Market Research Report
Global Remote Patient Monitoring (RPM) Market by Product (Software, Services, Connected Devices) End User (Providers, Hospitals, Clinics, Home Care, Patients, Payers) - Global Forecast to 2027
|Global Remote Patient Monitoring (RPM) Market by Product (Software, Services, Connected Devices) End User (Providers, Hospitals, Clinics, Home Care, Patients, Payers) - Global Forecast to 2027|
Published: September 12, 2021
SPER Market Research Pvt. Ltd.
Content info: 213 Pages
Delivery time: 1-2 business days
The global remote patient monitoring market is expected to grow at a CAGR of ~34% from 2020 to reach ~177 billion by 2027. The growth is primarily attributed to growing geriatric population with rising prevalence of chronic diseases, demand for expansion of healthcare access, reduction in healthcare costs & burden on medical resources and increasing investments. However, variations in regulatory framework and healthcare frauds are expected to hinder the growth of the market. High utility of remote patient monitoring in containing the contagious diseases provide with growth opportunities.
The global remote patient monitoring market is segmented into software & services, and devices, based on type. The device segment accounted for the largest share in 2020. The large share of this market segment can be attributed to demand surge for remote monitoring devices for tracking vitals in various countries. This high demand of connected devices is further fuelled by COVID-19 outbreak.
Provider segment accounted for largest share of remote patient monitoring market, by end user in 2020. The large share is mainly attributed to growing adoption of remote patient monitoring in geriatric and chronically ill patients, technological advancements and improving remote monitoring services.
North America is expected to dominate the remote patient monitoring market by region. The large share is primarily attributed to rapidly increasing adoption of connected devices and remote patient monitoring services, prevalence of chronic diseases, growing geriatric population and initiatives to curb healthcare expenditure. APAC is expected to register highest CAGR. Increasing awareness on remote patient monitoring services, growing focus on connected devices by patient, and rapidly expanding patient pool are expected to drive the growth of this regional segment.
are some of the key players operating in this market.