The telemedicine market is currently experiencing rapid growth, leading to increasing profits for companies in this sector. This development offers private investors and savers interesting investment opportunities in the healthcare sector. Here are seven profitable stocks that could benefit from the growth of the telemedicine market:
1. Doximity
Doximity is known for its rapid growth and high profitability. Although specific details are not mentioned in the provided information, Doximity is a key player in the field of telemedicine and digital health services.
2. Hims & Hers Health
Hims & Hers Health operates a telemedicine platform that connects consumers with licensed medical professionals. The company offers consultations, prescription issuance, and ongoing care, and sells health and wellness products through its website and app. Hims & Hers recently acquired the European telemedicine platform Zava, significantly expanding its user base.
3. Veeva Systems
Veeva Systems is a cloud software company that specializes in applications for the pharmaceutical and life sciences industry. It provides platforms that enable the integration of telemedicine into the processes of pharmaceutical companies, research institutions, and medical device firms. Veeva Systems is highly profitable and growing at a fast pace.
4. Teladoc Health
Teladoc Health is a leading provider of telemedicine services, offering a wide range of virtual health services. Although Teladoc is not explicitly mentioned in the provided information, it is a significant player in the telemedicine market.
5. American Well
American Well, also known as Amwell, also offers comprehensive telemedicine services and collaborates with healthcare providers and insurers to provide patients access to virtual health services.
6. 1Life Healthcare (One Medical)
1Life Healthcare, known through its brand One Medical, provides members access to virtual and in-person health services. Although One Medical is not directly mentioned in the provided information, it is an important player in the field of digital healthcare.
7. Optum (UnitedHealth Group)
Optum, part of UnitedHealth Group, offers a variety of health services, including telemedicine. Although Optum is not explicitly mentioned in the provided information, it is a significant player in the healthcare sector and could benefit from the growth of the telemedicine market.
The telemedicine market is expected to continue growing until 2032, with a projected volume of over $112 billion by 2025. This development offers investors an attractive opportunity to invest in the growing healthcare sector.