The market size of the Healthcare Video Conferencing Solutions Market was around USD 87 Million in 2022 and is expected to grow with a CAGR of 5.5% from 2023 to 2033. The market is expected to account for an absolute dollar opportunity of nearly USD 156.7 Million from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Healthcare Video Conferencing Solution Market (2023) | USD 91.7 Million |
| Global Healthcare Video Conferencing Solution Market (2033) | USD 156.7 Million |
| Global Healthcare Video Conferencing Solution Market CAGR (2023 to 2033) | 5.5% |
| The USA Healthcare Video Conferencing Solution Market CAGR (2023 to 2033) | 5.1% |
| Key Companies Profiled | Adobe; Pexip AS; Zoom Video Communications, Inc.; Intrado Corporation; Vidyo, Inc.; Plantronics, Inc.; Logitech; Huawei Technologies Co., Ltd.; Cisco; Avaya Inc. |
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As per the Healthcare Video Conferencing Solutions Market industry research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market increased at around 5.5% CAGR. With an absolute dollar opportunity of USD 65 Million, the market is projected to grow at a CAGR of 5.5% over the coming ten years.
The market for healthcare video conferencing solutions is projected to grow at a significant pace owing to technological advancements such as the debut of 5G technology and the increasing implementation of telemedicine resolutions.
The market's development was also influenced by technical advancements brought by several firms, particularly during Covid-19. The healthcare industry, like many others, has a diverse set of video conferencing requirements, including low power, very low latency, incredible speed, and more bandwidth. This is because various data-intensive applications, such as video applications, virtual reality, and augmented reality, have become a reality.
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During the projected period, the Healthcare and Life Sciences vertical is expected to develop at a faster pace. On a daily basis, the healthcare and life sciences sector is exposed to a wide range of clinical, administrative, and financial material. As a result, channeled content insights and correct clinical information are required, which can be aggregated through a video conferencing solution.
The partnerships allow healthcare practitioners in telemedicine and patient care, medical education, and healthcare management applications to provide better communication choices to their patients, allowing them to provide better care. Patients, healthcare teams, and family members can meet face-to-face to discuss various treatment scenarios, regardless of where they are in the world.
Video conferencing aids in patient monitoring, consultation, and counseling.
In the healthcare and life sciences vertical, the video conferencing market is now experiencing substantial growth potential. The growing demand for video solutions to improve clinical partnerships, staff training, medical education, and healthcare communication can be ascribed to this expansion.
Healthcare firms are now concentrating on improving their total IT infrastructure in order to provide better medical services. The increasing usage of healthcare IT systems in the healthcare sector is the most significant factor driving the market growth. Furthermore, the government encourages the development of healthcare IT solutions, which supports the healthcare video conferencing business.
Government spending on healthcare IT is high in several nations, including the United States, Germany, the United Kingdom, Switzerland, Australia, and the Middle East. As a result, in the forthcoming years, healthcare video conferencing markets in these countries are likely to rise rapidly.
North America accounted for a significant share of the global healthcare video conferencing solutions market in 2022. The increased acceptance of video-conferencing technologies in the healthcare business has led to regional market growth.
Increased demand for continuous access to high-end virtual doctor-patient conferences is expected to boost the market growth. The presence of key corporations in the region is anticipated to stimulate market growth.
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The market in the USA is expected to grow at a CAGR of 5.1% from 2023 to 2033, to reach a valuation of USD 51.9 Million by 2033. During the forecast period, the market is projected to witness an absolute dollar opportunity of USD 20.4 Million.
The market in the UK is expected to reach a valuation of USD 6.7 Million by 2033. Growing with a CAGR of 5.1% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of around USD 2.6 Million.
In Japan, the market is expected to grow at a CAGR of 7.5% from 2023 to 2033, reaching around USD 6.7 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of USD 3.4 Million during the forecast period.
The market in South Korea is expected to reach a valuation of around USD 3 Million by 2033, growing at a CAGR of 5% from 2023 to 2033. The market in the country is expected to witness an absolute dollar opportunity of around USD 1.2 Million.
In 2020, the on-premise segment was the significant revenue-generating segment in the Healthcare Video Conferencing Solutions Market, accounting for over 55% of sales. The revenue through this segment grew with a CAGR of 5.9% in the last five years and is expected to grow with a CAGR of 5.6% from 2023 to 2033.
The growing popularity of on-premise deployment by a variety of enterprises, particularly large-scale institutions, can be attributed to the growing concerns about data theft as well as well-organized information security arrangements. In addition, the increased penetration of these resolutions is likely to boost the market growth.
During the projected period, cloud-based deployment is expected to grow at a significantly higher rate. End users benefit from cloud-based solutions because they provide seamless access to video conferencing services through a range of channels, including laptops and mobile devices.
Similarly, service providers emphasize the use of a SaaS platform to provide conferencing services. Cloud resolutions that are encrypted and password protected are also expected to drive market growth. Furthermore, market expansion is expected to be aided by the increasing concentration of corporations in the section.
During the pandemic, healthcare providers used video conferencing technology to bring assistance to patients suffering from a variety of diseases or health problems. Doctors were able to tailor their services to the individual needs of their patients owing to this technology.
Key players in the Healthcare Video Conferencing Solutions Market include Adobe, Pexip AS, Zoom Video Communications, Inc., Intrado Corporation, Vidyo, Inc., Plantronics, Inc., Logitech, Huawei Technologies Co., Ltd., Cisco, and Avaya Inc.
A few recent developments in the Healthcare Video Conferencing Solutions market are:
The valuation of the healthcare video conferencing solutions market reaches a notable sum of USD 91.7 million in 2023.
The healthcare video conferencing solutions market is estimated to achieve a valuation of USD 156.7 million by 2033.
The healthcare video conferencing solutions market is poised to witness a 5.5% CAGR upswing in demand through 2033.
The prominent trend in the healthcare video conferencing solutions market is the rapid adoption of telemedicine and virtual healthcare services.
The on-premise segment is positioned to sustain its preference in the market, holding a significant market share of 55%.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background and Foundation Data Points 5. Key Success Factors 6. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 8.1. On-premise 8.2. Cloud-based 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 9.1. Software 9.2. Hardware 9.3. Services 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 10.5. Middle East and Africa (MEA) 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Key Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Market Structure Analysis 18. Competition Analysis 18.1. Adobe 18.2. Pexip AS 18.3. Zoom Video Communications, Inc. 18.4. Indtrado Corporation 18.5. Vidyo, Inc. 18.6. Plantronics, Inc. 18.7. Logitech 18.8. Huawei Technologies Co., Ltd. 18.9. Cisco 18.10. Avaya Inc. 19. Assumptions and Acronyms Used 20. Research Methodology
Healthcare
June 2024
REP-GB-14775
250 pages
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Healthcare Video Conferencing Solutions Market
