Virtual Health Service Market Report 2025

This virtual health service market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The virtual health service market size has grown exponentially in recent years. It will grow from $13.58 billion in 2024 to $17.74 billion in 2025 at a compound annual growth rate (CAGR) of 30.7%. The growth in the historic period can be attributed to increase adoption of smartphones and tablets, rise in demand for convenient healthcare, growth in incidence of chronic diseases, increase focus on patient engagement, and increase demand for remote patient monitoring.

The virtual health service market size is expected to see exponential growth in the next few years. It will grow to $51.28 billion in 2029 at a compound annual growth rate (CAGR) of 30.4%. The growth in the forecast period can be attributed to increasing adoption of telehealth services, rising demand for remote patient monitoring, expansion of digital health platforms, increasing focus on patient centric care, and growing need for mental health services. Major trends in the forecast period include integration of telehealth platforms, development of personalized virtual health solutions, adoption of virtual reality for therapy, integration of wearable technology, and integration of digital therapeutics.

The rising adoption of telemedicine is anticipated to drive the growth of the virtual health service market in the future. Telemedicine involves delivering healthcare services and consultations through electronic communication tools, allowing patients to receive medical care from the comfort of their homes. The increasing use of telemedicine is propelled by technological advancements, a growing patient desire for convenience, and initiatives aimed at improving healthcare access. Virtual health services play a crucial role in supporting telemedicine by providing the necessary digital infrastructure and tools for remote consultations, enabling healthcare providers to diagnose, treat, and monitor patients without requiring in-person visits. For example, in July 2023, the Ministry of Justice, a UK-based government department, reported that the number of individuals fitted with a GPS location monitoring device reached 8,028 as of June 30, 2023, marking a 67% increase from 4,799 on the same date in 2022. Consequently, the growing adoption of telemedicine is driving the expansion of the virtual health service market.

Leading companies in the virtual health service market are focusing on developing integrated virtual care solutions to enhance patient management, streamline healthcare delivery, and improve access to medical services. Integrated virtual care refers to a comprehensive digital health system that combines various virtual services such as telemedicine, remote monitoring, and digital health records. This integration streamlines healthcare delivery, improves patient access, and coordinates care across different platforms. For example, in October 2022, PointClickCare Technologies, a Canada-based healthcare technology company, launched its Virtual Health offering. This telemedicine solution is designed to improve collaboration and provide real-time insights for skilled nursing facilities (SNFs) across the country. The technology integrates seamlessly into existing workflows, enhancing patient care, increasing staff satisfaction, and reducing costs by stabilizing occupancy rates and minimizing readmissions. The launch represents a significant advancement in the virtual health service market, addressing the need for efficient telehealth solutions and fostering innovation in post-acute care.

In June 2024, Fabric Health, a US-based healthcare technology company, acquired Memd, Inc. for an undisclosed amount. This acquisition aims to strategically enhance Fabric Health’s employer and payer solutions, improve behavioral health services, and streamline care delivery through AI. By integrating MeMD’s platform, Fabric Health intends to offer more accessible and cost-effective healthcare to millions while expanding its customer base. Memd, a US-based company, specializes in telehealth services, including virtual consultations for both medical and mental health needs, providing convenient access to care from home.

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.

North America was the largest region in the virtual health service market in 2023. The regions covered in the virtual health service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the virtual health service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Virtual health service refers to the provision of healthcare services and consultations through digital platforms, allowing patients to connect with healthcare providers remotely via video calls, phone calls, or online messaging. This method provides convenient, accessible, and timely medical care, including diagnosis, treatment, monitoring, and follow-up, without the need for in-person visits.

The virtual health service market consists of software and services, as well as hardware. In this context, software refers to the digital platforms used for remote healthcare delivery, while services cover the support and operational activities necessary for the effective use of these tools. Various consultation modes include video, audio, messaging, and kiosks, with applications spanning general medicine, mental health, dermatology, chronic condition management, remote surgery assistance, nutrition and fitness, women's health, and pediatrics. Delivery modes include web-based, app-based, and phone-based systems, serving diverse end users such as patients, healthcare providers, payers, employers, and others.

The virtual health service market research report is one of a series of new reports that provides virtual health service market statistics, including the virtual health service industry global market size, regional shares, competitors with virtual health service market share, detailed virtual health service market segments, market trends, and opportunities, and any further data you may need to thrive in the virtual health service industry. These virtual health service market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The virtual health service market consists of revenues earned by entities by providing services such as virtual therapy sessions, online diagnostics, e-prescriptions, health coaching, and wellness programs. The market value includes the value of related goods sold by the service provider or included within the service offering. The virtual health service market also includes sales of smartwatches, fitness bands, and medical-grade wearables. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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