Dublin, Jan. 09, 2025 (GLOBE NEWSWIRE) — The “Virtual Care Market by Consultation Mode, by Application, by End-User, and By Region” report has been added to ResearchAndMarkets.com’s offering.
The global virtual care market is estimated to be USD 8.86 billion in 2024 and is expected to reach USD 193.86 billion by 2035, with a CAGR of 32.38% during the forecast period 2025-2035.
The market will grow as a result of several factors, including rising demand for remote healthcare services, technological developments in digital health, rising demand for easily accessible and convenient healthcare, supportive government regulations and reimbursement schemes, and the expansion of digital health startups and investments.
Advancements in artificial intelligence (AI) and machine learning are significantly enhancing the capabilities of virtual care platforms, allowing for personalized patient care, predictive analytics, and real-time health monitoring. These technologies improve diagnostic accuracy, optimize treatment plans, and support clinical decision-making processes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, widespread adoption of advanced telehealth technologies, and supportive government policies, such as reimbursement for virtual care services.
Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing digitalization of healthcare, rising smartphone penetration, and growing demand for remote healthcare solutions in countries like China, India, and Japan. For instance, Confluence Health, a healthcare organization based in Washington, teamed up with KeyCare, a virtual care provider, in October 2024 to enable patients to travel easily throughout Washington or receive care around-the-clock from home.
For example, in March 2023, Koninklijke Philips N.V., a leading health technology company, launched Philips Virtual Care Management, a comprehensive portfolio of flexible services and solutions designed to help healthcare organizations, payers, providers, and employer groups connect with patients from virtually anywhere. ?This development underscores the increasing importance of virtual care in delivering efficient and accessible healthcare solutions.
By consultation mode, the audio segment accounted for the highest revenue-grossing segment in the global virtual care market in 2024 owing to the widespread adoption of telephonic consultations, especially among older adults who may have limited access to video technology and prefer the simplicity of audio communication.
For instance, the U.S. FDA established a new Digital Health Advisory Committee in October 2023 to address concerns about digital health technologies (DHTs) and eventually advance the use of DHTs in healthcare. Additionally, the video segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for face-to-face interaction between patients and healthcare providers, which enhances patient trust and engagement.
By application, the family medicine segment accounted for the highest revenue-grossing segment in the global virtual care market in 2024 owing to the extensive use of virtual care for routine check-ups, preventive care, and chronic disease management.
For instance, Wheel Health, Inc., a supplier of a virtual care platform, introduced its platform in September 2023 to assist corporate enterprises in creating seamless care experiences. Additionally, the others segment is predicted to grow at the fastest CAGR during the forecast period owing to its diverse range of specialized applications, including mental health therapy, dermatology, and postoperative care.
By end-user, the hospitals and clinics segment accounted for the highest revenue-grossing segment in the global virtual care market in 2024 owing to the extensive implementation of telehealth services for outpatient consultations, follow-up visits, and emergency care.
For instance, a September 2023 article in the Mayo Clinic Proceedings: Digital Health journal claims that more than 21 million Americans reside in “digital deserts” – areas without broadband. Residents of both rural and urban areas are impacted by this problem. For these people, audio-only visits have been an effective way to get around obstacles to care, like lack of transportation, mobility problems, and a shortage of clinicians in the area. Additionally, the pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend of virtual consultations for prescription refills, medication counseling, and chronic disease management.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 – 2034 |
| Estimated Market Value (USD) in 2023 | $8.86 Billion |
| Forecasted Market Value (USD) by 2034 | $193.86 Billion |
| Compound Annual Growth Rate | 32.3% |
| Regions Covered | Global |
Report Scope:
- Base Year: 2024
- Forecast Period: 2025-2035
- Study Coverage
- Market Forecast by Component Mode, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Companies Featured
- Teladoc Health, Inc.
- Amwell
- Doctor on Demand
- MDLive, Inc.
- Livongo Health
- Babylon Health
- HealthTap
- Vivify Health
- Telenor Health
- Doxy.me
- Cigna Telehealth Solutions
- Roche Diagnostics
- Ping An Good Doctor
- MeDoctor
- Practo
Virtual Care Market Analysis & Forecast by Component Mode 2024 – 2035 (Revenue USD Bn)
Virtual Care Market Analysis & Forecast by Application 2024 – 2035 (Revenue USD Bn)
- Family Medicine
- Internal Medicine
- Cardiology
- Pediatrics
- Endocrionology
- Rheumatology
- Pulmonology
- Others
Virtual Care Market Analysis & Forecast by End-User 2024 – 2035 (Revenue USD Bn)
- Hospitals and Clinics
- Pharmacies
- Others
Virtual Care Market Analysis & Forecast by Region 2024 – 2035 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/5ui01a
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- Global Virtual Care Market
