Global Remote Patient Monitoring (RPM) Market 2024

Global Remote Patient Monitoring (RPM) Market 2024

Remote patient monitoring, also referred to as remote physiologic monitoring or RPM, is a method of healthcare delivery that uses the latest advances in information technology to gather patient data outside of traditional healthcare settings. RPM can help keep people healthy, allow older and disabled individuals to live at home longer and avoid having to move into skilled nursing facilities. RPM can also serve to reduce the number of hospitalizations, readmissions, and lengths of stay in hospital-all of which help improve quality of life and contain costs.

The global remote patient monitoring market is projected to rise by USD 79.0 billion by 2030, according to the latest market study results. It is anticipated to expand at a CAGR of 12.4 percent during the forecast period. One primary factor is the increasing prevalence of chronic diseases and an aging global population. As conditions such as diabetes, heart disease, and hypertension become more common, there is a growing need for continuous monitoring solutions that allow for early detection and management of health issues. Remote patient monitoring provides a convenient and effective way to track patient health metrics in real-time, reducing hospital readmissions and improving overall patient outcomes.

Technological advancements and the proliferation of connected devices are also pivotal. Innovations in wearable technology, coupled with advancements in wireless communication and data analytics, have made remote patient monitoring more accessible and reliable. These technologies enable the seamless collection, transmission, and analysis of health data, facilitating timely interventions and personalized care plans. The integration of artificial intelligence and machine learning further enhances the capabilities of remote monitoring systems, allowing for predictive analytics and more proactive healthcare management.

Additionally, the growing emphasis on value-based care is significantly influencing the adoption of remote patient monitoring solutions. Healthcare providers and insurers are increasingly focused on improving patient outcomes while controlling costs. Remote monitoring offers a cost-effective solution that reduces the need for frequent in-person visits and hospitalizations. By enabling continuous and remote tracking of patients' health, these systems help in early detection of potential issues, leading to timely interventions and better health management, ultimately supporting the shift towards more efficient and outcome-driven healthcare models.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the application, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global remote patient monitoring market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for remote patient monitoring can be segmented by application: transitional care, chronic care management, critical care.

Remote patient monitoring market is further segmented by end user: hospitals and clinics, homecare settings, others.

Based on region, the remote patient monitoring market is segmented into: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America.

The report has also analyzed the competitive landscape of the global remote patient monitoring market with some of the key players being Abbott Laboratories, Advanced Monitored Caregiving Inc., Baxter International Inc., BioIntelliSense, Inc, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, CareSimple Inc., Cerner Corporation, ChroniSense Medical, Ltd. (Polso), Cloud DX Inc., Corsano Health B.V., Current Health Limited (Best Buy Health Inc.), DexCom, Inc., Docobo Ltd, GE Healthcare, HealthSnap, Inc., Honeywell International Inc., iHealth Labs, Inc., Koninklijke Philips N.V., Masimo Corporation, Medtronic plc, Neteera Technologies Ltd., Nihon Kohden Corporation, OMRON Corporation, Resideo Technologies, Inc., Sensible Medical Innovations, Inc., Shenzhen SiBionics Co., Ltd., Siemens Healthineers AG, smartQare B.V., Teladoc Health, Inc. (Livongo), Validic, Inc., VivaLNK, Inc., Vivify Health (part of Optum), Welch Allyn, Inc., Withings Health Solutions, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global Remote Patient Monitoring Industry Analysis:

i.) Application

• Transitional care
• Chronic care management
• Critical care

ii.) End user

• Hospitals and clinics
• Homecare settings
• Others

iii.) Region

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