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U.S. Virtual Visits Market Size, Share & Trends Analysis Report By Service Type, By Commercial Plan Type (Small Group, Self-Funded/ASO Group Plans, Medicaid, Medicare), By Age Group, By Gender, And Segment Forecasts, 2022 - 2030

May 2022 | 98 pages | ID: U72935F6320FEN
Grand View Research, Inc.

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U.S. Virtual Visits Market Growth & Trends

The U.S. virtual visits market size is expected to reach USD 105.5 billion in terms of revenue and 5.2 billion in terms of volume by the end of the forecast period and is expected to grow at a CAGR of 30.9% in terms of revenue, and 36.9% in terms of volume as per a new report published by Grand View Research, Inc. Increasing demand for telehealth and teleconsultation and introduction of new and advanced technologies has positively impacted the growth of the market in the U.S. Increasing penetration of smartphones and assisted technologies has also been a key factor for the fast growth of the market.

In the service segment, cold and flu management had the largest market share in 2021. The major factor behind the growth of the market is the growing demand for teleconsultations for patients for treatment of common conditions like cold and flu to reduce the chances of contracting additional illnesses due to hospital visits. The availability of specialists through telehealth and teleconsultations, even in remote areas has brought about a revolution in the virtual visits market, acting as a key factor for the growth of the market.

Based on age, the 18 to 34 years segment had the largest market share in 2021. The growth is a result of increasing smartphone penetration and increased internet usage by the consumers in this age group. The increase in the number of young adults suffering from mental health issues has also risen in the past few years and more so during COVID-19, resulting in a large market share.

Based on gender, women dominated the market with a revenue share of 65% in 2021. The increasing demand for telemedicine and telehealth had increased due to COVID-19 to reduce the chances of contracting additional infections, especially in pregnant females. The virtual visits made it easier for all to get access to specialists and better healthcare facilities within the comfort of their homes, proving to be a major factor in the growth of this segment and the market overall.

Based on the type of commercial plans, self-funded/ASO group plans had the largest revenue share. Growth in this segment has been a result of ASO groups proposing and encouraging virtual visits in their coverage plans to avoid regular visits to hospitals in avoidable conditions. During the pandemic, only non-emergency visits throughout the country were encouraged by healthcare providers to avoid the risk of infection. In wake of the pandemic, employers are increasingly preferring self-coverage plans and providing cost-effective healthcare services for their employees to diminish the exploding healthcare costs, which is further enhancing the growth of the market.

The COVID-19 pandemic created a massive growth spurt for the virtual visits market in the U.S. With the people needing healthcare solutions during the peak of the pandemic, teleconsultations were providing the necessary care that was needed. The huge jump in the uptake of virtual consultations was a result of government initiatives as well as fear of contracting the disease by physically visiting the hospitals. It came as a necessary relief for the healthcare providers as well, where they were less burdened due to the use of teleconsultations in case of non-emergency cases. The overall productivity of the healthcare system had also improved, proving the virtual visit market has been a great success and would be a way to consult in the future as well.

U.S. Virtual Visits Market Report Highlights
  • The U.S. market is expected to reach USD 105.5 billion (Revenue) and 5.2 billion visits (Volume) by 2030, due to rising demand for telehealth services and virtual visits and also due to advancements in the field of delivering virtual care through apps and connected devices
  • The cold and flu management service segment had the biggest revenue share as of 2021. Growing adoption rates of telehealth solutions to get consultations regarding common conditions have risen during the pandemic, this has been a result of awareness and encouragement by all private and government agencies to curb the spread of the disease
  • The age group 18-34 dominated, capturing the revenue share of 31.8% in 2021, this has been due to the increasing use of smartphones and internet-connected devices, increasing burden of mental health issues among the consumers in this age, and ease of access to healthcare through virtual visits, all contributing to the growth of the segment
  • In the gender segment, women dominated the market with a record revenue share of 65% in 2021. The increasing adoption of virtual visits during the pandemic had created a safe environment for pregnant women to receive the best healthcare without physically going to hospitals and quality post-natal care was also made available for women, resulting in the overall growth of the market
CHAPTER 1 METHODOLOGY AND SCOPE

1.1 Research Methodology
  1.1.1 Information Procurement
1.2 Market Definition
  1.2.1 Service Type
  1.2.2 Commercial Plans Type
  1.2.3 Age Group Type
  1.2.4 Gender Type
1.3 Information or Data Analysis
1.4 Research Scope and Assumptions
  1.4.1 Methodology
1.5 Market Formulation &Validation
  1.5.1 Country Market: CAGR Calculation
1.6 Country Based Segment Share Calculation
1.7 List of Data Sources

CHAPTER 2 EXECUTIVE SUMMARY

2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
2.4 Impact of COVID-19 on U.S. Virtual Visits Market

CHAPTER 3 THE U.S. VIRTUAL VISITS MARKET VARIABLES, TRENDS AND SCOPE

3.1 The U.S. Virtual Visits Market Snapshot
3.2 Market Segmentation and Scope
3.3 Penetration & Growth Prospect Mapping
3.4 Market Dynamics
  3.4.1 Market Driver Analysis
    3.4.1.1 Growing Technological Advancements in Telehealth Space
    3.4.1.2 Enhanced Quality & Safety of Telehealth Applications and Rise in Government Initiatives to Support Adoption of Virtual Care services
    3.4.1.3 Growing Consumer Preference for Virtual Care Solutions
  3.4.2 Market Restraint Analysis
    3.4.2.1 Difficulty in maintaining confidentiality of patient information
  3.4.3 Industry Challenges
3.5 The U.S. Virtual Visits Market Analysis Tools
  3.5.1 Industry Analysis - Porter's
    3.5.1.1 Supplier Power
    3.5.1.2 Buyer Power
    3.5.1.3 Substitution Threat
    3.5.1.4 New Entrants Threat
    3.5.1.5 Competitive Rivalry
  3.5.2 PESTEL Analysis
    3.5.2.1 Political Landscape
    3.5.2.2 Economic Landscape
    3.5.2.3 Technology Landscape

CHAPTER 4 THE U.S. VIRTUAL VISITS MARKET - COMPETITIVE ANALYSIS

4.1 Recent Developments & Impact Analysis, by Key Market Participants
  4.1.1 Recent Development Analysis
    4.1.1.1 Product Launches
4.2 Major Deals and Strategic Alliances Analysis
  4.2.1 Investments, Mergers, Acquisitions
  4.2.2 Partnerships and Collaborations
4.3 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)

CHAPTER 5 THE U.S. VIRTUAL VISITS MARKET: SERVICE TYPE ESTIMATES & TREND ANALYSIS

5.1 The U.S. Virtual Visits Market: Service Type Movement Analysis, USD Million, 2021 & 2030
  5.1.1 Cold and flu management
    5.1.1.1 Cold and flu management market estimates and forecasts, 2016 - 2030 (USD Million)
    5.1.1.2 Cold and flu management market estimates and forecasts, 2016 - 2030 (Million Visits)
  5.1.2 Allergies
    5.1.2.1 Allergies market estimates and forecasts, 2016 - 2030 (USD Million)
    5.1.2.2 Allergies market estimates and forecasts, 2016 - 2030 (Million Visits)
  5.1.3 Urgent Care
    5.1.3.1 Urgent Care market estimates and forecasts, 2016 - 2030 (USD Million)
    5.1.3.2 Urgent Care market estimates and forecasts, 2016 - 2030 (Million Visits)
  5.1.4 Preventive Care
    5.1.4.1 Preventive Care market estimates and forecasts, 2016 - 2030 (USD Million)
    5.1.4.2 Preventive Care market estimates and forecasts, 2016 - 2030 (Million Visits)
  5.1.5 Chronic Care Management
    5.1.5.1 Chronic Care Management market estimates and forecasts, 2016 - 2030 (USD Million)
    5.1.5.2 Chronic Care Management market estimates and forecasts, 2016 - 2030 (Million Visits)
  5.1.6 Behavioral Health
    5.1.6.1 Behavioral Health market estimates and forecasts, 2016 - 2030 (USD Million)
    5.1.6.2 Behavioral Health market estimates and forecasts, 2016 - 2030 (Million Visits)

CHAPTER 6 THE U.S. VIRTUAL VISITS MARKET: COMMERCIAL PLAN TYPE ESTIMATES & TREND ANALYSIS

6.1 U.S. Virtual Visits Market: Commercial Plan Type Movement Analysis, USD Million, 2021 & 2030
  6.1.1 Small Group
    6.1.1.1 Small Group market estimates and forecasts, 2016 - 2030 (USD Million)
    6.1.1.2 Small Group market estimates and forecasts, 2016 - 2030 (Million Visits)
  6.1.2 Self-Funded/ASO Group Plans
    6.1.2.1 Self-funded/ASO group plans market estimates and forecasts, 2016 - 2030 (USD Million)
    6.1.2.2 Self-funded/ASO group plans market estimates and forecasts, 2016 - 2030 (Million Visits)
  6.1.3 Medicaid
    6.1.3.1 Medicaid market estimates and forecasts, 2016 - 2030 (USD Million)
    6.1.3.2 Medicaid market estimates and forecasts, 2016 - 2030 (Million Visits)
  6.1.4 Medicare
    6.1.4.1 Medicare market estimates and forecasts, 2016 - 2030 (USD Million)
    6.1.4.2 Medicare market estimates and forecasts, 2016 - 2030 (Million Visits)

CHAPTER 7 U.S. VIRTUAL VISITS MARKET: AGE GROUP ESTIMATES & TREND ANALYSIS

7.1 U.S. Virtual Visits Market: Age Group Movement Analysis, USD Million, 2021 & 2030
  7.1.1 Age 18-34
    7.1.1.1 Age 18-34 market estimates and forecasts, 2016 - 2030 (USD Million)
    7.1.1.2 Age 18-34 market estimates and forecasts, 2016 - 2030 (Million Visits)
  7.1.2 Age 35-49
    7.1.2.1 Age 35-49 market estimates and forecasts, 2016 - 2030 (USD Million)
    7.1.2.2 Age 35-49 market estimates and forecasts, 2016 - 2030 (Million Visits)
  7.1.3 Age 50-64
    7.1.3.1 Age 50-64 market estimates and forecasts, 2016 - 2030 (USD Million)
    7.1.3.2 Age 50-64 market estimates and forecasts, 2016 - 2030 (Million Visits)
  7.1.4 Age 65 And Above
    7.1.4.1 Age 65 and Above market estimates and forecasts, 2016 - 2030 (USD Million)
    7.1.4.2 Age 65 and Above market estimates and forecasts, 2016 - 2030 (Million Visits)

CHAPTER 8 THE U.S. VIRTUAL VISITS MARKET: GENDER ESTIMATES & TREND ANALYSIS, BY PRODUCT

8.1 The U.S. Virtual Visits Market: Gender Movement Analysis, USD Million, 2021 & 2030
  8.1.1 Men
    8.1.1.1 Men market estimates and forecasts, 2016 - 2030 (USD Million)
    8.1.1.2 Men market estimates and forecasts, 2016 - 2030 (Million Visits)
  8.1.2 Women
    8.1.2.1 Women market estimates and forecasts, 2016 - 2030 (USD Million)
    8.1.2.2 Women market estimates and forecasts, 2016 - 2030 (Million Visits)

CHAPTER 9 COMPETITIVE LANDSCAPE

9.1 Company Profiles
  9.1.1 American Well Corporation
    9.1.1.1 Company Overview
    9.1.1.2 Financial Performance
    9.1.1.3 Product Benchmarking
    9.1.1.4 Strategic Initiatives
  9.1.2 MDLive, Inc
    9.1.2.1 Company Overview
    9.1.2.2 Financial Performance
    9.1.2.3 Product Benchmarking
    9.1.2.4 Strategic Initiatives
  9.1.3 Doctor On Demand, Inc
    9.1.3.1 Company Overview
    9.1.3.2 Financial Performance
    9.1.3.3 Product Benchmarking
    9.1.3.4 Strategic Initiatives
  9.1.4 eVisit Telemedicine Solution
    9.1.4.1 Company Overview
    9.1.4.2 Financial Performance
    9.1.4.3 Product Benchmarking
    9.1.4.4 Strategic Initiatives
  9.1.5 Teladoc Health, Inc
    9.1.5.1 Company Overview
    9.1.5.2 Financial Performance
    9.1.5.3 Product Benchmarking
    9.1.5.4 Strategic Initiatives
  9.1.6 MeMD
    9.1.6.1 Company Overview
    9.1.6.2 Financial Performance
    9.1.6.3 Product Benchmarking
    9.1.6.4 Strategic Initiatives
  9.1.7 HealthTap, Inc
    9.1.7.1 Company Overview
    9.1.7.2 Financial Performance
    9.1.7.3 Product Benchmarking
    9.1.7.4 Strategic Initiatives
  9.1.8 Vidyo, Inc
    9.1.8.1 Company Overview
    9.1.8.2 Financial Performance
    9.1.8.3 Product Benchmarking
    9.1.8.4 Strategic Initiatives
  9.1.9 Plushcare, Inc.
    9.1.9.1 Company Overview
    9.1.9.2 Financial Performance
    9.1.9.3 Product Benchmarking
    9.1.9.4 Strategic Initiatives
  9.1.10 Zipnosis
    9.1.10.1 Company Overview
    9.1.10.2 Financial Performance
    9.1.10.3 Product Benchmarking
    9.1.10.4 Strategic Initiatives
9.2 List of Other Companies


LIST OF TABLES



LIST OF FIGURES

Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Information analysis and market formulation process
Fig. 8 Market formulation & validation
Fig. 9 U.S. virtual visits market trends & outlook
Fig. 10 U.S. virtual visits market summary, 2021, (USD Million and Unit Million)
Fig. 11 U.S. virtual visits market segmentation
Fig. 12 Penetration & growth prospect mapping
Fig. 13 Market driver analysis (Current & future impact)
Fig. 14 Market restraint analysis (Current & future impact)
Fig. 15 U.S. virtual visits market: Recent developments & impact analysis
Fig. 16 U.S. virtual visits market, service type outlook: Key takeaways (USD Millions)
Fig. 17 U.S. virtual visits market, service type outlook: Key takeaways (Million Visits)
Fig. 18 U.S. virtual visits market: Service type movement analysis, By Value (USD Million)
Fig. 19 U.S. virtual visits market: Service type movement analysis, By Volume (Million Visits)
Fig. 20 Cold and flu management market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 21 Cold and flu management market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 22 Allergies market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 23 Allergies market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 24 Urgent care market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 25 Urgent care market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 26 Preventive care market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 27 Preventive care market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 28 Chronic care management market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 29 Chronic care management market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 30 Behavioral health market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 31 Behavioral health market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 32 U.S. virtual visits market, commercial plan type outlook: Key takeaways (USD Millions)
Fig. 33 U.S. virtual visits market, commercial plan type outlook: Key takeaways (Million Visits)
Fig. 34 U.S. virtual visits market: Commercial plan type movement analysis, By Value (USD Million)
Fig. 35 The U.S. virtual visits market: Commercial plan type movement analysis, By Volume (Million Visits)
Fig. 36 Small group market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 37 Small group market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 38 Self-funded/ASO group plans market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 39 Self-funded/ASO group plans market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 40 Medicaid market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 41 Medicaid market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 42 Medicare market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 43 Medicare market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 44 U.S. virtual visits market, age group outlook: Key takeaways (USD Millions)
Fig. 45 U.S. virtual visits market, age group outlook: Key takeaways (Million Visits)
Fig. 46 U.S. virtual visits market: Age group movement analysis, By Value (USD Million)
Fig. 47 U.S. virtual visits market: Age group movement analysis, By Volume (Million Visits)
Fig. 48 Age 18-34 market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 49 Age 18-34 market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 50 Age 35-49 market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 51 Age 35-49 market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 52 Age 50-64 market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 53 Age 50-64 market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 54 Age 65 and Above market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 55 Age 65 and Above market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 56 U.S. virtual visits market, gender outlook: Key takeaways (USD Millions)
Fig. 57 U.S. virtual visits market, gender outlook: Key takeaways (Million Visits)
Fig. 58 U.S. virtual visits market: Gender movement analysis, By Value (USD Million)
Fig. 59 U.S. virtual visits market: Gender movement analysis, By Volume (Million Visits)
Fig. 60 Men market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 61 Men market estimates and forecasts, 2016 - 2030 (Million Visits)
Fig. 62 Women market estimates and forecasts, 2016 - 2030 (USD Million)
Fig. 63 Women market estimates and forecasts, 2016 - 2030 (Million Visits)


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