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Artificial Intelligence (AI) in Remote Patient Monitoring Market: Contours

The shift from volume-based to value-based care in healthcare sector has opened a new paradigm in healthcare IT. A wide spectrum of ICT-based eHealth systems have opened up new value propositions in value based care. Cutting-edge technologies and tools including artificial intelligence (AI) have made healthcare delivery patient-centric, and promises to improve the clinical outcomes. AI in particular has gained groundswell of attention as an adjunct technology for guiding clinical decision, diagnosing disease conditions in the early stage, and monitoring patients suffering from chronic diseases. The drive for the AI in remote patient monitoring market has stemmed from these value propositions.

The role of technologies has transcended geographical barriers and reduced the numbers of in-person visits. Most important, eHealth technologies powered by AI has opened a vast avenue for holistic patient care, with remote patient monitoring garnering massive attention among the proponents. Payers, providers, and policy makers are exploring the role of various AI-powered tools and platforms for delivering better patient experiences, thereby extending the horizon in the AI in remote patient monitoring market.

Some of the allied areas to AI apart from remote patient monitoring are electronic health records (EHR), robotics, telehealth and telemedicine, and diagnosis. These are all interrelated in that these seek to enrich one another in the delivery of quality patient care. Strides made in telehealth in some countries, notably pivoting on continuous advancements in ICT in health care, has expanded the outlook of the AI in remote patient monitoring market.

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Artificial Intelligence (AI) in Remote Patient Monitoring Market: Current Prospects and Emerging Avenues

The demand in the AI in remote patient monitoring market is thriving on the back on the critical role of technologies in monitoring of patient cohorts with diseases that are prone to fatal adverse incidents. Patients with neurological and cardiovascular diseases, thus, have been increasingly benefitted from the use of telehealth in remote monitoring. The preference will stay in future as well, since there is a pressing need to reduce the morbidity and mortality of these diseases. AI and robotics play a massive role in facilitating remote monitoring of chronic illnesses that are prone to adverse outcomes such as cardiac failure, which need emergency department hospitalization. The adoption of AI is boosting the revenue streams for players in the AI in remote patient monitoring market.

In recent decades, several healthcare systems around the world have integrated with electronic health for a centralized and easy access to patient’s medical history, medications, treatment plans, radiology images, immunization schedules, and laboratory and test results. AI has helped boost the accuracy in diagnosis and therapeutics, thereby boosting the demand in the AI in remote patient monitoring market. The application of AI in clinical decision systems has also risen on back of the propositions of accuracy and precision in these areas.

Artificial Intelligence (AI) in Remote Patient Monitoring Market: Competitive Scenario

A number of healthcare companies aspiring to capitalize on emerging prospect of personalized medicine are keen on entering into partnerships and alliances with technology companies pioneering in AI. The value chain of the AI in remote patient monitoring market has thus been enriched by proliferation of eHealth apps. Technology stalwarts such as Apple are offering products that offer remote patient monitoring for general wellbeing. Technology companies are expanding sizable R&D in wearables to grow in the AI in remote patient monitoring market.

A number of healthcare providers have strengthened the product portfolio by integrating more security features in AI tools that comply with regional and global patient privacy concerns and data safety. The trend will unlock the scope of strategic alliances and collaborations among players, expanding the horizon of the AI in remote patient monitoring market.

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Artificial Intelligence (AI) in Remote Patient Monitoring Market: Regional Growth Avenues

North America has been highly lucrative regions for healthcare tech companies in the global Ai in remote patient monitoring market landscape. The growth in the North America has been fueled by extensive R&D in health wearables and growing acceptance of mHealth apps. Strides made in telehealth and telemedicine has made Asia Pacific a potentially lucrative market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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