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.
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 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.
The detailed market intelligence report on the Virtual Diagnostics market applies the best of both primary and secondary research to weighs upon the competitive landscape and the prominent market players expected to dominate the Virtual Diagnostics market for the forecast period, 2020 - 2027. The study not only scans through the company profile of the major vendors but also analyses their winning strategies to give business owners, stakeholders and field marketing personnel a competitive edge over others operating in the same space. A detailed evaluation of the major events such as acquisition and mergers, collaborations, product launches, new entrants, and technology advancements offer a complete overview of what the future of the Virtual Diagnostics market will be like in the years to come.
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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.
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.
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.
Key participants include AliveCor Inc., Eyenuk Inc., IDx Technologies Inc., Cardiologs Technologies, CapsoVision Inc., Olympus Corporation, Sight Diagnostics, ResApp Health Limited, Phelcom Technologies, and Medtronic Plc., among others.
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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)
Hospitals
Specialty Clinics and Ambulatory Surgical Centers
Others (Homecare and Research Institutes)
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Table of Content
Chapter 1. Methodology & Sources
1.1. Virtual Diagnostics Market Definition
1.2. Virtual Diagnostics Market Research Scope
1.3. Virtual Diagnostics Market Methodology
1.4. Virtual Diagnostics Market Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Virtual Diagnostics Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Virtual Diagnostics Market Segmentation & Impact Analysis
Continued…
