By Michelle Jones. Originally published at ValueWalk.
The global Telehealth market is expected to grow exponentially, reaching a market size of over USD 190 billion by 2025 and exhibiting a CAGR of 37.7%. We take a closer look at what leaders in the field are doing:
Q4 2020 hedge fund letters, conferences and more
The Telehealth and Telemedicine industry have demonstrated a prolific amount of success in the battle against the COVID-19 virus. This is because they have enabled individuals to consistently access their doctors and any other health specialists they wish via an online platform, and consequently without having to necessarily risk potentially jeopardizing their health as a result of the pandemic.
Unsurprisingly, therefore, this area has seen a remarkable amount of market growth in the last year or so, with leading industry colossal figures such as Teladoc Health and FDNA Telehealth openly articulating their consequent surge in demand for their online consultations and all other telehealth services between the years 2019 and 2020.
This is logically consistent with the effect that the COVID-19 pandemic has had on some of the more traditional ways of seeking medical consultations, which have seen a significant drop in demand due to the critically deteriorated condition of the Health Industry as a result of the pandemic and the consequent effect that has had on face-to-face appointments and scheduled surgeries.
The Birth of Online Genetic Diagnoses: A Quick Overview
Genetic diagnosis is a rising trend as awareness spreads. The peak of the aforementioned pandemic has led to the creation of a prolific amount of innovative and inspiring inventions in the Telehealth market. These include the introduction of a completely virtual online genetic diagnosis program, which is provided by eminent Telehealth provider FDNA Telehealth.
This is done through the following steps:
a) The future recipient of the online diagnosis provides the clinician with a photograph of themselves. This is used by FDNA’s private AI technology and allows the company’s team of genetic experts to analytically examine a patient’s genetic profile before moving on to the next step.
b) Next, FDNA Telehealth’s team will utilize their aforementioned AI software in conjunction with a client’s provided photograph and then move on to effectively detect the prolific amount of genetically distinct anatomical patterns which are unique to that person – comparing them with a plethora of different health syndromes and effectively creating a genetic report.
c) Moving on, the company will then commonly set up an online genetic counseling meeting between the client and one of their team’s genetics experts, genetic counselors, and geneticists. This is done to both: i) to ensure a holistically balanced review is conducted on a case by case basis, and ii) to allow the relevant coordinators to liaise directly with the client and establish an ideal time and date for the next step.
d) Lastly – after a suitable specialist is allocated from FDNA Telehealth’s prolific team of clinical genetic experts, the results provided are further analyzed, and an arrangement is scheduled for the consequent delivery of the relevant required tests which are tailored to the specific client in question and allow for a much wider range of genetic conditions to be identified – a crucial step towards completing the online genetic diagnosis.
COVID-19 And Telehealth: A Further Analysis
As already briefly explored, it is no secret that the unprecedented COVID-19 pandemic has severely exacerbated the health of the population on a global level.
In turn, however, this has inadvertently shed light on the enormous potential of the Telehealth industry by allowing the market to inadvertently showcase the plethora of innovative medical alternatives and corporate responses which have been developed as a result of the unprecedented worldwide health crisis.
There are ample academic research and government data which sufficiently illustrate the surprisingly efficacious role that telemedicine has had in light of the disastrous COVID-19 virus; the role of telehealth has allowed leading experts to: a) engage in more efficacious treatment methods for patients, b) gather a sufficient amount of relevant information, and c) assist in the development and preparation of the consequent future vaccinations.
Final Take
As a final take, it should be duly noted that regardless of the fact that the beginning of the end of the COVID-19 pandemic is approaching, the projected growth of the industry is quite prolific- with a market size that is projected to reach over USD 550 billion by the year 2027.
This is likely an indication of a much much less ‘conventional’ telehealth-orientated future and may pave the way towards a future generation of predominantly software-oriented solutions, online consultations, and virtual genetic diagnoses.
The post As Pandemic Boosts Telehealth, FDNA Telehealth Makes Online Genetic Diagnosis A Global Reality appeared first on ValueWalk.
Sign up for ValueWalk’s free newsletter here.
