Market Overview:

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
• Tele-ICU
   

Breakup by Application:

• Diagnosis
• Cardiology
• Obstetrics
• Senior Care
• Others
   

Breakup by End User:

• Payer
• Provider
• Patient
• Employer Groups and Government Organizations
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

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.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the remote healthcare market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global remote healthcare market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the remote healthcare industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and  provides an insight into the current positions of key players in the market.