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Telemedicine Tools and Software Providers Market: Industry Trends and Global Forecasts, 2021-2030

·13-min read

INTRODUCTION In the last few years, there has been an evident rise in the global disease burden. More importantly, the inability to report a health issue to a medical practitioner in its initial stages is expected to cost over USD 90 billion in excess and more than USD 40 billion in productivity loss, each year.

New York, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Telemedicine Tools and Software Providers Market: Industry Trends and Global Forecasts, 2021-2030" - https://www.reportlinker.com/p06183526/?utm_source=GNW
Moreover, a number of individuals that are required to frequent hospitals for monitoring of their health conditions, such visits cause additional financial burden. The aforementioned concerns can be mitigated by shifting to a home-based care setting. Amidst the recent initiatives in this context, remote patient monitoring (RPM) has emerged as a potent and sought-after alternative in the healthcare industry. During the COVID-19 pandemic, the healthcare industry evolved significantly, due to the need and urgency to treat patients with the aid of telemedicine and digital platforms. RPM technologies enable monitoring of patients virtually for a wide range of diseases from anywhere around the globe. It is worth mentioning that large volumes of health data can be accessed by medical researchers on dedicated cloud servers that have been designed to comply with the Health Insurance Portability and Accountability Act (HIPAA) of 1996. In addition to improved quality of care and better access to the patients, RPM offers ease of implementation, leading to substantial time and cost saving (by eliminating the need for transportation and waiting in queue to meet the physician).

Considering the various advantages offered by RPM, healthcare organizations are gradually becoming more receptive to adopting such software solutions for their regular use. As a matter of fact, the recent surge in demand for remote monitoring amidst the COVID-19 pandemic has served to create a strong case for organizations to shift to the use of remote patient monitoring consultation tools and software. In fact, a recent study stated that over 50% of the healthcare consumers would consider using RPM solutions as a part of their medical treatment, if recommended by their physician. Over the years, telemedicine start-ups have seen a significant growth. These companies are engaged in providing tailored solutions, along with remote access of medical care facilities to the patients. It is worth mentioning that around 90% of the healthcare organizations have either invested or intend to invest in remote patient monitoring systems. , Given the rising trend of remote patient monitoring software solutions in the healthcare industry and the ongoing efforts of software providers to further improve / expand their respective offerings, we believe that the remote patient monitoring consultation tools and software providers market is likely to evolve at a steady pace, till 2030.

SCOPE OF THE REPORT
The “Telemedicine Tools and Software Providers Market: Focus on Remote Patient Monitoring, 2021-2030, Distribution by Area of Application (Blood Glucose, Blood Pressure, Body Temperature, Electrocardiogram, Oxygen Saturation, Respiration Rate, and Others), Therapeutic Areas (Cardiovascular Disorders, Infectious Diseases, Metabolic Disorders, Oncological Disorders, Respiratory Disorder, and Others), Product / Software Purpose (Commercial Purpose and Clinical Purpose), Type of Business Model (B2B and B2C), and Geography (North America, Europe, Asia-Pacific, Latin America, and MENA)” report features an extensive study of the current market landscape and the likely future potential of the remote patient monitoring software providers market, over the next decade. The study also features an in-depth analysis, highlighting the capabilities of various industry stakeholders engaged in this field.

Amongst other elements, the report features:
A detailed overview of the overall market landscape of players engaged in providing remote patient monitoring consultation tools and software, along with the information on several relevant parameters, such as year of establishment, company size, location of headquarters. Further, it highlights a detailed assessment of the overall market landscape of more than 200 consultation tools and software based on several relevant parameters, such as type of software (software as a system and software as a service), area of application (blood glucose, blood pressure, electrocardiogram (ECG), oxygen saturation, respiration rate, temperature, and others), therapeutic areas (cardiovascular disorders, infectious diseases, metabolic disorders, oncological disorders, respiratory disorder, and other disorders), product / software purpose (commercial purpose and clinical study purpose), type of telemedicine operation (store-and-forward, remote monitoring, and real-time), type of remote patient monitoring service (data collection, transmission, evaluation, and notification), type of business model (B2B and B2C).
Elaborate profiles of prominent players (shortlisted based on number of software being offered by mid-sized and large players established before 2010) engaged in the development of remote patient monitoring software. Each company profile features a brief overview of the company, along with information on year of establishment, number of employees, location of headquarters, key executives, financial details / information (if available), product portfolio, recent developments and an informed future outlook.
An analysis of the recent partnerships inked between remote patient monitoring software providers, during the period 2015-2021 Additionally, it includes a brief description of the various types of partnerships models (such as product / software integration agreement, service alliance, service agreement, product / software development agreement, full business acquisition, product / software distribution agreement, product / software utlilization agreement, and product portfolio acquisition) that have been adopted by stakeholders engaged in this domain, during the period 2015-2021.
A detailed analysis of various investments made by players engaged in this domain based on several relevant parameters, such as year of investment, number of funding instances, amount invested and type of funding (such as, venture capital, private equity, secondary offerings, debt, initial public offering (IPO), other equity, seed, grant, and others), along with information on the most active players (in terms of number of funding instances and amount raised) and most active investors (in terms of number of funding instances).
An in-depth product competitiveness analysis of remote patient monitoring software based on supplier power (in terms of expertise of the developer) and key product-related specifications (such as status of development, HIPPA compliant, type of software, area(s) of application, number of therapeutic areas, purpose of software, number of patient monitoring related services, type of telemedicine operation, and type of business model).
An insightful analysis highlighting the likely cost saving potential associated with the use of remote patient monitoring consultation tools and software solutions, taking into consideration various parameters, such as number of patient visits (in-patient and out-patient) and increase in efficiency by adoption of remote patient monitoring software solutions.
An elaborate discussion on how the recent COVID-19 pandemic is likely to impact the remote patient monitoring software market, along with information on the key initiatives undertaken by players engaged in this domain to overcome the challenges faced due to the pandemic.
A discussion on affiliated trends, key drivers and challenges, under a SWOT framework, which are likely to impact the industry’s evolution, along with a Harvey ball analysis, highlighting the relative effect of each SWOT parameter on the overall remote patient monitoring tools and software providers industry.

One of the key objectives of this report was to evaluate the current opportunity and the future potential associated with the remote patient monitoring consultation tools and software providers market, over the coming decade. We have developed an informed estimate on the likely evolution of the market in the short to mid-term and long term, for the period 2021-2030. Additionally, the report features the likely distribution of the current and forecasted opportunity across [A] area of application (blood glucose, blood pressure, ECG, oxygen saturation, respiration rate, temperature, and others) [B] target therapeutic area (cardiovascular disorders, infectious diseases, metabolic disorders, oncological disorders, respiratory disorder, and others), [C] software purpose (commercial purpose and clinical study purpose), [D] type of business model (B2B and B2C), and [E] key geographical regions (North America, Europe, Asia-Pacific, Latin America, and MENA (Middle East and North Africa)). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.

KEY QUESTIONS ANSWERED
Who are the leading players engaged in the development of remote patient monitoring tools and software?
Which type of software is most commonly offered by remote patient monitoring consultation tools and software providers?
Which kind of partnership models are commonly adopted by stakeholders engaged in this industry?
What is the relative competitiveness of different remote patient monitoring software solutions?
What is the likely cost saving potential associated with the use of remote patient monitoring software?
What are the key challenges currently faced by stakeholders in this industry?
What are the anticipated future trends related to remote patient monitoring consultation tools and software providers?
How is the current and future market opportunity likely to be distributed across key market segments?
What is the likely impact of the ongoing COVID-19 pandemic on the overall remote patient monitoring market?

RESEARCH METHODOLOGY
The data presented in this report has been gathered via secondary and primary research. For all our projects, we have conducted interviews with various experts in this domain (academia, industry, medical practice and other associations) in order to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and technology segments. Where possible, the available data has been checked for accuracy from multiple sources of information.

The secondary sources of information include
Annual reports
Investor presentations
SEC filings
Industry databases
News releases from company websites
Government policy documents
Industry analysts’ views

While the focus has been on forecasting the market over the coming 10 years, the report also provides our independent view on various technological and non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market gathered from various secondary and primary sources of information.
sources of information.

CHAPTER OUTLINES
Chapter 2 is an executive summary of key insights captured in our research. It offers a high-level view on the current state of remote patient monitoring market and its likely evolution in the mid to long term.

Chapter 3 provides a general introduction to remote patient monitoring tools and software, featuring details related to the current and future trends in the domain. It further includes a brief introduction to the concept of telemedicine and its types, along with information on the need for software systems in this domain, along with the various patient monitoring related services offered by players. Furthermore, it highlights prevalent regulatory guidelines, as well as advantages and risks associated with the use of such tools and software.

Chapter 4 provides a detailed review of the overall market landscape of players engaged in providing remote patient monitoring consultation tools and software, along with the information on several relevant parameters, such as year of establishment, company size, location of headquarters. Further, it highlights a detailed assessment of the overall market landscape of more than 200 consultation tools and software based on several relevant parameters, such as type of software (software as a system and software as a service), area of application (blood glucose, blood pressure, electrocardiogram (ECG), oxygen saturation, respiration rate, temperature, and others), therapeutic areas (cardiovascular disorders, infectious diseases, metabolic disorders, oncological disorders, respiratory disorder, and other disorders), product / software purpose (commercial purpose and clinical study purpose), type of telemedicine operation (store-and-forward, remote monitoring, and real-time), type of remote patient monitoring service (data collection, transmission, evaluation, and notification), type of business model (B2B and B2C).

Chapter 5 features elaborate profiles of prominent players (shortlisted based on number of software being offered by mid-sized and large players established before 2010) engaged in the development of remote patient monitoring software. Each company profile features a brief overview of the company, along with information on its year of establishment, number of employees, location of headquarters, key executives, financial details / information (if available), product portfolio, recent developments and an informed future outlook.

Chapter 6 features an analysis of the recent partnerships inked between remote patient monitoring software providers, during the period 2015-2021 Additionally, it includes a brief description of the various types of partnerships models (such as product / software integration agreement, service alliance, service agreement, product / software development agreement, full business acquisition, product / software distribution agreement, product / software utlilization agreement, and product portfolio acquisition) that have been adopted by stakeholders engaged in this domain, during the period 2015-2021.

Chapter 7 provides an analysis of various investments made by players engaged in this domain based on several relevant parameters, such as year of investment, number of funding instances, amount invested and type of funding (such as, venture capital, private equity, secondary offerings, debt, initial public offering (IPO), other equity, seed, grant, and others), along with information on the most active players (in terms of number of funding instances and amount raised) and most active investors (in terms of number of funding instances).

Chapter 8 features an in-depth product competitiveness analysis of remote patient monitoring software based on supplier power (in terms of expertise of the developer) and key product-related specifications (such as status of development, HIPPA compliant, type of software, area(s) of application, number of therapeutic areas, purpose of software, number of patient monitoring related services, type of telemedicine operation, and type of business model).

Chapter 9 presents insights from an insightful analysis highlighting the likely cost saving potential associated with the use of remote patient monitoring consultation tools and software solutions, taking into consideration various parameters, such as number of patient visits (in-patient and out-patient) and increase in efficiency by adoption of remote patient monitoring software solutions.

Chapter 10 features a detailed market forecast analysis, highlighting the likely evolution of the market in the short to mid-term and long term, for the period 2021-2030. Additionally, the report features the likely distribution of the current and forecasted opportunity across [A] area of application (blood glucose, blood pressure, ECG, oxygen saturation, respiration rate, temperature, and others) [B] target therapeutic area (cardiovascular disorders, infectious diseases, metabolic disorders, oncological disorders, respiratory disorder, and others), [C] software purpose (commercial purpose and clinical study purpose), [D] type of business model (B2B and B2C), and [E] key geographical regions (North America, Europe, Asia-Pacific, Latin America, and MENA (Middle East and North Africa)). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

Chapter 11 features an insightful discussion on how the recent COVID-19 pandemic is likely to impact the remote patient monitoring software market, along with information on the key initiatives undertaken by the developers engaged in this domain to overcome the challenges faced due to the pandemic.

Chapter 12 provides a detailed discussion on affiliated trends, key drivers and challenges, under a SWOT framework, which are likely to impact the industry’s evolution, along with a Harvey ball analysis, highlighting the relative effect of each SWOT parameter on the overall remote patient monitoring tools and software providers industry.

Chapter 13 is a summary of the entire report. In this chapter, we have provided a list of key takeaways from the report, and expressed our independent opinion related to the research and analysis described in the previous chapters.

Chapter 14 is a collection of interview transcripts of the discussion(s) that were held key stakeholders in the industry.

Chapter 15 is an appendix, which provides tabulated data and numbers for all the figures included in the report.

Chapter 16 is an appendix, which contains a list of companies and organizations mentioned in this report.
Read the full report: https://www.reportlinker.com/p06183526/?utm_source=GNW

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