According to IMARC Group’s latest report, titled “Remote Patient Monitoring Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global remote patient monitoring market reached a value of US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2027, exhibiting at a CAGR of 16.1% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Remote patient monitoring (RPM) is an ambulatory healthcare system that uses digital technology to acquire medical and other health data about patients outside healthcare establishments. This information is then sent to healthcare professionals with the help of telehealth software applications installed on computers, smartphones or other hand-held devices to monitor the condition and improve the quality of care given to patients.
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Market Trends:
The market is primarily driven by the sudden outburst of the highly contagious coronavirus disease (COVID-19). Healthcare providers worldwide are using RPM systems to track patients with moderate COVID-19 symptoms and offer prompt hospital-based care. This helps to free up hospital resources for treating more critical patients. Besides this, the rising incidences of cardiovascular diseases, along with the increasing geriatric population, which is more susceptible to chronic conditions, is also boosting the demand for RPM. Furthermore, the introduction of innovative devices, improving healthcare infrastructure and rapid technological advancements are expected to create a significant impact on the market growth in the coming years.
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List of Key Companies Covered in this Market Report:
- Abbott Laboratories (NYSE: ABT)
- AMD Global Telemedicine Inc.
- BIOTRONIK SE & Co. KG
- Boston Scientific Corporation (NYSE: BSX)
- Dexcom, Inc. (NASDAQ: DXCM)
- GE Healthcare Inc. (Danaher Corporation) (NYSE: GE)
- Honeywell International Inc. (NYSE: HON)
- Koninklijke Philips N.V. (AMS: PHIA)
- Medtronic Inc. (NYSE: MDT)
- Nihon Kohden Corporation (TYO: 6849)
- OSI Systems Inc. (NASDAQ: OSIS)
- Roche Holding AG (SWX: RO)
The report has segmented the market on the basis of device type, application, end-use and geography.
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 Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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