Remote Patient Monitoring Market / RPM Market by Product (Software, Services, Devices, Cardiology, Neurological, BP Monitors, Neonatal, Weight, Temperature, Neuro), End user (Providers, Hospitals, Clinics, Home care, Patients, Payers) & Region - Global Fo

Remote Patient Monitoring Market / RPM Market by Product (Software, Services, Devices, Cardiology, Neurological, BP Monitors, Neonatal, Weight, Temperature, Neuro), End user (Providers, Hospitals, Clinics, Home care, Patients, Payers) & Region - Global Forecast to 2028

The global remote patient monitoring market is projected to reach USD 41.7 billion by 2028 from USD 14.0 billion in 2023, at a CAGR of 20.1% between 2023 and 2028. The increasing elderly population, the growing need to expand healthcare access, the ability of RPM to reduce the burden on medical resources and the rising prevalence of chronic diseases are the main factors driving the growth of the remote patient monitoring (RPM) market. However, informal use of social media could restrain market growth during the forecast period.

“Software and services segment is estimated to account for the largest share of the market during the forecast period”

Based on product, remote patient monitoring is segmented into software & services and devices. The software & services segment is estimated to account for the largest share during the forecast period. The largest share of this segment is mainly due to the convenience, the high utility of remote patient monitoring, and innovations experienced in the IoT (Internet of Things).

“Cardiac monitoring devices segment is estimated to account for the largest share of the market in 2022”

On the basis of type, the devices market is further segmented into neurological monitoring devices, multiparameter monitoring devices , cardiac monitoring devices, respiratory monitoring devices, blood glucose monitoring devices, fetal & neonatal monitoring devices, and other monitoring devices. In 2022, cardiac monitoring devices held the largest share of the remote patient monitoring (RPM) market. The growing prevalence of individuals with hypertension and cardiovascular diseases is estimated to boost the growth of this market.

Diabetes segment accounted for the largest share of the remote patient monitoring market, by application, in 2022

Based on application, the global remote patient monitoring market is broadly segmented into oncology, cardiovascular diseases, diabetes, sleep disorders, weight management and fitness monitoring. The diabetes segment accounted for the largest share of the global market in 2022. This can be attributed to the prevalence and chronic nature of diabetes, continuous monitoring requirements, and technological advancements.

Providers segment accounted for the largest share of the remote patient monitoring market, by end user, in 2022

The global remote patient monitoring (RPM) market is divided into four main end-user segments: providers, payers, patients, and others. The providers segment held the largest share of the global market in 2022. This is because RPM monitoring devices are improving, more chronically ill and elderly patients are using remote monitoring, and providers are offering more RPM services.

“Asia Pacific is projected to register the highest CAGR during the forecast period”.

The market in the Asia Pacific region, is projected to register the highest CAGR during the forecast period. This can be attributed to the emerging APAC countries like India and China are attractive markets for remote patient monitoring (RPM) companies, thanks to their growing elderly population, improving healthcare systems, rapid economic development, and rising living standards.

Breakdown of supply-side primary interviews, by company type, designation, and region:

By Company Type: Tier 1 (35%), Tier 2 (45%), and Tier 3 (20%)

By Designation: C-level (35%), Director-level (25%), and Others (40%)

By Region: North America (25%), Europe (15%), Asia Pacific (45%), Latin America (10%), and Middle East Africa (5%)

The key players operating in this market include Oracle (US), Siemens Healthineers AG (Germany), Omron Healthcare (Japan), Boston Scientific Corporation (US), Clear Arch, Inc (US), TytoCare Ltd. (US), Teledoc Health Inc. (US), Vivify Health, Inc. (US), Koninklijke Philips N.V. (Netherlands), Brook Inc. (US), Blue Spark Technology (US), Welch Allyn (US), Health Beats (Singapore),Medtronic (Ireland), GE Healthcare (US), Abbott Laboratories (US), Alten Calsoft Labs (France), Bio-Beat (Israel), VitalConnect (US), VivaLNK Inc. (US), Bardy Diagnsotics, Inc. (US), Biotronik SE & Co. KG (Germany), Alive Cor, Inc. (US), and iRhythm Technologies (US).

Research Coverage

The report studies the remote patient monitoring market based on product, application, end user, and region

The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth

The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders

The report studies micro-markets with respect to their growth trends, prospects, and contributions to the total remote patient monitoring market

The report forecasts the revenue of market segments with respect to five major regions

Key Benefits of Buying the Report:

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the medical exoskeleton market and provides them information on key market drivers, restraints, challenges, and opportunities.

This report provides insights into the following pointers:

Analysis of key drivers (rise in the geriatric and medically underserved (especially rural) populations; the growing prevalence of chronic conditions; the benefits of telehealth and telemedicine owing to the current shortage of physicians and care personnel due to the pandemic; increasing investments in telehealth and RPM, and rising technological advancements in telecommunications), restraints (inadequate AI workforce and ambiguous regulatory guidelines for medical software), opportunities (role and impact of AI in remote patient monitoring market, high utility of RPM in combating infectious disease and epidemics), challenges (behavioral barriers, healthcare affordability, and the lack of awareness)

Market Penetration: Comprehensive information on product portfolios offered by the top players in the remote patient monitoring market. The report analyzes this market by type, application, and end user.

Service Enhancement/Innovation: Detailed insights on upcoming trends in the remote patient monitoring Market

Market Development: Comprehensive information on the lucrative emerging markets type, application, end user.

Market Diversification: Exhaustive information about new devices and software, growing geographies, recent developments, and investments in the remote patient monitoring Market

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, company evaluation quadrant, and capabilities of leading players in the remote patient monitoring Market.