U.S. Virtual Visits Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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U.S. Virtual Visits Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : December, 2020 | Healthcare IT | PPT format

Report Digest


U.S. Virtual Visits market: Overview

The U.S. virtual visits market is likely to expand at an exponential growth rate during the forecast timeframe, from 2020 to 2029. Surging cases of virtual visits have been observed during the outbreak of global pandemic, Covid-19, which is likely to augur well for the market in the forthcoming years. In addition, introduction of high-end audio-video technologies are anticipated to foster growth of the U.S. virtual visits market. A phenomenal rise in the use of smartphones together with the augmented adoption of latest communication technologies, such as 4G/5G technologies is further driving demand of the product.

Technological progress achieved in the virtual space is likely to play an important role for the market in review.  These breakthroughs in the field of technology are generating a plethora of opportunities for the women and men living in urban as well as rural areas to gain access for several health conditions. Virtual spaces can be utilized for treating conditions like irritable bowel syndrome, metabolic syndromes, yeast infections, migraines, fatigue, prostatitis, chronic illness, erectile dysfunction, and birth control. Ability to treat so many diseases sans any physical visits is likely to make drive the growth of the U.S. virtual visits market.

Service type, commercial plan type, age group, gender, and region are the five key parameters based on which the U.S. virtual visits market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.

U.S. Virtual Visits market: Notable Developments

The U.S. virtual visits market has witnessed prominent developments in the last few years. A market development that has played an influential role in determining the future course of the market is mentioned below:

  • In July 2020, US-based prominent virtual healthcare company, Teladoc Health, Inc. acquired InTouch Health, a leading telehealth vendor. The acquisition is expected to provide support in developing comprehensive strategies for virtual visits and telemedicine.

Some of the key players in the U.S. virtual visits market comprise the below-mentioned:

  • Zipnosis, Inc.
  • PlushCare, Inc.
  • American Well Corporation
  • eVisit Telemedicine Solution
  • Teladoc, Inc.
  • Vidyo, Inc.

U.S. Virtual Visits market: Key Trends

The following drivers, restraints, and opportunities characterize U.S. virtual visits market over the assessment period, from 2019 to 2029.

Market to Ride on the Back of Technological Progress Made in the Field

In addition, rising demand for personalized and specialty care, particularly in the far off areas, is estimated to emerge as growth factor for the U.S. virtual visits market over the forecast timeframe, from 2019 to 2029. These services assist patients establish a connection between specialty experts and certified medical professionals. In addition, augmented penetration of internet coupled with recent progress made in video conferencing systems in the US is expected to work in favor of the U.S. virtual visits market in the near future. Considerable progress has been made in the 5G or 4G technology and their respective networks is likely to propel development of the U.S. virtual visits market.

Increased awareness about the advantages of this service is likely to open up plethora of opportunities for the market in the years to come. American Medical Association published data on virtual visits in February 2020, which reflects doubling of adoption of virtual / tele visits by physicians from 2016 to 2019.

U.S. Virtual Visits market: Geographical Analysis

The virtual visits market in the US is likely to observe immense growth due to the presence of advanced infrastructure and increased spending on healthcare. In addition, rapid adoption of healthcare technologies in the country is another factor for immense growth of the regional market.

The U.S. virtual visits market is segmented as:

Service Type

  • Cold and Flu management
  • Allergies
  • Urgent Care
  • Preventive Care
  • Chronic Care management
  • Behavioral Health

Commercial Plan Type

  • Small Groups
  • Self-funded/ASO group plans
  • Medicaid and Medicare

Age Group

  • Age 18-34
  • Age 35-49
  • Age 50-64
  • Age 65 and above

Gender

  • Male
  • Female

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?