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The global remote patient monitoring market size was valued at US$ 1.1 Billion in 2021.
According to the estimates by IMARC Group, the global remote patient monitoring market is expected to exhibit a CAGR of 16.1% during 2022-2027.
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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