Distance Health Technology Global Market Report 2024

The distance health technology market size has grown rapidly in recent years. It will grow from $29.95 billion in 2023 to $35.2 billion in 2024 at a compound annual growth rate (CAGR) of 17.5%. The growth observed during the historic period can be attributed to several factors, including the increasing healthcare expenditure, a growing population, rising demand for improved healthcare services, the prevalence of chronic diseases, advancements in communication technologies, and an increasing 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 anticipated growth in the forecast period can be attributed to factors such as the increasing adoption of wearable technology and Internet of Things (IoT) solutions, the widespread adoption of telemedicine and telehealth services, ongoing technological advancements, a growing demand for distance health technologies, an increased adoption of digital health technologies, and the rising popularity of connected medical devices. Major trends expected in the forecast period include the increasing adoption of telecare, the continued growth of eHealth technologies, the expansion of telemedicine services, the integration of artificial intelligence (AI) in diagnostics, the development of virtual health platforms, and a focus on personalized healthcare solutions.

The surging demand for remote healthcare services is expected to be a key driver of growth in the distance health technology market. Remote healthcare services leverage technology to connect patients with healthcare professionals, particularly beneficial in areas with limited access to traditional healthcare facilities. For example, findings from a survey by Rock Health in February 2023 indicate a significant adoption of telemedicine, with approximately 76% of individuals over 55 having utilized such services, marking an increase from 72% in 2021. This trend underscores the growing reliance on remote healthcare solutions, thereby fueling the demand for distance health technology.

Prominent players in the distance health technology sector are prioritizing the development of innovative products featuring advanced technological solutions to fortify their market presence. One such advancement is Extended Reality (XR)-supported healthcare ecosystems, which encompass immersive technologies such as virtual reality (VR), augmented reality (AR), and mixed reality (MR). For instance, in June 2023, Amrita Hospital introduced a groundbreaking XR-supported healthcare ecosystem, leveraging AR, VR, and MR technologies to enhance patient care, medical training, and research capabilities. This integration of advanced technologies represents a significant milestone in India's healthcare landscape. The XR system empowers medical professionals to visualize organs in holographic form, enabling personalized, precision medicine delivery. By embracing metaverse concepts and utilizing patient data such as CT scans, this system facilitates comprehensive understanding of complex medical conditions, supports meticulous surgical planning, and fosters global collaboration among healthcare experts.

In June 2022, Pristyn Care, a leading health tech company based in India, finalized the acquisition of Lybrate for an undisclosed sum. This strategic move marks Pristyn Care's expansion into the primary care sector, complementing its existing focus on secondary care surgeries and minimally invasive procedures. The integration of Lybrate into Pristyn Care's operations creates a strategic synergy, offering patients improved access to primary care through online consultation services. Lybrate, an India-based mobile healthcare technology company, adds significant value to Pristyn Care's portfolio and strengthens its position in the healthcare industry.

Major companies operating in the distance health technology market report are 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.

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. The countries covered in the distance health technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Distance health technology encompasses a diverse range of tools and platforms designed to facilitate the delivery of healthcare services remotely. These technologies empower healthcare professionals to diagnose, treat, monitor, and educate patients from different locations.

The primary types of distance health technology include telemedicine, remote patient monitoring, mHealth (mobile health) applications, and virtual healthcare solutions. Telemedicine involves delivering healthcare services using telecommunication and information technology, allowing for remote diagnosis, consultation, treatment, and monitoring of patients through various digital communication channels. These technologies are delivered in software, hardware, and service types, and find applications in consultation and diagnosis, monitoring and prevention, treatment and rehabilitation, education, and awareness. The end users of distance health technology include hospitals and clinics, home healthcare services, diagnostic centers, ambulatory surgical centers, and other healthcare facilities.

The distance health technology research report is one of a series of new reports that provides distance health technology market statistics, including the distance health technology industry's global market size, regional shares, competitors with a distance health technology market share, detailed distance health technology market segments, market trends and opportunities, and any further data you may need to thrive in the distance health technology industry. This distance health technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The distance health technology market consists of revenues earned by entities by providing services such as remote healthcare, remote clinical and non-clinical, telemedicine, telehealth, remote prescription, tele-rehabilitation, and e-health practices. The market value includes the value of related goods sold by the service provider or included within the service offering. The distance health technology market also includes sales of computers and smartphones, fitness trackers, smartwatches, continuous glucose monitors, connected blood pressure monitors, digital thermometers, digital stethoscopes, implantable medical devices, interactive exercise devices, and smart blood glucose monitors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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