Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

What key factors are powering the surge in the virtual health service market right now?

The market size of virtual health services has seen a remarkable increase in the past few years. It is expected to augment from a worth of $13.58 billion in 2024 to a valuation of $17.74 billion in 2025, reflecting a compound annual growth rate (CAGR) of 30.7%. Factors contributing to this growth during the historic period include enhanced smartphone and tablet utilization, a surge in convenient healthcare preferences, an escalation in chronic illness cases, a rising emphasis on patient involvement, and an elevated demand for remote patient monitoring.

How fast Is the virtual health service market expected to grow, and what’s its future value?

The market size of the virtual health service is projected to experience a significant surge in the near future. The figure is predicted to ascend to $51.28 billion in 2029, with a compound annual growth rate (CAGR) pegged at 30.4%. Several factors underpin the growth in the projected period, such as the augmenting adoption of telehealth services, an escalating demand for remote patient monitoring, the broadening of digital health platforms, an heightened accentuation on patient-centred care, and an increasing necessity for mental health services. Key trends expected to mark the forecast period are the incorporation of telehealth platforms, the evolution of personalized virtual health responses, the implementation of virtual reality for therapeutic treatments, the inclusion of wearable technology, and the integration of digital therapeutics.

Get your virtual health service market report here!

https://www.thebusinessresearchcompany.com/report/virtual-health-service-global-market-report

What are the leading drivers of growth in the virtual health service market?

The growth of the virtual health service market is anticipated to be fueled by the rising adoption of telemedicine. Telemedicine involves providing healthcare services and consultations via electronic communication methods, allowing patients to receive medical attention from the comfort of their homes. This growing trend in telemedicine is propelled by technological advancements, a heightened patient need for convenience, and attempts to improve access to healthcare. Virtual health services bolster telemedicine by establishing the necessary digital infrastructure and instruments for remote patient consultations, helping healthcare providers to diagnose, treat and oversee patients without requiring face-to-face visits. For example, the Ministry of Justice, a government department based in the UK, reported that as of June 30, 2023, the number of individuals equipped with a location tracking device (GPS) increased by 67% to 8,028 from 4,799 as of June 30, 2022. Hence, the rising use of telemedicine is playing a significant role in propelling the virtual health service market.

What are the key segments defining the virtual health service market?

The virtual health service market covered in this report is segmented –

1) By Component: Software And Services, Hardware

2) By Consultation Mode: Video, Audio, Messaging, Kiosks

3) By Specialty And Use Case: General Medicine, Mental Health, Dermatology, Chronic Condition Management, Remote Surgery Assistance, Nutrition And Fitness, Women’s Health, Pediatrics

4) By Mode Of Delivery: Web Based, App Based, Phone Based

5) By End User: Patients, Healthcare Providers, Payers, Employers, Other End Users

Subsegments:

1) By Software and Services: Telemedicine Software, Health Monitoring Software, Electronic Health Records (EHR) Systems, Mobile Health Applications, Remote Patient Monitoring Services, Consultation Services, Analytics and Reporting Services

2) By Hardware: Telehealth Kits, Medical Devices for Remote Monitoring, Computers and Tablets, Wearable Health Devices, Video Conferencing Equipment

Get your free sample now – explore exclusive market insights:

https://www.thebusinessresearchcompany.com/sample.aspx?id=20691&type=smp

Who are the key players steering the development of the virtual health service market?

Major companies operating in the virtual health service market are CVS Health Corporation, McKesson Corporation, Cardinal Health Inc., Cigna Group, Elevance Health Inc., Centene Corporation, Dell Technologies Inc., Cisco Systems Inc., Qualcomm Incorporated, Epic Systems Corporation, Teladoc Health Inc., Babylon Health Limited, Allscripts Healthcare Solutions Inc., WELL Health Technologies Corp., American Well Corporation, MDLive Inc., Doctor On Demand Inc., HealthTap Inc., TytoCare Ltd., 98point6 Inc., Medici Inc., VSee Lab Inc., Doxy.me LLC, eVisit Inc., MDTech Inc., Lemonaid Health Inc.

What emerging trends are influencing the growth of the virtual health service market?

Significant businesses in the virtual health service sector are innovating integrated virtual care to bolster patient management, simplify the delivery of healthcare, and enhance accessibility to medical services. The term integrated virtual care is used to describe a thorough digital health system that amalgamates numerous virtual services like telemedicine, remote monitoring, and digital health records. This integration eases the delivery of healthcare, improves patient access, and efficiently coordinates care across diverse platforms. For instance, October 2022 saw the launch of a Virtual Health solution by PointClickCare Technologies – a healthcare technology company based in Canada. Aimed at heightening collaboration and real-time insights for nationwide skilled nursing facilities (SNFs), this technology ingeniously integrates into pre-existing workflows. This integration ameliorates patient care, boosts the satisfaction of the staff, and trims down costs by levelling occupancy rates and shrinking readmissions. As a significant progression in the virtual health service market, it caters to the increasing demand for streamlined telehealth solutions and promotes innovation in the area of post-acute care.

Unlock exclusive market insights – purchase your research report now for a swift delivery!

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20691

Which regions are most influential in expanding the virtual health service market?

North America was the largest region in the virtual health service market in 2024. The regions covered in the virtual health service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Browse Through More Similar Reports By The Business Research Company:

Virtual Reality In Healthcare Global Market Report 2025

https://www.thebusinessresearchcompany.com/report/virtual-reality-in-healthcare-global-market-report

Equine Healthcare Global Market Report 2025

https://www.thebusinessresearchcompany.com/report/equine-healthcare-global-market-report

Connected Healthcare Global Market Report 2025

https://www.thebusinessresearchcompany.com/report/connected-healthcare-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: