Remote Healthcare Market size was valued at USD 8.34 Bn. in 2022 and the total Remote Healthcare revenue is expected to grow at a CAGR of 16.81% from 2023 to 2029, reaching nearly USD 24.74 Bn.
Market Overview:
The Remote Healthcare market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Remote Healthcare Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
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Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market size in the relevant area or nation. The market estimations are based on the sale price, excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders.
Drivers:
In order to get around the problem of distance and guarantee healthcare services in remote areas, remote healthcare has proven to be beneficial. The great majority of people on earth, especially in developing nations, reside in rural areas with little access to high-quality healthcare. As a result, numerous governments are putting more of an emphasis on providing healthcare services via virtual care platforms in rural areas. The government is focusing on novel initiatives and regulations that might support market expansion. For instance, the Federal Communications Commission in the United States started programs in March 2020 to help medical institutions use telemedicine technology.
Segmentation:
Based on Service, the Remote Patient Monitoring sector held a commanding 65% market share in 2022 for remote healthcare. At the end of the projected period, the segment is anticipated to continue to rule. Remote patient monitoring benefits both service providers and patients in terms of resources, money, and time, particularly in pandemic scenarios like the covid-19 pandemic. This is because of the larger population, aging population on the rise, lifestyle disorders, and rising healthcare service expenses. During the forecast period, this is anticipated to boost demand for remote patient monitoring systems and propel revenue growth in the remote healthcare market.
by Service
1. Remote Patient Monitoring
2. Real-Time Virtual Health
3. Tele-ICU
by End-user
1. Payer
2. Provider
3. Patient
4. Employer Groups & Government Organizations
Key Players:
Primary and secondary research is used to identify market leaders. In-depth interviews with important thought leaders and industry professionals, such as experienced front-line staff, CEOs, and marketing executives, were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Remote Healthcare market are as follows:
1. Evernorth Health, Inc (US)
2. BioTelemetry (US)
3. Teladoc Health (US)
4. Vivify Health (US)
5. AirStrip Technologies (US)
6. InTouch Technologies (US)
7. American Well (US)
8. Cisco (US)
9. AMD Global Telemedicine (US)
10. MDLIVE (US)
11. Biotricity (US)
12. Babylon Inc (US)
13. Care Innovations, LLC (US)
14. Abbott Laboratories (US)
15. CERNER – oracle (US)
16. CHI HEALTH (US)
17. ACCUHEALTH TECHNOLOGIES (US)
18. Medtronic Corporation (Ireland)
19. Aerotel Medical Systems (Israel)
20. Binah.ai (Israel)
21. Biotronik (Germany)
22. ANALOGE ECLIPSE CONSULTANTS (India)
23. CallHealth Services Pvt Ltd (India)
24. COMARCH (Poland)
25. ALTIBBI (Jordan)
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Regional Analysis:
The Remote Healthcare market analysis regional overview covers individual market influencing components and changes in market laws impacting current and future market trends. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Remote Healthcare Market:
From January 2020 to May 2020, end-user industries where Remote Healthcare are utilized saw a drop in growth in a number of countries due to a halt in operations caused by COVID-19. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Remote Healthcare manufacturers, harming the Remote Healthcare market’s growth in 2020. Lockdowns and an increase in COVID-19 occurrences led to a decrease in end-user business demand for Remote Healthcare.
Key Questions Answered in the Remote Healthcare Market Report:
• What are the key factors influencing Remote Healthcare market growth?
• In 2023, which segment accounted for the most share of the Remote Healthcare market?
• What will be the CAGR of the Remote Healthcare market during the forecast period (2023-2029)?
• In the Remote Healthcare market, which region has the most market share?
• What is the competitive landscape of the Remote Healthcare market?
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