How Has the Artificial Intelligence AI In Remote Patient Monitoring Market Size Evolved in Recent Years?
The artificial intelligence ai in remote patient monitoring market has seen considerable growth due to a variety of factors.
• The scope of artificial intelligence (AI) within the realm of remote patient monitoring has expanded at an impressive pace over the recent years. The market size which stood at $2.23 billion in 2024, is projected to escalate to $2.81 billion in 2025, marking a compound annual growth rate (CAGR) of 26.0%.
This significant surge during the historical period is primarily driven by factors such as a rise in chronic diseases, improvements in data security, AI-enabled applications fostering higher patient involvement, integration with electronic health records (EHR), and the pressing need to cut down on healthcare expenses.
What are the Market Size and Expected Growth Rates for the Artificial Intelligence AI In Remote Patient Monitoring Market?
The artificial intelligence ai in remote patient monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• Expect substantial expansion in the upcoming years for the artificial intelligence (AI) market within remote patient monitoring. Forecasts predict a rise to $6.58 billion by 2029 at a compound annual growth rate (CAGR) of 23.7%.
Growth in this period can be credited to global health issues, regulatory authorization, persistent advancements in AI-driven diagnostic applications, the adoption of telehealth, and future strides in predictive analytics. Wearable technology, improvements in AI algorithms and machine learning methodologies, cybersecurity coupled with data privacy, as well as personalized medicine and treatment plans, will all be key trends within this forecast period.
Which Key Drivers Are Propelling The Artificial Intelligence AI In Remote Patient Monitoring Market's Growth?
The rise in telemedicine usage is expected to fuel the expansion of artificial intelligence (AI) in the remote patient monitoring market in the upcoming years. Telemedicine involves the utilization of telecommunication technology, such as video conferencing, phone calls, and internet messaging, to deliver healthcare services from a distance. AI combined with remote patient monitoring and telemedicine reviews recorded data in real time, identifying minor modifications and notifying healthcare experts of potential problems before they escalate to emergencies. For example, a survey in 2022 by Rock Health, a non-profit organization based in the US, revealed that in February 2023, 80% of participants confirmed using telemedicine services at some stage in their life, an increase from 72% in 2021 by 8 percentage points. Consequently, the increased adoption of telemedicine is likely to spur the development of artificial intelligence (AI) in the remote patient monitoring market.
What Are The Key Segments Within The Global Artificial Intelligence AI In Remote Patient Monitoring Market?
The artificial intelligence (AI) in remote patient monitoring market covered in this report is segmented –
1) By Solution: Software, Hardware, Services
2) By Product: Vital Monitors, Special Monitors, Other Products
3) By Technology: Natural Language Processing, Machine Learning, Querying Method, Speech Recognition
4) By Application: Diabetes, Respiratory Issues, Weight Management And Fitness Monitoring, Cancer, Dehydration, Cardiovascular Diseases, Sleep Disorder, Viral Infection, Other Applications
Subsegments:
1) By Software: Predictive Analytics, Data Management, Monitoring Platforms, Mobile Applications
2) By Hardware: Wearable Devices, Sensors, Medical Devices
3) By Services: Implementation Services, Training And Education Services, Support And Maintenance Services
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How Are Emerging Trends Reshaping The Dynamics Of The Artificial Intelligence AI In Remote Patient Monitoring Market?
Leading businesses in the AI in remote patient monitoring market are making strides by merging AI with wearable technology, such as an AI-enhanced ambulatory connected patient monitoring system, in order to maintain their competitive edge and enhance the quality of healthcare services. The AI-optimized ambulatory connected patient monitoring system is a healthcare solution that melds AI with ambulatory monitoring technology for real-time tracking and analysis of a patient's health indicators. For example, in October 2023, Dozee, a medical equipment producing firm based in India, unveiled 'Dozee Pro Ex,' a revolutionary ambulatory connected patient monitoring system targeting international markets. This product, conceived and created in India, boasts of wireless wearable sensors for incessant tracking of vital parameters, such as ECG rhythm, blood pressure, heart rate, oxygen saturation, respiration rate, and temperature. The 'Dozee Pro Ex' notably incorporates an AI-enabled early warning system that scrutinizes vital parameter trends and provides early warnings for possible clinical decline. With this breakthrough product, the aim is to transform the traditional healthcare landscape by allowing round-the-clock patient monitoring, regardless of the patient's location—be it a hospital bed, other parts of a healthcare facility, or their own home.
Who Are the Key Players In The Artificial Intelligence AI In Remote Patient Monitoring Market?
Major companies operating in the artificial intelligence (AI) in remote patient monitoring market report are:
• Medtronic plc
• Siemens Healthineers
• Koninklijke Philips N.V.
• GE Healthcare
• DexCom Inc
• Cerner Corporation
• Infosys BPM
• Tunstall Healthcare
• Connect America LLC
• American Well
• Biofourmis
• Tempus
• Merative L.P.
• Vivify Health
• Clarify Health Solutions
• Current Health
• BioIntelliSense
• Preventice Solutions
• AiCure LLC
• Orbita
• MobileHelp
• EarlySense
• Gyant
• Myia Labs
• Sentrian
• Biobeat
• ChroniSense Medical Ltd.
• Somatix Inc.
• Twistle
• HealthWatch Technologies
What Are The Regional Insights Into The Artificial Intelligence AI In Remote Patient Monitoring Market?
North America was the largest region in the artificial intelligence (AI) in remote patient monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in remote patient monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
