Technology

Online Doctor Consultation Market to Grow by USD 38.87 Billion from 2024-2028, Driven by Rising Infectious Diseases and AI-Driven Market Transformation – Technavio

Published

3 weeks ago

November 5, 2024

NEW YORK, Nov. 5, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global online doctor consultation market size is estimated to grow by USD 38.87 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 29.6% during the forecast period. Increasing incidence and prevalence of infectious diseases is driving market growth, with a trend towards advent of advanced technologies in providing online doctor consultations. However, privacy and data security concerns in online doctor consultations poses a challenge. Key market players include American Well Corp., Babylon Healthcare Services Ltd., Dictum Health Inc., Doctor Anywhere Pte. Ltd., Enghouse Systems Ltd., eVaidya Pvt. Ltd., Evernorth Health Inc., HealthTap Inc., Included Health Inc., Lybrate Inc. USA., Medify, Mind Health, Orane Healthcare India Pvt. Ltd., PlushCare of California Inc., Practo Technologies Pvt. Ltd., SATA CommHealth, Teladoc Health Inc., TeleHealth Medicine, Walmart Health Virtual care, and ZocDoc Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Services and Software), Type (Audio chat and Video chat), and Geography (North America, Europe, Asia, and Rest of World (ROW))

Region Covered

North America, Europe, Asia, and Rest of World (ROW)

Key companies profiled

American Well Corp., Babylon Healthcare Services Ltd., Dictum Health Inc., Doctor Anywhere Pte. Ltd., Enghouse Systems Ltd., eVaidya Pvt. Ltd., Evernorth Health Inc., HealthTap Inc., Included Health Inc., Lybrate Inc. USA., Medify, Mind Health, Orane Healthcare India Pvt. Ltd., PlushCare of California Inc., Practo Technologies Pvt. Ltd., SATA CommHealth, Teladoc Health Inc., TeleHealth Medicine, Walmart Health Virtual care, and ZocDoc Inc.

Key Market Trends Fueling Growth

The integration of advanced technologies, such as machine learning, predictive analytics, and IoT, in healthcare is driving the adoption of telehealth solutions, including online doctor consultations. Industry 4.0, which utilizes digital technologies and smart automation, is also positively impacting healthcare by enabling real-time patient monitoring and virtual reality systems for data collection. The growth of internet connectivity, the prevalence of smartphones, and the proliferation of wearable devices are expanding access to healthcare services and fueling the growth of mobile health. These trends are expected to boost the global online doctor consultation services market during the forecast period.

The online doctor consultation market is witnessing significant growth due to the increasing use of smartphone cameras and video conferencing software. Doctors and medical practitioners are now able to connect with patients and clients remotely, making healthcare more accessible. With the widespread availability of data connection, digital transformation in the medical fraternity is gaining momentum. However, concerns around unauthorized access, data theft, breaches, and hacking remain. Cloud-based networks, computer sciences, and digital health platforms are key players in this space. Telemedicine market growth is driven by technological advancements, wireless penetration, and increasing smartphone users and broadband coverage. Doctor-on-call services are popular for managing chronic health conditions and lifestyle disorders. AI-assisted diagnosis support, e-OPD, e-pathology, e-radiology, e-counselling, e-health records, e-education, home consultation, and e-commerce services are all part of this digital health revolution. Hospitals and clinics are also joining the bandwagon, offering remote monitoring and AI-assisted diagnosis support. The younger generation’s increasing Internet usage and acceptance of digital solutions are further fueling this trend.

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Market Challenges

Telehealth services, including online doctor consultations, have gained traction as an efficient alternative to traditional healthcare delivery methods. Advanced technology enables healthcare providers to offer superior healthcare services to patients worldwide. Data collection and transmission, such as patient health details and clinical information, are crucial for effective telehealth care. Routine data sharing from medical devices or mobile applications with medical professionals ensures continuous patient health monitoring. Maintaining data security and confidentiality is essential in the telehealth ecosystem, fostering trust between healthcare providers and patients. Federal and state regulations, like the Health Insurance Portability and Accountability Act (HIPAA) of 1996, establish privacy standards to safeguard patients’ medical records. However, unauthorized access to medical data, data breaches, hacking, and loss of data during transmission pose significant threats to the telehealth industry. These concerns may hinder the growth of the global online doctor consultation market. Notably, instances of healthcare data breaches have escalated, particularly during the public health emergency. For example, the Office for Civil Rights (OCR), which enforces HIPAA regulations, temporarily waived certain data security requirements, allowing providers to use non-compliant communication platforms. After August 9, 2023, telehealth providers must adhere to HIPAA standards to maintain patient privacy and data security, mitigating these threats and ensuring market growth.The online doctor consultation market is experiencing significant growth due to increasing internet usage and the younger generation’s preference for digital solutions. This trend is particularly noticeable in the area of lifestyle disorders. Healthcare providers are embracing telehealth and telemedicine services, including E-OPD, E-Pathology, E-Radiology, E-Counselling, and E-Health records, to reach more patients and improve accessibility. Artificial intelligence (AI) is playing a key role in this evolution, with AI-powered chatbots and virtual assistants providing initial consultations and triage. Hospitals and clinics are offering home consultation services, while e-commerce platforms are integrating healthcare services such as telepsychiatry, teleradiology, and teletreatment. Private and government hospitals, independent consultants, rehabilitation centers, retail clinics, and urgent care centers are all adopting digital healthcare services to enhance their offerings. The use of laptops, tablets, and high-speed internet enables information exchange and machine-to-machine communication, facilitating efficient data movement and healthcare service delivery. Population growth and the technological aid provided by mHealth and digital health services are driving the demand for online doctor consultations. The healthcare system is undergoing a technological evolution, with digital health services becoming an integral part of the healthcare ecosystem.

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Segment Overview

This online doctor consultation market report extensively covers market segmentation by

Product 1.1 Services1.2 SoftwareType 2.1 Audio chat2.2 Video chatGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 Services- The online doctor consultation market is experiencing significant growth due to advancements in technology and enhanced internet services. Key clinical services, including live video conferencing, remote patient monitoring, and mobile health (mHealth), enable healthcare professionals to deliver effective and precise consultations remotely. This trend is driving the demand for a broad spectrum of telehealth services in the healthcare industry. Prominent players, such as American Well Corp. (AmWell), Babylon Healthcare Services Ltd. (Babylon Health), and MDLIVE Inc. (MDLIVE), offer online doctor consultation services. Patients can interact with medical staff via secure messaging or instant messaging for non-urgent medical issues. Video consultations facilitate real-time, face-to-face interaction for symptom evaluation and medical issue outlining. Audio-only consultations are suitable for discussing medical concerns and answering questions. Transmission of health data from wearable technology or home monitoring devices allows medical professionals to efficiently manage chronic illnesses. Electronic prescriptions can be written and transmitted to selected pharmacies, streamlining the prescription process. Patients can consult specialists in various medical fields, such as dermatology, cardiology, orthopedics, and mental health. By 2025, HealthUno aims for a 25% market share in India, currently conducting 1,500 daily consultations with 600+ doctors, aiming to expand its doctor network to 5,000 and launch an online pharmacy, UnoPharmacy. The growing demand for online doctor consultations fuels the global market’s expansion during the forecast period.

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Research Analysis

The online doctor consultation market is experiencing exponential growth due to the increasing usage of the internet and the younger generation’s preference for digital solutions. With the rise of lifestyle disorders, there is a growing demand for convenient and accessible healthcare services. Artificial intelligence (AI) and technological aid are revolutionizing the healthcare system by enabling telehealth, telemedicine, mHealth, and digital healthcare services. Hospitals and clinics are embracing these digital solutions through E-OPD, E-Pathology, and e-commerce services. Retail clinics and urgent care centers are also joining the bandwagon, offering consultations via laptops, tablets, and smartphone cameras. High-speed internet, smartphone cameras, video conferencing software, and data connection have made online doctor consultations a viable alternative to traditional in-person visits. Population growth and the availability of high-speed internet and smartphones are driving the market’s growth.

Market Research Overview

The online doctor consultation market is experiencing significant growth due to the increasing usage of the internet and the younger generation’s preference for digital solutions. Lifestyle disorders are on the rise, driving the demand for convenient and accessible healthcare services. Artificial intelligence (AI) is revolutionizing the healthcare industry with telehealth and telemedicine becoming increasingly popular. E-OPD, E-Pathology, E-Radiology, E-Counselling, and E-Health records are transforming traditional hospital and clinic services. Home consultation and hospital consultation are also gaining traction in the digital healthcare landscape. Telepsychiatry, teleradiology, teletopathology, and other telehealth specialties are providing remote diagnosis and treatment options. Digital healthcare services include e-commerce platforms, retail clinics, urgent care centers, mobile-based health applications, and mHealth. The technological evolution is enabling remote monitoring, digital health platforms, and big data-based systems, which offer AI-assisted diagnosis support. However, concerns around data security and privacy, including unauthorized access, data theft, breaches, and hacking, need to be addressed in cloud-based networks. The digital transformation of the healthcare system is being facilitated by technological aid, including laptops, tablets, smartphone cameras, video conferencing software, and high-speed internet. The telemedicine market is witnessing technological advancements, wireless penetration, and smartphone users, broadband coverage, and doctor-on-call services. The healthcare service delivery is being revolutionized, catering to the needs of patients, clients, and medical practitioners alike. However, it is essential to ensure that digital health services are secure and reliable to maintain trust and confidence in the digital healthcare ecosystem.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductServicesSoftwareTypeAudio ChatVideo ChatGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

PASHA Holding forges global connections at COP29

Published

2 hours ago

November 23, 2024

BAKU, Azerbaijan, Nov. 23, 2024 /PRNewswire/ — PASHA Holding, a leading Azerbaijani company, successfully participated at COP29, reaffirming its dedication to climate action. As an Impact Partner at the event, PASHA Holding actively engaged in meaningful discussions, collaborated with global stakeholders, and shared its vision for a sustainable future.

The holding’s presence included a tailored booth in the Green Zone, alongside multiple thought-provoking sessions led by PASHA Holding companies, including PASHA Bank, Kapital Bank, PASHA Insurance, PASHA Life, AgroDairy, and PASHA Real Estate. These sessions addressed critical issues such as climate finance, sustainable agriculture, and the role of private sector leadership in fostering inclusive green transitions.

Through its participation, PASHA Holding leveraged the opportunity to exchange ideas, build relationships with regional and global peers, and learn from diverse experiences in tackling climate challenges. By engaging with stakeholders from government, international organizations, and the private sector, PASHA Holding enhanced its capacity to drive sustainable development initiatives in Azerbaijan and beyond.

Aytaj Mukhtazada, Head of PR and Communications at PASHA Holding, remarked:

“COP29 has been an extraordinary platform for us to amplify our sustainability vision and forge valuable connections. The insights gained and partnerships established here will enable us to align our strategies with global climate objectives while addressing the unique needs of our region. This experience underscores the importance of collaboration in creating impactful, long-term solutions to the challenges we all face.”

Key elements of PASHA Holding’s sustainability strategy include minimizing the environmental impact of its own operations, investing in projects that support the transition to net zero, and investing in technological innovation to address the challenges presented by climate change. In the near future, the group plans to conduct comprehensive diagnostics and gap analysis across its subsidiaries to set specific goals to decrease our carbon footprint, including supply chain, support the customers in their transition journeys and increase investments in green initiatives. Additionally, PASHA is committed to empowering its stakeholders through education and collaboration, ensuring that sustainability is embedded across the wider economy. These plans include supporting the development of a sustainable SME landscape in the country, aiding farmers in their green transition, and supporting innovation for developing decarbonization solutions.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pasha-holding-forges-global-connections-at-cop29-302314735.html

SOURCE PASHA Holding

Technology

Global Times: China vows to promote steady growth of foreign trade

Published

3 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Officials from five Chinese departments including the Ministry of Commerce (MOFCOM), the Ministry of Foreign Affairs and the People’s Bank of China vowed to promote the steady growth of foreign trade at a press conference held on Friday in a move experts said is part of a package of policy measures to inject impetus and confidence into stabilizing the economy and help realize its annual economic targets.

Meanwhile, at the same press conference, the vice commerce minister highlighted China’s capacity in dealing with external shocks in the first explicit, publicly known response by a senior commerce official to the impact of the US’ potential 60 percent tariffs on Chinese imports. He stressed tariffs will only lead to high costs for consumers, and a stable, healthy and sustainable development of China-US economic and trade relations will benefit peoples of both countries and the world.

The press conference came after MOFCOM, together with the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People’s Bank of China and the General Administration of Customs rolled out nine measures to support foreign trade, involving support and guidance in insurance, financing, cross-border trade settlement, expanding scope on imports and exports, optimization of trade structure, visa facilitation and transportation.

Analysts noted that the latest move will further enhance the confidence of Chinese foreign trade enterprises, thereby injecting a stable and strong impetus to economic development, helping the country navigate the complexities of the global market.

Policy support

During the press conference, Chinese Vice Commerce Minister Wang Shouwen noted that the policy is aimed at responding to changes in the international trade situation and promoting solutions to practical difficulties faced by foreign trade enterprises in financing and maritime transport.

The raft of policy measures aimed at promoting the steady growth of foreign trade was deliberated and adopted by a State Council executive meeting on November 8.

The Ministry of Commerce on Thursday unveiled the policy measures in a notice. Among the nine specific measures, financial institutions are encouraged to increase financing support for micro, small and medium-sized companies based on market-oriented and law-based principles.

Efforts should be made to optimize cross-border trade settlement, promote the development of cross-border e-commerce, expand agricultural product exports, and support the imports of key equipment and energy resources, said the notice.

The overall situation of China’s foreign trade is relatively optimistic, but at the same time we should also see that uncertainties continue to accumulate. Maintaining stable growth in foreign trade and sustained improvement in competitiveness cannot be separated from policy support, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, said on Friday.

“The timely joint efforts by five Chinese departments enhanced the confidence and expectations of Chinese foreign trade enterprises, and the measures will effectively help address problems of current foreign trade and future uncertainties,” Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Friday.

Stable growth in foreign trade can provide more impetus for the domestic economy. The nine measures are part of a package of policy measures to inject growth momentum and confidence into stabilizing the economy, which will help realize the country’s annual economic targets, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, said on Friday.

“Consumption, investment, exports and market sentiment all improved in October, and this trend is highly likely to continue in the last two months of the year, as the confidence of enterprises and consumers has been shored up thanks to the support policies,” Wang Peng told the Global Times.

Resilient against external shocks

At the press conference on Friday, Wang Shouwen also stressed that China has the capacity in dealing with external shocks largely owing to its resilient and vibrant economy that has great potential in a response to a question on the impact of the US’ potential 60 percent tariffs on Chinese imports.

China is building a “dual circulation” development pattern, which takes the domestic market as the mainstay while allowing domestic and international markets to reinforce each other. We are capable of resolving and withstanding the impact of external shocks, the official told reporters.

Wang Shouwen noted that history has also shown that the imposition of tariffs on China by a country does not solve the problem of its own trade deficit, on the contrary, it pushes up the prices of the country’s imports from China as well as from other countries.

This is because the tariffs are ultimately paid for by the consumers and the end-users of the importing country, which inevitably leads to an increase in the prices paid by consumers and an increase in the costs to the users, which also leads to inflation, the vice commerce minister further elaborated.

The vice commerce minister said that China and the US are the two largest economies in the world, and have strong complementarities. We believe that if China and the US can maintain a stable, healthy and sustainable development trend in their economic and trade relations, it will be beneficial to both the Chinese people and the American people, as well as the people of all countries in the world, and this is also what the international community expects, he said.

China is willing to engage in dialogue with the US on the basis of the principles of mutual respect, peaceful coexistence and win-win cooperation, in a bid to expand areas of cooperation, manage differences, and promote the stability of the bilateral trade and economic and trade relationship, Wang Shouwen said, noting that China will also firmly safeguard its own sovereignty, security and development interests.

Chinese companies have advantages in ordering, transportation, warehousing and other export-related areas that are difficult for other countries to replace, due to their complete supply chain and high production efficiency, Li said.

“Moreover, the country’s economic resilience provides enough market size to address some of the external risks. In particular, China has continued to promote new dynamics in foreign trade and new quality productive forces, which will cultivate new international competitive advantages,” Li noted.

“Years of China-US trade and investment have made the two sides interdependent. In addition to providing US consumers with cost-effective products, China’s exports of its intermediate products have become embedded in the US supply chain and have become part of the competitiveness of many US industries,” Li said, noting that the US needs to maintain rationality in its economic and trade policy toward China.

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SOURCE Global Times

Technology

ZICC: Closer China- Honduras Ties

Published

3 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Renato Florentino, vice president of Honduras, accepted an exclusive interview with ZICC in Wuzhen during the 2024 World Internet Conference Wuzhen Summit. He said that China’s advancements in transportation, communication, and computing impressed him a lot. “We hope to continue to promote the cooperation between Honduras and China and maintain close cooperative relations,” he said.

SOURCE ZICC