NEWARK, Del, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The remote patient monitoring devices market is poised for remarkable growth, with an estimated valuation of USD 1.3 billion in 2024, and projections indicating a rise to USD 6.0 billion by 2034. This impressive growth trajectory is driven by a compounded annual growth rate (CAGR) of 15.7% during the forecast period.
Several key factors are accelerating the demand for RPM devices, revolutionizing the healthcare industry. The integration of blockchain technology is among the most notable developments, enhancing data security and ensuring patient privacy. Blockchain offers immutable and secure patient data storage, which addresses concerns surrounding potential data breaches and unauthorized access.
Remote physiologic monitoring (RPM) refers to a collection of codes used to represent non-face-to-face monitoring and analysis of physiologic parameters in order to determine a patient's state of health. The most popular RPM equipment is used to track vital signs, including pulse oximeters, blood glucose metres, and blood pressure monitors. Spirometers and weight scales are two additional RPM devices that collect important patient data.
Devices for remote patient monitoring enable ED diverting and early acute release, leading to shorter hospital stays and cheaper healthcare costs. The high expenses of inpatient treatments can be decreased by moving the proper levels of acute care and chronic care monitoring into the home due to remote patient monitoring.
Moreover, the growing benefits of remote patient monitoring such as cost saving, faster access, improved patient outcomes, and also less risk of diseases transmission is the factor influencing the demand of it in the global market.
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Another pivotal force shaping the future of RPM is the adoption of 5G technology. With its ultra-fast connectivity and low latency, 5G is set to transform the way patient data is transmitted, enabling real-time monitoring and more efficient remote healthcare services. This leap forward in connectivity will make RPM devices more reliable and accessible to both healthcare providers and patients.
In addition, the market is witnessing the emergence of multi-parameter monitoring devices that allow for the simultaneous tracking of several health metrics. These advanced devices are providing healthcare professionals with a more comprehensive understanding of patient health, improving diagnosis, and treatment outcomes. Furthermore, user-friendly interfaces are becoming increasingly important, making RPM devices more accessible to patients who may not be technologically savvy.
The combination of these technological advancements and the growing need for efficient, at-home healthcare solutions is fueling the expansion of the remote patient monitoring devices market, providing a promising future for healthcare delivery worldwide.
Key Market Drivers
- Rising Incidence of Chronic Diseases: The growing number of patients with chronic conditions such as diabetes, hypertension, and cardiovascular disorders has amplified the demand for RPM devices, allowing real-time monitoring and timely interventions.
- Technological Advancements: Innovations in wearable devices, sensors, and mobile health applications are streamlining remote healthcare delivery, making monitoring more accurate and user-friendly.
- Supportive Government Policies: Initiatives promoting telehealth, especially post-COVID-19, are accelerating the adoption of RPM solutions worldwide.
- Cost-Effectiveness: Remote monitoring reduces the need for frequent hospital visits, leading to significant cost savings for patients and healthcare providers.
Key Takeaways:
- The remote patient monitoring devices market is projected to grow from USD 1.3 billion in 2024 to USD 6.0 billion by 2034, with a robust CAGR of 15.7% during the forecast period.
- Technological advancements, the increasing prevalence of chronic diseases, and an aging global population fuel the market’s growth.
- In the United States, the market is expanding rapidly due to technological innovations, a higher incidence of chronic illnesses, and a growing elderly population.
- Germany is experiencing significant growth in remote patient monitoring devices adoption, driven by chronic disease prevalence, aging demographics, and ongoing medical technological advancements. The COVID-19 pandemic has accelerated this trend by highlighting the importance of remote healthcare solutions in reducing hospital overcrowding and infection risks.
- In India, the growing incidence of chronic diseases like diabetes, hypertension, and cardiovascular conditions, combined with an aging population, is driving the adoption of remote patient monitoring devices for continuous health monitoring and effective healthcare management.
"The remote patient monitoring devices market is entering a transformative phase, driven by a convergence of technological advancements and heightened demand for personalized healthcare solutions. The adoption of blockchain for enhanced data security and 5G for seamless connectivity signifies a significant leap forward. Moreover, the introduction of multi-parameter monitoring devices underscores the industry’s commitment to comprehensive and user-friendly healthcare solutions," opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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What are the Major Drivers Boosting the Demand for Remote Patient Monitoring Devices Market?
Growing geriatric population and increasing disease burden among them has increased the demand for remote patient monitoring devices. Some disorder needs continuous monitoring of the vital signs and symptoms, and effective management of the disease increasing the demand for RPM devices. For instance, a research in the Journal of American Medical Informatics Association (JAMIA) indicated that remote patient monitoring increases patients' engagement in managing chronic conditions.
Moreover, hospitals were running out of room due to the Covid-19 pandemic. In addition, patients were cautioned from physically visiting hospitals due to the risk of catching up with infection, especially those with chronic illnesses. Due to this, the market for remote patient monitoring has grown.
For instance, more than 100 million people in the United States have hypertension, according to (CDC) Centres for Disease Control and Prevention. The risk of heart disease is considerably increased by hypertension. The (AHA) American Heart Association also supports initiatives to increase the accessibility of Remote Patient Monitoring (RPM) technologies for use in better health management. Even after the Covid-19 pandemic people are eventually shifted towards remote patient monitoring devices as it makes easy for them to evaluate themselves.
Which Region Shows Strong Growth Potential in the Remote Patient Monitoring Devices Market?
The remote patient monitoring devices market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
North America dominated the regional remote patient monitoring devices market due to a higher rate of acceptance of these monitoring devices by hospital settings and patients. Additionally, greater investments in the introduction of advanced technology and new product launch for high-quality patient care are to credit for regional growth.
For instance, in February 2019, AT&T Inc. introduced the One Pulse, a new smart watch that tracked real-time alerts for family and doctors, prescription refills, and medicine reminders. Additionally, it enables access to medical records via cloud-based software, enabling integration to any platform for electronic health records.
Competitive Landscape:
The remote patient monitoring (RPM) devices market is highly competitive, driven by innovations in telemedicine and the growing demand for home healthcare. Leading companies, such as Koninklijke Philips N.V. and GE Healthcare, dominate with their comprehensive RPM solutions. At the same time, emerging players are introducing novel, cost-effective technologies, intensifying competition in the market.
The industry is experiencing steady growth, supported by advancements like AI integration and wearable health technologies. Increased regulatory support, along with a rising prevalence of chronic conditions, further fuels market expansion.
Companies are heavily investing in research and development, as well as forming strategic partnerships, to gain a competitive edge by enhancing patient outcomes and optimizing healthcare delivery.
Recent Developments:
In June 2024, Koninklijke Philips N.V. launched its next-generation AI-powered cardiovascular ultrasound platform. This new platform leverages proven AI technology to accelerate cardiac ultrasound analysis and alleviate the workload of echocardiography laboratories.
Company Profile:
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Smiths Medical
- Nihon Kohden Corporation
- Koninklijke Philips N.V.
- Omron Corporation
- F. Hoffmann-La Roche Ltd
- American Telecare
- Johnson & Johnson
- OSI Systems, Inc.
- Boston Scientific Corporation
- GE Healthcare
Remote Patient Monitoring Devices Market by Category
By Product Type:
In terms of product type, the market encompasses vital sign monitors (heart rate monitors (ecg) blood pressure monitors, respiratory rate monitors, brain monitoring (eeg), temperature monitors, pulse oximeters and others) and special monitors (blood glucose monitors, fetal heart monitors, multi-parameter monitors (mpm), anaesthesia monitors, prothrombin monitors and others.
By Application:
Application segment is categorized into cardiovascular diseases, diabetes, cancer, hypertension, infections, bronchitis, dehydration, sleep disorder, weight management & fitness monitoring and others.
By End User:
The end user of remote patient monitoring devices hospital based patients, homecare, ambulatory patients and others.
By Region:
As per region, the industry is divided into North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe and Middle East & Africa
Old Source: https://express-press-release.net/news/2024/03/22/1568946
French Language:
Le marché des dispositifs de surveillance à distance des patients est sur le point de connaître une croissance remarquable, avec une valorisation estimée à 1,3 milliard USD en 2024 et des projections indiquant une augmentation à 6,0 milliards USD d’ici 2034. Cette trajectoire de croissance impressionnante est tirée par un taux de croissance annuel composé (TCAC) de 15,7 % au cours de la période de prévision.
Plusieurs facteurs clés accélèrent la demande de dispositifs RPM, révolutionnant ainsi le secteur de la santé. L’intégration de la technologie blockchain est l’un des développements les plus notables, améliorant la sécurité des données et garantissant la confidentialité des patients. La blockchain offre un stockage immuable et sécurisé des données des patients, ce qui répond aux préoccupations concernant les violations de données potentielles et les accès non autorisés.
Une autre force essentielle qui façonne l’avenir du RPM est l’adoption de la technologie 5G. Grâce à sa connectivité ultra-rapide et à sa faible latence, la 5G est prête à transformer la façon dont les données des patients sont transmises, permettant une surveillance en temps réel et des services de santé à distance plus efficaces. Ce bond en avant en matière de connectivité rendra les appareils RPM plus fiables et accessibles à la fois aux prestataires de soins de santé et aux patients.
De plus, le marché assiste à l’émergence de dispositifs de surveillance multiparamètres qui permettent le suivi simultané de plusieurs mesures de santé. Ces dispositifs avancés offrent aux professionnels de la santé une compréhension plus complète de la santé des patients, améliorant ainsi le diagnostic et les résultats du traitement. De plus, les interfaces conviviales deviennent de plus en plus importantes, ce qui rend les appareils RPM plus accessibles aux patients qui ne sont peut-être pas à l’aise avec la technologie.
La combinaison de ces avancées technologiques et du besoin croissant de solutions de soins de santé à domicile efficaces alimente l’expansion du marché des dispositifs de surveillance à distance des patients, offrant un avenir prometteur pour la prestation de soins de santé dans le monde entier.
Principaux moteurs du marché
- Incidence croissante des maladies chroniques : Le nombre croissant de patients atteints de maladies chroniques telles que le diabète, l’hypertension et les troubles cardiovasculaires a amplifié la demande d’appareils RPM, permettant une surveillance en temps réel et des interventions opportunes.
- Avancées technologiques : Les innovations en matière d’appareils portables, de capteurs et d’applications de santé mobiles rationalisent la prestation des soins de santé à distance, rendant la surveillance plus précise et plus conviviale.
- Politiques gouvernementales de soutien : Les initiatives de promotion de la télésanté, en particulier après la COVID-19, accélèrent l’adoption des solutions RPM dans le monde entier.
- Rentabilité : La surveillance à distance réduit le besoin de visites fréquentes à l’hôpital, ce qui permet aux patients et aux prestataires de soins de santé de réaliser d’importantes économies.
Principaux points à retenir :
- Le marché des dispositifs de surveillance à distance des patients devrait passer de 1,3 milliard USD en 2024 à 6,0 milliards USD d’ici 2034, avec un TCAC robuste de 15,7 % au cours de la période de prévision.
- Les progrès technologiques, la prévalence croissante des maladies chroniques et le vieillissement de la population mondiale alimentent la croissance du marché.
- Aux États-Unis, le marché se développe rapidement en raison des innovations technologiques, d’une incidence plus élevée de maladies chroniques et d’une population âgée croissante.
- L’Allemagne connaît une croissance significative de l’adoption des dispositifs de surveillance à distance des patients, en raison de la prévalence des maladies chroniques, du vieillissement de la population et des progrès technologiques médicaux en cours. La pandémie de COVID-19 a accéléré cette tendance en soulignant l’importance des solutions de soins de santé à distance pour réduire l’engorgement des hôpitaux et les risques d’infection.
- En Inde, l’incidence croissante des maladies chroniques comme le diabète, l’hypertension et les maladies cardiovasculaires, combinée au vieillissement de la population, entraîne l’adoption de dispositifs de surveillance à distance des patients pour une surveillance continue de la santé et une gestion efficace des soins de santé.
« Le marché des dispositifs de surveillance à distance des patients entre dans une phase de transformation, sous l’impulsion d’une convergence des avancées technologiques et d’une demande accrue de solutions de soins de santé personnalisées. L’adoption de la blockchain pour une sécurité accrue des données et de la 5G pour une connectivité transparente représente un bond en avant significatif. De plus, l’introduction de dispositifs de surveillance multiparamètres souligne l’engagement de l’industrie en faveur de solutions de soins de santé complètes et conviviales », estime Sabyasachi Ghosh, vice-président associé de Future Market Insights (FMI).
Paysage concurrentiel :
Le marché des appareils de surveillance à distance des patients (RPM) est très concurrentiel, stimulé par les innovations en matière de télémédecine et la demande croissante de soins de santé à domicile. Des entreprises de premier plan, telles que Koninklijke Philips N.V. et GE Healthcare, dominent avec leurs solutions RPM complètes. Dans le même temps, les acteurs émergents introduisent des technologies nouvelles et rentables, intensifiant la concurrence sur le marché.
L’industrie connaît une croissance constante, soutenue par des progrès tels que l’intégration de l’IA et les technologies de santé portables. Le soutien réglementaire accru, ainsi que la prévalence croissante des maladies chroniques, alimentent davantage l’expansion du marché.
Les entreprises investissent massivement dans la recherche et le développement, ainsi que dans la formation de partenariats stratégiques, afin d’obtenir un avantage concurrentiel en améliorant les résultats pour les patients et en optimisant la prestation des soins de santé.
Développements récents :
En juin 2024, Koninklijke Philips N.V. a lancé sa plateforme d’échographie cardiovasculaire de nouvelle génération alimentée par l’IA. Cette nouvelle plateforme s’appuie sur une technologie d’IA éprouvée pour accélérer l’analyse des échographies cardiaques et alléger la charge de travail des laboratoires d’échocardiographie.
Marché des dispositifs de surveillance à distance des patients par catégorie
Par type de produit :
En termes de type de produit, le marché comprend les moniteurs de signes vitaux (moniteurs de fréquence cardiaque (ECG), moniteurs de pression artérielle, moniteurs de fréquence respiratoire, surveillance du cerveau (EEG), moniteurs de température, oxymètres de pouls et autres) et des moniteurs spéciaux (glucomètres, moniteurs cardiaques fœtaux, moniteurs multiparamètres (MPM), moniteurs d’anesthésie, moniteurs de prothrombine et autres.
Par application :
Le segment d’application est classé en maladies cardiovasculaires, diabète, cancer, hypertension, infections, bronchite, déshydratation, troubles du sommeil, gestion du poids et surveillance de la condition physique et autres.
Par utilisateur final :
L’utilisateur final de dispositifs de surveillance à distance des patients hospitalisés, des patients à domicile, des patients ambulatoires et autres.
Par région :
Selon la région, l’industrie est divisée en Amérique du Nord, Amérique latine, Europe occidentale, Asie du Sud, Asie de l’Est, Europe de l’Est et Moyen-Orient et Afrique
Authored By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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