Virtual Health Services Companies and Mergers and Acquisitions (M&A)

Top Companies in the Virtual Health Services Market

• Teladoc Health
• Amwell
• Doctor On Demand / Included Health
• MDLive
• Babylon Health
• PlushCare
• VA / U.S. Department of Veterans Affairs
• Kaiser Permanente
• UnitedHealth Group / Optum
• CVS Health / MinuteClinic & CVS Virtual Care
• Walgreens Boots Alliance / Care-centric partnerships
• Babylon / local partners
• Amwell competitors in specialty: DoctorSpring / Specialty telehealth vendors
• Livongo / chronic care platforms
• Philips
• ResMed
• BioTelemetry / Philips-owned cardiac & RPM services
• Hims & Hers Health
• Microsoft / Google Cloud
• Epic / Cerner

Market Growth

The global virtual health services market size reached USD 10.64 billion in 2024, grew to USD 13 billion in 2025, and is projected to hit around USD 79.57 billion by 2034, expanding at a CAGR of 22.44% during the forecast period from 2025 to 2034.

What are the Major Trends in the Virtual Health Services Market?

• The leading companies are investing in advancing telehealth and telemedicine services. For instance, in December 2024, Mulk International and Ajeenkya DY Patil Group announced the launch of the first large-scale virtual hospital in the Middle East and North Africa, and Asia Pacific that has united 20,000 doctors along with AED 100 million in funding and advanced virtual healthcare solutions.
• The biopharmaceutical companies are making efforts to introduce health tech innovations. For instance, in June 2025, HealthKois introduced a $400 million investment fund to accelerate biopharma innovations and the next wave of HealthTech in India.
• Efforts have been made to incorporate AI in every area of healthcare systems. For instance, in April 2025, hellocare.ai raised $47 million to accelerate AI-assisted virtual care and convert hospital rooms into smart and connected care environments.

Latest Announcement by Industry Leaders

In January 2025, Ido Schoenberg, M.D., Amwell chair and CEO, proclaimed that the deprivation of the Amwell Psychiatric Care business will enable the company to shift towards its unified and world-class digital care platform. The transaction strengthens the company’s balance sheet while considering the growing accretive software contribution to the company’s product mix.

Recent Developments in the Virtual Health Services Market

• In August 2025, Teladoc Health announced the acquisition of telecare and expanded access to specialist and allied healthcare through virtual delivery for Australians in public and private health.
• In November 2024, Philips declared advancements in remote imaging leadership with FDA510 (k) clearance to introduce innovative remote scanning and expand protocol management capabilities.

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