The Boom of the Telemedicine Market
The telemedicine market is currently experiencing rapid growth, which is expected to continue until 2032. According to forecasts by Fortune Business Insights, the market is expected to reach a volume of approximately $112 billion by 2025. Companies specializing in telemedicine are benefiting from this trend and achieving increasing profits. Here are seven profitable stocks that are benefiting from the growth of the telemedicine market:
1. Doximity
Description: Doximity is a leading company in telemedicine, specializing in digital solutions for medical professionals. It is experiencing rapidly growing business with high profitability.
Growth: Doximity’s revenues are continuously increasing, making it an attractive investment in the telemedicine sector.
2. Hims & Hers Health
Description: Hims & Hers Health operates a telemedicine platform that connects consumers with licensed medical professionals. The company offers consultations, prescriptions, and ongoing care. It also sells a variety of health and wellness products.
Growth: Hims & Hers Health is profitable and steadily growing. The acquisition of the European telemedicine platform Zava has expanded the company by 1.3 million users and fostered its international expansion.
3. Veeva Systems
Description: Veeva Systems is a cloud software company specializing in applications for the pharmaceutical and life sciences industry. It offers platforms that enable the integration of telemedicine into the processes of pharmaceutical companies and research institutions.
Growth: Veeva Systems is very profitable and experiencing high growth rates, making it an important player in the telemedicine sector.
4. Teladoc Health
Description: Teladoc Health is a leading company in virtual healthcare. It offers a wide range of telemedicine services, including virtual doctor visits and health consultations.
Growth: Teladoc Health has established itself as a pioneer in the telemedicine sector and benefits from the increasing demand for virtual health services.
5. American Well
Description: American Well, also known as Amwell, offers a platform for virtual doctor visits and health services. It works with healthcare providers and insurers to give patients access to telemedicine.
Growth: American Well is experiencing strong growth as it adapts to the needs of healthcare providers and patients.
6. 1Life Healthcare
Description: 1Life Healthcare, known under the brand One Medical, offers a membership-based healthcare service that includes telemedicine services. It focuses on personalized and coordinated care.
Growth: 1Life Healthcare is growing through the integration of telemedicine into its existing services and expansion into new markets.
7. Optum (UnitedHealth Group)
Description: Optum is a part of UnitedHealth Group and offers a wide range of health services, including telemedicine. It uses data analytics and technology to improve the efficiency of healthcare.
Growth: Optum benefits from the growing demand for integrated healthcare services, including telemedicine, and is an important player in the healthcare sector.