Global Online Doctor Consultation Market – Forecasts to 2026
The online doctor consultation market is estimated to be USD 3.9 Billion in 2020 and is projected to reach USD 16.0 Million by 2026, at a CAGR of 26.6%. The healthcare industry is a constantly changing industry which accommodates new research findings and integrate new treatments. All thanks to the growing integration of the internet and healthcare industry and prevalence of smartphones that the healthcare services are reaching to every patient sitting in the house. This integration is now at the beginning of a massive shift in how healthcare providers deliver patient care, and provide online access to physicians. Moreover, worldwide lockdown amid COVID-19 infection, has prompted innovation in the healthcare services sector. In order to avoid the spread of infection further and protect front the line workers and patients, telemedicine (online consultation) has emerged as a new home care service.
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Patients have been switching to online medical consultation rapidly, due to the coronavirus pandemic. For example, according to the reports submitted by Practo, there has been a 500% growth in online consultations between March-May 2020 due to lockdown conditions. In order to provide seamless services for patients sitting at home, major players in the market are using organic strategies to penetrate in the market even more. In January 2019, CirrusMD, (Leader in chat-first virtual care delivery), entered into a collaboration with Sanitas Medical Centers (Online Consultation provider). The collaboration will help Sanitas’s patients to access instant, barrier-free communication with a trusted doctors via mobile or web. Increasing availabity of doctors, healthcare providers, and specialist on an online platform, rising internet usage clubbed with technological innovations for consultation at home care setting, increasing preference for remote patient monitoring due to COVID 19 pandemic, and growing burden of common lifestyle disorders in younger generation are some of the factors driving the online doctor consultation market.