The global remote patient monitoring market is likely to touch USD 175.2 Billion by 2027 from USD 53.6 Billion in 2022, at a CAGR of 26.7% during the forecast period.
Keeping in mind the vulnerabilities of COVID-19, we are constantly following and assessing the direct as well as the indirect impact of the pandemic on various end-use areas. These experiences are included in the report as a significant market contributor.
Global remote patient monitoring (RPM) is a subset of telehealth that uses telemedicine monitoring technology to gather clinical and different information about the patient outside the healthcare setting. This information, by and large, involves weight, blood pressure, glucose, blood oxygen levels, heart rate, and electrocardiograms, which are sent to healthcare providers utilizing telehealth monitoring devices that can be connected with a PC, smartphone, and tablet through different systems and software. The remote monitoring system helps health professionals observe the condition and improve the quality of care given to patients from anywhere across the globe.
One of the main variables driving the RPM market is the Covid infection (COVID-19) pandemic. By virtue of the profoundly irresistible nature of the infection, healthcare providers across the globe are using RPM healthcare to monitor patients with mild symptoms of COVID-19 and provide hospital based-care on a timely basis. This will support freeing up medical virtual clinics software resources for treating existing and more critical patients.
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Also, the rising predominance of cardiovascular illnesses and the developing geriatric population, which is more susceptible to chronic conditions, addresses another key element fuelling the RPM market development. Moreover, improving healthcare infrastructure and rapid advancements in wireless technologies, alongside the rising entrance of smartphones, are moving medical care services from clinic-centric to patient-driven delivery models, like RPM. This is heightening the interest in RPM systems across the globe.
Other than this, several key participants offer RPM healthcare that permits real-time video communication between the patient and the medical care supplier. They are likewise presenting product innovations projected to drive the market in the forthcoming years. For example, Dexcom, Inc., a US-based medical device company, launched a G6 CGM gadget. This little sensor measures glucose levels and sends the information remotely to a display device through a transmitter.
Other than this, VCDoctor is also a world-class telemedicine monitoring technology witnessing traction in demand due to its outstanding capabilities that serve patients with needed treatment and diagnosis through remote patient monitoring devices.
Also, the VCDoctor telemedicine solution that empowers remote patient monitoring in distant regions benefits telehealth software providers, payers, and healthcare organizations with the following-
Benefits of Remote Patient Monitoring
- Improved data-driven clinical decision-making for providers
- Self-management and care plan adherence for patients
- Reduced care costs for payers and providers
- Reduced patient expenses
- Improved access to healthcare
- Enhanced patient engagement
- Improved clinician-patient relationship
- More referral opportunities and improved retention
- Excellent patient experience and 100% satisfaction
- Prevents the spread of infectious diseases and hospital-acquired infections
- Optimized clinical operations and increased productivity.
After having a look at the benefits of remote monitoring healthcare, now get back to the report.
Our study categorizes the remote patient monitoring market into the following sections and subsections:
Remote Patient Monitoring Market, By Component
Services & Software
Remote Patient Monitoring Devices
Cardiac Monitoring Devices
Respiratory Monitoring Devices
Neurological Monitoring Devices
Blood Glucose Monitoring Devices
Multiparameter Monitoring Devices
Fetal & Neonatal Monitoring Devices
Weight Monitoring Devices
Other Monitoring Devices
Remote Patient Monitoring Market, By End-user
Hospitals and Clinics
Ambulatory Care Centers
Home Care Settings
Long Term Care Centers
Other End Users
Other End Users
Remote Patient Monitoring Market, By Application
- Cancer Treatment
- Sleep Disorder Treatment
- Cardiovascular Diseases Treatment and Monitoring
- Diabetes Treatment
- Weight Management and Fitness Monitoring
Remote Patient Monitoring Market By Region
Rest of Europe
Rest of Asia Pacific
Rest of Latin America (LATAM)
Middle East & Africa
- In 2020, Philips, Launched the Avalon CL Fetal and Maternal Pod and Patched for remote monitoring in the US, Europe, Australia, New Zealand, and Singapore to help with fetal and maternal checking.
- In 2020, Koninklijke Philips cooperated with American Telemedicine Association (ATA) (US). This joint effort helped increase telehealth adoption across acute, post-acute, and home care settings.
- In 2020, BioTelemetry obtained the On. Demand remote patient observing (RPM) and training platform, operated by Envolve People Care, Inc., a Centene Corporation auxiliary. This procurement extends chronic RPM and training answers for BioTelemetry’s ongoing set-up of acute care connected health groups and services, aiming especially at diabetes, hypertension, and constant cardiovascular breakdown.
The report also includes the competitive landscape of the market, which incorporates some of the key players like AMD Global Telemedicine Market Inc., Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Dexcom, Inc., GE Healthcare Inc. (Danaher Corporation), Medtronic Inc., Honeywell International Inc., OSI Systems Inc., Koninklijke Philips N.V., Nihon Kohden Corporation, Roche Holding AG, etc.
Frequently Asked Questions (FAQ):
Q-1. What is the estimated value of the Global Remote Patient Monitoring Market in 2027?
The global remote patient monitoring market is estimated to be valued at USD 175.2 billion in 2027.
Q-2. Who are the major players in the remote patient monitoring market?
Some of the key players in the remote patient monitoring market include Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Dexcom, Inc., GE Healthcare Inc. (Danaher Corporation), Medtronic Inc., Honeywell International Inc., OSI Systems Inc., Koninklijke Philips N.V., Nihon Kohden Corporation, Roche Holding AG, etc.
Q-3. What are the major products in the remote patient monitoring market?
Based on the product, the remote patient monitoring market is classified into software & services, and devices.
Q-4. Who are the end-users of the remote patient monitoring market?
The end-users of the remote patient monitoring market include providers, patients, payers, and other end users. In the remote patient monitoring market, providers are the largest end-users among others.
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This is all about remote patient monitoring or patient remote monitoring, according to our report. We categorized our report on remote patient monitoring by component, application, end-user, region, etc., to deeply understand its impact on the global market. From time to time, VCDoctor, a leading telemedicine app development company, releases different reports related to telemedicine and telehealth services that cover market growth, trends and forecasts, and much more. For more reports on the global healthcare market, you can browse our well-researched blogs and get your hands on the insights of your interests.
Other than this, if you are looking to integrate a remote monitoring system into your healthcare facility. You can choose VCDoctor, a best-in-class, HIPAA-compliant telemedicine solution that leverages healthcare service providers with patient monitoring ease through its range of features and functionalities.
- Appointment Booking
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Besides, different healthcare facilities like hospitals, clinics, and dispensaries can adopt different VCDoctor telemedicine solutions as per their business needs to encourage remote patient monitoring work in their practice. Our range of telemedicine solutions include
- Telemedicine Solution for Patients
- Telemedicine Solution for Providers
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- Telemedicine Solution for Startup
Choose your best suit concerning your business objectives and connect with us, visiting our website or requesting a quote or a demo. Our healthcare consultants will connect with you and resolve all your queries related to custom telemedicine app development for patient remote monitoring.