Remote Healthcare Market Outlook (2023 to 2033)

Newly-released Remote Healthcare Market analysis report by Future Market Insights shows that the global market size of Remote Healthcare in 2023 was held at US$ 7.8 Billion. With a CAGR of 20.7% from 2023 to 2033, the market is projected to reach a valuation of US$ 59 Billion by 2033. Tele-ICU is expected to be the highest revenue-generating service, projected to grow at a CAGR of over 16.4% from 2023 to 2033.

Attribute Details
Global Remote Healthcare Market (2023) US$ 9 Billion
Global Remote Healthcare Market (2033) US$ 59 Billion
Global Remote Healthcare Market CAGR (2023 to 2033) 20.7%
USA Remote Healthcare Market CAGR (2023 to 2033) 22.3%
Key Companies Profiled
  • Advanced ICU Care
  • BioTelemetry
  • Koninklijke Philips
  • Teladoc Health
  • Vivify Health
  • AirStrip Technologies
  • Medtronic
  • InTouch Technologies
  • American Well
  • Resideo Life Care Solutions

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Revenue of Remote Healthcare Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the Remote Healthcare Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of the Remote Healthcare Market increased at around 15.2% CAGR.

The onset of COVID-19 encouraged the usage of remote healthcare technology among both patients and service providers. During the epidemic, many people used real-time virtual health systems to avoid visiting hospitals.

Due to the pandemic, telehealth platforms that provide real-time virtual health care, such as American Well, witnessed a 1000% spike in visitors. Furthermore, between March 2019 and March 2020, the number of telehealth claim lines in the USA surged by 4000%. The market is expected to develop due to the usage of real-time virtual health services such as audio, video, and chat box.

Many healthcare facilities across the world are implementing tele-ICUs to relieve pressure on clinicians. In Maharashtra, India, for example, a new tele-ICU service was launched in August 2020. Furthermore, Sheba Medical Center and Ichilov Hospital in Israel started AI-based tele-ICUs for COVID-19 patients in March 2020.

The global shortage of ICU beds is encouraging the use of tele-ICUs, boosting the market's development potential. A lack of hospital beds has resulted from COVID-19. Furthermore, patients with chronic illnesses are advised to minimize hospital visits in order to avoid infection. This, in turn, is encouraging healthcare practitioners and patients to use remote patient monitoring services.

With the presence of various medical device manufacturers, software/application providers, and telehealth service providers, the global remote healthcare market share is very dynamic and fragmented. To improve the quality of care for patients, medical device makers are cooperating with software/application developers and service providers. Patients and physicians are asking for remote patient monitoring systems with novel and sophisticated features, and technical improvements are having a significant influence on the industry.

What Factors are Propelling Remote Healthcare Demand?

Globally, the market is expected to be driven by the increasing usage of smartphones, mHealth apps, wearable technologies, and digital healthcare. Furthermore, the remote healthcare business is witnessing an increase in investment, which is fuelling key segments’ growth.

The expansion of the real-time virtual health market is influenced by the rising prevalence of heart illnesses and strokes. Remote monitoring is also projected to become more popular as technology progresses and smart devices become widely used throughout the world.

Over the last few years, treatment techniques have evolved dramatically, with patients favoring self-care and homecare treatment alternatives since they are easy and save time and money. Employers and government agencies are increasingly using telehealth platforms to deliver healthcare to their workers. Because of their cost-effectiveness, these services are being used by a number of businesses. Telehealth systems are also commonly used by government entities to tackle healthcare's current issues.

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Sabyasachi Ghosh

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Region-wise Analysis

Which Region is projected to Offer the Largest Opportunity for Remote Healthcare Market?

In 2022, North America held the largest share of the global Remote Healthcare Market. The market is growing due to the existence of a significant number of remote healthcare technology providers as well as enhanced healthcare infrastructure.

However, Asia Pacific is expected to be the most profitable market over the projected period, with the highest growth rate. Public and commercial sector initiatives like awareness campaigns, collaborations, and research and development financing are expected to grow the industry in the region.

Country-wise Analysis

USA Remote Healthcare Market Analysis

The USA is expected to account for the highest market of US$ 20.9 Billion by 2033, accounting for around one-third of the global forecasted market size. The country’s robust health infrastructure as well as a largely privatized healthcare system are also contributors to these growing numbers.

UK Remote Healthcare Market Analysis

The market in the UK is projected to reach a valuation of US$ 3 Billion by 2033, growing at a CAGR of 23.4% from 2023 to 2033. The market is projected to gross an absolute dollar opportunity of US$ 896 Million during the forecast period.

Japan Remote Healthcare Market Analysis

In Japan, the market is projected to register a CAGR of 17.6% from 2023 to 2033, reaching a market valuation of US$ 2.1 Billion by 2033. During the forecast period, the market in the country is expected to gross an absolute dollar opportunity of US$ 1.7 Billion.

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Category-wise Insights

Why Tele-ICU is projected to Witness Significant Growth among Remote Healthcare Services?

The tele-ICU segment is forecasted to account for a significant market and is projected to grow at a CAGR of over 16% from 2023 to 2033. In 2022, the tele-ICU sector led the market, accounting for about half of the total revenue. The segment is being driven by key stakeholders' initiatives, collaborations, and partnerships. Philips Healthcare, for example, in cooperation with Showa University, launched an eICU program in Japan in May 2020. The goal of this initiative was to enhance the outcomes of high-risk patients while also advancing critical care globalization.

Similar several projects have been launched through the corporation in the United Kingdom, Australia, the Middle East, and the Americas. Hicuity Health and Covenant Health partnered in February 2022 to expand tele-ICU care in the East Tennessee region of the USA. The growing awareness of the advantages of tele-ICU is propelling the market forward. According to an article by Phillips, Tele-ICUs lead to a 20% decrease in death rates, a 30% reduction in hospital stay, and a 37% reduction in patient transfers.

Which End-user of Remote Healthcare is expected to Score Significant Growth in the Forthcoming Years?

Among the end-users, Providers commanded the largest revenue as well as a CAGR of nearly 37% in 2022. This is due to hospitals' rapid use of remote healthcare technology to alleviate the rising strain on healthcare systems. The need for remote patient monitoring and real-time virtual health services is being driven by a dearth of physicians, nurses, and hospital beds, particularly in developing nations. Furthermore, several hospitals are putting up tele-ICU units to relieve stress on hospital employees.

Due to the increasing use of real-time virtual healthcare and patient monitoring services by patients during the COVID-19 pandemic, the patient market is projected to expand at a fast pace in the projection period. The number of users on various real-time virtual health platform providers has increased significantly.

Remote healthcare services are expected to fuel the segment's development potential due to benefits such as time savings, convenience, faster services, cost savings, and greater access to healthcare specialists.

Competitive Analysis

To grow their product range and regional presence, key competitors in the market are pursuing different tactics such as partnerships, collaborations, mergers & acquisitions, and product development. The key companies operating in the remote healthcare market include Advanced ICU Care, BioTelemetry, Koninklijke Philips, Teladoc Health, Vivify Health, AirStrip Technologies, Medtronic, InTouch Technologies, American Well, and Resideo Life Care Solutions.

Some of the recent developments of key Remote Healthcare providers are as follows:

  • In May 2021, MediTelecare, a telehealth technology provider launched MediTely, a direct-to-consumer (D2C) mobile telehealth technology for the geriatric population.
  • In March 2021, Dozee, a healthcare firm, introduced Dozee Pro, a remote patient monitoring platform for hospitals. The Dozee Pro uses an artificial intelligence-powered triaging system to keep track of patients outside of the ICU.
  • In February 2021, Phillips acquired BioTelemetry, Inc., a provider of remote cardiac monitoring devices and services to expand its patient care management segment product portfolio.

Similarly, recent developments related to companies in the Remote Healthcare Market have been tracked by the team at Future Market Insights, which are available in the full report.

Market Segments Covered in Remote Healthcare Market Analysis

By Service:

  • Real-Time Virtual Health
    • Video Communication
    • Audio Communication
    • Email/Chat box
  • Remote Patient Monitoring
  • Tele-ICU

By End-user:

  • Payer
  • Provider
  • Patient
  • Employer Groups & Government Organizations

By Region:

  • North America
  • Latin America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)

Frequently Asked Questions

How Big is the Remote Healthcare Market?

The market is valued at US$ 7.8 billion in 2023.

Who are the Prominent Remote Healthcare Market Players?

Vivify Health, AirStrip Technologies, Medtronic are the prominent market players.

What is the Growth Forecast for the Remote Healthcare Market?

The market is forecast to register a CAGR of 20.7% through 2033.

What is the Estimated Market Size by 2033?

The market is predicted to be worth US$ 59 billion by 2033.

How is the Historical Performance of the Market?

From 2018 to 2022, the market registered a CAGR of 15.2%.

Table of Content
1. Executive Summary Remote Healthcare Market
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
    4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) Analysis By Service, 2018 to 2022
    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Service, 2023 to 2033
        5.3.1. Real-Time Virtual Health
            5.3.1.1. Video Communication
            5.3.1.2. Audio Communication
            5.3.1.3. Email/Chat box
        5.3.2. Remote Patient Monitoring
        5.3.3. Tele-ICU
    5.4. Y-o-Y Growth Trend Analysis By Service, 2018 to 2022
    5.5. Absolute $ Opportunity Analysis By Service, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) Analysis By End User, 2018 to 2022
    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User, 2023 to 2033
        6.3.1. Payer
        6.3.2. Provider
        6.3.3. Patient
        6.3.4. Employer Groups & Government Organizations
    6.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022
    6.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    7.1. Introduction
    7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
    7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
        7.3.1. North America
        7.3.2. Latin America
        7.3.3. Europe
        7.3.4. East Asia
        7.3.5. South Asia
        7.3.6. Oceania
        7.3.7. Middle East and Africa (MEA)
    7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        8.2.1. By Country
            8.2.1.1. United States of America
            8.2.1.2. Canada
        8.2.2. By Service
        8.2.3. By End User
    8.3. Market Attractiveness Analysis
        8.3.1. By Country
        8.3.2. By Service
        8.3.3. By End User
    8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        9.2.1. By Country
            9.2.1.1. Brazil
            9.2.1.2. Mexico
            9.2.1.3. Argentina
            9.2.1.4. Rest of Latin America
        9.2.2. By Service
        9.2.3. By End User
    9.3. Market Attractiveness Analysis
        9.3.1. By Country
        9.3.2. By Service
        9.3.3. By End User
    9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        10.2.1. By Country
            10.2.1.1. Germany
            10.2.1.2. Italy
            10.2.1.3. France
            10.2.1.4. United Kingdom
            10.2.1.5. Spain
            10.2.1.6. Russia
            10.2.1.7. BENELUX
            10.2.1.8. Rest of Europe
        10.2.2. By Service
        10.2.3. By End User
    10.3. Market Attractiveness Analysis
        10.3.1. By Country
        10.3.2. By Service
        10.3.3. By End User
    10.4. Key Takeaways
11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        11.2.1. By Country
            11.2.1.1. China
            11.2.1.2. Japan
            11.2.1.3. South Korea
        11.2.2. By Service
        11.2.3. By End User
    11.3. Market Attractiveness Analysis
        11.3.1. By Country
        11.3.2. By Service
        11.3.3. By End User
    11.4. Key Takeaways
12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        12.2.1. By Country
            12.2.1.1. India
            12.2.1.2. Thailand
            12.2.1.3. Malaysia
            12.2.1.4. Indonesia
            12.2.1.5. Rest of South Asia
        12.2.2. By Service
        12.2.3. By End User
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Service
        12.3.3. By End User
    12.4. Key Takeaways
13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        13.2.1. By Country
            13.2.1.1. Australia
            13.2.1.2. New Zealand
        13.2.2. By Service
        13.2.3. By End User
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Service
        13.3.3. By End User
    13.4. Key Takeaways
14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        14.2.1. By Country
            14.2.1.1. GCC Countries
            14.2.1.2. Rest of MEA
        14.2.2. By Service
        14.2.3. By End User
    14.3. Market Attractiveness Analysis
        14.3.1. By Country
        14.3.2. By Service
        14.3.3. By End User
    14.4. Key Takeaways
15. Key Countries Market Analysis
    15.1. United States of America
        15.1.1. Pricing Analysis
        15.1.2. Market Share Analysis, 2022
            15.1.2.1. By Service
            15.1.2.2. By End User
    15.2. Canada
        15.2.1. Pricing Analysis
        15.2.2. Market Share Analysis, 2022
            15.2.2.1. By Service
            15.2.2.2. By End User
    15.3. Brazil
        15.3.1. Pricing Analysis
        15.3.2. Market Share Analysis, 2022
            15.3.2.1. By Service
            15.3.2.2. By End User
    15.4. Mexico
        15.4.1. Pricing Analysis
        15.4.2. Market Share Analysis, 2022
            15.4.2.1. By Service
            15.4.2.2. By End User
    15.5. Argentina
        15.5.1. Pricing Analysis
        15.5.2. Market Share Analysis, 2022
            15.5.2.1. By Service
            15.5.2.2. By End User
    15.6. Germany
        15.6.1. Pricing Analysis
        15.6.2. Market Share Analysis, 2022
            15.6.2.1. By Service
            15.6.2.2. By End User
    15.7. Italy
        15.7.1. Pricing Analysis
        15.7.2. Market Share Analysis, 2022
            15.7.2.1. By Service
            15.7.2.2. By End User
    15.8. France
        15.8.1. Pricing Analysis
        15.8.2. Market Share Analysis, 2022
            15.8.2.1. By Service
            15.8.2.2. By End User
    15.9. United Kingdom
        15.9.1. Pricing Analysis
        15.9.2. Market Share Analysis, 2022
            15.9.2.1. By Service
            15.9.2.2. By End User
    15.10. Spain
        15.10.1. Pricing Analysis
        15.10.2. Market Share Analysis, 2022
            15.10.2.1. By Service
            15.10.2.2. By End User
    15.11. Russia
        15.11.1. Pricing Analysis
        15.11.2. Market Share Analysis, 2022
            15.11.2.1. By Service
            15.11.2.2. By End User
    15.12. BENELUX
        15.12.1. Pricing Analysis
        15.12.2. Market Share Analysis, 2022
            15.12.2.1. By Service
            15.12.2.2. By End User
    15.13. China
        15.13.1. Pricing Analysis
        15.13.2. Market Share Analysis, 2022
            15.13.2.1. By Service
            15.13.2.2. By End User
    15.14. Japan
        15.14.1. Pricing Analysis
        15.14.2. Market Share Analysis, 2022
            15.14.2.1. By Service
            15.14.2.2. By End User
    15.15. South Korea
        15.15.1. Pricing Analysis
        15.15.2. Market Share Analysis, 2022
            15.15.2.1. By Service
            15.15.2.2. By End User
    15.16. India
        15.16.1. Pricing Analysis
        15.16.2. Market Share Analysis, 2022
            15.16.2.1. By Service
            15.16.2.2. By End User
    15.17. Thailand
        15.17.1. Pricing Analysis
        15.17.2. Market Share Analysis, 2022
            15.17.2.1. By Service
            15.17.2.2. By End User
    15.18. Malaysia
        15.18.1. Pricing Analysis
        15.18.2. Market Share Analysis, 2022
            15.18.2.1. By Service
            15.18.2.2. By End User
    15.19. Indonesia
        15.19.1. Pricing Analysis
        15.19.2. Market Share Analysis, 2022
            15.19.2.1. By Service
            15.19.2.2. By End User
    15.20. Australia
        15.20.1. Pricing Analysis
        15.20.2. Market Share Analysis, 2022
            15.20.2.1. By Service
            15.20.2.2. By End User
    15.21. New Zealand
        15.21.1. Pricing Analysis
        15.21.2. Market Share Analysis, 2022
            15.21.2.1. By Service
            15.21.2.2. By End User
    15.22. GCC Countries
        15.22.1. Pricing Analysis
        15.22.2. Market Share Analysis, 2022
            15.22.2.1. By Service
            15.22.2.2. By End User
16. Market Structure Analysis
    16.1. Competition Dashboard
    16.2. Competition Benchmarking
    16.3. Market Share Analysis of Top Players
        16.3.1. By Regional
        16.3.2. By Service
        16.3.3. By End User
17. Competition Analysis
    17.1. Competition Deep Dive
        17.1.1. Advanced ICU Care
            17.1.1.1. Overview
            17.1.1.2. Product Portfolio
            17.1.1.3. Profitability by Market Segments
            17.1.1.4. Sales Footprint
            17.1.1.5. Strategy Overview
                17.1.1.5.1. Marketing Strategy
                17.1.1.5.2. Product Strategy
                17.1.1.5.3. Channel Strategy
        17.1.2. BioTelemetry
            17.1.2.1. Overview
            17.1.2.2. Product Portfolio
            17.1.2.3. Profitability by Market Segments
            17.1.2.4. Sales Footprint
            17.1.2.5. Strategy Overview
                17.1.2.5.1. Marketing Strategy
                17.1.2.5.2. Product Strategy
                17.1.2.5.3. Channel Strategy
        17.1.3. Koninklijke Philips
            17.1.3.1. Overview
            17.1.3.2. Product Portfolio
            17.1.3.3. Profitability by Market Segments
            17.1.3.4. Sales Footprint
            17.1.3.5. Strategy Overview
                17.1.3.5.1. Marketing Strategy
                17.1.3.5.2. Product Strategy
                17.1.3.5.3. Channel Strategy
        17.1.4. Teladoc Health
            17.1.4.1. Overview
            17.1.4.2. Product Portfolio
            17.1.4.3. Profitability by Market Segments
            17.1.4.4. Sales Footprint
            17.1.4.5. Strategy Overview
                17.1.4.5.1. Marketing Strategy
                17.1.4.5.2. Product Strategy
                17.1.4.5.3. Channel Strategy
        17.1.5. Vivify Health
            17.1.5.1. Overview
            17.1.5.2. Product Portfolio
            17.1.5.3. Profitability by Market Segments
            17.1.5.4. Sales Footprint
            17.1.5.5. Strategy Overview
                17.1.5.5.1. Marketing Strategy
                17.1.5.5.2. Product Strategy
                17.1.5.5.3. Channel Strategy
        17.1.6. AirStrip Technologies
            17.1.6.1. Overview
            17.1.6.2. Product Portfolio
            17.1.6.3. Profitability by Market Segments
            17.1.6.4. Sales Footprint
            17.1.6.5. Strategy Overview
                17.1.6.5.1. Marketing Strategy
                17.1.6.5.2. Product Strategy
                17.1.6.5.3. Channel Strategy
        17.1.7. Medtronic
            17.1.7.1. Overview
            17.1.7.2. Product Portfolio
            17.1.7.3. Profitability by Market Segments
            17.1.7.4. Sales Footprint
            17.1.7.5. Strategy Overview
                17.1.7.5.1. Marketing Strategy
                17.1.7.5.2. Product Strategy
                17.1.7.5.3. Channel Strategy
        17.1.8. InTouch Technologies
            17.1.8.1. Overview
            17.1.8.2. Product Portfolio
            17.1.8.3. Profitability by Market Segments
            17.1.8.4. Sales Footprint
            17.1.8.5. Strategy Overview
                17.1.8.5.1. Marketing Strategy
                17.1.8.5.2. Product Strategy
                17.1.8.5.3. Channel Strategy
        17.1.9. American Well
            17.1.9.1. Overview
            17.1.9.2. Product Portfolio
            17.1.9.3. Profitability by Market Segments
            17.1.9.4. Sales Footprint
            17.1.9.5. Strategy Overview
                17.1.9.5.1. Marketing Strategy
                17.1.9.5.2. Product Strategy
                17.1.9.5.3. Channel Strategy
        17.1.10. Resideo Life Care Solutions
            17.1.10.1. Overview
            17.1.10.2. Product Portfolio
            17.1.10.3. Profitability by Market Segments
            17.1.10.4. Sales Footprint
            17.1.10.5. Strategy Overview
                17.1.10.5.1. Marketing Strategy
                17.1.10.5.2. Product Strategy
                17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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