Westford, USA, July 19, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Remote Patient Monitoring Market will attain a value of USD 8.5 billion by 2031, with a CAGR of 16.3% over the forecast period (2024-2031). The rising penetration of digital technologies in the healthcare space and the growing popularity of home healthcare are estimated to bolster remote patient monitoring market growth. The increasing geriatric population and high adoption of teleconsultation will also play a crucial role in augmenting the demand for remote patient monitoring in the future. High use of IoT (Internet of Things) devices and wearable devices will also create an opportune setting for remote patient monitoring providers over the coming years.
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Browse in-depth TOC on "Remote Patient Monitoring Market"
- Pages - 157
- Tables - 96
- Figures – 76
Remote Patient Monitoring Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 2.2 Billion |
| Estimated Value by 2031 | $ 8.5 Billion |
| Growth Rate | Poised to grow at a CAGR of 16.3% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End-use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing popularity of home healthcare |
| Key Market Drivers | Increasing use of digital technologies in healthcare and emphasis on improving patient outcomes |
Need for Continuous Monitoring for Effective Diabetes Management Helps Diabetes Application to Lead Market Growth
The prevalence of diabetes has increased rapidly around the world. Diabetic patients need to monitor their blood glucose levels continuously to ensure proper functioning of their bodies. This is why remote monitoring is projected to be highly popular for diabetic applications across the study period.
Growing Emphasis on Health is Projected to Boost Adoption of Remote patient monitoring Among Patients
People around the world are more health conscious than ever before and this is why they are more inclined to opt for remote health monitoring devices and solutions. Increasing disposable income and high availability of multiple remote health and activity monitors are also expected to help the global remote patient monitoring market growth over the coming years.
Presence of Developed Healthcare Infrastructure Helps North America Lead Remote Patient Monitoring Demand
North America is known around the world for its developed healthcare infrastructure that is quick to adopt new technologies. Growing geriatric population and high use of automation in the healthcare space are also helping this region’s dominance. The United States is forecasted to lead the remote patient monitoring demand outlook in the North American region across the study period and beyond.
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Remote Patient Monitoring Market Insights:
Drivers
- Growing popularity of home healthcare
- Advancements in remote monitoring technologies
- Increasing digitization of the healthcare industry
Restraints
- Lack of accessibility and affordability
- Data privacy and security concerns for remote patient monitors
Prominent Players in Remote Patient Monitoring Market
The following are the Top Remote Patient Monitoring Companies
- Medtronic plc
- Philips Healthcare
- Boston Scientific Corporation
- GE Healthcare
- Abbott Laboratories
- Omron Healthcare Inc.
- Honeywell International Inc.
- Smiths Medical
- McKesson Corporation
- Biotronik SE & Co. KG
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Key Questions Answered in Remote Patient Monitoring Market Report
- What drives the global remote patient monitoring market growth?
- Who are the leading remote patient monitoring providers in the world?
- Which region leads the demand for remote patient monitoring in the world?
This report provides the following insights:
- Analysis of key drivers (increasing adoption of digital technologies in the healthcare space, growing demand for home healthcare, expanding geriatric population), restraints (lack of affordability and accessibility of remote monitoring devices, data privacy and security concerns), and opportunities (high adoption of automation in healthcare, rising demand for telehealth practices), influencing the growth of remote patient monitoring market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Remote Patient Monitoring market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest Technology is a leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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Mr. Jagraj Singh
Skyquest Technology
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Massachusetts 01886
USA (+1) 617-230-0741
Email: sales@skyquestt.com
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