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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Remote Healthcare Market Analysis
The market growth is driven by various trends such as increased integration of Electronic Health Record (EHR) in healthcare technology that acts as a centralized repository for patient data and effectively streamlines the information management process. Another remote healthcare trend in the market is the increased integration of advanced technologies such as Artificial Intelligence AI and Machine Learning (ML) in healthcare settings. These advanced technologies enhance medical decision-making, and patient data management, coupled with enhanced patient care. AI and ML are capable of processing huge amounts of data, spotting trends, and providing insights critical for diagnosis and treatment, further propelling the global remote healthcare market growth.
There are various effective applications of AI in healthcare, including fraud detection, drug development, rare disease and treatment, medical diagnosis, personalized healthcare plans, gene editing, and virtual assistance, among other applications. The Internet of Medical Things (IoMT) and wearable devices are also influencing the market growth. IoMT transforms healthcare delivery and management by creating a connected ecosystem allowing seamless monitoring and analysis of health data. Coupled with IoMT, virtual reality (VR) and augmented reality (AR) in healthcare are also gaining popularity in the healthcare sector. Virtual reality is majorly used to train medical trainees with the use of simulators with increased chances of learning more effectively.
Additionally, the increased adoption of cloud-based digital solutions in healthcare settings is also expected to drive market growth further as it provides support to increased data sharing across care settings, resulting in seamless patient monitoring within and beyond hospital facilities.
Remote Healthcare Market Report Snapshots
Remote Healthcare Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 9.2 billion in 2023, driven by the rapidly advancing technologies.
The market is anticipated to grow at a CAGR of 18.3% during the forecast period of 2024-2032 and is likely to reach a market value of USD 41.9 billion by 2032.
The increasing prevalence of chronic diseases and the growing burden on healthcare facilities due to the absence of helpful resources are among the major factors driving the market growth.
The increased adoption of advanced technologies including artificial intelligence AI, machine learning ML, and cloud computing among other technologies by healthcare facilities to enhance overall patient outcomes is a major trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
Various services in the market are real-time virtual health, remote patient monitoring, and tele-ICU.
End users in the market are payers, providers, patients, employer groups, and government organizations.
Key players involved in the market are Koninklijke Philips, Advanced ICU Care, BioTelemetry, Apollo Tele Health Services, SOC Telemed, Banner Health, Vivify Health, Teladoc Health, AirStrip Technologies, Medtronic, American Well, Resideo Life Care Solutions, and InTouch Technologies.
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