Remote Healthcare (mHealth, Tele-ICUs, & Virtual Health) Market Size to Reach Revenues of Over $11 Billion by 2020 - Arizton

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Jul 08, 2020, 10:00 ET

CHICAGO, July 8, 2020 /PRNewswire/ -- Remote healthcare (mHealth, tele-ICUs, & virtual health) market is expected to grow at a CAGR of over 33% during the period 2019−2025.

Key Highlights Offered in the Report:

Globally, healthcare systems are undergoing rapid change in the wake of challenges posed by COVID-19. The inability to see patients directly enabled remote healthcare as a vital tool in providing healthcare services and is likely to witness exponential growth during the pandemic.
Growth in the remote healthcare space will sustain beyond the COVID-19 pandemic for vendors who can deliver user-friendly sensors, remote patient monitoring platforms, virtual care solutions, and interactive virtual assistants that expand the deployment of remote healthcare models among diverse patient populations.
Improvement in reimbursement policies globally for remote healthcare empower healthcare providers and health plans to rethink care delivery model and expand the actual potential of remote healthcare reach and its overall impact.
Rising number of mobile health (mHealth) applications and their usage due to the widespread use of smartphones and internet connectivity is one of the key growth factors of the remote healthcare market.
Modern information and communication technologies (ICTs) such as computers, laptops, the internet, and smartphones are revolutionizing communication among patients who seek and exchange health information with physicians. These technologies have the potential to help address current health problems and, in turn, help deliver quality care to patients through remote healthcare platforms.
Among all remote healthcare services, real time virtual health segment is likely to grow with a phenomenal growth rate of around 40% during the forecast period due to exponential increase in number of virtual visits globally.
North America is likely to post an incremental growth of around $16 billion due to a series of favorable initiatives implemented by the governments, care providers, and vendors as well as other key stakeholders.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by service, end-user, and geography
Competitive Landscape – Profile of 10 key vendors and 96 other vendors

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Remote Healthcare (mHealth, Tele-ICUs, & Virtual Health) Market – Segmentation

The real-time virtual health segment accounted for over 46% of the global remote healthcare market share in 2019. The growing incidences of cardiac diseases and strokes impact the growth of the real-time virtual health segment. The adoption of remote monitoring is expected to rise with advances in technology and high penetration of smart gadgets across the globe.
Healthcare providers are the major end-users using telehealth platforms to improve the quality of healthcare among patients. Hospitals are the most significant revenue contributors to the market, as most telehealth services are provided through them.
Employers and government organizations are increasingly relying on telehealth platforms to provide healthcare services to employees. Several employers are opting for these services due to their cost-effectiveness. Government organizations are also widely using telehealth platforms to overcome healthcare's existing challenges.

Remote Healthcare (mHealth, Tele-ICUs, & Virtual Health) Market by Service

Real-Time Virtual Health

Video Communication
Audio Communication
Chat/Email Communication

Remote Patient Monitoring
Tele-ICUs

Remote Healthcare (mHealth, Tele-ICUs, & Virtual Health) Market by End-user

Healthcare Providers
Patients
Employer Groups & Government Organizations
Payers

Remote Healthcare (mHealth, Tele-ICUs, & Virtual Health) Market – Geography

The North American market is growing at a faster rate than all other regions and is likely to retain its dominance during the forecast period. The growth in the region is mainly attributed to multiple factors, including the availability of sophisticated healthcare infrastructure, availability of reimbursement coverage for telehealth, and favorable government initiatives and reforms supporting digital health. Furthermore, as the North American population, particularly in the US, is diagnosed with coronavirus, health agencies have urged hospitals to expand their use of remote health such as telehealth services to prevent the spread of the virus.

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Remote Healthcare (mHealth, Tele-ICUs, & Virtual Health) Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Italy
Spain
Netherlands

APAC

China
Japan
Australia
India
South Korea

Middle East & Africa

South Africa
Saudi Arabia
Turkey
UAE

Latin America

Brazil
Mexico
Argentina

Prominent Vendors

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

Other Prominent Vendors

Abbott
Accuhealth Technologies
Aerotel Medical Systems
AirStrip Technologies
Altibbi
AMD Global Telemedicine
Analoge Eclipse Consultants
Appello
athenahealth
AT&T
Babylon
binah.ai
Biotricity
BIOTRONIK
Buoy Health
CallHealth Services
Care Innovations
Cerner
CHI Health
Comarch
Current Health
Dictum Health
DocOnline Health
DocPrime
Doctor Anywhere
Doctor On Demand
edgeMED Healthcare
Encounter Telepsychiatry
eVisit
GE Healthcare
Graham Healthcare Group
GYANT
Halodoc
Harris Computer
HealthHub
HealthTap
Health Telematic Network
HotDoc
iHealth Labs
Imedi Plus
INOVA
iPatientCare
Integrity Urgent Care
INTeleICU
Intercept TeleMed
iSelectMD
KRY
Maple
MDLIVE
Medgate
Medici
MEDIHERE
Medisanté
MedTel Healthcare
MeMD
Mercy Virtual
MesDocteurs
MedXCom
mfine
MouthWatch
MTBC
MyDoc
NextGen Healthcare
Orion Health
Ping An Healthcare and Technology Company
PlushCare
Patientus
Push Doctor
QHR Technologies
Qualcomm Life
SHL Telemedicine
Siemens Healthineers
SnapMD
SOC Telemed
Teleclinic
TeleICUCare
Telemedicine Technologies
TeleSpecialists
TeleVital
Telit
TELUS Health
THA Group
Dhanush Digital Health
Vidyo
VitalTech
Virtual Health Care
VSee
virtuwell
VivaLNK
Spacelabs Healthcare
VirtualHealth
Vodafone
Welldoc
ZIPNOSIS

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence