Dublin, April 18, 2024 (GLOBE NEWSWIRE) -- The "Remote Patient Monitoring Market by Product ([Blood Glucose, Respiratory, Blood Pressure, Fetal, Weight Monitoring] [Wearable, Portable, Benchtop]) Application (Diabetes, Oncology, Cardiovascular, Neurological Disorders) End User - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The global remote patient monitoring market is projected to reach $116.84 billion by 2031, at a CAGR of 13.7% from 2024 to 2031.
This market is driven by the increasing geriatric population, rising prevalence of chronic diseases, shortage of healthcare professionals, growing awareness regarding the benefits of RPM, such as convenience and improved patient outcomes, rising need to reduce healthcare costs, and favorable government initiatives promoting remote patient monitoring.
Furthermore, technological advancements in telehealth & remote patient monitoring, emerging economies with growing patient populations, increasing adoption of wearable devices, advancements in sensor technologies, and integration of artificial intelligence with RPM provide a significant growth opportunity for this market.
However, data accuracy & reliability concerns, barriers limiting the use of remote patient monitoring technologies such as limited access, and low technology literacy among patients restrain the growth of the market. Additionally, data security & privacy concerns and increased overhead expenses due to the need for additional staff to manage the RPM system are challenging factors in the market.
North America is expected to account for the largest share of the global remote patient monitoring market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest-growing region of the global remote patient monitoring market. This growth is primarily driven by the increasing healthcare expenditure, rising geriatric population, rising prevalence of chronic diseases, growing consumer awareness, increasing personal disposable incomes, and a large target population, thereby supporting the market growth.
Among products, in 2024, the monitoring devices segment is expected to account for the largest share of the remote patient monitoring market.
The large share of this segment is attributed to factors such as the increasing prevalence of various chronic diseases, the rising elderly population, favorable regulatory scenarios, technological advancements in sensor technology, the rising demand for personalized healthcare, and the integration of artificial intelligence and machine learning in monitoring devices.
Among applications, in 2024, the diabetes segment is expected to account for the largest share of the remote patient monitoring market.
Diabetes was traditionally viewed as a predominantly inherited disease but is increasingly recognized as a lifestyle-related condition due to its rapid prevalence. The large share of the segment is due to factors such as the utilization of telehealth during diabetes management, the increasing prevalence of diabetes, and the increased need to monitor diabetic patients.
Among end users, in 2024, the home-care settings segment is expected to account for the largest share of the remote patient monitoring market.
This segment's large market share is attributed to the growing shift towards home-care settings, the rise in chronic diseases among the elderly, the shortage of healthcare professionals, and increasing consumer awareness regarding the monitoring of chronic conditions through RPM tools
Market Insights
Industry Trends
- Shift From Physician-Driven to Consumer-Driven Healthcare
- Integration of Artificial Intelligence With Remote Patient Monitoring Technologies
Remote Patient Monitoring Market: Regulatory Analysis
- Overview
- North America
- U.S.
- Canada
- Europe
- Asia-Pacific
- China
- Japan
- India
- Latin America
- Middle East
Pricing Analysis
Porter's Five Forces Analysis
Company Profiles
- Medtronic plc (Ireland)
- Koninklijke Philips N.V. (Netherlands)
- OMRON Corporation (Japan)
- Boston Scientific Corporation (U.S.)
- Abbott Laboratories (U.S.)
- Siemens Healthineers AG (Germany)
- GE HealthCare Technologies, Inc. (U.S.)
- F. Hoffmann-La Roche AG (Switzerland)
- Baxter International, Inc. (U.S.)
- Oracle Corporation (U.S.)
- DexCom, Inc. (U.S.)
- VitalConnect, Inc. (U.S.)
Scope of the Report
Remote Patient Monitoring Market Assessment - by Product
- Monitoring Devices
- Software
- Services
Monitoring Devices, by Functionality
- Blood Glucose Monitoring Devices
- Cardiac Monitoring Devices
- Neurological Monitoring Devices
- Respiratory Monitoring Devices
- Multiparameter Monitoring Devices
- Blood Pressure Monitoring Devices
- Fetal and Neonatal Monitoring Devices
- Weight Monitoring Devices
- Other Monitoring Devices
Note: Other monitoring devices include temperature monitors, brain monitoring (EEG), and prothrombin monitors.
Monitoring Devices, by Type
- Wearable Monitoring Devices
- Portable Monitoring Devices
- Bench-top Monitoring Devices
Remote Patient Monitoring Market Assessment - by Application
- Diabetes
- Cardiovascular Diseases
- Neurological Diseases
- Respiratory Diseases
- Oncology
- Other Applications
Note: Other applications include maternity care, post-surgery monitoring, elderly care, medical adherence, and sleep monitoring.
Remote Patient Monitoring Market Assessment - by End User
- Home-care Settings
- Hospitals
- Long-term Care Facilities
- Other End Users
Note: Other end users include ambulatory care, healthcare payers, and clinical research organizations
Remote Patient Monitoring Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/njyf0q[blood?w=4[blood?w=4
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