more than $ during the forecast period from 2022 to 2029. Virtual visits in healthcare refer to digital consultations between patients and healthcare providers using videoconferencing and other digital means.

These virtual visits enable discussions on health concerns, medical history reviews, and treatment plan development without the need for in-person meetings. The market demand for virtual visits is driven by various factors, including government initiatives supporting the adoption of virtual care services, improved quality and safety of telehealth applications, and growing consumer preference for virtual care solutions.

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One of the significant drivers of virtual visits is the increasing geriatric population, which is more susceptible to chronic diseases. As individuals age, they often require more frequent healthcare visits but may face mobility and transportation challenges in attending in-person appointments. Virtual visits offer a convenient and accessible alternative for older adults to receive healthcare services from the comfort of their homes. The World Health Organization (WHO) estimates that the global population aged 60 years and above is projected to reach 2 billion by 2050, emphasizing the importance of virtual visits in catering to the healthcare needs of the elderly population.

Technological advancements in telehealth and the need to expand healthcare access present lucrative opportunities for market growth. However, maintaining patient information confidentiality and lack of awareness regarding product availability pose challenges to the market's growth throughout the forecast period.

The key regions considered for the Global Virtual Visits Market study are Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America currently dominates the market in terms of revenue, driven by technological advancements in digital healthcare services, applications in medical education, and the growing need to expand healthcare access. The Asia Pacific region is expected to exhibit the highest compound annual growth rate (CAGR) during the forecast period due to factors such as a shortage of physicians, a rising geriatric population base, and an increasing prevalence of chronic diseases.

Major market players mentioned in the report include Maven, Inc., Teladoc Health, Inc., Doctor on Demand, Inc., Zipnosis, HealthTap, Inc., Allscripts Healthcare LLC, AMD Global Telemedicine Inc., BioTelemetry Inc., Cerner Corporation, and Honeywell International Inc.

Recent developments in the market include the launch of Philips Virtual Care Management by Royal Philips in March 2023.

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This comprehensive portfolio of solutions and services aims to assist health systems, payers, providers, and employer groups in motivating and connecting with patients remotely, reducing pressure on hospital staff, and managing chronic diseases more effectively.

The Global Virtual Visits Market Report covers historical data from 2019 to 2021 as a basis for estimation in 2021, with a forecast period from 2022 to 2029. The report provides revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends. It includes segments based on service type, patient group, and region. The regions covered in the study are North America, Europe, Asia Pacific, Latin America, and the Rest of the World.

The objective of the study is to define market sizes for different segments and countries in recent years and forecast their values for the coming years. The report incorporates both qualitative and quantitative aspects of the industry and provides information on driving factors, challenges, opportunities in micro markets, competitive landscape analysis, and product offerings of key players.

The detailed segments and sub-segments of the market are as follows:

By Service Type:

Cold and Flu management
Allergies
Urgent Care
Preventive Care
Chronic Care management
Behavioral Health
By Patient Group:

Paediatric
Adults
Geriatric

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.
► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.
► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.
► Company History: The development of predominant occasions associated to the company.
► Main merchandise and services: A listing of the company's fundamental products, services, and brands.
► Main Competitors: A listing of the company's fundamental competitors.
► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

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About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean is the world's leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.

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