Report : Australia and New Zealand Remote Healthcare Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Service (Real Time Virtual Health, Remote Patient Monitoring, and Tele-ICUs); and End-User (Healthcare Providers, Patients, Payers, Employer Groups and Government Organizations)
Rise in Use of Telehealth and Virtual Care During COVID-19 Pandemic to Drive Remote Healthcare Market
According to our new market research study on "Australia and New Zealand Remote Healthcare Market to 2028 – Country Analysis and Forecast – by Service and End User," the market is expected to grow from 1,545.82 million in 2022 to US$ 8,317.66 million by 2028; it is estimated to grow at a CAGR of 27.3% from 2022 to 2028. The report highlights trends prevailing in the market and drivers and restraints pertaining to the remote healthcare market growth in Australia and New Zealand.
Remote health is revolutionizing the healthcare industry and can be seen as a subset of healthcare IT that offers medical assistance to remotely located patients. It is a telemedicine service that minimizes hospital visits and reduces patient waiting time. Moreover, it allows constant monitoring of the patient's condition and performs preventive and control check-ups outside medical facilities. This form of care is done using mobile devices which measure vital signs.
Rise in Use of Telehealth and Virtual Care During COVID-19 Pandemic
Telehealth in Australia was first proposed in 2011. The Australian Government's Telehealth initiative has assisted patients across the country to connect with clinicians and access a broad range of care services remotely. However, before the COVID-19 pandemic, telehealth was not routinely available for primary care or urban specialist appointments. Until 2020, the number of active use cases and patient uptake for remote healthcare remained relatively low. When the number of COVID-19 cases increased, hospitals and clinics were forced to change how they operated. As the local lockdowns limited how patients could access care, virtual care services and telehealth were thrust into the spotlight, going from niche alternatives to primary healthcare delivery channels for millions of people. According to a survey by the Royal Australian College of General Practitioners, 13% of general practitioners (GPs) had offered care to patients over the telephone before the pandemic. In early 2020, the figure rose to 99% as GPs adapted to the conditions created by COVID-19.
Virtual care has played a huge role in safeguarding the health and well-being of millions of people during the critical early months of the pandemic. However, perhaps even more importantly, the surge in uptake triggered by COVID-19 led to a major revelation among patients and practitioners, as they liked engaging with virtual care services. As per the data shared by Australia's universal health insurance scheme, "Medicare," has mentioned that Australia has seen 10 million telehealth services delivered during the COVID-19 pandemic. Over 3.2 million Australians in regional, remote, and rural Australia have received medical attention with telemedicine. An Australian Bureau of Statistics (ABS) survey reported that in November (2020), almost one in six (18%) Australians used a telehealth service.
The remote healthcare market is segmented based on service, end user, and country. Based on service, the market is segmented into real time virtual health, remote patient monitoring, and tele-ICUs. Based on end user, the remote healthcare market is segmented into healthcare providers, patients, payers, and employer groups & government organizations.
BIOTRONIK SE & Co KG, Koninklijke Philips NV, Hicuity Health Inc, Medtronic Plc, American Well Corp, Teladoc Health Inc, BioTelemetry Inc, Abbott Laboratories, GE HealthCare, and Siemens Healthcare GmbH are the leading companies operating in the Australia and New Zealand remote healthcare market.
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