In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Remote Healthcare Market Report
The global remote healthcare market by revenue is expected to grow at a CAGR of over 33% during the period 2019–2025.
The global remote healthcare market size will reach $11 billion in 2020 and is witnessing growth on account of the growing integration of telecommunications with medical services, which are reducing healthcare expenditure. Remote health is revolutionizing the healthcare industry as it minimizes hospital visits and reduces patient waiting time. The high spending on healthcare IT collaborations by major stakeholders is contributing to growth. The growing incidence of several chronic conditions such as diabetes, cardiac diseases, and hypertension is influencing growth worldwide.
The outbreak of the COVID-19 pandemic, which has affected around 6.29 million and resulted in about 380,000 deaths across the globe till June 4, 2020, is expected to influence the market during the forecast period. The rapid spread of the virus both in developed and developing countries are focusing on telehealth and remote monitoring. Public healthcare bodies in several countries are recommending people to utilize remote solutions.
The following factors are likely to contribute to the growth of the remote healthcare market during the forecast period:
• Favorable Government Initiatives • Emergence of New Pandemic Challenge • Increasing Usage of Remote Healthcare in Outpatient Clinics & Specialists • Surge in Virtual Visit
The study considers the present scenario of the remote healthcare market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Remote Healthcare Market Segmentation The global remote healthcare market research report includes a detailed segmentation by service, end-user, and geography. The real-time virtual health segment accounted for over 46% of the global remote healthcare market share in 2019. The growing incidences of cardiac diseases and strokes impact the growth of the real-time virtual health segment. The adoption of remote monitoring is expected to rise with advances in technology and high penetration of smart gadgets across the globe.
The remote patient monitoring (RPM) segment is growing is expected to grow at a significant rate during the forecast period. This growth can be attributed to the growing prevalence of chronic diseases in the rising geriatric population that requires regular monitoring and quality facilities. RPM mainly focuses on providing high-quality services to people with a broad range of chronic conditions in their homes. Among all chronic conditions, RPM is widely used for cardiovascular diseases and diabetes management. The demand for self-care monitoring technologies such as blood pressure monitors, glucose meters, cardiac monitors, pulse oximeters, and fitness devices is increasing. Healthcare providers are the major end-users using telehealth platforms to improve the quality of healthcare among patients. Hospitals are the most significant revenue contributors to the market, as most telehealth services are provided through them. They are embracing the use of telehealth platforms as they offer benefits such as the ability to perform high-tech monitoring without requiring patients to leave their homes.
The patient segment accounted for over 31% share of the market. The segment is the second-largest contributor to the telehealth market globally. Treatment methods have changed drastically over the last few years, with patients prioritizing self-care and homecare treatment options as they are convenient and save a significant amount of time and costs.
The study considers the present scenario of the remote healthcare market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Segmentation by Service • Real Time Virtual Health o Video Communication o Audio Communication o Chat/Email Communication • Remote Patient Monitoring • Tele-ICUs Segmentation by End-user • Healthcare Providers • Patients • Employer Groups & Government Organizations • Payers
INSIGHTS BY GEOGRAPHY
The North American market is growing at a faster rate than all other regions and is likely to retain its dominance during the forecast period. The growth in the region is mainly attributed to multiple factors, including the availability of sophisticated healthcare infrastructure, availability of reimbursement coverage for telehealth, and favorable government initiatives and reforms supporting digital health. Furthermore, as the North American population, particularly in the US, is diagnosed with coronavirus, health agencies have urged hospitals to expand their use of remote health such as telehealth services to prevent the spread of the virus.
In 2019, Europe accounted for a 28% share in the global remote healthcare market. Europe is the second-largest market globally. It is growing at a healthy rate and is expected to grow at a similar pace during the forecast period. UK, France, Germany, Italy, Spain, and the Netherlands, are the major revenue generators in the region.
Segmentation by Geography • North America o US o Canada • Europe o UK o Germany o France o Italy o Spain o Netherlands • APAC o China o Japan o Australia o India o South Korea • Middle East & Africa o South Africa o Saudi Arabia o Turkey o UAE • Latin America o Brazil o Mexico o Argentina
INSIGHTS BY VENDORS The global remote healthcare market share is highly dynamic and fragmented, with the presence of several medical device manufacturers, software/application providers, and telehealth service providers. Medical device manufacturers are collaborating with software/application developers and service providers to enhance the quality of care to patients. The rapidly changing technological advancements have a significant impact on the overall market as patients and clinicians are looking for remote patient monitoring platforms with innovative and advanced features.
Prominent Vendors • Advanced ICU Care • AirStrip Technologies • American Well • BioTelemetry • InTouch Technologies • Koninklijke Philips • Medtronic • Resideo Life Care Solutions • Teladoc Health • Vivify Health
Other Prominent Vendors • Abbott o Business Overview o Product Offerings • Accuhealth Technologies • Aerotel Medical Systems • Altibbi • AMD Global Telemedicine • Analoge Eclipse Consultants • Appello • athenahealth • AT&T • Babylon • binah.ai • Biotricity • BIOTRONIK • Buoy Health • CallHealth Services • Care Innovations • Cerner • CHI Health • Comarch • Current Health • Dictum Health • DocOnline Health • DocPrime • Doctor Anywhere • Doctor On Demand • edgeMED Healthcare • Encounter Telepsychiatry • eVisit • GE Healthcare • Graham Healthcare Group • GYANT • Halodoc • Harris Computer • HealthHub • HealthTap • Health Telematic Network • HotDoc • iHealth Labs • Imedi Plus • INOVA • iPatientCare • Integrity Urgent Care • INTeleICU • Intercept TeleMed • iSelectMD • KRY • Maple • MDLIVE • Medgate • Medici • MEDIHERE • Medisanté • MedTel Healthcare • MeMD • Mercy Virtual • MesDocteurs • MedXCom • mfine • MouthWatch • MTBC • MyDoc • NextGen Healthcare • Orion Health • Ping An Healthcare and Technology Company • PlushCare • Patientus • Push Doctor • QHR Technologies • Qualcomm Life • SHL Telemedicine • Siemens Healthineers • SnapMD • SOC Telemed • Teleclinic • TeleICUCare • Telemedicine Technologies • TeleSpecialists • TeleVital • Telit • TELUS Health • THA Group • Dhanush Digital Health • Vidyo • VitalTech • Virtual Health Care • VSee • virtuwell • VivaLNK • Spacelabs Healthcare • VirtualHealth • Vodafone • Welldoc • ZIPNOSIS
KEY QUESTIONS ANSWERED: 1. What is the remote healthcare market size and growth rate during the forecast period? 2. What are the factors impacting the growth of the global remote patient monitoring system market? 3. How is the usage of IoT in healthcare impacting the Europe remote monitoring market? 4. Who are the leading vendors in the remote healthcare market, and what are their market shares? 5. Which service/end-user/segment is the largest revenue-generating segment during the forecast period?
Our reports have been used by over 10K customers, including:
The global medical radiation detection, monitoring, & safety is projected to reach USD 1.4 billion by 2027 from USD 1.0 billion in 2022, at a CAGR of 6.8% during the forecast period. Growth in this market is mainly driven by factors such as the growing geriatric population, the growing number of radio diagnostic procedures performed, therising...
This study considers a detailed scenario of the present medical ventilators market and its market dynamics for 2022?2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent...
The healthcare staffing market is expected to grow from US$ 34.76 billion in 2021 to US$ 51.28 billion by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The market growth is mainly attributed to the increasing demand for physician extenders and the growing number of government initiatives. However, the shortage of...
The patient engagement solutions market is projected to reach USD 27.9 billion by 2027 from USD 17.3 billion in 2022, at a CAGR of 10.0% during the forecast period. The growth of this market is driven by the adoption and changes in government regulations to promote patient-centric care and involve patients throughout the care journey, high...
The US healthcare/hospital food services market is projected to reach USD 22.8 billion by 2026 from USD 13.2 billion in 2021, at a CAGR of 11.5% during the forecast period. The growth of this market is mainly attributed to the increasing prevalence of and awareness about chronic diseases, growing focus on improved patient food experience,...
The US surgical procedures market is projected to reach 122,881.5 thousand procedures by 2027 from 105,814.5 thousand procedures in 2022, at a CAGR of 3.0% during the forecast period. The growth of this market is mainly attributed to the growing prevalence of cancer, rise in chronic diseases, increased investment in health facilities, technological...
This report considers the present scenario of the U.S. remote patient monitoring market and its market dynamics for 2022?2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyses leading companies and several...
The drug delivery devices market was valued at USD 258.81 billion in 2021, and it is expected to reach USD 394.03 billion by 2027, registering a CAGR of 7.40% during the forecast period of 2022-2027. At the outbreak of the COVID-19 pandemic, most pharmaceutical companies and governments are working toward offering efficient medical...
The soft tissue repair market is projected to reach USD 17.2Billion by 2027 from USD 13.6Billion in 2022, at a CAGR of 4.7% during the forecast period. Growth in this market is mainly driven by Increasing aging population and obesity rate, growing incidence of sports injuries, strong focus on R&D leading to the launch of technologically...
The Live Cell Imaging market is projected to register a CAGR of 7.29% during the forecast period with a market size of USD 1,801.89 million in 2021 and expected to reach USD 2,766.27 million by 2027. The COVID-19 pandemic had a severe impact on the market as there were supply chain disruptions due to lockdown. However, the increasing...
Healthcare
World
Health Expenditure
Diabetes Prevalence
By continuing to use this site you consent to the use of cookies on your device as described in our Cookie Policy unless you have disabled them.
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.
