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COVID-19 And The Future Of Virtual Healthcare

Katrina Savell | 25 Apr 2021

Over the past year, telehealth services across our global healthcare system have exploded. Meanwhile, international leaders have acknowledged the urgent requirement for healthcare reform - with the need to focus on preventative health care. What does this mean for the future of global health?

Read our FREE report to learn what this means for the future of the healthcare industry.

The Future of Health and Wellness

COVID-19 has changed the way we live, and the way we can expect to live for the near future. As people realise that the vaccine will not be a miracle cure, they are coming to terms with a ‘COVID-normal’ world in which digital interaction is a necessity. 

The upheaval caused by COVID-19 has impacted industries globally, with the health industry arguably the most affected. In 2020, the World Health Organization (WHO) conducted a pulse survey of 105 countries, with 90% of respondents reporting disruptions to essential health services since COVID-19.

However, testing conducted due to COVID-19 has resulted in some positive outcomes, such as increased data around the indicators of public health. One finding from that data is that people living with non-communicable diseases (NCDs) have a higher risk of developing complications if they contract COVID-19. With over 70% of deaths worldwide caused by NCDs, there is acknowledgement from global leaders that there is an urgent requirement for healthcare reform and a need to focus on preventative health care.

Despite the difficulties and loss caused by the pandemic, many would agree that it has been a privilege to witness the resilience and creativity we as humans possess. While many businesses and organisations were not equipped to operate in a predominantly online world, they have been able to change their operations and offerings to respond to this challenge. A global survey by McKinsey & Company found that COVID-19 has accelerated the adoption of technology by several years, while telehealth services have exploded and its market size expected to triple in less than 10 years.  

Another silver lining that has come from the increased awareness of our mortality is the spotlight on health and wellbeing. The wellness industry, which encompasses complementary medicine (CM), is having a growth moment – with the market value of complementary medicine estimated to grow to $4.4 billion by 2021-22 in Australia. 2020 saw people become reliant on online offerings that are accessible and can support them through any crisis. As consumers become digital natives, complementary therapists have increased reach, influence and opportunities. Barriers to participation in activities or therapies due to location, time or cost constraints are now removed, and practitioners have the prospect of shifting their platform from the local neighbourhood to an international stage.

DOWNLOAD THE WHITEPAPER ‘COVID-19 and the Future of Healthcare’ here for more insight into global wellness trends and the way health industries have adapted to the COVID-19 pandemic.

References

World Health Organization Pulse Survey | WHO

Advice for people at risk of coronavirus (COVID-19) | health.gov.au

Noncommunicable Diseases Progress Monitor 2020 | WHO

How COVID-19 has pushed companies over the technology tipping point—and transformed business forever | McKinsey & Company

Telemedicine Market Size Worth $298.9 Billion By 2028 - CAGR: 22.4% | Grand View Research

Market Research Report | ibisworld.com

About Katrina Savell

Katrina Savell is our Chief Marketing and Communications Officer at SoulAdvisor and is widely regarded as a purpose-driven researcher, writer, and marcomms strategist committed to improving global health & wellness. Katrina's other passions include movement, the arts, submerging in nature and creating a wonderful future for our children.

Disclaimer: This Content has been developed from our generous global community and is intended for informational purposes only. This Content is not, nor is it intended to be, a substitute for professional medical advice, diagnosis, or treatment and should never be relied upon. Further, the personal views and experiences published are expressly those of the author, and do not represent the views or endorsement of SoulAdvisor through the act of publication on our site.