Global Virtual Care Market Worth $50.28 Billion by 2029, Growing at 28.2% CAGR

Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.

Virtual Care Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size for virtual care has seen a substantial increase in the past years. The projection is that it will expand from $14.52 billion in 2024 to a staggering $18.64 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 28.4%. The earlier growth in this sector can be traced back to the increased uptake of telemedicine, the growing occurrence of chronic ailments, an increased patient need for distant care, escalating costs of healthcare, along with an increased usage of smartphones as well as the internet.

What Is the Expected CAGR for the Virtual Care Market Growth Through 2029?
In the coming years, the market size for virtual care is projected to undergo significant expansion. The projected value is expected to reach $50.28 billion in 2029, growing at a compound annual growth rate (CAGR) of 28.2%. Factors contributing to this growth during the projected period include a surge in demand for easily accessible healthcare, increased governmental support and funding, an escalating focus on patient-oriented care, rising adoption of remote monitoring, and growing investments in the healthcare sector. The forecast period is also likely to see major trends in enhanced digital health platforms, integration of AI-driven diagnostics, technology-mediated remote monitoring, progress in hybrid care models, and improvements in wearable health tech devices.

Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/virtual-care-global-market-report

What Are the Primary Drivers Behind Virtual Care Market Growth?
The surge in preference for telehealth services is predicted to push the expansion of the virtual care market in the coming years. Digital technologies are used in telehealth services to offer healthcare from a distance, enabling virtual consultations, diagnosis, monitoring and treatments between patients and providers. This rise in usage of such services is due to people seeking a quicker, safer, and more convenient way to receive healthcare, which includes remote consultations, continuous monitoring, and less required travel. Telehealth services make virtual care possible by allowing patients to engage with healthcare professionals remotely, enhancing the ease of access, convenience, and ongoing care, whilst reducing the necessity for face-to-face appointments. For example, a report by Rock Health, a venture capitalist firm based in the United States, stated that in February 2023, 80% of all respondents claimed to have utilized telemedicine services at some stage in their life. This is an increase of 8 percentage points from the 72% recorded in 2021. Hence, the surge in demand for telehealth services is facilitating the growth of the virtual care market.

Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=25930&type=smp

What Are the Key Segments Driving Virtual Care Market Growth?
The virtual care market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Consultation Type: Video Consultation, Audio Consultation, Messaging
3) By Technology Type: Video Conferencing, Wearable Devices, Mobile Health Applications, Health Information Systems, Remote Monitoring Devices
4) By Application: Diagnostics, Therapeutics, Monitoring And Consultation, Preventive Care, Rehabilitation Services, Other Applications
5) By End User: Patients, Healthcare Providers, Government Organizations, Corporate Wellness Programs, Other End Users

Subsegments:
1) By Hardware: Wearable Devices, Remote Patient Monitoring Devices, Telecommunication Devices, Diagnostic Devices
2) By Software: Telehealth Platforms, Mobile Health Applications, Virtual Consultation Software, Remote Monitoring Software
3) By Services: Remote Patient Monitoring Services, Teleconsultation Services, Technical Support And Maintenance, Training And Implementation Services

What Are the Technological Trends Impacting the Virtual Care Market?
Major firms in the virtual healthcare sector are making strides in introducing inventive solutions like virtual primary care services with an aim to improve care quality, foster patient involvement, and broaden the reach of healthcare facilities. Such services constitute the distant provision of regular healthcare amenities, encompassing routine examinations and chronic disease management via digital communication resources like video or telephone consultation. For example, CVS Health, a healthcare firm based in the U.S., inaugurated its Virtual Primary Care in January 2023. This digital health stage allows virtual primary care visits and around-the-clock on-demand care, thus enhancing the reach, convenience, and persistence of care for patients across the U.S. The innovative virtual care platform provides instant access to primary care and ensures a smooth transition between virtual and face-to-face services. Its flexibility allows the efficient handling of an array of health conditions, whether it's routine examinations or chronic illness care, by taking advantage of digital connectivity and coordinated care teams to improve accessibility and the continuous provision of care.

Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=25930&type=smp

Who Are the Major Competitors in the Global Virtual Care Market?
Major companies operating in the virtual care market are Medtronic plc, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE Healthcare Limited, Teladoc Health Inc., Comarch S.A., American Well Corporation, MDLive Inc., Doctor on Demand Inc., Talkspace Inc., AMC Health Inc., 98point6 Technologies, Altibbi Inc., GlobalMed Inc., Binah.ai Ltd., InTouch Health Inc., Vivify Health Inc., VSee Lab Inc., Biotricity Inc., eVisit Inc., Aerotel Medical Systems Ltd., Chiron Health Inc.

Which Region Dominates the Virtual Care Market Share in 2025?
North America was the largest region in the virtual care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.