Pune, India -- (SBWIRE) -- 12/13/2018 -- This market research report on the remote healthcare (mHealth, tele-ICUs, and virtual health) market offers analysis on market size and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by service (mHealth, tele-ICUs, and virtual health (audio visits, video visits, and chat consultations), end-users (hospitals and clinics, individuals, and other medical service providers), and geography (APAC, Europe, North America, and ROW).

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Remote Healthcare Market - Overview

The introduction of connected health services helps in the communication, diagnosis, treatment, and patient monitoring in remote locations. Telecommunications help reduce the cost of healthcare services and are attributing to the growth of the global remote healthcare market. The rising use of mobile and wireless technologies is promoting the mHealth market and will propel the development of the global healthcare market.

The application areas of mHealth include health call centers, emergency toll-free telephone services, emergency and disaster management, mobile patient records, and health surveys. The growing demand for mHealth services from countries such as the US, the UK, and Germany will contribute to the revenues in the global market. Leading vendors are leveraging advancement in technology to launch new services in the global tele -ICUs market and gain a larger market share.

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Leading service providers are forming partnerships with software developing companies that will help in the development and innovation of services offered in the global virtual visits market. Further, the increasing number of smartphone and wearable users will boost the demand in the mHealth market. The global remote healthcare market is projected to generate the revenue of $36.92 billion by 2023, growing at an impressive CAGR of 17.74% during the forecast period.

The remote healthcare market by service is divided into mHealth, tele-ICUs, and virtual health segments. The mHealth services segment dominated the global market, occupying around 84% of the total market share and is expected to generate the revenue of $30.43 billion by 2023. The increasing adoption of smartphones and smart gadgets and the growing preference toward self-management of diseases are fueling the demand for mHealth services in the global market.

Some of the most common devices integrated with mHealth applications include blood pressure monitoring devices, blood glucose monitors, heartrate monitoring devices, and sleep monitoring devices. Government initiatives for favorable reimbursement policies and increased awareness about disease management will have a positive impact on the growth of the global mHealth market.

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The end-users segment in the global remote healthcare market is classified into hospitals and clinics, individuals, and other medical service providers. Healthcare centers and clinics were the largest end-user segments in the global market, accounting for around 50% of the total market share in 2017. The entry of new vendors is enabling the availability of enhanced healthcare services and investment in the medical sector. The adoption of tele-ICUs and virtual care services for diagnosis and intervention is attributing to the growth of the hospitals and clinics segment in the global market. Leading vendors are leveraging the adoption of innovative technology to introduce various telemedicine services in the tele ICUs market.

The key countries profiled in the report are:
- US
- Canada
- UK
- Germany
- France
- China
- Japan
- India
- Saudi Arabia
- South Africa
- Brazil
- Mexico

Key Vendor Analysis

The presence of various regional and international players in the global remote healthcare market is intensifying the competition level. The introduction of digital technology and cloud-based systems in hospitals and clinics will create new opportunities for vendors in the global virtual visits market. Service extensions, technological innovations, and strategic M&A are some of the effective initiatives taken by companies to gain a larger market share in the market. The improving economic condition in various fast-developing countries in APAC will encourage leading players to focus on business expansion plans in these regions during the forecast period.

The major vendors in the global market are:
- Medtronic
- Teladoc
- American Well
- Airstrip Technologies
- BioTelemetry/LifeWatch

Other prominent vendors include InTouch Health, iMDsoft, UPMC Italy, INTeleICU, TeleICUcare, INOVA, Carena, MDLIVE, edgeMED Healthcare, Mercy Virtual, CHI Health, MedSpring, Celtic Healthcare, Integrity Urgent Care, THA group, Premera Blue Cross, United HealthCare Services, virtuwell, Zipnosis, Ringadoc/MedXCom, MeMD, Plushcare, iSelectMD, eVisit, meVisit, Specialists on Call, Vidyo, VSee, AliveCor, Jawbone, OMRON Healthcare, AgaMatrix, iHealth Lab, AT&T, Masimo, and Athenahealth.

Key market insights include

1. The analysis of remote healthcare market provides market size and growth rate for the forecast period 2018-2023.

2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the remote healthcare market.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook for the remote healthcare market.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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