AI in Remote Patient Monitoring Market Size is valued at USD 1,221.35 Mn in 2022 and is predicted to reach USD 6,896.41 Mn by the year 2031 at a 21.3% CAGR during the forecast period for 2023-2031.
AI in Remote Patient Monitoring (RPM) utilizes technology to remotely gather and analyze patient health data, offering continuous monitoring, early warning capabilities, personalized care, and cost reduction. This approach integrates with telehealth, tailors care plans, ensures data security, and aids clinical decision-making. It empowers patients, reduces healthcare expenses, and has the potential for population health management. Successful implementation requires robust data infrastructure, secure communication, and adherence to regulations, ultimately improving patient care and healthcare efficiency.
Large data quantities, growing issues connected to healthcare expenditures, and precise patient outcomes contribute to the healthcare sector's rapid evolution.
The need for real-time data is growing as the prevalence of chronic diseases, including diabetes, cardiovascular disease, and chronic respiratory diseases, rises, which in turn is driving demand for AI technology in remote patient monitoring. Approximately 9.3% of the world's population, or 463 Mn people, have diabetes, according to Diabetes Research and Clinical Practices, with the highest prevalence in low- and middle-income nations.
Competitive Landscape
Some Major Key Players In The AI in Remote Patient Monitoring Market:
- Aicurev
- Ai
- Biofourmis
- Ai Inc.
- Connect America LLC
- Cardiomo Care, Inc.
- ChroniSense Medical, Ltd.
- CU-BX Automotive Technologies Ltd.
- Current Health
- Healthsaas Inc.
- Implicity
- Maya Md
- Somatix Inc.
- Ejenta, Inc.
- Feebris Ltd.
- com, Inc.
- Huma Therapeutics Limited
- Neteera Technologies Ltd.
- iBeat, Inc.
- iHealth Labs, Inc.
- Others
Market Segmentation:
The AI in the Remote Patient Monitoring market has been segmented based on product, solution, technology, and application. The market is broadly divided into special and vital monitors based on the product. The solution segment includes hardware, services, and software. The technology segment includes machine learning, natural language processing, querying methods, and speech recognition. The application segments include cancer, cardiovascular diseases, dehydration, diabetes, infections, respiratory issues, sleep disorders, viral infection, and weight management & fitness monitoring.
Based On Technology, The Machine Learning Segment Is Dominating The AI In Remote Patient Monitoring Market
The market for AI in remote patient monitoring is dominated by the machine learning segment in terms of revenue. Machine learning, a kind of AI, uses specialized algorithms to assist clinicians in swiftly comprehending complex data. In order to aid in the early detection of health status deterioration, they can assist with patient evaluations and even classify the patient's varied movements and activities. Large datasets can be processed by these AI systems to find and comprehend complicated patterns for decision-making.
The Software Segment Registered The Highest Growth
The market for artificial intelligence (AI) in remote patient monitoring had the greatest revenue share in the world. Doctors can get asset information via remote monitoring using AI software even when assets are dispersed across several physical sites. It can, therefore, be used to monitor and assess the performance and condition of assets located away from the workplace, such as while patients are travelling.
The North American AI In Remote Patient Monitoring Market Holds A Significant Revenue Share In The Region
The market had its greatest revenue share in North America. In 2022, the market is dominated by North America as a result of the presence of significant companies. Additionally, it is projected that the expansion will be aided by North America's more straightforward payback regulations and a rise in the occurrence of uncommon diseases. The market has also been considerably impacted by the general public's increased awareness of diseases, their treatments, and related preventative actions. The adoption of smartphones, network advancements, and internet and social media use drives the industry. The growth of mHealth apps and intensive R&D in health wearables are driving the demand for AI-based remote patient monitoring solutions in the North American region.
AI in Remote Patient Monitoring Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1,221.35 Mn |
|
Revenue Forecast In 2031 |
USD 6,896.41 Mn |
|
Growth Rate CAGR |
CAGR of 21.3% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product, Solution, Technology, Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Aicurev, Binah.Ai, Biofourmis, Care.Ai Inc., Connect America LLC, Cardiomo Care, Inc., ChroniSense Medical, Ltd., CU-BX Automotive Technologies Ltd., Current Health, Healthsaas Inc., Implicity, Maya Md, Somatix Inc., Ejenta, Inc., Feebris Ltd., Gyant.com, Inc., Huma Therapeutics Limited, Neteera Technologies Ltd., iBeat, Inc., iHealth Labs, Inc., Others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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