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PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1146530

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PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1146530

Global Remote Patient Monitoring Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 By Component Type, Product, Application, End-User and Region

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Market Overview

Remote Patient Monitoring often abbreviated as RPM is a simple and effective method for tracking physiological symptoms and includes a wide range of medical solutions that are convenient for patients and give doctors access to real-time information to determine the cause of sickness. By adopting Artificial Intelligence (AI) and remote patient monitoring technology, healthcare professionals can also have access to a patient's expected diagnosis and medical history.

According to Ken Research Analysis, the Global Remote Patient Monitoring Market was valued at ~US$ 20 billion in 2017. Furthermore, it is estimated to be ~ US$ 35 Billion in 2022 and is forecasted to reach a market size of ~ US$ 75 Billion by 2028 at a CAGR of ~12%, owing to the rising usage of digital technologies in the healthcare sector.

Remote patient monitoring services are predicted to become more prominent as the occurrence of chronic diseases such as diabetes, cancer, heart disease, and hypertension rises, among other conditions. By providing early warning signs and progress indicators, remote monitoring systems support medics in initiating treatment as soon as feasible for chronic diseases.

Patients and doctors frequently struggle with inexperience with new procedures and are reluctant to abandon their current (traditional) procedures. The inexperience with technology that elderly persons may have hinders them from using telehealth and telemedicine services.

The COVID-19 pandemic put a massive strain on overburdened and understaffed hospitals and healthcare systems around the world. The use of remote patient monitoring technologies during the pandemic allowed patients to stay safe in their own homes while easing the burden on hospitals, emergency rooms, and front-line medical staff. It had a positive effect on the market.

Scope of the Report

The Global Remote Patient Monitoring Market is segmented by Component Type, Product, Condition, Application, and End-user. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion.

By Component Type

Devices

Software & Services

By Product

Vital Sign Monitors

Special Monitors

By Application

Cancer

Cardiovascular Diseases (CVD)

Diabetes

Sleep Disorder

Weight Management & Fitness Monitoring

Bronchitis

Infections

Virus

Dehydration

Hypertension

Others

By End-user

Hospitals and Clinics

Home Care Settings & Long Term Care Centers

Ambulatory Care Centers

Passive Exoskeletons

Payers

Patients

Others

By Geography

North America

USA

Canada

Mexico

Europe

Germany

UK

France

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

Indonesia

AustraliaRest of Asia Pacific

LAMEA

Latin America

Middle East

Africa

Key Players

Aerotel Medical Systems (1998) Ltd

Koninklijke Philips N.V.

Boston Scientific Corporation

General Electric Company

Nihon Kohden Corporation

Medtronic Plc

Masimo

Abbott

Johnson & Johnson Services, Inc

OMRON Healthcare, Inc.

Key Trends by Market Segment

By Component Type- The device segment dominated the market in 2021, the high growth rate is attributed to the rise in chronic diseases like diabetes, Chronic Obstructive Pulmonary Disease (COPD), blood pressure, and mental health along with the rising need for home monitoring devices.

The versatility of the devices, specifically the monitor's section, to track clinical data prior to and following surgery, diagnose symptoms, and prevent complications, contributes to their dominance of the market.

Advanced features additionally enable early diagnosis and broader applicability of the devices, such as wireless communication and iPad compatibility.

By Product Type- The vital sign monitors witnessed the highest market share in 2021, due to the extensive adoption of these monitors in recent years.

With the help of a vital sign monitor, a patient's Electrocardiogram (ECG), non-invasive blood pressure, body temperature, respiration rate, and brain activity can be properly monitored. This product's popularity is anticipated to expand throughout the forecast period as a result of the integration of many vital sign monitors into a single system, which will result in higher adoption.

Since devices are frequently used, vital sign monitors are predicted to expand at the fastest rate during the projected period. Due to the rising prevalence of cardiac disorders worldwide, the heart rate monitor product sub-segment has been designated as the market leader. The rising use of these monitors is a result of the rise in the number of people with heart conditions.

By Application Type- Cardiovascular diseases are likely to witness the highest growth during the forecast period, owing to the rising incidence of chronic diseases and growing patient visits.

Cardiovascular disease has emerged as the main application category as a result of the disease's increased occurrence. During the projected period, it is anticipated that the aging population and the prevalence of chronic diseases will have a substantial impact on growth globally.

According to the World Health Organization, in 2019 estimates that there were 17.9 million deaths worldwide which were directly related to cardiovascular illnesses. This is only explained by the increased frequency of CVD in the general population and the rising number of CVD-related deaths worldwide.

By End-user- Hospitals and Clinics segment accounted for the highest market share in 2021,owing to advancements in RPM monitoring technology, and an increase in the number of RPM services offered by hospitals and clinics.

This is primarily due to medical facilities that can utilize remote monitoring to cut back on the use of expensive services like the Emergency Department (ED) and to lower expenditures associated with healthcare

The solutions may also contribute to broadening the range of hospital services, which will increase demand for them in the upcoming years.

By Geography- North America dominated the market during the forecast period owing to the demand for remote patient monitoring devices from hospitals and clinics, the rising prevalence of cardiovascular disease and home healthcare in the USA, and an increase in the country's elderly population.

With a renewed perspective on remote patient monitoring, the COVID-19 epidemic has transformed the landscape of healthcare delivery in the North American region.

The main drivers of the RPM market's growth in North America are the rising geriatric population, rising prevalence of various chronic diseases among the populace, increased consumer disposable income, increased adoption rates of cutting-edge technologies in the healthcare sector, presence of developed healthcare infrastructure, and increased awareness of RPM systems.

Competitive Landscape

The global remote patient monitoring market is highly competitive with ~300 players, which include globally diversified players, regional players as well as a large number of country-niche players that have their niche in digital technologies in the healthcare industry for multiple end-users.

Country-niche players hold the largest market share, while regional players hold the second largest share. Some of the major players in the market include Aerotel Medical Systems (1998) Ltd, Koninklijke Philips N.V., Boston Scientific Corporation, General Electric Company, Nihon Kohden Corporation, Medtronic Plc, Masimo, Abbott, Johnson & Johnson Services, Inc, OMRON Healthcare, Inc., and others.

The leading global specialist companies such as Aerotel Medical Systems (1998) Ltd, Boston Scientific Corporation, Nihon Kohden Corporation, Medtronic Plc, Masimo, and Abbott are highly focused on providing significant digital technologies in the healthcare industry for various applications that can be used across multiple industries.

Recent Developments Related to Major Players

In 2020, Koninklijke Philips and the American Telemedicine Association (ATA) announced a partnership (US). The usage of telehealth in acute, post-acute, and home care settings has expanded as a result of this collaboration.

In August 2022, Medtronic Plc announced a strategic partnership with BioIntelliSense. Through the partnership, the Medtronic Patient Monitoring division will be able to give general care patients with access to a medical-grade device that continuously monitors vital signs both during their stay in the hospital and after discharge.

Conclusion

The market for remote patient monitoring is anticipated to continue growing at a substantial rate of ~12% owing to the advantages of RPM to lessen the strain on medical resources, monitoring advantages of telehealth and remote patient monitoring services, technological advancements in telecommunications, rising geriatric population, and the growing need to increase healthcare access are the main factors influencing the market growth. The demand for the latest advancements in the healthcare sector is escalating as a result of growing government initiatives and investments to create a strong and advanced healthcare infrastructure. The adoption of RPM systems across various market is also being driven by rising investments in the digitalization and automation of healthcare units in order to improve the operational efficiency of the healthcare units.

Though the market is highly competitive with ~300 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and the report delivered within a maximum of 2 working weeks.

Key Topics Covered in the Report

Snapshot of Remote Patient Monitoring Market

Industry Value Chain and Ecosystem Analysis

Market size and Segmentation of Remote Patient Monitoring Market

Historic Growth of the Overall Remote Patient Monitoring Market and Segments

Competition Scenario of the Market and Key Developments of Competitors

Porter's 5 Forces Analysis of the Remote Patient Monitoring Market Industry

Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors

COVID-19 Impact on the Overall Remote Patient Monitoring Market

Future Market Forecast and Growth Rates of the Total Remote Patient Monitoring Market and by Segments

Market Size of Application / End User Segments with Historical CAGR and Future Forecasts

Analysis of the Remote Patient Monitoring Market in Global Regions

Major Production/Supply and Consumption/Demand Hubs in the Region

Region-wise Historic and Future Market Growth Rates of the Total Market and Segments

Overview of Notable Emerging Competitor Companies within the Region

Notable Emerging Companies Mentioned in the Report-

BioIntelliSense

Biofourmis

Glooko

Cardiogram

Medically Home

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing to This Report

Manufacturers of Remote Patient Monitoring Systems

Remote Patient Monitoring Software Providers

Remote Patient Monitoring Service Providers

Remote Patient Monitoring Market Players

Remote Patient Monitoring End-Users

Potential Investors in Remote Patient Monitoring Companies

Remote Patient Monitoring Industry Associations

Remote Patient Monitoring Third-Party Knowledge Providers

Market Research and Consulting Firms; Organizations, and Forums, Devoted to Remote Patient Monitoring Systems

Frequently Asked Questions

What is the Study Period of this Market Report?

The Remote Patient Monitoring Market is covered from 2017 - 2028 in this report, which includes a forecast for the period 2022-2028.

What is the Future Growth Rate of the Remote Patient Monitoring Market?

The Remote patient monitoring Market is expected to witness a CAGR of ~12% over the next 6 years.

What are the Key Factors Driving the Remote Patient Monitoring Market?

The market for remote patient monitoring (RPM) systems is primarily driven by the rising utilization of digital technologies in the world's healthcare sector.

Which is the Largest Component Segment within the Remote Patient Monitoring Market?

Devices held the largest market share of the Remote Patient Monitoring Market in the Component Segment in 2021.

Who are the Key Players in the Remote Patient Monitoring Market?

Aerotel Medical Systems (1998) Ltd, Koninklijke Philips N.V., Boston Scientific Corporation, General Electric Company, Nihon Kohden Corporation, Medtronic Plc, Masimo, Abbott, Johnson & Johnson Services, Inc, and OMRON Healthcare, Inc. among others are the major companies operating in the Remote Patient Monitoring Market.

Product Code: KRBR53

Table Of Contents

Scope:

1. Executive Summary

  • 1.1. Highlights of Total Remote Patient Monitoring Market Historic Growth & Forecast
  • 1.2. Highlights of Market Trends, Challenges, and Competition
  • 1.3. Highlights of Market Revenue Share by Segments

2. Market Overview and Key Trends Impacting Growth

  • 2.1. Market Definition and Key Terms & Abbreviations
  • 2.2. Remote Patient Monitoring Market Taxonomy
  • 2.3. Industry Value Chain
  • 2.4. Ecosystem of Major Entities in the Remote Patient Monitoring Market
  • 2.5. Government Regulations & Developments
  • 2.6. Key Growth Drivers Impacting the Market
  • 2.7. Issues and Challenges in the Remote Patient Monitoring Market
  • 2.8. Key Trends in the Remote Patient Monitoring Market
  • 2.9. Covid-19 Impact on Remote Patient Monitoring Market
  • 2.10. Total Remote Patient Monitoring Market Historic Growth by Segment Type, 2017-2021

2.10.1. By Product

2.10.2. By Component Type

2.10.3. By Application

2.10.4. By End Users

2.10.5. By Geography

  • 2.11. Total Remote Patient Monitoring Market Historic & Forecast Growth, 2017-2028
  • 2.12. Key Takeaways

3. Total Remote Patient Monitoring Market - Market Segmentation by Product, Historic Growth, Outlook & Forecasts

  • 3.1. Market Definition - Segmentation By Product
  • 3.2. Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product, 2017-2028

3.2.1. Vital Sign Monitors

3.2.2. Special Monitors

  • 3.3. Key Developments in Product Segments Impacting Market Future Growth
  • 3.4. Key Takeaways from Market Segmentation by Product

4. Total Remote Patient Monitoring Market - Market Segmentation By Component Type, Historic Growth, Outlook & Forecasts

  • 4.1. Market Definition - Segmentation By Component Type
  • 4.2. Market Revenue Share, Historic Growth, Outlook, and Forecasts By Component Type, 2017-2028

4.2.1. Devices

4.2.2. Software & Services

  • 4.3. Key Developments in Component Type Segment Impacting Market Future Growth
  • 4.4. Key Takeaways from Market Segmentation By Component Type

5. Total Remote Patient Monitoring Market - Market Segmentation by Application, Historic Growth, Outlook & Forecasts

  • 5.1. Market Definition - Segmentation by Application
  • 5.2. Market Revenue Share, Historic Growth, Outlook, and Forecasts by Application, 2017-2028

5.2.1. Cancer

5.2.2. Cardiovascular Diseases (CVD)

5.2.3. Diabetes

5.2.4. Sleep Disorder

5.2.5. Weight management & Fitness Monitoring

5.2.6. Bronchitis

5.2.7. Infections

5.2.8. Virus

5.2.9. Dehydration

5.2.10. Hypertension

5.2.11. Others

  • 5.3. Key Developments in Application Segment Impacting Market Future Growth
  • 5.4. Key Takeaways from Market Segmentation By Application

6. Total Remote Patient Monitoring Market Segmentation by End-Users Segment/Industry, Growth, Outlook & Forecasts

  • 6.1. Market Definition - Segmentation by End Users
  • 6.2. Benefits of Remote Patient Monitoring Adoption in End Users
  • 6.3. Market Revenue Share, Historic Growth, Outlook, and Forecasts by End-Users, 2017-2028

6.3.1. Provider

6.3.2. Hospitals and Clinics

6.3.3. Home Care Settings & Long-Term Care Centre's

6.3.4. Ambulatory Care Centre's

6.3.5. Passive Exoskeletons

6.3.6. Payers

6.3.7. Patients

6.3.8. Others

  • 6.4. Key Developments in the Remote Patient Monitoring Market End Users Impacting Market Future Growth
  • 6.5. Covid-19 Impact on End-User Segments/ Industries
  • 6.6. Key Takeaways from Market Segmentation by End-User Industry

7. Industry / Competition Analysis - Competitive Landscape

  • 7.1. Types of Players (Competitors) & Share of Competition
  • 7.2. Porter's 5 Forces Analysis of Global Remote Patient Monitoring Competitors
  • 7.3. Key Developments in the Global Remote Patient Monitoring Sector Impacting Market Growth
  • 7.4. Comparison of Leading Competitors within the Global Remote Patient Monitoring Market, 2021
  • 7.5. Comparison of Leading Competitors within the Global Remote Patient Monitoring Market by Coverage of Product Segments, 2021
  • 7.6. Comparison of Leading Competitors within the Global Remote Patient Monitoring Market by Coverage of Component Type Segments, 2021
  • 7.7. Comparison of Leading Competitors within the Global Remote Patient Monitoring Market by Coverage of Application Segments, 2021
  • 7.8. Comparison of Leading Competitors within the Global Remote Patient Monitoring Market by Coverage of End-User Segment, 2021
  • 7.9. Comparison of Leading Competitors within the Global Remote Patient Monitoring Market by Coverage of Major Regions, 2021
  • 7.10. Key Takeaways from Competitive Landscape

8. Key Competitor Profiles (Company Overview, Product Offerings, and Strengths & Weaknesses)

  • 8.1. Aerotel Medical Systems (1998) Ltd
  • 8.2. Koninklijke Philips N.V.
  • 8.3. Boston Scientific Corporation
  • 8.4. General Electric Company
  • 8.5. Nihon Kohden Corporation
  • 8.6. Medtronic Plc
  • 8.7. Masimo
  • 8.8. Abbott
  • 8.9. Johnson & Johnson Services, Inc
  • 8.10. OMRON Healthcare, Inc.

9. Geographic Analysis & Major Countries Market Historic Growth, Outlook, and Forecasts

  • 9.1 Major Countries Comparison of Macroeconomic Factors
  • 9.2 Global- Market Revenue Share, Historic Growth, Outlook, and Forecasts by Geography, 2017-2028
  • 9.3 Major Countries Market Analysis, Historic Growth, Outlook & Forecasts
  • 9.4 North America - Remote Patient Monitoring Market Analysis

9.4.1 Major Production and Consumption Hubs in North America

9.4.2 Notable Emerging Remote Patient Monitoring Companies in North America

9.4.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product, 2017-2028

9.4.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Component Types, 2017-2028

9.4.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Application, 2017-2028

9.4.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.4.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

USA

Canada

Mexico

  • 9.5 Europe - Remote Patient Monitoring Market Analysis

9.5.1 Major Production and Consumption Hubs in Europe

9.5.2 Notable Emerging Remote Patient Monitoring Companies in Europe

9.5.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product, 2017-2028

9.5.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Component Type, 2017-2028

9.5.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Application, 2017-2028

9.5.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.5.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

Germany

UK

France

Italy

Spain

Rest of Europe

  • 9.6 Asia Pacific - Remote Patient Monitoring Market Analysis

9.6.1 Major Production and Consumption Hubs in the Asia Pacific

9.6.2 Notable Emerging Remote Patient Monitoring Companies in the Asia Pacific

9.6.3 Market Revenue Share, Historic Growth, Outlook and Forecasts by Product, 2017-2028

9.6.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Component Types, 2017-2028

9.6.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Application, 2017-2028

9.6.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.6.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028

China

Japan

South Korea

India

Indonesia

Australia

Rest of Asia Pacific

  • 9.7 LAMEA - Remote Patient Monitoring Market Analysis

9.7.1 Major Production and Consumption Hubs in LAMEA

9.7.2 Notable Emerging Remote Patient Monitoring Companies in LAMEA

9.7.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product, 2017-2028

9.7.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Component Types, 2017-2028

9.7.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts By Application, 2017-2028

9.7.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End User, 2017-2028

9.7.7 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Sub-Regions, 2017-2028

Latin America

Middle East

Africa

10. Industry Expert's Opinions/Perspectives

  • 10.1 Notable Statements/Quotes from Industry Experts and C-Level Executives on Current Status and Future Outlook of the Market

11. Analyst Recommendation

  • 11.1 Analyst Recommendations on Identified Major Opportunities and Potential Strategies to Gain from Opportunities

12. Appendix

  • 12.1 Research Methodology - Market Size Estimation, Forecast, and Sanity Check Approach
  • 12.2 Sample Discussion Guide

Disclaimer

Have a question?
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Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

+1-860-674-8796

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