VIRTUAL HEALTH SERVICE MARKET ANALYSIS

Market News

Recent Developments

New product launches

• Emmaus Medical, Inc. : In April 2022, Emmaus Medical, Inc., a biopharmaceutical company, announced the launch of an innovative full-service telehealth solution with its strategic partners including Asembia LLC, a pharmaceutical company, US Bioservices Corporation, a specialty pharmaceutical distribution and services company, and UpScriptHealth, an online platform offering teleconsultation and medication delivery services, to fund on the expansion of telemedicine in the U.S. to provide patients and providers on-line access to Endari, the company's prescription-grade L-glutamine oral powder, for the treatment of sickle cell disease.
• CVS Health Virtual Primary Care: In May 2022, CVS Health, a pharmacy company, announced the launch of CVS Health Virtual Primary Care, a new virtual care solution available through a single digital platform. The offering connects CVS Health’s services, clinical expertise, and data for a more coordinated and consumer-centric health care experience. Demonstrating CVS Health’s bold strategy to improve primary care, the new solution enables consumers to choose care when and where they want – in a retail or community-based setting, through at-home health services, or virtually.
• Abbott NeuroSphere Virtual Clinic: In March 2021, Abbott, a company that develops, manufactures, and sells a diversified range of healthcare products, announced the U.S. launch of NeuroSphere Virtual Clinic, a first-of-its-kind technology that allows patients to communicate with physicians in real time, ensure proper settings and functionality, and receive new treatment settings remotely as needed.
• Amazon Clinic: In 2021, Amazon, E-commerce company, launched a new virtual doctor marketplace that connects consumers with virtual doctors who can diagnose, treat, and prescribe medication for a range of common health conditions.

 Acquisition and partnerships

• On February 22, 2023, Amazon.com, Inc., a multinational technology company, announced the acquisition of One Medical, a primary care company. Through this acquisition, around 200 physical sites and exclusive telehealth technology were added to Amazon.com, Inc.'s healthcare division. One Medical's services and technology include in-office and 24/7 virtual care services, on-site labs, and programs for preventive care, one medical application that enables 24/7 video chats and in-app messaging, same and next-day availability for in-person or virtual physician visits.
• In January 2022, Coviu, a U.S.-based telehealth startup, announced that it had entered into a partnership with Propell Health, a company that offers technology solutions, to launch an integrated telehealth and Remote Patient Monitoring (RPM) solution for the management of COVID-19 patients
• Evernorth's acquisition of MDLIVE: In 2021, Evernorth, the health services portfolio of Cigna, acquired MDLIVE, a leading virtual care platform. This acquisition provided Evernorth a major foothold in the virtual care market, and expanded its capabilities to deliver more convenient and affordable care to patients.