Virtual Visits Market Share, Size, Trends, Industry Analysis Report, By Service Type (Allergy & Immunology, Urgent Care, Preventive Care, Chronic Care Management, Behavioural Health, and Others); By Age Group; By Region; Segment Forecast, 2023 - 2032
- Published Date:Apr-2023
- Pages: 114
- Format: PDF
- Report ID: PM3159
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global virtual visits market was valued at USD 16.56 billion in 2022 and is expected to grow at a CAGR of 27.5% during the forecast period. The ever-rising and changing technology and very fast adoption rates by the global population for variety of smart devices like smartphones and laptops along with the continuous innovation and development in telehealth applications and features implied by key companies around the world, are primary factors fueling the growth of the global market.
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The landscape of the health systems has been changing and shifting continuously with apps and devices bringing caregivers and patients more closure virtually, which is not just creating growth opportunities for technology to develop but also for the patients in the remotest locations, where no functional hospitals or care centers are available.
For instance, in August 2022, Enghouse Vidyo, announced the launch of its new virtual healthcare platform. Vidyo is expanding its product portfolio with a wide array of innovations and an extension of its partnership with the ViTel Net. The new solution is designed to allow direct to patient virtual visits simpler and more efficient.
In the recent years, the adoption rate of telehealth or virtual visits is increasing drastically mainly in the radiology, cardiology, online consultation, and behavioral health along with the growing support towards the electronic intensive care units by several governments across the globe, that enables remote patient monitoring through two-way cameras, electronic devices, and high-speed internet are likely to open significant market growth opportunities in the near future.
The outbreak of the COVID-19 pandemic has positively impacted the growth of the virtual visits market. The rapid spread of the deadly coronavirus, have forced people to shift to virtual visits for their medical and behavioral care due to higher convenience, ease of scheduling, and can avoid crowding by waiting in rooms. In the start of the pandemic, the number of in-person visits fell down drastically, while virtual visits have seen a tremendous growth, even post-pandemic, it is anticipated that around 83% of patients will further use virtual care.
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Industry Dynamics
Growth Drivers
The rapid surge in the number of government initiatives for telehealth and digitalization of healthcare systems especially in low and medium-sized economies across the globe along with the growing incorporation of electronic intensive care units are key factors driving the global virtual visits market growth. Moreover, the extensive surge of application in medical education and rise in the aging population globally are further anticipated to fuel the global market growth over the coming years.
In addition, increasing popularity of remote monitoring and AI-based triage tools and high preferences for next-generation data sharing and interoperability solutions developed by key market companies and higher implementation on the enhancement of integrated software & hardware or connected devices to further improve the user virtual care experience, is also expected to boost the market growth over the study period.
Report Segmentation
The market is primarily segmented based on service type, age group and region.
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By Service Type |
By Age Group |
By Region |
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Behavioural health segment is expected to witness fastest growth over the forecast period
The segment growth is mainly driven by rapid increase in the demand and need for virtual visits for variety of conditions including anxiety, depression, LGBTQ counselling, and wide range of mental health issues. In addition, an extensive rise in the popularity of online virtual care during the pandemic period, as significant number of patients were suffering from depression and anxiety, has resulted in higher adoption and growth of the segment market.
The chronic care management segment led the global market in 2022, and is likely to retain its position throughout the study period. The rise in the geriatric population around the world and increase in the prevalence of variety of chronic diseases including cancer, heart diseases, and others coupled with the growing popularity of chronic care management owing to the integration of IT solutions are among the key factors influencing the global market growth.
15-30 years age group segment accounted for largest market share in 2022
The rapidly increasing smartphone penetration and number of internet users in this age group, and a steady incline in the number of mental health issues along with the growing number of people reporting several mental issues like anxiety and depression due to high work pressure and inefficient work-life balance, are primary factors influencing the market growth.
However, the 31-45 years age group segment is exhibit fastest growth rate during the anticipated period due to the rapidly increasing prevalence of chronic illness such as diabetes, hypertensions, cardiovascular diseases, among others. In addition, increased awareness among people regarding the benefits and merits associated with the virtual visits such as lower waiting time due to pre-scheduling & decreased chances acquiring hospital borne infections, & ease of process as compared to others, are further expected to boost the segment growth over the coming years
North America region dominated the global market in 2022
The growth of the regional market can be attributed to the availability of favourable health reimbursement, high preferences for teleconsultation, and robust presence of key market players in countries like US and Canada. In addition, the regional market growth is expected to be driven by the growth of various cloud-based apps and platforms and appearance of several new start-ups creating and supplying cutting-edge solutions along with the growing reach of advanced healthcare and medical support in rural and distant areas.
Furthermore, the Asia Pacific region is expected to emerge at fastest growth rate over the study period, on account of growing digitalization and development and improvement of digital healthcare systems in emerging countries like India and China along with the high adoption of various smart devices including phones and tablets. Moreover, growing efforts by major healthcare organizations in APAC countries towards the deployment and integration of advanced virtual care services through several developing strategies, is also likely to have a positive impact on the market growth.
For instance, in November 2022, Manipal Hospitals, partnered with the Google Cloud, with an aim to leverage technology in offering tele-consultation services within India. Hospital chain will use the tele-health platform of Amwell to offer effective virtual visits & remote monitoring of the concerned patients.
Competitive Insight
Some of the major players operating in the global market include American Well, Teladoc Health, Doctor on Demand, PlushCare, VeeOne Health, MEDITECH, Blue Sky Telehealth, SOC Telemed, CVS Health, Cisco Systems Inc., Cerner Corporation, Eagle Telemedicine, Honeywell International Inc., McKesson Corporation, OBS Medical Ltd., HealthTap Inc., and Allscripts Healthcare Solutions.
Recent Developments
- In September 2022, OSMIND announced the launch of its platform for virtual visits for in-demand mental health conditions. The new virtual visit feature introduced by the company will help clinicians to expand care in numerous settings with the built-in Zoom Video technology.
- In November 2022, Amazon, introduced its new virtual medical care in 32 different states named Amazon Clinic. The new service is mainly intended for common and straight-forward health needs, enabling a list of 20 different conditions, ranging from sinusitis to the seasonal allergies.
Virtual Visits Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 21.07 billion |
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Revenue forecast in 2032 |
USD 187.88 billion |
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CAGR |
27.5% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Service Type, By Age Group, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
American Well, Teladoc Health, Doctor on Demand, PlushCare, VeeOne Health, MEDITECH, Blue Sky Telehealth, SOC Telemed, CVS Health, Cisco Systems Inc., Cerner Corporation, Eagle Telemedicine, Honeywell International Inc., McKesson Corporation, OBS Medical Ltd., HealthTap Inc., and Allscripts Healthcare Solutions. |
FAQ's
Key companies in virtual visits market are American Well, Teladoc Health, Doctor on Demand, PlushCare, VeeOne Health, MEDITECH, Blue Sky Telehealth, SOC Telemed, CVS Health, Cisco Systems Inc.
The global virtual visits market expected to grow at a CAGR of 27.5% during the forecast period.
The virtual visits market report covering key segments are service type, age group and region.
Key driving factors in virtual visits market are growing consumer preference for virtual care solutions.
The global virtual visits market size is expected to reach USD 187.88 billion by 2032.
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