Market Research Report
Remote Patient Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Remote Patient Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: August 2, 2021
IMARC Services Private Limited
Content info: 144 Pages
Delivery time: 2-3 business days
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.
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 exhibit strong growth during the next five years.