What is Online Medical?
Online Medical is an online service which allows the healthcare end-users to operate their health-related issue such as appointments through online registration. It is a more convenient approach going in the market through online, a way of life where consumers perform online transactions with safety. There are various leading providers who are promoting online medical services. For instance, Alibaba Health is promoting online medical services in more hospitals and also revealing some new more convenient services including medical treatment on credit, electronic medical treatment cards, face recognition, payment after treatment, electronic invoicing, and others. Alibaba is expanding Ailpay’s medical and healthcare services user base. Along with that the market players are also developing and connecting more quality medical institutions and also helping offline hospitals to carry out information technology upgrades to improve service standards and their operational efficiency. In FY 2018, In the digital era, over 72% of patients look for medical and aesthetic services online.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Online Care Group (United States), Nant Health (United States), Proteus Digital Health, Inc. (United States), Baidu (China), Alibaba (China), Flatiron Health (United States), Practice Fusion (United States), Apple (United States), Castlight Health (United States) and Google (United States) |
The study covers a detailed analysis segmented by key business segments i.e. and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Online Medical market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Online Medical market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Online Care Group (United States), Nant Health (United States), Proteus Digital Health, Inc. (United States), Baidu (China), Alibaba (China), Flatiron Health (United States), Practice Fusion (United States), Apple (United States), Castlight Health (United States) and Google (United States).
Market Overview:
Online health information platform AskDr has acquired Health Innovations, a group of medical doctors based in Singapore. AskDr serves as an online avenue for trusted medical advice and personalised health information. It enables patient-led discussions with doctors as moderators. The acquisition is a great opportunity for our platform to reach a wider audience and to provide even more people with access to accurate and up-to-date health information while further empowering doctors to dispel medical misinformation at scale.
There are various companies operating in this market, those companies are exploring in new geographical regions by investing in market growth strategic initiatives including mergers & acquisitions, expansions, investments, new solution launches, and others. There are various new market entrants are entering this industry to capture market growth Strategies.
Influencing Trend:
Increasing Number of New Start-Up Companies and High Availability of Telehealth and Telemedicine
Market Growth Drivers:
Rapid Technological Advancements and High Penetration of Smartphone, Along with Growth of Internet User in North America Region is Near About 8.2 Percent, Increasing Demand for the Personalization of Care and Rising Government Initiatives for the Convenience of the Patients Such as E-Health Governance
Challenges:
Advancement in Healthcare Industry and Increasing Number of New Health Research and New Health Treatments
Restraints:
Increasing Number of Telehealth Companies and Rapid Growth of the Thriving Telemedicine Industry
Opportunities:
High Concern Towards Illegal Online Pharmacies or Medical Equipment Providers Can Hamper the Growth of the Market, Rising Concern Towards Security and Privacy Seriously to Keep Patients Medical and Payment Information Safe and Lack of Patient and Caregiver Access to Patient Data
Key highlights of the Global Online Medical market Study:
CAGR of the market during the forecast period 2023-2030
In-depth information on growth factors that will accelerate the Online Medical market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Online Medical market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Online Medical Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Medical market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Online Medical market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Online Medical Providers, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.