Remote Healthcare Market 2028: What Will Be Changes In Investment Ratio With Opportunity Analysis??Posted by Mrudula Anil Karmarkar on December 26th, 2023 San Francisco, 26 December 2023: The Report Remote Healthcare Market Size, Share & Trends Analysis Report By Service (Remote Patient Monitoring, Real Time Virtual Health, Tele-ICU), By End-user (Payer, Patient, Provider), By Region, And Segment Forecasts, 2021 - 2028 The global remote healthcare market size is expected to reach USD 23.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.0% from 2021 to 2028. COVID-19 pandemic has created a burden on healthcare systems. Moreover, many patients were hesitant to visit hospitals owing to fear of contracting COVID-19. This in turn increased the demand for telehealth including real-time virtual health services. For instance, MDLive, a telehealth platform based in the U.S. witnessed a 95% increase in virtual visits and a 300% increase in bookings in the first half of 2020. Moreover, many remote healthcare vendors, healthcare providers, and the government are taking aid of introducing various platforms to tackle COVID-19. For instance, in April 2021, major digital patient monitoring and real-time virtual health providers Cloud DX, Maple, and Curatio announced their partnership to launch a COVID-19 home monitoring program in Canada. This program will include digital automated monitoring technology along with disease management support and clinical oversight via virtual care. Many hospitals are adopting tele-ICUs to provide effective and efficient treatment to COVID-19 patients and reduce the burden on hospital staff. Such initiatives using technologies to tackle the COVID-19 pandemic are estimated to drive the market. The rise in healthcare costs, increasing burden of diseases, shortage of hospital beds, and shortage of hospital staff is estimated to drive the market in near future. Moreover, increase penetration of the internet, increasing adoption of smartphones and wearable devices, and increasing spending on healthcare IT is supporting the market growth. Many patients, providers, and insurance companies are adopting technologies owing to their advantages such as enhanced quality of care, low cost, and high efficiency. Market players are investing in the development of new digital healthcare technologies. Moreover, they are involved in strategic collaborations, partnerships, and mergers and acquisitions to expand to increase adoption of remote healthcare technologies and expand their company market share. For instance, in January 2021, Redox, a health IT company and Withings announced its partnership to make, MED·PRO CARE, a remote patient monitoring platform of Withings compatible with all electronic health record platforms utilized by healthcare stakeholders. 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. Moreover, telehealth claim lines increased by 4000% between March 2021 and March 2020 in the U.S. Increasing adoption of real-time virtual health services such as audio, video, and chatbox is estimated to drive the market growth potential. Request sample report of Remote Healthcare Market@https://www.grandviewresearch.com/industry-analysis/remote-healthcare-market/request/rs1 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. Remote Healthcare Market Report Scope
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. 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. The increasing burden on healthcare facilities is estimated to drive the adoption of remote healthcare services during the forecast period. Moreover, the rising acceptance of remote healthcare services by insurance companies and its addition in its insurance schemes is further promoting the adoption of remote healthcare services. List of Key Players of Remote Healthcare Market
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