The distance health technology global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Distance Health Technology Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The distance health technology market size has grown rapidly in recent years. It will grow from $29.95 billion in 2023 to $35.20 billion in 2024 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to increasing healthcare expenditure, increasing population, increasing demand for better healthcare services, rising prevalence of chronic diseases, improvements in communication technologies, and growing demand for remote patient monitoring.
The distance health technology market size is expected to see rapid growth in the next few years. It will grow to 65.56 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to increasing adoption of wearable technology and IoT solutions, adoption of telemedicine & telehealth, technological advancements, increasing demand for distance health technologies, rising adoption of digital health technologies, and increasing adoption of connected medical devices. Major trends in the forecast period include increasing adoption of telecare, increasing adoption of ehealth technologies, telemedicine expansion, artificial intelligence (ai) in diagnostics, virtual health platforms, and personalized healthcare.
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Scope Of Distance Health Technology Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Distance Health Technology Market Overview
Market Drivers –
Increasing demand for remote healthcare services is expected to propel the growth of the distance health technology market going forward. Remote healthcare services involve the provision of healthcare services using technology to connect patients with healthcare professionals from a distance. Distance health technology is used in remote healthcare services to deliver healthcare services to remote areas where access to traditional healthcare facilities may be limited or challenging. For instance, in February 2023, according to a survey conducted by Rock Health, a US-based health technology company, in a survey of 8,014 respondents, around 76% of people over the age of 55 have used telemedicine, and 80% of all respondents reported having accessed care via telemedicine at some point in their lives, up 8% from 72% in 2021. Therefore, increasing demand for remote healthcare services is driving the distance health technology market.
Market Trends –
Major companies operating in the distance health technology market are focused on developing innovative products with advanced technological solutions such as Extended Reality (XR)-supported healthcare ecosystems to strengthen their position in the market. Extended reality (XR) refers to an umbrella term that encompasses various immersive technologies, including virtual reality (VR), augmented reality (AR), and mixed reality (MR). For instance, in June 2023, Amrita Hospital, an India-based multi-speciality tertiary care hospital chain, developed a groundbreaking Extended Reality (XR)-supported healthcare ecosystem, harnessing augmented reality (AR), virtual reality (VR), and mixed reality (MR) technologies to elevate capabilities in patient care, medical training, and research. This innovative integration of advanced technology sets a significant milestone in India’s healthcare industry. The XR-supported system empowers medical professionals to visualize organs in holographic form, facilitating the delivery of personalized, precision medicine. Embracing metaverse concepts and leveraging patient data such as CT scans, the XR system enables doctors to comprehend intricate defects, meticulously plan challenging surgeries, and collaborate globally.
The distance health technology market covered in this report is segmented –
1) By Technology Type: Telemedicine, Remote Patient Monitoring, mHealth (Mobile Health) Applications, Virtual Healthcare Solutions
2) By Delivery Mode: Software, Hardware, Services
3) By Application: Consultation And Diagnosis, Monitoring And Prevention, Treatment And Rehabilitation, Education And Awareness
4) By End-User: Hospitals And Clinics, Home Healthcare, Diagnostic Centers, Ambulatory Surgical Centers, Other End-Users
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Regional Insights –
North America was the largest region in the distance health technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the distance health technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Cisco Systems, Medtronic plc, Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Teladoc Health Inc, Advantech Co Ltd, Allscripts Healthcare Solutions, Cerner Corporation, Babylon Health, American Well Corporation, MDLive Inc., Merative, Doctor On Demand Inc., GlobalMed, Rudolf Riester GmbH, Health Recovery Solutions, Dreamsoft4u, CLB bv, Tryten Technologies Inc, VSee, Sound Intelligence, Aerotel Ltd., AMD Global Telemedicine, Care Innovations, MEDWAND SOLUTIONS INC, Cloud DX, Omcare
Table of Contents
1. Executive Summary
2. Distance Health Technology Market Report Structure
3. Distance Health Technology Market Trends And Strategies
4. Distance Health Technology Market – Macro Economic Scenario
5. Distance Health Technology Market Size And Growth
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27. Distance Health Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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