Global Remote Patient Monitoring Market Analysis 2022
The Global Remote Patient Monitoring (RPM) Market is expected to reach $233.51 billion by 2028 growing at a CAGR of 34.2% from 2021 to 2028. Remote patient monitoring (RPM) is a technology used to collect medical and health-related data from individuals at one location and electronically transmit it to a healthcare provider at another location. RPM is used to remotely monitor and analyze physiological parameters such as blood oxygen levels, vital signs, blood pressure, heart rate, and blood sugar, which improves the quality of care, quality of life, and allows early prediction of aggravations and exacerbations. This reduces the number of emergency department visits and the duration of hospitalization.
Factors such as Advancements in telecommunications and increasing investments in telehealth & remote patient monitoring are driving the growth of the market. However, an informal usage of social media practices is restraining the growth of the market.
Based on the condition, the diabetes segment is going to have a lucrative growth during the forecast period which can be attributed to the owing to increasing prevalence of diabetes and rising awareness over the availability of different treatment procedures for diabetes, even in rural areas.
The key vendors mentioned are Abbott Laboratories, Bio-Beat Technologies, Biotelemetry, Inc., Boston Scientific Corporation, Cerner Corporation, Dexcom, Inc., GE Healthcare , Irhythm Technologies, Koninklijke Philips, Medtronic, Preventice Solutions, Resideo Life Care Solutions, Siemens Healthineers Ag, Teladoc Health Inc., Vitalconnect, Vivalnk Inc , Vivify Health, Inc.
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