Online doctor consultation are increasing moving towards providing integrated healthcare services that consists of international travel coverage, medical prescriptions, insurance consulting, second opinions, health and wellness plans, etc. Althalia, for instance, is an online doctor consultation provider that allows its members to consult a Board-Certified Physician of their choice. They also provide valuable health insights after analysing the individual's healthcare data over a period of time. The service can be availed in several languages, which greatly benefits international travelers. Such factors are adding in the growth of online doctor consultation market. Further the online doctor consultation platforms are incorporating monthly plans into their revenue model. Through this, an individual can avail consultation services for a monthly fee, and no additional service charge needs to be paid each time there is a need to consult a doctor. myDOCTORplan, for example, is an online doctor consultation platform in the U.S. that allows individuals to access 24*7 doctor consultations for a monthly fee of US$ $14.99. Patients with chronic illnesses that require regular consultations can greatly benefit from this. In terms of geography North American region accounted for major share in 2018, followed by Europe. Europe has a well-established healthcare system that allows the individuals to avail healthcare services at affordable rates. Private players are tying up with government bodies to provide virtual doctor consultations in the European Union. In France, for instance, the French government tied up with private healthcare providers to setup an online doctor consultation facility to tackle the COVID-19 pandemic. Thus, such factors are driving the growth of online doctor consultation market.
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Online doctor consultation service providers are integrating advanced technologies in their platforms to optimize patient experience. Artificial intelligence based chatbots in online doctor consultation platforms are suitable for mental health consultations. CEO of Docs App, an online consultation platform, states that a patient suffering from depression doesn’t feel comfortable to confront a counsellor and also wishes to keep his identity private. Online consultations eliminate the fear of patients to confront to a doctor. Whereas, integration of artificial intelligence chatbots eliminate the doctor from primary analysis which makes patients more comfortable. Hence, many online doctor consultation providers are utilizing artificial intelligence capabilities. For instance, Tess application of X2 Foundation provides primary assistance for patients with mental health issues through an artificial intelligence powered chatbot through text message conversations. With the current COVID-19 crisis usage of chatbot technology is being adopted for treating mental anxiety. For instance, Shipra Dawar, founder of EpsyClinic HealthCare Private Limited said that their online consultation app ‘IWill’ is witnessing 600 cases of mental anxiety as compared to average of 300 to 400 cases from the pre-coronavirus period. This app employs a complex algorithm which analyses current mental and emotional health of patient and then creates a personalized therapy based on unique concerns of each patient. The app then connects the patient to the best suited doctor. These online doctor consultation apps are helping patients in the coronavirus crisis and are anticipated to gain momentum drive the global online doctor consultation market in future years.
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The detailed research study provides qualitative and quantitative analysis of online doctor consultation market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The global online doctor consultation market was valued at US$ 2.45 Bn in 2018 and is anticipated to grow at a CAGR of 16.87% over the forecast period, owing to the rise in penetration smart devices and internet connectivity.
- Working age population (16 - 64 Years) held notable share in the global online doctor consultation market in 2018
- Promotional initiatives of governments are contributing towards the share of general medicine in global online doctor consultation market
- North America held the highest market share in global online doctor consultation market in 2018. The growing investments in emerging medical technology start-ups has contributed towards the dominance of North America in global online doctor consultation market.
- Some of the players operating in the online doctor consultation market are Alibaba Group, Apollo Hospitals Group., Babylon, CallHealth Services Pvt. Ltd., Credihealth Pvt. Ltd., Doctor Anywhere Pte Ltd., DoctorOnCall, Godel Technologies Pvt Ltd., Halodoc, Healnt, HelloDoctor.Asia, Lybrate, Inc., MyDoc Pte. Ltd., Now Healthcare Group Ltd., Phasorz Tech Ltd., Ping An Good Doctor, Practo, RingMD and Speedoc amongst others.
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Global Online Doctor Consultation Market:
- By Platform
- By Demography
- Children and Adolescents (Under 15 Years)
- Working Age Population ( 16 - 64 Years)
- Elderly Population (65 Years and Older)
- By Type
- General Medicine
- By Region
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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