The global remote patient monitoring market reached a value of US$ 964 Million in 2020 The global remote patient monitoring (RPM) is a subset of telehealth that utilizes digital technologies to collect medical and other forms of data about the patient outside the healthcare setting. This data generally comprises weight, blood pressure, blood sugar, blood oxygen levels, heart rate and electrocardiograms, which are transmitted to healthcare providers using a telehealth computer system and software that can be installed on a computer, smartphone and tablet. RPM aids health professionals in monitoring the condition and improving the quality of care given to patients from anywhere around the world.
One of the leading factors driving the RPM market is the coronavirus disease (COVID-19) pandemic. On account of the highly infectious nature of the virus, healthcare providers across the globe are utilizing RPM services for monitoring patients with mild symptoms of COVID-19 and providing hospital-based care on a timely basis. This will aid in freeing up hospital resources for treating existing and more critical patients. Additionally, the rising prevalence of cardiovascular diseases, in confluence with the growing geriatric population, which is more susceptible to chronic conditions, represents another key factor fueling the RPM market growth. In addition to this, improving healthcare infrastructure and rapid advancements in wireless technologies, along with the increasing penetration of smartphones, are shifting healthcare services from clinic-centric to patient-centric delivery models, such as RPM. This is escalating the demand for RPM systems across the globe. Other than this, several key players are offering RPM that allows real-time video interaction between the patient and the healthcare provider. They are also introducing product innovations, which are projected to drive the market in the upcoming years. For instance, Dexcom, Inc., a US-based medical device company, launched a G6 CGM device, which is a small sensor that measures glucose levels and sends the data wirelessly to a display device through a transmitter. Looking forward, IMARC Group expects the global remote patient monitoring market to exhibit strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global remote patient monitoring market, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, device type, application and end-use.
Breakup by Device Type:
Breakup by Application:
Breakup by End-Use:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, AMD Global Telemedicine Inc., BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Dexcom, Inc., GE Healthcare Inc. (Danaher Corporation), Honeywell International Inc., Koninklijke Philips N.V., Medtronic Inc., Nihon Kohden Corporation, OSI Systems Inc., Roche Holding AG, etc.
The global remote patient monitoring market size was valued at US$ 964 Million in 2020.
According to the estimates by IMARC Group, the global remote patient monitoring market is expected to witness a CAGR of 11.80% from 2021 to 2026.
The rising prevalence of cardiovascular diseases, particularly among the geriatric population who are more susceptible to chronic conditions, represents one of the key drivers for the global remote patient monitoring market.
Several technological advancements have led to the emergence of next-generation chronic disease RPM systems based on mobile phone platforms like glucometers, blood pressure monitors and weighing scales. This is further expected to propel the global market for remote patient monitoring in the coming years.
Sudden outbreak of the COVID-19 pandemic had led to the increasing adoption of remote patient monitoring services for minimizing hospital visits and reducing the risk of coronavirus infection.
On the basis of the device type, the market has been classified into heart rate monitor, glucose monitor, blood pressure monitor, pulse oximeter, respiratory monitor, and others. Amongst these, heart rate monitor hold the largest market share.
On the basis of the application, the market has been the market has been categorized into cancer treatment, cardiovascular disease treatment and monitoring, diabetes treatment, sleep disorder treatment, weight management and fitness monitoring, and others. Amongst these, cardiovascular disease treatment and monitoring represent the largest application segment.
On the basis of the end use, the market has been classified into hospitals and clinics, homecare settings, and others. Among these, hospitals and clinics hold the majority of the global market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global remote patient monitoring market are Abbott Laboratories, AMD Global Telemedicine Inc., BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Dexcom, Inc., GE Healthcare Inc. (Danaher Corporation), Honeywell International Inc., Koninklijke Philips N.V., Medtronic Inc., Nihon Kohden Corporation, OSI Systems Inc., Roche Holding AG, etc.
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