Remote Patient Monitoring Market Size, Growth & Share | Industry Report, Trends and Forecast

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Remote Patient Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global remote patient monitoring market grew at a CAGR of around 18% during 2014-2019. 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.

Global Remote Patient Monitoring Market Report

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 continue its strong growth during the next five years.

Key Market Segmentation:

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 2020-2025. Our report has categorized the market based on region, device type, application and end-use.

Breakup by Device Type:

Blood Pressure Monitor
Glucose Monitor
Heart Rate Monitor
Pulse Oximeters
Respiratory Monitor
Others

Breakup by Application:

Cancer Treatment
Cardiovascular Diseases Treatment and Monitoring
Diabetes Treatment
Sleep Disorder Treatment
Weight Management and Fitness Monitoring
Others

Breakup by End-Use:

Hospitals and Clinics
Homecare Settings
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

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.

Key Questions Answered in This Report:

How has the global remote patient monitoring market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global remote patient monitoring market?
What is the breakup of the market based on the device type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global remote patient monitoring market and who are the key players?
What is the degree of competition in the industry?