Remote Healthcare Market Size To Reach $32.25 Billion By 2030

Remote Healthcare Market Growth & Trends 

The global remote healthcare market size is expected to reach USD 32.25 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.5% from 2024 to 2030. 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.

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Remote Healthcare Market Report Highlights

• Tele-ICUs emerged as the leading service segment and accounted for the largest revenue share of 44.2% in 2023

• The provider segment dominated the market and accounted for the largest revenue share in 2023, whereas the patient segment is projected to expand at the fastest CAGR during the forecast period

• North America dominated the market and accounted for the largest revenue share of 38.8% in 2023

• In Asia Pacific, the market is projected to expand at the fastest CAGR during the forecast period

Remote Healthcare Market Segmentation

Grand View Research has segmented the global remote healthcare market based on service, end use, and region:

Remote Healthcare Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Remote Patient Monitoring

• Real Time Virtual Health

  • Video Communication

  • Audio Communication

  • Email/Chat box

• Tele-ICU

Remote Healthcare End Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Payer

• Provider

• Patient

• Employer Groups & Government Organizations

Remote Healthcare Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Remote Healthcare Market

• Advanced ICU Care

• Koninklijike Philips N.V.

• Teladoc Health

• AirStrip Technologies

• Medtronic

• American Well

• Resideo Life Care Solutions