Industry Background:
According to the Centers for Disease Control and Prevention, in the duration of the first quarter of 2020, the number of telehealth visits increased by 50% in the United States, as compared to the previous year. And by the second quarter of 2020, this ratio reached 154% 2020. In the first quarter of 2020, most virtual visits encounter patient's conditions other than COVID-19. In 2020, most telehealth encounters are from adults age between 18-49 years and majorly from female patients. The major opportunity area behind the growth of virtual health are technology development, increase in consumer awareness, changing state laws, and others.This growth is primarily driven by Increase in Social Distancing Norms Because of COVID-19 Pandemic
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Attributes | Details |
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Study Period | 2018-2032 |
Base Year | 2024 |
Forecast Period | 2025-2032 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Teladoc Health Inc. (United States), AMC Health (United States), Telespecialists Llc (United States), GlobalMed (United States), Zipnosis (United States), American Well Corporation (United States), AMD Global Telemedicine (United States), Cerner Corporation (United States), Avizia (United States), General Electric Company (United States) and AT&T (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Feb 2021, a leading virtual health provider HELIOS announced its partnership with Sandata Technologies to enhance the care experience for Medicaid and Medicare populations across the country. Through this partnership, they expect to create a bi-directional flow of data between HELIOS and Sandata’s point-of-care solution for home care providers.The companies operating in these industries are focusing more towards on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The leading providers are heavily focusing on securing an important position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet high market share, and developing socially responsible business company are identifying various strategic pillars such as mergers & acquisitions, new product launches, product enhancement, and others.
Influencing Trend:
Rapid Advancement in Telehealth Services, it Emerges as a Game Changer in the Healthcare Industry
Market Growth Drivers:
Increase in Social Distancing Norms Because of COVID-19 Pandemic and Hasty Enlargement in Technology Such As Artificial Intelligence
Challenges:
Increase in Security Concern and The Rise in Telehealth Restriction and Regulations
Restraints:
Lack of Legislation Policies across Telehealth Industry and Less Consumer Awareness in Underdeveloped Regions
Opportunities:
Development in Digital Therapeutics, Advancement in Synchronous Telemedicine and Asynchronous Telemedicine and Growing Demand across the United States Region
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Virtual Health Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Virtual Health Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Virtual Health players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Virtual Health Study Sheds Light on
The Virtual Health Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Virtual Health industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Virtual Health industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.