The Remote Health Monitoring Global Market Report 2023, provides comprehensive information on the remote health monitoring market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global remote health monitoring market size is expected to grow from $4.15 billion in 2022 to $4.84 billion in 2023 at a compound annual growth rate (CAGR) of 16.65%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global remote health monitoring market size is expected to reach $.49 billion in 2027 at a CAGR of 15.1%.
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Technological advancement is the key trend gaining popularity in the remote health monitoring market. Major companies operating in the remote health monitoring market are focusing on integrating new technology, such as cloud computing and artificial intelligence (AI), into the remote health monitoring systems to make remote health monitoring systems more accurate. Artificial intelligence (AI) and machine learning use mathematical data models to assist a computer in learning without direct direction. It helps transform how healthcare organizations conduct remote patient monitoring at scale and improve patient outcomes. For instance, in October 2021, Honeywell International Inc., a US-based technology company, launched Real-Time Health Monitoring System (RTHMS). This is an intelligent edge-to-cloud communication technology for remote and real-time patient monitoring. The solution combines hardware and software to improve care delivery and increase healthcare worker productivity and process efficiency. RTHMS can cut hospital administrative tasks by 35% by digitizing and automating important tasks. This edge-to-cloud technology also generates real-time notifications if patients’ vital signs deviate from acceptable or normal ranges.
The remote health monitoring market is segmented:
1) By Devices: Respiratory monitoring, Blood glucose monitoring, Cardiac monitoring, Multi Parameter monitoring
2) By Application: Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Management and Fitness Monitoring, Other Applications
3) By End-User: Home Care Settings, Hospitals/Clinics, Other End-Users
North America was the largest region in the remote health monitoring market in 2022.
The table of contents in TBRC’s remote health monitoring market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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