The next generation of healthcare will have a face that will likely be much different than anything seen before. The push to rapid innovation, especially in the wake of COVID-19 pandemic, resulted in solutions that provided new outlook in the way healthcare is supervised. As all the industries adjusted to working remotely, healthcare has been more benefitted than most with this shift, where doctors and other clinicians turned to emerging technological solutions in order to keep up with growing demand for healthcare services while keeping patients safe.
Telehealth had already been a prevailing practice that was beneficial for patients located in remote areas. It was swiftly leveraging technology, providing on-demand consultations to patients. However, the epic pandemic brought its awareness at great extent. It became the silver lining, as government-imposed lockdowns and transmission of the virus restricted physical human interactions. Since in-person visits had to be avoided due to the significant increased risk to patients, telehealth services were rapidly adopted which greatly helped in expanding the access to healthcare. The global telehealth market is likely to witness a growth rate of nearly 24% through 2023-2035.
New solutions to telehealth not only helped healthcare providers to see patients through, but also provided patients with faster, more accurate and complete care. Solutions did not only just expand to texts, phone calls, image forwarding, video consultations, but went further to remote patient monitoring and robust patient health portals. Remote patient monitoring emerged as a significant strategy for telehealth globally, creating robust opportunities for companies that largely dealt outside of the traditional healthcare technology. As per our analysis, the global remote patient monitoring market is estimated to cross a revenue of USD 36 Billion by the end of 2033.
Technological innovations have fostered the potential of telehealth. The most effective benefit of telehealth services is the convenience and ease of access, for both healthcare providers and patients. With leveraging technology such as smart wearables and smart home communication systems, telehealth services have improved in the quality and quantity of care provided to consumers. Smart devices provide direct and relevant patient data, and allow constant daily remote monitoring, resulting in obvious benefits to patient care. Along with improved quality, it also improves patient behavior by creating a system where people are more engaged with and responsible for their health. It has also given people a sense of assurance and comfort that someone is watching over their health and well-being on a daily basis.
The healthcare industry, today, has created an environment where consumers can demand quality services, lower costs, and easy and convenient access to services. Telehealth has emerged as an innovative and valuable strategy to provide quality healthcare services at lower costs with an easy and effective accessibility. As the most straight-forward initiatives toward revolutionizing digital health, the telehealth market is expanding as new companies are emerging with new and more innovative solutions to improve the potential of telehealth services. Remote patient monitoring is the most effective trend which has changed the competitive and relationship dynamics of telehealth industry, and will continue to be very active as the industry expands with new solutions coming in together. Some of the recent trends that is predicted to shape the future of telehealth services are: