Virtual Healthcare Delivery Market Trends

  • Report ID: 3330
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Virtual Healthcare Delivery Market Trends

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 Healthcare Delivery Market: Key Insights

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.74 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.31 in 2008 to USD 1,110.84 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Base Year

2024

Forecast Year

2025-2037

CAGR

28%

Base Year Market Size (2024)

USD 13 Billion

Forecast Year Market Size (2037)

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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Browse Key Market Insights with Data Illustration:


Author Credits:  Radhika Pawar


  • Report ID: 3330
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of virtual healthcare delivery is estimated at USD 19.57 billion.

The virtual healthcare delivery market size was over USD 16.03 billion in 2024 and is poised to exceed USD 381.06 billion by 2037, witnessing over 27.6% CAGR during the forecast period i.e., between 2025-2037. The increase in the geriatric population along with internet integration will drive the market growth.

North America industry is likely to hold largest revenue share of 40% by 2037, impelled by early adoption of technologies and the best health infrastructure in the region.

The major players in the market include Allscripts Healthcare Solutions Inc., Honeywell International Inc., McKesson Corp., OBS Medical, Medtronic PLC, Koninklijke Philips NV, AMD Global Telemedicine Inc.
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