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Global Remote Healthcare Market Size, Trends, Growth, Report: By Service: Realtime Virtual Health, Remote Patient Monitoring, Tele-ICU; By End User: Payer, Provider, Patient, Employer Group and Government Organization; Regional Analysis; Patent Analysis; Grants Analysis; Funding Analysis; Competitive Landscape; 2024-2032
Global Remote Healthcare Market Outlook
The global remote healthcare market size was valued at USD 9.2 billion in 2023, driven by the increasing demand for improved patient outcomes and remote healthcare across the globe. The market size is anticipated to grow at a CAGR of 18.3% during the forecast period of 2024-2032 to achieve a value of USD 41.9 billion by 2032.
Remote Healthcare: Introduction
Remote healthcare is a medical service that enables healthcare providers to access real-time patient health evaluations remotely through connected monitoring and technologically advanced medical devices. It is used in combination with telemedicine or for routine and preventative care by measuring vital signs. The medical staff reads the results and decides the appropriate point of care. If health vitals indicate worsening symptoms or irregularities, remote care alerts caretakers to contact the patient and assess for emergency care.
Remote care uses remote patient monitoring devices (RPM) that transmit patient vitals to their providers. Devices like glucose monitors, pressure sensors, internet-connected blood tests, and EKG are set up to be used in a patient’s home to provide essential diagnostics that make it easier to promote patient medication adherence and routine self-care. Providers can use health data from RPM devices to make critical changes to medication, diet, and exercise routines to improve patients’ overall health conditions.
Global Remote Healthcare Market Analysis
The market growth is driven by various trends such as increased integration of Electronic Health Record (EHR) in healthcare technology that acts as a centralized repository for patient data and effectively streamlines the information management process. Another remote healthcare trend in the market is the increased integration of advanced technologies such as Artificial Intelligence AI and Machine Learning (ML) in healthcare settings. These advanced technologies enhance medical decision-making, and patient data management, coupled with enhanced patient care. AI and ML are capable of processing huge amounts of data, spotting trends, and providing insights critical for diagnosis and treatment, further propelling the global remote healthcare market growth.
There are various effective applications of AI in healthcare, including fraud detection, drug development, rare disease and treatment, medical diagnosis, personalized healthcare plans, gene editing, and virtual assistance, among other applications. The Internet of Medical Things (IoMT) and wearable devices are also influencing the market growth. IoMT transforms healthcare delivery and management by creating a connected ecosystem allowing seamless monitoring and analysis of health data. Coupled with IoMT, virtual reality (VR) and augmented reality (AR) in healthcare are also gaining popularity in the healthcare sector. Virtual reality is majorly used to train medical trainees with the use of simulators with increased chances of learning more effectively.
Additionally, the increased adoption of cloud-based digital solutions in healthcare settings is also expected to drive market growth further as it provides support to increased data sharing across care settings, resulting in seamless patient monitoring within and beyond hospital facilities.
Global Remote Healthcare Market Segmentations
Market Breakup by Service
- Realtime Virtual Health
- Video Communication
- Audio Communication
- Email/Chat box
- Remote Patient Monitoring
- Tele-ICU
Market Breakup by End User
- Payer
- Provider
- Patient
- Employer Group and Government Organization
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Remote Healthcare Market Overview
The market for remote healthcare is driven by the increased prevalence of chronic diseases, increasing healthcare expenditure, the growing geriatric population, and the shortage of healthcare resources resulting in an increased burden on healthcare organizations. The increasing adoption of virtual health services, such as audio, video, and chatbots, is expected to drive market growth. The market is also driven by the increasing adoption of smartphones, mHealth apps, wearable smart devices, and digital healthcare globally.
Moreover, an increasing number of investments in the remote healthcare sector is also a major trend propelling the market growth. The increasing burden on healthcare facilities is further expected to drive the adoption of remote healthcare services, further aiding the global remote healthcare market growth. The growing acceptance of remote healthcare services by insurance companies and covering it under their insurance programs is also acting as a major factor, further expected to support the adoption of remote healthcare services in the market.
Geographically, North America is dominating the regional market and is expected to keep dominating in the coming years as well. This dominance can be attributed to the increased awareness and adoption of remote healthcare technologies by the region. Additionally, the presence of a wide range of remote healthcare technology providers, coupled with the presence of robust healthcare infrastructure, is a major factor contributing to the market growth.
Global Remote Healthcare Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Koninklijke Philips
- Advanced ICU Care
- BioTelemetry
- Apollo Tele Health Services
- SOC Telemed
- Banner Health
- Vivify Health
- Teladoc Health
- AirStrip Technologies
- Medtronic
- American Well
- Resideo Life Care Solutions
- InTouch Technologies
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Service |
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| Breakup by End User |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Remote Healthcare Market Overview
3.1 Global Remote Healthcare Market Historical Value (2017-2023)
3.2 Global Remote Healthcare Market Forecast Value (2024-2032)
4 Global Remote Healthcare Market Landscape
4.1 Global Remote Healthcare Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Remote Healthcare Product Landscape
4.2.1 Analysis by Service
4.2.2 Analysis by End User
5 Global Remote Healthcare Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Remote Healthcare Market Segmentation
6.1 Global Remote Healthcare Market by Service
6.1.1 Market Overview
6.1.2 Realtime Virtual Health
6.1.2.1 Video Communication
6.1.2.2 Audio Communication
6.1.2.3 Email/Chat box
6.1.3 Remote Patient Monitoring
6.1.4 Tele-ICU
6.2 Global Remote Healthcare Market by End User
6.2.1 Market Overview
6.2.2 Payer
6.2.3 Provider
6.2.4 Patient
6.2.5 Employer Group and Government Organization
6.3 Global Remote Healthcare Market by Region
6.3.1 Market Overview
6.3.2 North America
6.3.3 Europe
6.3.4 Asia Pacific
6.3.5 Latin America
6.3.6 Middle East and Africa
7 North America Remote Healthcare Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Remote Healthcare Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Remote Healthcare Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Remote Healthcare Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Remote Healthcare Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Koninklijke Philips
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Advanced ICU Care
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 BioTelemetry
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Apollo Tele Health Services
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 SOC Telemed
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Banner Health
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Vivify Health
17.7.1 Financial Analysis
17.7.2 Financial Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Teladoc Health
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 AirStrip Technologies
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Medtronic
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 American Well
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Resideo Life Care Solutions
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 InTouch Technologies
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
18 Global Remote Healthcare Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 9.2 billion in 2023, driven by the rapidly advancing technologies.
The market is anticipated to grow at a CAGR of 18.3% during the forecast period of 2024-2032 and is likely to reach a market value of USD 41.9 billion by 2032.
The increasing prevalence of chronic diseases and the growing burden on healthcare facilities due to the absence of helpful resources are among the major factors driving the market growth.
The increased adoption of advanced technologies including artificial intelligence AI, machine learning ML, and cloud computing among other technologies by healthcare facilities to enhance overall patient outcomes is a major trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
Various services in the market are real-time virtual health, remote patient monitoring, and tele-ICU.
End users in the market are payers, providers, patients, employer groups, and government organizations.
Key players involved in the market are Koninklijke Philips, Advanced ICU Care, BioTelemetry, Apollo Tele Health Services, SOC Telemed, Banner Health, Vivify Health, Teladoc Health, AirStrip Technologies, Medtronic, American Well, Resideo Life Care Solutions, and InTouch Technologies.
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