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Increasing adoption of IT in healthcare, growing geriatric population, and a rise in the prevalence of target diseases are driving the demand for the market.
— Emergen Research
VANCOUVER, BC, CANADA, May 10, 2022 /EINPresswire.com/ — The Global Virtual Diagnostics Market research report is a detailed document outlining the recent advancements and developments in the Virtual Diagnostics business sphere considering 2019 as the base year and 2020-2027 as the forecast timeline. The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale.
The global Virtual Diagnostics market is forecasted to be worth USD 1,512.2 Million by 2027, according to a current analysis by Emergen Research. The market for virtual diagnostics is growing due to an increase in the awareness level of early diagnosis and a rise in demand for affordable and accessible diagnostics. Rapid growth due to a rise in the adoption of IoT in the healthcare sector is also a contributing factor.
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Key Market Competitors Profiled in the Report:
IDx Technologies Inc.
ResApp Health Limited
The COVID-19 pandemic has spurred the growth of the industry. The imposition of social as well as physical distancing has driven the demand for a virtual diagnostic to limit the growth of coronavirus. Digital healthcare has emerged as a crucial technology amidst remote areas and rural populations.
However, certain factors, such as low level of accuracy and rise in privacy concerns amongst the population, are expected to drive the virtual diagnostic market. The technical breakthroughs in artificial intelligence and machine learning, coupled with the high level of adoption of smartphones across the globe, are also paving the way for virtual diagnostics.
The government is also encouraging key companies to provide cover for virtual healthcare services, such as e-visits, virtual check-ins, and communication. Market players are also investing in the development of technology to expand into the untapped market in emerging nations.
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Some Key Highlights from the Report
In November 2020, Vera Smart Healthcare announced the expansion by investing another USD 20 million to add over twenty new healthcare services. For the funding, the company has attained the backing of U.S. investors. The company planned to roll out remote health services for home-based diagnostics & tests, medication delivery, virtual doctor care, and nutrition consultation.
The Asia Pacific region is witnessing high growth owing to the presence of a high geriatric population. The adoption of smart technology in the healthcare sector will also impact the market positively.
Gastrointestinal virtual diagnostics is growing at a substantial pace as the number of gastrointestinal patients is exceedingly being propelled. Increasing incidences of pediatric gastroenterological disorders are also some of the key reasons for the demand for virtual diagnostics.
The hospital segment is increasingly adopting the technology to treat and consult patients located in remote areas. With overwhelmed staff, several hospitals are behind in the incorporation of IoT with their equipment, but recent developments are anticipated to increase funding to the healthcare sector, which in turn, will drive the demand of the virtual diagnostic market.
Type Outlook (Revenue, USD Billion; 2017-2027)
Gastrointestinal Virtual Diagnostics
Ophthalmology Virtual Diagnostics
Cardiology Virtual Diagnostics
Pathology Virtual Diagnostics
Others Virtual Diagnostics
End-Users Outlook (Revenue, USD Billion; 2017-2027)
Specialty Clinics and Ambulatory Surgical Centers
Others (Homecare and Research Institutes)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
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ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type & applications
Chapter 9: Current and Future Trends
Thank you for reading our report. Please get in touch with us for further queries about the report and our team will assist you according to your needs.
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Virtual Diagnostics Market Size Worth USD 1,512.2 Million by 2027