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Remote Healthcare Market

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:

  • Service
  • End User
  • Region
Breakup by Service
  • Realtime Virtual Health
  • Remote Patient Monitoring
  • Tele-ICU
Breakup by End User
  • Payer
  • Provider
  • Patient
  • Employer Group and Government Organization
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • 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

 

*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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