Virtual Care & Healthcare Delivery Market Size & Share, by Specialty (Cardiology, Gynecology, Neurology, Orthology, Dermatology); Delivery Mode (Telephonic, Call center); End-users (Hospitals, Clinics, Pharmacies) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3330
  • Published Date: Apr 03, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Virtual Care & Healthcare Delivery Market size is expected to reach USD 251 Billion by the end of 2036, growing at a CAGR of 28% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the virtual care & healthcare delivery was USD 13 Billion and the reason behind this growth is impelled by the growing number of patients that are suffering from life-associated chronic disease, along with the increase in the aging population with high usage of smartphones and internet. According to the World Health Organization, (WHO), the population aged 60 years and more was 1 billion in 2019, and this is expected to cross 2.1 billion by 2050.

Moreover, the increasing prevalence of various chronic and infectious diseases, and the benefits of virtual healthcare, such as saving time and money through offered discounts, prevention from getting infections at hospitals or clinics, and the option for a second opinion simultaneously, are expected to influence the market growth. According to the World Health Organization (WHO), Healthcare-associated infections (HAIs) affect 5 to 10% of patients in developed countries.


Virtual Care & Healthcare Delivery Market
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Virtual care & healthcare delivery Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing internet integration- The demand for telehealth and home healthcare increases as the interest and awareness of virtual care increases. The increased availability of high-speed and reliable internet connectivity along with the growing acceptance of digital technology are a driving factor for this market.
  • Rising demand for personalized and convenient healthcare- Personalized healthcare is becoming a necessity for many patients, and with the increasing availability of technology, more healthcare providers are offering personalized, on-demand care.
  • Increased cost of healthcare- The price of healthcare is on the rise, as the global population ages and healthcare systems around the world face funding issues. With the availability of technology and the increasing adoption of digital solutions, Virtual Acre has the potential to reduce costs and improve the accessibility of care.
  • Growing awareness of telework and telemarketing, as the rise of remote work and teleworking has also driven the growth of telehealth and remote healthcare services, as more people have access to high-speed, reliable internet connectivity and portable devices.

Challenges

  • Limited availability of skilled professionals: The availability of skilled professionals such as doctors and nurses is limited, which may limit the ability to provide timely and adequate care.
  • Limited accessibility: The availability of high-quality and reliable connectivity, which is essential for virtual care, may be limited in certain regions and countries.
  • Concerns over data privacy and security: Concerns over data privacy and security may limit the adoption of virtual care and healthcare delivery solutions.

Virtual care & healthcare delivery Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~28%

Base Year Market Size (2023)

~ USD 13 Billion

Forecast Year Market Size (2036)

~ USD 251 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Virtual Care & Healthcare Delivery Segmentation

Specialty (Cardiology, Gynecology, Neurology, orthology, Dermatology)

The cardiology segment is estimated to gain a robust market share of 63% in the coming years owing to a surge in the prevalence of cardiovascular diseases across the globe due to unhealthy lifestyles and changes in dietary habits. According to a report by the World Heart Federation (WHF), deaths from cardiovascular disease (CVDs) have shown a global increase from 12.1 million in 1990 to 20.5 million in 2021. This increased number in the last three decades was mainly due to an increase in aging and growing population. On the other hand, the CVD death rate fell globally from 354.5 deaths per 100,000 people in 1990 to 239.9 deaths per 100,000 people in 2019.

Delivery Mode (Video consulting, Telephonic, Messaging, KIOSKS, Call center)

The video consulting segment is set to garner a notable share shortly and is likely to remain the second largest segment in the delivery mode of the virtual care & healthcare delivery market as this has the potential to enable fast, convenient, and cost-effective access to healthcare services. Video consulting allows patients to get access to healthcare services without the need to physically go, which can be especially beneficial for people with disabilities or mobile issues.

End-users (Hospitals, Clinics, Pharmacies)

The hospitals segment in virtual care & healthcare delivery market is estimated to hold a noteworthy share as they provide a reliable and trusted platform for virtual care services which is important for such sensitive and critical matters as health. They are well-connected to the healthcare system while providing a network that allows for faster and more seamless access to healthcare services that have a wide geographical presence.

Our in-depth analysis of the global market includes the following segments:

          Specialty

  • Cardiology
  • Gynecology
  • Neurology
  • Orthology
  • Dermatology

          Delivery Mode

  • Video Consulting
  • Telephonic
  • Call Center

          End-users

  • Hospitals
  • Clinics
  • Pharmacies

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Virtual Care & Healthcare Delivery Industry- Regional Synopsis

North American Market Forecast

The virtual care & healthcare delivery market in North America is estimated to have the largest share of approximately 46% in 2023, propelled by the growing governmental investments in this market. According to our analysis the total investment, in virtual care was worth USD 57 billion in 2021, indicating a YoY increase of 137%. Moreover, with the increase in research and development for producing more efficient and reliable virtual care and healthcare delivery platforms, these demands are expected to fuel the demand for virtual care & healthcare delivery in the region.

APAC Market Statistics

The Asia Pacific virtual care & healthcare delivery market is estimated to be the second largest, during the forecast timeframe led by an increase in the adoption of virtual healthcare models, along with the ever-expanding geographical reach of the companies in this industry as this causes a surge in the number of virtual healthcare start-ups along with the growing demand in service launches. For instance, according to the report by the US Department of Health & Human Services (HHS) in February 2022, HHS awarded around USD 55 million to increase virtual healthcare access and quality through community healthcare centers.

Research Nester
Virtual Care & Healthcare Delivery Market Regional
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Companies Dominating the virtual care & healthcare delivery Landscape

top-features-companies
    • Allscripts Healthcare Solutions Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Honeywell International Inc.
    • McKesson Corp.
    • OBS Medical
    • Medtronic PLC
    • Koninklijke Philips NV
    • AMD Global Telemedicine Inc.

In-the-news

In The News

  • CVS Health, launched a telehealth service for their CVS Caremark members along with an on-demand virtual care service from their primary care providers along with urgent care, behavioral care, and chronic care management services as well.
  • TalktoMira, Inc. launched their four new virtual care services for their members through the Mira Health App, using which the members would be able to access virtual urgent care 24/7/365 and connect with the provider from anywhere in the United States while avoiding disruptive trips to the care sites and long wait times in offices.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 3330
  • Published Date: Apr 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increase in the geriatric population along with internet integration are the major factors driving the growth of the market.

The market size of virtual care & healthcare delivery is anticipated to attain a CAGR of 28% over the forecast period, i.e., 2024-2036.

The major players in the market are Honeywell International Inc., McKesson Corp., OBS Medical, Medtronic PLC, Koninklijke Philips NV, AMD Global Telemedicine Inc., and others.

The cardiology segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Virtual Care & Healthcare Delivery Market Report Scope
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