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Virtual Diagnostic Market Projected to Reach Valuation of US$ 17.40 Bn By 2027: Research Informatic

The global Virtual Diagnostic market is expected to grow at a CAGR of 14.92% in terms of revenue over the forecast period from 2021 to 2027, owing to a number of variables about which Research Informatic provides detailed insights and projections in the global Virtual Diagnostic market research. Get the PDF Sample Copy (Including FULL […]

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The global Virtual Diagnostic market is expected to grow at a CAGR of 14.92% in terms of revenue over the forecast period from 2021 to 2027, owing to a number of variables about which Research Informatic provides detailed insights and projections in the global Virtual Diagnostic market research.

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Rising geriatric population, increase in prevalence of chronic disease, and pandemic such as COVID-19 are driving the global virtual diagnostic market. Furthermore, the virtual diagnostic industry is predicted to grow as there is increasing adoption of AI used in virtual diagnostics. Algorithms may be used to produce predicted diagnoses to assist clinicians in deciding which patients to prioritize. AI assists clinicians in the diagnosis of difficult or uncommon diseases by assisting them in determining which patients to prioritize. As a result, these technologies are expected to increase therapy effects while reducing time spent on them. The use of virtual diagnostics allows for a greater number of consultations every day. In addition, leading industry players are creating customer-centric applications that allow customers to interact with an expert depending on their needs in response to the emerging pandemic such as corona. Virtual diagnostics is a novel technology with several difficulties, such as low virtual diagnostic accuracy and escalating privacy issues, which may limit industry expansion.

Virtual Diagnostic Market: Segmentation

The research study segments the global Virtual Diagnostic market based on type, application, and end-user. The market has been categorized by type into device/wearable-based and mobile app-based; the application segment includes gastrointestinal, ophthalmology, cardiology, pathology, and others. Cardiology is expected to take the lead in application segmentation. This is due to an increase in the incidence of cardiology. The market is further divided based on end-user into physicians, providers, payers, hospitals, clinics, and others.

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Virtual Diagnostic Market: Regional Synopsis

The research report analyzes market size and forecasts for five major regions namely North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America, from 2016 to 2027. North America and Europe currently account for the majority of market share, as these are the traditional outdoor clothing markets. Consumers in these areas have a strong preference for outdoor activities, which are dominated by climbers and hikers, and this tendency is projected to continue. North America dominates the global virtual diagnostic market. This due to increasing adoption of technology in the region. The growing geriatric population in the Asia Pacific region is expected to further fuel the growth global virtual diagnostic market. Other factors driving the virtual diagnostic market in the Asia Pacific region are rising prevalence of chronic illnesses and healthcare spending. Governments in developing nations such as Indonesia and Malaysia are also giving virtual diagnostics to help low-income people get better healthcare.

Virtual Diagnostic Market: Competitive Landscape

The virtual diagnostic industry has a moderately fragmented competitive landscape, with the top companies accounting for the majority of revenue. Some of the key players in the global virtual diagnostic market include SkinVisi, Cardiologs Technologies, Hill-Rom Holdings, Inc., Olympus Corporation, Medtronic, CapsoVision, Inc., AliveCor Inc., Phelcom Technologies, Monitored Therapeutics Inc., Sight Diagnostics, Eyenuk, Inc., ResApp Health Limited, Healthy.io Ltd., HearX IP, and IDx Technologies Inc.

Global Virtual Diagnostic Market: Segmentation

Virtual Diagnostic Market, by Type

  • Device/Wearable-based
  • Mobile App-based

Virtual Diagnostic Market, by Application

  • Gastrointestinal
  • Ophthalmology
  • Cardiology
  • Pathology
  • Others

Virtual Diagnostic Market, by End-user

  • Physicians
  • Providers
  • Payers
  • Hospitals
  • Clinics
  • Others

Virtual Diagnostic Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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