The global remote healthcare market size reached US$ 9.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.3 Billion by 2028, exhibiting a growth rate (CAGR) of 16.71% during 2023-2028.
Remote healthcare represents a category of telemedicine and information technology (IT) services that enable doctors to constantly monitor the patient health status and offer them proper medical assistance through smartphones and tablets over the internet. It encompasses remote patient monitoring (RPM), real-time virtual health, and telemedicine intensive care unit (tele-ICU) as standard services. Unlike traditional healthcare settings, it allows patients to engage in health management operations, eliminates the requirement of extensive nursing, and is cost-efficient as hospitalization expenses are uninvolved. Apart from this, remote healthcare minimizes hospital visits, reduces patient waiting time, performs preventive and controlled check-ups outside medical facilities, and reduces the risk of disease transmission. As a result, remote healthcare is utilized in hospitals and clinics to engage, access better patient data, and provide improved treatments for faster recovery.
Remote Healthcare Market Trends:
- The growing shortages of ICU beds and the increasing risk of disease transmissions and hospital-acquired infections (HAIs) amongst patients through physical contact are primarily driving the market growth. This is further influenced by favorable government initiatives toward funding and promoting digital healthcare applications to avoid hospital visits and reduce infections, especially during the COVID-19 pandemic. Additionally, the rising prevalence of various chronic and cardiovascular diseases (CVDs) and the escalating need for real-time virtual health services for regular patient monitoring are acting as another growth-inducing factor. In line with this, the advent of medical health (mHealth) solutions and the integration of telecommunications and artificial intelligence (AI) platforms with medical services are propelling the market growth. Apart from this, significant enhancements in the healthcare sector and ongoing development of next-generation electrocardiograms (ECGs), sleep monitors, wearable gadgets, and smartphone technologies with video, audio, and chat box features are positively augmenting the market growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global remote healthcare market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service, application and end user.
Breakup by Service:
- Remote Patient Monitoring
- Real Time Virtual Health
- Video Communication
- Audio Communication
- Email/Chat box
Breakup by Application:
- Senior Care
Breakup by End User:
- Employer Groups and Government Organizations
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Airstrip Technologies Inc., American Well Corporation, BioTelemetry Inc. (Philips Holding USA Inc.), Biotronik, ClearArch Inc. (MobileHelp LLC), Hicuity Health, Medtronic plc, Teladoc Health Inc., University of Pittsburgh Medical Center and Vivify Health Inc. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- 1. What was the size of the global remote healthcare market in 2022?
- 2. What is the expected growth rate of the global remote healthcare market during 2023-2028?
- 3. What are the key factors driving the global remote healthcare market?
- 4. What has been the impact of COVID-19 on the global remote healthcare market?
- 5. What is the breakup of the global remote healthcare market based on the service?
- 6. What is the breakup of the global remote healthcare market based on the end user?
- 7. What are the key regions in the global remote healthcare market?
- 8. Who are the key players/companies in the global remote healthcare market?