The introduction of connected health services helps in the communication, diagnosis, treatment, and patient monitoring in remote locations. Telecommunications help reduce the cost of healthcare services and are attributing to the growth of the global remote healthcare market. The rising use of mobile and wireless technologies is promoting the mHealth market and will propel the development of the global healthcare market. The application areas of mHealth include health call Centers, emergency toll-free telephone services, emergency and disaster management, mobile patient records, and health surveys. The growing demand for Health services from countries such as the US, the UK, and Germany will contribute to the revenues in the global market. Leading vendors are leveraging advancement in technology to launch new services in the global tele -ICUs market and gain a larger market share.
Global Remote Healthcare Market was valued at US$ XX Mn in 201X and expected to grow at X% Compound Annual Growth Rate (CAGR) over 201X to 202X
The increase in collaborative partnerships and planning between the healthcare service providers and various government organizations to meet the requirements and offer sustainable healthcare services in remote locations is propelling the growth of the remote healthcare market. These partnerships will enable effective use of available resources to improve the transition of patients between healthcare services and provide better access patient care and disease management services. This collaborative health service planning and policy development will ensure that specific needs of rural and remote communities are fulfilled, proper utilization of available resources and workforce, and develop positive and effective partnerships in the healthcare sector. Such initiatives will augment the development of the virtual visits market over the next few years.
Leading service providers are forming partnerships with software developing companies that will help in the development and innovation of services offered in the global virtual visits market. Further, the increasing number of smartphone and wearable users will boost the demand in the mHealth market. The global remote healthcare market is projected to generate the revenue of $36.92 billion by 2023, growing at an impressive CAGR of 17.74% during the forecast period.
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Key players are focusing on acquiring smaller organizations to improve its product portfolio and gain additional market share. The collaborations between manufacturers, hospitals, and academic institutions are expected to establish a significant impact in the market growth.
• Truman Medical Centers and Cerner launched a pilot program to combat high-risk chronic conditions in 2017, to track health conditions and vitals outside of the traditional hospital settings. The patients and program participants received remote patient monitoring kits with medical devices connected to their individual electronic health record.
• Apple and Google launched HITs. Apple created two software frameworks, ResearchKit (in 2015) and CareKit in 2016, that facilitate the creation of healthcare apps, designed to assist in medical research patient enrollment and patient-centered disease self-management.
• VGo Communications, Inc. is developing robotic telepresence solutions for healthcare.
Global Remote Healthcare Market: Drivers Global Remote Healthcare Market: Restraints
Rising Incidences of Chronic Diseases Worldwide Inadequate Reimbursement Scenario
Increasing Awareness Toward Self-Care and Disease Management Inefficient Telecommunication Network
Decreasing Medical Cost for Low-Income Countries Low Awareness About Remote Healthcare
Growing Market Penetration of Smartphones Security Threats
Opportunities & Trends
• High R&D Investment
• High Demand for Health & Fitness Gadgets
• Government Initiatives
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