The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Artificial Intelligence (AI) In Remote Patient Monitoring Global Market Report 2024, the artificial intelligence (AI) in remote patient monitoring market is expected to show significant growth in the forecast period.

Exponential Market Growth

• Current Market Size: The AI in remote patient monitoring market is booming, growing from $1.80 billion in 2023 to $2.23 billion in 2024.
• CAGR: The market is expanding at a compound annual growth rate (CAGR) of 24.0%.
• Historic Growth Factors: Increased chronic disease rates, data security improvements, AI-driven applications enhancing patient engagement, integration with EHRs, and the need to reduce healthcare costs have fueled this growth.

Future Market Projections

• Expected Market Size: The market is projected to reach $5.31 billion by 2028, with a CAGR of 24.2%.
• Growth Drivers: Global health challenges, regulatory support, advancements in AI-powered diagnostics, telehealth adoption, and predictive analytics developments are key factors.
• Trends to Watch: Wearable technology, AI algorithm and machine learning advancements, cybersecurity, data privacy, and personalized medicine.

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Telemedicine Adoption Propelling AI Growth

• Role of Telemedicine: Telemedicine uses telecommunications technology to provide remote medical services, driving AI in remote patient monitoring.
• Integration Benefits: AI analyzes telemedicine data in real-time, detecting changes and alerting healthcare professionals before emergencies occur.
• Adoption Rates: Over 95,000 practitioners utilized telehealth services in Australia, offering 118.2 million services to 18 million patients from March 2020 to July 2022.

Key Market Players

• Major Companies: 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.

AI-Powered Ambulatory Monitoring Systems

• Technological Integration: Companies focus on integrating AI with wearable devices for ambulatory connected patient monitoring systems.
• Innovative Solutions: Dozee launched ‘Dozee Pro Ex,’ a wireless wearable sensor system for continuous monitoring of vital parameters.
• Benefits: The AI-powered early warning system in ‘Dozee Pro Ex’ delivers timely alerts for potential clinical deterioration, enabling 24/7 monitoring.

Strategic Acquisitions

• Notable Acquisition: Connect America LLC acquired 100Plus in August 2021, merging PERS with AI-driven remote patient monitoring.
• Unified Platform: The acquisition combines Connect America’s emergency response services with 100Plus’s RPM platform, enhancing care management.
• Integration Impact: The amalgamation creates a robust, unified platform for better patient monitoring and care.

Market Segmentation

• By Solution: Software, Hardware, Services
• By Product: Vital Monitors, Special Monitors, Other Products
• By Technology: Natural Language Processing, Machine Learning, Querying Method, Speech Recognition
• By Application: Diabetes, Respiratory Issues, Weight Management, Cancer, Dehydration, Cardiovascular Diseases, Sleep Disorder, Viral Infection, Other Applications

Regional Insights

• Largest Region: North America was the largest region in 2023.
• Fastest Growing Region: Asia-Pacific is expected to be the fastest-growing region during the forecast period.
• Covered Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The AI in remote patient monitoring market is set to transform healthcare delivery, driven by telemedicine adoption, technological advancements, and strategic acquisitions. As the market grows, it offers promising opportunities for improving patient care and optimizing healthcare systems worldwide.

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