Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 12.97 Billion | USD 63.73 Billion | 17.3% | 2023 |
According to Zion Market Research, the global Remote Healthcare Market was worth USD 12.97 Billion in 2023. The market is forecast to reach USD 63.73 Billion by 2032, growing at a compound annual growth rate (CAGR) of 17.3% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Remote Healthcare Market industry over the next decade.
The global Remote Healthcare market accrued earnings worth approximately 10.6 (USD Billion) in 2019 and is predicted to gain revenue of about 37.5 (USD Billion) by 2026, is set to record a CAGR of nearly 32.1% over the period from 2020 to 2026. The report offers an assessment and analysis of the Remote Healthcare market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Remote healthcare is a telemedicine solution that helps in the continuous monitoring of the condition of the patient. In addition to this, it also assists in determining the performance of healthcare check-ups from remote places through smartphones & iPhones. Moreover, remote healthcare activities include monitoring patients from distant locations in real-time along with making timely intrusions. It is massively utilized by BioPharma firms for determining and engaging with subjects to bring improvement in the results. Moreover, the pharma industry makes utilization of remote healthcare systems for enhancing sales & marketing operations along with improving the speed of clinical experiments.
Large-scale expenditure on healthcare IT sector by government institutions as well as private firms will spike the surge of remote healthcare industry over the assessment period. In addition to this, rise in the occurrence of chronic conditions like cardiac issues, high blood pressure, and diabetes will prompt the industry landscape over the ensuing years. Apparently, increase in the lockdown period due to rapid spread of COVID 19 pandemic has created ample of business growth opportunities for remote healthcare industry players. With thriving telehealth industry and remote health monitoring activities across the globe, the market for remote healthcare is likely to gain huge impetus over the coming years.
Moreover, rise in smartphone penetration in the healthcare sector along with surge in medical transcription activities and increase in the use of mHealth apps will embellish the market growth over 2020-2026. Additionally, supportive government schemes and acceptance of Internet of medical things systems has not only brought a paradigm shift in the healthcare sector but has created a strong foothold for remote healthcare industry in the recent years. Furthermore, information technology & software tools have favorably leveraged the earnings of each industry and healthcare domain is no exception to this. Additionally, the use of information technology in medical & healthcare sector has not only transformed its outlook but has rejuvenated & reinvented its functionalities & operations. This, in turn, has further promoted remote healthcare activities. All these aforementioned factors are anticipated to create a strong base for remote healthcare market growth in the foreseeable future.
North America To Make Notable Contributions Towards Overall Market Proceeds During 2020-2026
Remote healthcare market in North America is likely to reach its peak during 2020-2026 subject to large number of bio-pharma firms in the country opting for remote healthcare activities. With massive spread of COVID 19 pandemic in the U.S., physicians are focusing on providing remote healthcare services to patients, thereby increasing their engagement with patients along with capturing real-time information pertaining to patient care. Additionally, healthcare service providers in countries such as the U.S. and Canada try to achieve better patient outcomes through offering of effective online medical treatment services, thereby further driving regional market trends.
Furthermore, rise in the consumerization of patient care & personal care activities integrated with massive utilization of sensor-embedded wearable equipment & other medical digital systems in developed countries such as Canada and the U.S. will offer an array of opportunities for remote healthcare industry to mark huge growth in the sub-continent. Thriving digital therapeutics & remote diagnostics & monitoring industry in the region will result in increment of remote healthcare industry size in the sub-continent.
Report Attributes | Report Details |
---|---|
Report Name | Remote Healthcare Market |
Market Size in 2023 | USD 12.97 Billion |
Market Forecast in 2032 | USD 63.73 Billion |
Growth Rate | CAGR of 17.3% |
Number of Pages | 110 |
Key Companies Covered | BioTelemetry, AirStrip Technologies, Koninklijke Philips, Vivify Health, Medtronic Corporation, Resideo Life Care Solutions, and InTouch Technologies. |
Segments Covered | By Service, By End-User, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Key players profiled in the study include BioTelemetry, AirStrip Technologies, Koninklijke Philips, Vivify Health, Medtronic Corporation, Resideo Life Care Solutions, and InTouch Technologies.
By Service
By End-User
FrequentlyAsked Questions
Large-scale expenditure on healthcare IT sector by government institutions as well as private firms will spike the surge of remote healthcare industry over the assessment period. In addition to this, rise in the occurrence of chronic conditions like cardiac issues, high blood pressure, and diabetes will prompt the industry landscape over the ensuing years. Apparently, increase in the lockdown period due to rapid spread of COVID 19 pandemic has created ample of business growth opportunities for remote healthcare industry players. With thriving telehealth industry and remote health monitoring activities across the globe, the market for remote healthcare is likely to gain huge impetus over the coming years.
Moreover, rise in smartphone penetration in the healthcare sector along with surge in medical transcription activities and increase in the use of mHealth apps will embellish the market growth over 2020-2026. Additionally, supportive government schemes and acceptance of internet of medical things systems has not only brought a paradigm shift in the healthcare sector but has created a strong foothold for remote healthcare industry in the recent years. Additionally, the use of information technology in medical & healthcare sector has not only transformed its outlook but has rejuvenated & reinvented its functionalities & operations. This, in turn, has further promoted remote healthcare activities. All these aforementioned factors are anticipated to create a strong base for remote healthcare market growth in the foreseeable future.
According to Zion market research report, the global Remote Healthcare market accrued earnings worth approximately 10.6 (USD Billion) in 2019 and is predicted to gain revenue of about 37.5 (USD Billion) by 2026, is set to record a CAGR of nearly 32.1% over the period from 2020 to 2026.
North American Market is set to experience mounting accession over 2020-2026 subject to large number of bio-pharma firms in the country opting for remote healthcare activities. With massive spread of COVID 19 pandemic in the U.S., physicians are focusing on providing remote healthcare services to patients, thereby increasing their engagement with patients along with capturing real-time information pertaining to patient care. Additionally, healthcare service providers in countries such as the U.S. and Canada try to achieve better patient outcomes through offering of effective online medical treatment services, thereby further driving regional market trends. Furthermore, rise in the consumerization of patient care & personal care activities integrated with massive utilization of sensor embedded wearable equipment & other medical digital systems in the developed countries such as Canada and the U.S. will offer an array of opportunities for remote healthcare industry to mark huge growth in the sub-continent.
The key market participants include BioTelemetry, AirStrip Technologies, Koninklijke Philips, Vivify Health, Medtronic Corporation, Resideo Life Care Solutions, and InTouch Technologies.
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