Global Virtual Diagnostic Market

Report ID : 1131 | Published : 2021-07-26 | Pages: 140 | Format:

Increasing incidences of chronic health conditions driving the growth of the virtual diagnostics market. In regular diagnosis, sometimes it becomes difficult to diagnose as many consequences, including poor health conditions, lack of physicians and medical staff, increasing the demand for virtual diagnostic. Virtual diagnostic is an effective option to fulfill the need of such diagnostic products. The market growth is attributed to various factors, including increasing awareness for early disease diagnosis and increasing demand for accessible diagnostics.

Advancements in technologies like artificial intelligence and machine learning are expected to create lucrative opportunities in the future. On the other flip side, However, this system is new and involves multiple challenges, including low accuracy within virtual diagnosis and increasing privacy concerns that may restrain the market growth.

The Global virtual diagnostic market is segmented on the basis of diagnosis type, end-users, and region. Based on the base type, the market is divided into gastrointestinal virtual diagnostics market and ophthalmology virtual diagnostics market and cardiology virtual diagnostics market and pathology virtual diagnostics market, and other virtual diagnostics markets. On the basis of end-users, the market is divided into hospitals, specialty clinics, and ambulatory surgical centers, and others (home care and research institutes). Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among that Europe held the largest share of the market, followed by America and the Asia Pacific. On the other hand, North America is expected to dominate the market during the analysis of the forecast period.

The key players of this market include AliveCor Inc., Cardiologs Technologies, CapsoVision, Inc., Eyenuk, Inc., Ltd., hearX IP (Pty) Ltd., Hill-Rom Holdings, Inc., IDx Technologies Inc., Medtronic Plc., Monitored Therapeutics Inc., Olympus Corporation, Phelcom Technologies, ResApp Health Limited, Sight Diagnostics, SkinVision among others.

  • AliveCor Inc.
  • Cardiologs Technologies
  • CapsoVision, Inc.
  • Eyenuk, Inc.
  • Ltd.
  • hearX IP (Pty) Ltd.
  • Hill-Rom Holdings, Inc.
  • IDx Technologies Inc.
  • Medtronic Plc.
  • Monitored Therapeutics Inc.
  • Olympus Corporation
  • Phelcom Technologies
  • ResApp Health Limited
  • Sight Diagnostics
  • SkinVision
  • Other Prominent Players

Global Virtual Diagnostic Market segmentation:

Global Virtual Diagnostic Market Revenue (US$ Mn) by Diagnosis Type

  • Gastrointestinal Virtual Diagnostics
  • Ophthalmology Virtual Diagnostics
  • Cardiology Virtual Diagnostics
  • Pathology Virtual Diagnostics
  • Others Virtual Diagnostics

Global Virtual Diagnostic Market Revenue (US$ Mn) Based on End Users

  • Hospitals
  • Specialty Clinics and Ambulatory Surgical Centers
  • Others (Homecare and Research Institutes)

Global Virtual Diagnostic Market Revenue (US$ Mn) Based on Region

Europe Virtual Diagnostic Market Revenue (US$ Mn) by Country

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

North America Virtual Diagnostic Market Revenue (US$ Mn) by Country

  • U.S.
  • Canada

Asia Pacific Virtual Diagnostic Market Revenue (US$ Mn) by Country

  • India
  • China
  • Japan
  • South Korea
  • Australia & New Zealand

Latin America Virtual Diagnostic Market Revenue (US$ Mn) by Country

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa Virtual Diagnostic Market Revenue (US$ Mn) by Country

  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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