The global Distance Health Technologies Market is anticipated to reach US$ 945 billion by 2032, growing at a CAGR of 27% between 2022 and 2032. Target market size will increase to an anticipated US$ 88 billion in 2022 from a value of US$ 65 billion in 2021. The market expansion for distance health technologies will be fueled during the forecast period by the quickly growing use and penetration of the internet along with the widespread use of smartphones and other similar devices.
The spread of smartphone technology and the ease with which one can access the internet are anticipated to support the development of distance health solutions. According to statistics, around three-quarters of Americans have access to broadband, and 80% of them own and use smartphones. All of these figures show how widely used the internet and smart gadgets are, which in turn fuels the demand for distance health technologies.
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As medical care becomes more accessible to these people thanks to distant health technologies, opportunities are also created by the physically handicapped and prospective disease carriers. Once more, benefits like better communication from home, continual and simple access to medical care, and access to high-quality care all help the market for distant health technologies to expand.
The market for distance health solutions is anticipated to expand quickly due to the advancement of communication technology and the increasing uptake by a variety of end users. The market for distance health technologies will expand throughout the forecast period because to improved networking technology, increased end-user adoption, and cost effectiveness.
“Improving communication technologies and increasing adoption by various end-users will likely spur the global growth of the distance health technologies market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Problematic policies and reimbursement rules along with the risk of the consultation being deemed clinically inappropriate may hinder the growth of the distance health technologies market.
- Increasing usage of telehealth and telemedicine services strengthen market prospects during 2022-2032.
- With a revenue of US$ 16.1 Bn in 2020, the North American distance health technologies market is expected to continue to dominate the global marketplace during the assessment period.
- Europe’s distance health technologies market will grow at a CAGR of 9% during 2022-2032.
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Competitive Landscape:
Leading market players are focusing on introducing and developing new products. Product innovation and upgradation as well as execution of programs and initiatives to raise awareness and promote the scope of distance health technologies are some of the other measures adopted by these market participants to strengthen their market position.
Cisco Systems, Accenture, PwC, Walgreens Boots Alliance, Inc. (TytoCare Ltd.), Koninklijke Philips N.V., Medtronic plc, and InTouch Health among others are some of the major players in the distance health technologies market profiled in the full version of the report.
More Insights into Distance Health Technologies Market:
In its latest report, FMI offers an unbiased analysis of the global distance health technologies market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of technology, end-user, and region.
According to the latest FMI reports, based on segmentation, hybrid cloud technology will dominate the global marketplace. Owing to the added advantages of security, privacy, and affordability, this segment is anticipated to grow at the fastest CAGR. The surging adoption of distance health technologies in numerous hospitals across the globe will result in the hospital segment of end users generating the most revenue.
Based on region, the distance health technologies market in Europe will exhibit impressive growth over the next few years. The target market in this region will expand at a CAGR of 9% and reach a value of US$ 6400 Mn by 2032. Escalating demand for digital healthcare, better access to consultations, and improved analysis of health conditions are certain factors that positively influence the growth of Europe’s distance health technologies market. The technological advancements in telecommunications technologies, increasing support for startups, and the strong presence of key market players also propel the target market towards growth in Europe.
A generally increasing usage of the internet, widespread access to smartphones and personal computers, and rising demand for access to better healthcare are factors that drive the global distance health technologies market during the forecast period.
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Distance Health Technologies Market: Segmentation
Tentatively, the global distance health technologies market has been segmented on the basis of deployment mode, end user, and geography.
Based on deployment mode, global distance health technologies market is divided into following:
- Web-Based
- On-Premises
- Off-Premises
- Hybrid Cloud
Based on end users, global distance health technologies market is divided into following:
- Hospitals
- Clinics
- Clinical Management Systems
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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