AI in Remote Patient Monitoring Market to Hit $6.89 Billion by 2031.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global AI in Remote Patient Monitoring Market- (By Product (Special Monitors (Anaesthesia Monitors, Blood Glucose Monitor, Cardiac Rhythm Monitor, Fetal Heart Rate Monitor, Multi-Parameter monitors, Prothrombin Monitors, Respiratory Monitor), Vital Monitors (Blood Pressure Monitor, Brain Monitor, Heart Rate Monitor, Pulse Oximeter, Respiratory Monitor, Temperature Monitor)), By Solution (Hardware, Services, Software), By Technology (Machine Learning, Natural Language Processing, Querying Method, Speech Recognition), By Application (Cancer, Cardiovascular Diseases, Dehydration, Diabetes, Infections, Respiratory Issues, Sleep Disorders, Viral Infection, Weight Management & Fitness Monitoring)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global AI in Remote Patient Monitoring Market is valued at USD 1,221.35 Mn in 2022, and it is expected to reach USD 6,896.41 Mn by 2031, with a CAGR of 21.3% during a forecast period of 2023-2031.

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AI in remote patient monitoring (RPM) involves using artificial intelligence for the analysis and collection of patient data remotely. It enables continuous monitoring, early detection of health issues, personalized care plans, and cost reduction. AI enhances patient engagement and helps healthcare providers make informed decisions, all while ensuring data security and privacy.

The demand for AI in the market for remote patient monitoring services is growing as a result of factors such as increasing internet and mobile phone penetration, increasing healthcare expenditures, and the growing need for real-time data to support decision-making and deliver high-quality care to patients. Rising government actions to boost the use of AI in healthcare are having a beneficial effect on industry expansion. For example, the government introduced the Executive Order on Maintaining American Leadership in Artificial Intelligence in February 2019 to lower barriers to using AI technology in the United States, improve access to fully traceable, high-quality federal data, and maintain privacy, confidential protections, safety, and security concerning applicable laws and policies. The number of companies, mergers and acquisitions, investments, and collaborations is rising, which is helping to further improve AI in the market for remote patient monitoring.

List of Prominent Players in the AI in Remote Patient Monitoring Market:
• 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.

Market Dynamics:
Drivers-
The market for remote patient monitoring is primarily driven by the rising population of old people and the growing demand to increase healthcare access. The need for remote patient monitoring systems is driven by an increase in elderly individuals who need medical attention. The use of remote patient monitoring devices facilitates older patients' communication with their doctors and access to healthcare without needing to make frequent hospital visits. The need for remote patient monitoring systems is also being driven by the need to lower healthcare expenses and the need to better care for patients in remote and rural locations.

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Challenges:
However, the use of artificial intelligence for remote patient monitoring has raised some significant patient protection challenges. Because embedded visual data is susceptible to attacks and cannot be controlled, not all patients are comfortable utilizing it. As a result, the market's revenue growth is somewhat restrained.

Regional Trends:
North America registered the fastest CAGR in the market. The increasing prevalence of chronic diseases brought on by lifestyle changes, the ageing population, and the mobility and convenience of the use of devices all contribute to the region's rapid rise. The rising geriatric population is more likely to create chronic diseases that need proper monitoring as well as diagnosis. Due to this, the adoption of remote patient monitoring to regularly monitor patients' conditions and status is anticipated to rise, driving the growth of the market.

Recent Developments:
• In June 2023, care.ai and Samsung formed a partnership to implement AI-driven patient monitoring using display technology. Samsung included the Smart Care Facility Platform of the Orlando-based startup into its screens, aiming to enhance patient monitoring inside the healthcare environment.
• In Feb 2022, Biofourmis and virtual care announced a multi-year agreement with UCI Health to facilitate continuous artificial intelligence (AI)-powered remote monitoring of acute and post-acute care patients in their homes using Biofourmis instruments. UCI Health's legacy remote patient monitoring system will be replaced by Biofourmis' RPM platform, which will continue monitoring appropriate patients after discharge.

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Segmentation of AI in Remote Patient Monitoring Market-
By Product-
• Special Monitors
o Anaesthesia Monitors
o Blood Glucose Monitor
o Cardiac Rhythm Monitor
o Fetal Heart Rate Monitor
o Multi-Parameter monitors
o Prothrombin Monitors
o Respiratory Monitor
• Vital Monitors
o Blood Pressure Monitor
o Brain Monitor
o Heart Rate Monitor
o Pulse Oximeter
o Respiratory Monitor
o Temperature Monitor
By Solution-
• Hardware
• Services
• Software
By Technology-
• Machine Learning
• Natural Language Processing
• Querying Method
• Speech Recognition
By Application-
• Cancer
• Cardiovascular Diseases
• Dehydration
• Diabetes
• Infections
• Respiratory Issues
• Sleep Disorders
• Viral Infection
• Weight Management & Fitness Monitoring
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.