Top 10 Companies in Remote Healthcare Market - Company Overview, Recent Developments and SWOT Analysis 2030
The Remote Healthcare Market is driven by rising adoption of digital healthcare technologies and technological advancement. Spurred COVID-19 pandemic, increasing use of internet, smart phones, rapid digitalization, and government initiatives has given rise in use of digital healthcare technologies. Rapid adoption of software solutions by hospitals, healthcare providers, patients, and insurance payers has become the major factor in growth of remote healthcare. Remote health and related technologies are transforming the way in which care is delivered to underserved populations or individuals who otherwise face burdensome travelling times to receive specialty care, patients who have multiple chronic conditions for which transportation may be a barrier, as well as anyone balancing multiple responsibilities between family, work, exercise, and other social engagements and community activities where the convenience of remote healthcare encounter can better facilitate continuity of care. Technological advancement has also become the major factor in remote healthcare market growth. Various cutting-edge technologies like, telemedicine, digital tools, AI (artificial intelligence), electronic medical records, videoconferencing, the Internet, Store-and-Forward Imaging, Streaming Media, and Terrestrial and Wireless Communications has transformed the healthcare sector drastically. Remote patient monitoring technologies are the type of digital health platform which enable patients to be determined outside of typical clinical visit, in their home or in their community. For example, patients with hypertension who monitored blood pressure at their home shared their readings with healthcare provider has achieved significantly better blood pressure control. However, rising adoption of digital healthcare technologies and technological advancement has boosts the demand for target market growth.
Remote Healthcare Market is estimated to be US$ 57.1 billion by 2032 with a CAGR of 19.8% during the forecast period.
Here are the top 10 companies operating in Remote Healthcare Market
Founded in: 1984
Headquarter: San Jose, California, U.S.
Number of Employees: 83,200 (2022)
Annual Revenue in USD: 51.56 billion (2022)
Cisco Systems Inc., is also known as a Cisco. Cisco is the largest technology company in the world. Cisco is an American multinational company. Cisco is the developer, manufacturer, & seller of software, networking hardware, high technology services & products, telecommunication equipments. Cisco is specialized in specific tech markets which includes, domain security, Internet of Things (IoT), videoconferencing, etc. Cisco is the trusted technology partner in healthcare which connect patients, staff, porviders, with transformative technologies that power inclusive care for all people.
Key Highlights:
- In February 2022, Cisco has revealed new innovations for helping business to make hybrid work. Cisco has introduced new wireless networking & access innovations such as Cisco Private 5G, Wi-Fi 6E (Catalyst 9136 & Meraki MR57), Cisco 9000X Switches, and Cisco Silicon One which helps in delivering top speed and performance.
Founded in: 1949
Headquarter: Dublin, Ireland, Minneapolis, Minnesota, U.S.
Number of Employees: 95,000+ (2022)
Annual Revenue in USD: 31.69 billion (2022)
Medtronic plc., is an American company. Medtronic is medical device company which opeartes in more than 150 countries in the world. Medtronic has four buisness sectors like diabetes group, minimally invasive therapies group, cardiac & vascular group, and restorative therapies group. Medtronic is the developer and manufacturer of therapies and healthcare technologies which helps in treating more than 30 chronic diseases like Parkinson disease, heart disease, diabetes, down syndrome, spinal disorders, urinary incontinence, chronic pain and obesity. Medtronic’s largest business unit is the CRDM (Cardiac Rhythm Disease Management).
Key Highlights:
- In August 2022, Medtronic has announced the strategic partnership with BioIntelliSense for exclusive U.S. hospital for distribution of multi parameter BioButton wearable for continuous remote patient monitoring from in-hospital to home. BioButton wearable measures up to 1,440 vital signs per day such as respiratory rate at rest, skin temperature, heart rate at rest etc.
Founded in: 1891
Headquarter: Amsterdam, Netherlands
Number of Employees: 81,592 (2020)
Annual Revenue in EUR: 19.54 billion (2021)
Koninklijke Philips N.V., is a Dutch multinational company. Philips has currently focused on healthcare technology sector. Philips offer products like medical equipment, intellectual property and home appliances. Philips healthcare provides, healthcare solutions for diagnosis of disease. Philips has developed RPM (remote patient monitoring) program, clinical programs, patient engagement & coaching connected devices & data, which is designed for empowering healthier behavior for members and help in reducing increasing financial strains for providers, health plans, simplify monitoring, etc.
Key Highlights:
- In May 2022, Latest release of Philips Capsule Surveillance has received FDA clearance. Latest Philips solution helps in facilitating remote patient at mobile, eICU and virtual clinical touch-points. This solution is designed for identifying emergent patient deterioration and helps in offering flexible viewing options, enhanced patient data visibility and provides clinical decision support.
Founded in: 2011
Headquarter: San Jose, California
Annual Revenue in USD: 4,099.86 million (2022)
Zoom is a proprietary video-telephony software program which is developed by Zoom Video Communication. Zoom is compatible with iOS Windows, Android, Linux, macOS, ChromeOS, etc. Zoom is a cloud based communication platform. Zoom offers, content sharing, voice chat, video conferencing, etc. Zoom platform is used by healthcare organizations of all sizes across the world. Zoom provides applications which includes, collaborative health, telehealth, population based care and medical education, etc. which will help in improving patients live.
Key Highlights:
- In June 2022, Zoom has emerged as panacea to healthcare organizations who are struggling for making health services more efficient. Zoom offers high quality and cost-effective solutions. Zoom helps in managing healthcare professional resources, helps in improving quality of care for their patients, help in reducing cost and makes health services more efficient.
Founded in: 2002
Headquarter: New York, U.S.
Number of Employees: 5,100 (2021)
Annual Revenue in USD: 2,032.71 million (2021)
Teladoc Health Inc., is a multinational company of telemedicine and virtual healthcare. Teladoc offer primary services which includes, medical opinion, telehealth, telehealth devices, AI & analytics, and licensable platform services. Teladoc uses videoconferencing software, mobile apps and telephone services for providing on-demand remote medical care.
Key Highlights:
- In January 2023, Teladoc Health has launched new fully integrated Whole-Person Care experience with new comprehensive digital app. Newly launched app will help the customers to navigate quickly across eligible services by reviewing all physician based integrated care plans and accessing to care co-ordination capabilities with in-person providers by ensuring that clinical needs are met.
Founded in: 2006
Headquarter: Boston, Massahusetts, U.S.
Number of Employees: 851 (2021)
Annual Revenue in USD: 252.79 million (2021)
Amwell is a public company which offers mobile and web patient to physician teleconferencing services. Amwell is a seller of platform as a subscription services to healthcare providers for keeping medical professionals online, provides APIs, proprietary development kits. Amwell’s telemedicine carts bring remote physicians right to side of patient which are designed & tested for safe, reliable and friendly use.
Key Highlights:
- In March 2022, Amwell has partnered with LG an electronic giant for developing digital health tool by starting with hospital care in U.S. This partnership will allow LG to create devices which can host services from Amwell’s virtual care platform converge.
Founded in: 2006
Headquarter: Greater Miami Area, East Coast, Southern U.S.
Clear Arch Health offers healthcare organization with innovative & advanced turn keys such as Remote Life Safety (RLS), Remote Patient Monitoring (RPM), Personal Emergency Response Systems (PERS) solution which helps in enabling providers for achieving sustainable goals in patient experience, cost efficiency and improved outcomes.
Key Highlights:
- In January 2023, Clear Arch Health has launched Clear Arch Mobile App which is a new, convenient RPM (remote patient monitoring) app. This newly launched app will help patients for self-monitoring their own health status with their own mobile device by enhancing health data security & peace of mind.
Founded in: 1999
Headquarter: Kansas City, Metropolitan area, U.S.
Number of Employees: 650 (2017)
InTouch Solution, is a private company of healthcare consulting. InTouch Solution is specialized in pharmaceutical marketing, especially digital & in development. The company supplies innovative solutions to pharmaceutical industries, hospitals, healthcare institutions, patient associations, other stakeholders, etc.
Founded in: 2004
Headquarter: Southern U.S.
AirStrip Technologies is a private company which provides platform for delivering critical information with virtual real time waveform data, directly to smartphone, laptop or desktop of doctors. AirStrip Technologies platform is scalable, usable & data independent which can be employed through healthcare enterprise.
Founded in: 2018
Headquarter: Greater New York, East Coast, Northeastern U.S.
Sesame Care connects providers & patients directly with clear descriptions and up front prices of medical services. Sesame Care offer products such as Kubernetes Engine, Google Cloud, Cloud SQL, Cloud Pub/Sub, and Cloud Functions. Around 86% of appointments made on Sesame platform are virtual.