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Online Doctor Consultation Market by Geography and Product - Forecast and Analysis 2020-2024

  • Published: Jul 2020
  • Pages: 120
  • SKU: IRTNTR43469
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The online doctor consultation market share is expected to increase by USD 3.80 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 7%.

This online doctor consultation market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers online doctor consultation market segmentation by product (services and software) and geography (North America, Europe, APAC, MEA, and South America). The online doctor consultation market report also offers information on several market vendors, including American Well Corp., Babylon Healthcare Services Ltd., Dictum Health Inc., Doctor Anywhere Pte. Ltd., Doctor On Demand Inc., MDLIVE Inc., Orane Healthcare India Pvt. Ltd., Practo Technologies Pvt. Ltd., Teladoc Health Inc., and Vidyo Inc. among others.

What will the Online Doctor Consultation Market Size be During the Forecast Period?

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Online Doctor Consultation Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing adoption of remote patient monitoring is notably driving the online doctor consultation market growth, although factors such as the privacy and data security concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online doctor consultation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Online Doctor Consultation Market Driver

One of the key factors driving growth in the online doctor consultation market is the increasing incidence and prevalence of infectious diseases. The increasing incidence of infectious diseases, especially respiratory diseases, is driving the demand for devices that protect people across the globe, thereby reducing the mortality rate from these diseases. COVID-19, severe acute respiratory syndrome (SARS), Ebola virus disease, and the Middle East respiratory syndrome are examples of such respiratory diseases. The incidence of COVID-19 has increased significantly across the globe. Patients are largely being told to stay home, especially when they feel unwell to avoid the spread of the coronavirus in doctors’ offices. In such situations, online doctor consultation services can mitigate the risk of unnecessary exposure during pre-screening and ensure continuity of care to patients without compromising the speed and quality of care. Furthermore, patients requiring treatment for chronic conditions can avail doctor consultation services without exposing themselves to the possible risk of transmission of diseases.

Key Online Doctor Consultation Market Challenge

The privacy and data security concerns will be a major challenge for the online doctor consultation market during the forecast period. Telehealth services such as online doctor consultation have become an effective alternative for the traditional healthcare delivery method. Technological advancements have widened healthcare providers’ scope in offering better healthcare services to patients across the globe. The collection and aggregation of data such as patients’ health details and clinical information are integral parts of providing patient care with telehealth technology. Maintaining security and confidentiality is an integral part of the telehealth ecosystem as it enables in building trust among healthcare providers and patients. Unauthorized access of medical data; data theft, breaches, and hacking; and loss of data during the transmission of patient data on cloud-based networks in the telehealth industry by unauthorized people or data hackers are the major threats. Such threats are expected to decrease the uptake of telehealth services to a certain extent. This, in turn, is expected to hamper the growth of the global online doctor consultation market during the forecast period.

This online doctor consultation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Who are the Major Online Doctor Consultation Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • American Well Corp.
  • Babylon Healthcare Services Ltd.
  • Dictum Health Inc.
  • Doctor Anywhere Pte. Ltd.
  • Doctor On Demand Inc.
  • MDLIVE Inc.
  • Orane Healthcare India Pvt. Ltd.
  • Practo Technologies Pvt. Ltd.
  • Teladoc Health Inc.
  • Vidyo Inc.

 

This statistical study of the online doctor consultation market encompasses successful business strategies deployed by the key vendors. The online doctor consultation market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The online doctor consultation market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Online Doctor Consultation Market?

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37% of the market’s growth will originate from Europe during the forecast period. Germany, UK, and France are the key markets for online doctor consultation in Europe. Market growth in this region will be faster than the growth of the market in the North American, MEA and South American regions.

The increase in the prevalence of chronic diseases, the rise in technological advancements, the growth in healthcare expenditure, and the presence of prominent vendors in the region will facilitate the online doctor consultation market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Online Doctor Consultation Market?

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The online doctor consultation market share growth by the services segment will be significant during the forecast period. Advances in technology and improvements in internet services are the major factors contributing to the rise in the adoption of online doctor consultation services by healthcare providers and patients. The rise in the uptake of online doctor consultation services by healthcare providers has increased the demand for a comprehensive range of clinical and non-clinical telehealth services in the healthcare industry.

This report provides an accurate prediction of the contribution of all the segments to the growth of the online doctor consultation market size and actionable market insights on post COVID-19 impact on each segment.

 

Online Doctor Consultation Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 7%

Market growth 2020-2024

$ 3.80 billion

Market structure

Fragmented

YoY growth (%)

6.13

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

Europe at 37%

Key consumer countries

US, Germany, Canada, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

American Well Corp., Babylon Healthcare Services Ltd., Dictum Health Inc., Doctor Anywhere Pte. Ltd., Doctor On Demand Inc., MDLIVE Inc., Orane Healthcare India Pvt. Ltd., Practo Technologies Pvt. Ltd., Teladoc Health Inc., and Vidyo Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Online Doctor Consultation Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive online doctor consultation market growth during the next five years
  • Precise estimation of the online doctor consultation market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the online doctor consultation industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of online doctor consultation market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Services - Market size and forecast 2019-2024
    • Software - Market size and forecast 2019-2024
    • Market opportunity by Product

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • APAC - Market size and forecast 2019-2024
      • MEA - Market size and forecast 2019-2024
      • South America - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Volume drivers – Demand led growth
      • Market challenges
      • Market trends

      Vendor Landscape

      • Competitive scenario
      • Vendor landscape
      • Landscape disruption
      • Industry risks

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • American Well Corp.
      • Babylon Healthcare Services Ltd.
      • Dictum Health Inc.
      • Doctor Anywhere Pte. Ltd.
      • Doctor On Demand Inc.
      • MDLIVE Inc.
      • Orane Healthcare India Pvt. Ltd.
      • Practo Technologies Pvt. Ltd.
      • Teladoc Health Inc.
      • Vidyo Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The online doctor consultation market growth will increase by $3804.93 million during 2019-2024.
      The online doctor consultation market is expected to grow at a CAGR of 7.18% during 2019-2024.
      Technavio has segmented the online doctor consultation market by product (Services and Software) and geographic (North America, Europe, APAC, MEA, and South America).
      American Well Corp., Babylon Healthcare Services Ltd., Dictum Health Inc., Doctor Anywhere Pte. Ltd., Doctor On Demand Inc., MDLIVE Inc., Orane Healthcare India Pvt. Ltd., Practo Technologies Pvt. Ltd., Teladoc Health Inc., Vidyo Inc. are a few of the key vendors in the online doctor consultation market.
      Europe will register the highest growth rate of 37.12% among the other regions. Therefore, the online doctor consultation market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the online doctor consultation market growth are:
      • Increasing incidence and prevalence of infectious diseases
      The online doctor consultation market vendors should focus on grabbing business opportunities from the services segment as it accounted for the largest market share in the base year.
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