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Emerging Trends to Drive Artificial Intelligence (AI) In Remote Patient Monitoring Market Growth at 23.7% CAGR Through 2029
Artificial Intelligence (AI) In Remote Patient Monitoring
Artificial Intelligence (AI) In Remote Patient Monitoring Market Size Growth Forecast: What to Expect by 2025?
The market size for artificial intelligence (AI) in remote patient monitoring has seen rapid growth in recent years. It is predicted to expand from $2.23 billion in 2024 to $2.81 billion in 2025, indicating a compound annual growth rate (CAGR) of 26.0%. The surge experienced during the historic period can be credited to several factors, including the rise in chronic disease rates, the betterment of data security, AI-mediated applications that boost patient interaction, integration with electronic health records (EHR), and the necessity to lower healthcare expenses.
How Will the Artificial Intelligence (AI) In Remote Patient Monitoring Market Size Evolve and Grow by 2029?
Anticipated to undergo significant expansion in the forthcoming years, the artificial intelligence (AI) market in remote patient monitoring is set to reach a value of $6.58 billion in 2029, with a compound annual growth rate (CAGR) of 23.7%. The rise forecasted for the period can be attributed to several factors such as international health issues, regulatory backing, perpetual advancements in AI-fuelled diagnostic applications, the adoption of telehealth, and the anticipated progress in predictive analysis. Prominent trends for the prediction period are inclusive of wearable technology, developments in AI algorithms and machine learning methods, cybersecurity and data privacy measures, as well as tailored medical care and treatment plans.
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What Drivers Are Propelling the Growth of Artificial Intelligence (AI) In Remote Patient Monitoring Market Forward?
The increase in telemedicine utilization is predicted to stimulate the expansion of artificial intelligence (AI) in the remote patient monitoring sector in the near future. Telemedicine employs telecommunication technologies, such as video conferencing, phone conversations, and online chats, to deliver healthcare services from a distance. AI applied to remote patient monitoring works in conjunction with telemedicine, evaluating the collected data in real time. It can identify minor alterations and notify medical practitioners of potential concerns before they escalate into critical issues. For instance, a 2022 survey by Rock Health, a non-profit organization situated in the US, reported in February 2023 that 80% of participants had used telemedicine at some point, reflecting an 8 percent rise from 72% in 2021. Hence, the surge in telemedicine usage will potentially spur the development of AI in the remote patient monitoring market.
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Which Emerging Trends Are Transforming the Artificial Intelligence (AI) In Remote Patient Monitoring Market in 2025?
Leading entities in the AI in remote patient monitoring sector are concentrating on integrating AI with wearable devices like an AI-enabled ambulatory connected patient monitoring system to gain an edge in the market and enhance healthcare delivery. The AI-enabled ambulatory connected patient monitoring system is a health care solution that merges AI with ambulatory monitoring technology for real-time tracking and analysis of a patient's health metrics and vital signs. For instance, in October 2023, Dozee, a medical equipment manufacturing company in India, introduced 'Dozee Pro Ex,' a novel ambulatory connected patient monitoring system intended for global markets. This India-manufactured solution includes wireless wearable sensors that continuously monitor critical parameters such as ECG rhythm, blood pressure, heart rate, oxygen saturation, respiration rate, and temperature. Significantly, 'Dozee Pro Ex' features an AI-driven early warning system that examines vital parameter trends, delivering timely alerts about possible clinical decline. This innovative product aspires to transform traditional healthcare by facilitating round-the-clock patient monitoring, whether in a hospital bed, away from the bed, at a healthcare establishment, or home.
What Are the Key Segments 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
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Who Are the Key Players Shaping the Artificial Intelligence (AI) In Remote Patient Monitoring Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.
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