The market for telemedicine is anticipated to expand from its current value of $49.9 billion in 2019 to reach $277.9 billion by the year 2025.
The continuation of the industry's growth through the year 2030.
Even before COVID-19, the market for virtual healthcare services had been expanding.
However, as a result of the pandemic, people's interest in this field skyrocketed.
undefinedOver the past five years, there has been a 275% increase in the amount of search interest in "telehealth."
Hims, Inc. is a notable company that competes in this market.
Hims provides telehealth consultations with board-certified general practitioners.
In addition, they provide consultations with psychiatrists, as well as for prescription medications to treat hair loss and acne, among other services.
All of this is presented on a website designed in the style of an online store. (There are actually two, and they are called forhims.com and forhers.com.)
Hims, Inc. provides an ecommerce platform for customers to engage in online medical service shopping.
Other examples of companies involved in telehealth include the British Babylon Health and the French Doctolib. Both of these companies have developed mobile applications that enable patients to engage in virtual medical consultations.
In addition, there is the American company Teladoc, which has a market cap of approximately $12 billion and provides round-the-clock access to telehealth consultations with medical professionals.
Not to mention InTouch Health, which provides a platform that medical professionals can use to offer their very own virtual care services to patients.
Of course, the most important question for people in the United States to ask is always, "Will my insurance cover it?"
However, the answer to this question is "yes" in the context of telehealth: the laws of 42 states and the District of Columbia now mandate that private insurers cover telehealth services.
According to Accenture, a significant number of customers (62%) would prefer a virtual healthcare option in at least some circumstances. This is an important development..is is an important development..