Artificial Intelligence (AI) In Remote Patient Monitoring Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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Analyzing the Growth Rate of the Artificial Intelligence (AI) In Remote Patient Monitoring Market: What’s the Expected CAGR for the Next Decade?
There has been a rapid expansion in the market size of artificial intelligence (AI) in remote patient monitoring in the past few years. The market is projected to increase from $2.23 billion in 2024 to $2.81 billion in 2025, with a compound annual growth rate (CAGR) of 26.0%. Factors contributing to this growth could be traced back to the surge in chronic diseases, enhancements in data security, AI-enabled applications that promote patient involvement, interoperability with electronic health records (EHR), and the necessity to lower healthcare expenditures.
Expected to surge exponentially in the coming years, the present size of the artificial intelligence (AI) in remote patient monitoring market is forecasted to grow to a substantial $6.58 billion in 2029, with a compound annual growth rate (CAGR) of 23.7%. The global health issues, regulatory backing, steady advancements in AI-empowered diagnostic applications, telehealth acceptance, and future enhancements in predictive analytics contribute to this growth during the predicted period. The key trends during this forecasted period consist of wearable technology, advancements in AI algorithms, machine learning methodologies, cybersecurity and data privacy, as well as personalized medication and treatment schemes.
What Strategic Factors Are Influencing the Accelerated Growth of the artificial intelligence (ai) in remote patient monitoring Market?
The elevated utilization of telemedicine is projected to boost the expansion of artificial intelligence (AI) within the remote patient monitoring sector in the impending times. The term ‘telemedicine’ pertains to the application of telecommunication technology, such as online messages, video calls, and phone calls to dispense medical services from a distance. The combination of AI in remote patient monitoring with telemedicine allows real-time analysis of data, highlighting slight alterations and cautioning healthcare experts about possible complications before they develop into critical scenarios. For example, according to a survey carried out by Rock Health, a non-profit organization based in the US, in February 2023, it was found that 80% of the participants stated having utilized telemedicine services at least once in their lives. This figure is an increment from the 72% reported in 2021, indicating an increase of 8 percentage points. Therefore, it is anticipated that the widespread acceptance of telemedicine will catalyze the enhancement of AI within the remote patient monitoring market.
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What Are the Leading Organizations Impacting the Artificial Intelligence (AI) In Remote Patient Monitoring Market’s Growth?
Major companies operating in the artificial intelligence (AI) in remote patient monitoring market report are:
• Medtronic plc_x000D_
• Siemens Healthineers_x000D_
• Koninklijke Philips N.V._x000D_
• GE Healthcare_x000D_
• DexCom Inc_x000D_
What Are the Most Prominent Trends Driving Change in the Artificial Intelligence (AI) In Remote Patient Monitoring Market?
Prominent businesses in the artificial intelligence (AI) in remote patient monitoring sphere are strategically incorporating AI into wearable gadgets such as an AI-enhanced ambulatory linked patient monitoring system. This aims to gain a market edge and improve health service delivery. An AI-enhanced ambulatory linked patient monitoring system is a healthcare innovation that merges artificial intelligence with ambulatory tracking technology to provide constant, real-time monitoring and analysis of a patient’s vitals and health indicators. For example, in October 2023, Dozee, a medical equipment company based in India, introduced ‘Dozee Pro Ex,’ an advanced ambulatory connected patient monitoring system targeted at international markets. This Indian-made solution comes with wireless wearable sensors for ongoing monitoring of essencial health indicators like ECG rhythm, blood pressure, heart rate, oxygen levels, breathing rate, and body temperature. Importantly, ‘Dozee Pro Ex’ is equipped with an AI-driven early warning system that analyzes vital parameter patterns and provides timely warnings of possible clinical complications. This futuristic product is set to revolutionize conventional healthcare approaches by facilitating round-the-clock patient monitoring, regardless of whether the patient is within a hospital, at a healthcare center, or at home.
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What Are the Major Categories and Their Growth Dynamics in the 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
What Regions Are Leading the Charge in 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.
How Is the Artificial Intelligence (AI) In Remote Patient Monitoring Market Categorized and Defined in the Industry?
Artificial intelligence (AI) in remote patient monitoring (RPM) refers to the integration of AI technologies into systems designed to monitor and manage the health and well-being of patients remotely. AI is employed to enhance the capabilities of remote monitoring solutions, providing advanced analytics, automation, and intelligent insights for healthcare professionals.
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