Remote Patient Monitoring Market - Global Outlook & Forecast 2022-2027

Remote Patient Monitoring Market - Global Outlook & Forecast 2022-2027

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Remote Patient Monitoring Market Report

The global remote patient monitoring market to grow at a CAGR of 12.5% during 2021-2027.

Remote patient monitoring is achieved by using digital technologies to monitor and capture medical health-related data from patients and electronically transmit the information to healthcare providers for assessment, and, when necessary, recommendations and instructions are provided. RPM reduces the number of readmissions in the medical requirement, hospitalizations, and duration of stay in the hospital, which leads to improved quality of life and contain costs.

In August 2020, Stasis Labs introduced a mobile-connected remote patient monitoring technology in hospitals and outpatient settings in the US. The company's Stasis system monitors important vital parameters in its functioning.

In July 2020, Philips and BioIntelliSense teamed together to improve remote patient monitoring systems for at-risk patients from the hospital to their homes. Philips has added the BioIntelliSense sensor to the device for remotely usage.

REMOTE PATIENT MONITORING MARKET SEGMENT

The Devices and Software segment accounted for the largest share in the global remote patient monitoring market. With the emergence of connected cardiac implants, cardiology was one of the first specialties to incorporate RPM. Cardiology practices are now particularly well-positioned to gain the short and long-term benefits associated with the progression of RPM services, technology, and regulation. The cardiac monitoring market is further propelled by innovative product characteristics, as well as the increased need and demand for virtual care solutions in the COVID-19 era. The cardiac monitor segment accounted for the maximum share in the remote patient monitoring market. For instance, according to CDC, 30.3 million US adults were identified with heart disorders in 2018. Thus, the high prevalence of cardiac disorder is expected to drive the segment.

Component:

• Devices and Software
• Cardiac Monitoring Devices

 Electrocardiographs (ECGs)

 Cardiac monitors

 Blood Pressure Monitor

 Others

• Respiratory Monitoring Devices

 Apnea monitor

 Pulse Oximeters

 Others

• Blood Glucose Monitors

 Continuous Blood Glucose Monitors (CGM)

• Fetal & neonatal monitoring devices
• Other RPM
• Service

Application

• Cardiology
• Endocrinology
• Pulmonology
• Others

End-User

• Hospitals & Specialty Clinics
• Home Care Settings
• Ambulatory Surgical Centers
• Long-term & Acute Care Centers
• Other

GEOGRAPHIC OVERVIEW

North America accounted for a significant 40% of the global market for remote patient monitoring market share in 2021. The presence of substantial competitors and their growth strategies are the main factors driving the North American market. The industry is driven by rising healthcare spending and increased awareness about the benefits of sickness prevention. An increase in heart ailments, sedentary lifestyles, and the deployment of e-health in some rural areas of North America is expected to drive the market growth.

Geography

• North America
• US
• Canada
• Europe
• UK
• Germany
• Italy
• France
• Spain
• APAC
• China
• Japan
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• Turkey
• Saudi Arabia
• South Africa

COMPETITIVE LANDSCAPE

With many top companies in the global market and several small players in regional markets, the global remote patient monitoring market is somewhat fragmented. The major competitors in the market are focusing their efforts on reducing the size of the remote patient monitoring market. These companies are also attempting to increase their market share by launching new goods and forming collaborations with other market participants. As a result, these factors are expected to propel the remote patient monitoring market growth.

Top Players

• Medtronic
• Philips Healthcare
• ResMed

Other Prominent Players

• Resideo
• Honeywell
• LST (LifeScience Technologies)
• Coforge
• Withings
• MedM
• iHealthUnifiedcare
• Qardio
• 100-Plus
• A&D
• Abbott
• AltumView Systems
• Biotronik
• Boston Scientific
• Bardy Diagnostics
• Cardiomo
• Cardiologs
• Dragerwerk AG
• Hoffmann-La Roche
• GE Healthcare
• GrandCare
• Masimo Corporation
• Medopad
• Nihon Kohden
• Omron Healthcare
• OSPLabs
• Smiths Medical
• Spacelabs
• Senseonics
• TeleMedCare
• VitalConnect
• Vitls
• Modicare
• Hillrom
• Vivify Health
• ACL Digital
• Dexcom
• iRhythm Technologies
• Vivalink
• Biobeat
• CareValidate
• Biofourmis
• CAREMINDr
• Datos Health

THE REPORT INCLUDES:

1. The analysis of the global Remote Patient Monitoring market provides market size and growth rate for the forecast period 2022-2027.

2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global Remote Patient Monitoring market.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of the Remote Patient Monitoring market.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.