Remote Healthcare Market Size, Share, Trends, COVID-19 Impact and Growth Strategies, Segmentation 2021-2028

Remote Healthcare Market
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The global remote healthcare market size was valued at USD 6.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.0% from 2021 to 2028. The spread of the COVID-19 pandemic has increased the adoption of remote healthcare technologies by patients, payers, and providers. Many patients adopted real-time virtual health platforms to avoid visiting hospitals during the pandemic. Telehealth platforms offering real-time virtual health services such as American Well witnessed a 1000% increase in visits due to the pandemic.

To reduce the burden on doctors and prevent COVID-19 spread, many healthcare facilities around the world are adopting tele-ICUs. For instance, in August 2020, a new tele-ICU service was introduced in Maharashtra, India, Moreover, in March 2020, Sheba Medical Center and the Ichilov Hospital in Israel introduced AI-based tele-ICUs for supporting COVID-19 patients. Moreover, the shortage of ICU beds globally is driving the adoption of tele-ICUs thereby driving the market growth potential.  The COVID-19 pandemic has caused a shortage of hospital space. Moreover, patients suffering from chronic conditions are recommended to avoid hospital visits to prevent infection. This in turn is driving the adoption of remote patient monitoring services by healthcare providers as well as patients.

Key Player Mentioned:

 

  • Advanced ICU Care
  • BioTelemetry
  • Koninklijke Philips
  • Teladoc Health
  • Vivify Health
  • AirStrip Technologies
  • Medtronic
  • InTouch Technologies
  • American Well
  • Resideo Life Care Solutions

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Product Segment Analysis:

  • Remote Patient Monitoring
  • Real Time Virtual Health

Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa

Increasing adoption of smartphones, mHealth apps, wearable technologies, and digital healthcare is estimated to drive the market globally. Moreover, an increasing number of investments in the remote healthcare industry are supporting segment growth. For instance, In March 2020, Doctor Anywhere, telehealth and real-time virtual health platform raised USD 27.0 million in a Series B financing round. The round was led by Square Peg, IHH Healthcare, and EDBI. This funding will help the company in expanding its services and geographic presence.

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Growing healthcare costs, the growing burden of chronic diseases, the growing geriatric population, and the shortage of healthcare resources are increasing the burden on healthcare organizations estimated to drive the market. According to the Centers for Disease Control and Prevention, 90% of the U.S. healthcare expenditure is spending on treating chronic conditions. According to World Health Organization, the global population above 60 years is estimated to be 22% of the global population from 12% in 2015.

Why Purchase this Report?

  • A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality.
  • The report provides a holistic view of the competitive scenario of the Remote Healthcare market.
  • The latest product launches, along with technological changes and developments, are included in the report.
  • The data analysis in the report will help you understand the Remote Healthcare market dynamics projected from 2021 to 2028.
  • The Report has a vast data store, so it can accommodate your custom needs as well.

About Us:

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic  institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.


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