Dublin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The "Remote Patient Monitoring Market by Product Type, Application, End-user, and by Region" report has been added to ResearchAndMarkets.com's offering. This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The global remote patient monitoring market accounted for USD 2.65 billion in 2023 and is expected to reach USD 17.38 billion by 2034 with a CAGR of 18.36% during the forecast period 2024-2034. The market will grow due to factors such as the prevalence of chronic diseases, reimbursement policies, and regulatory support, data analytics and artificial intelligence advancements in communication technologies, and lower costs for RPM devices.
The North American market is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high technology adoption, and supportive regulatory environment. Additionally, Asia-Pacific is estimated to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of chronic diseases, rising healthcare expenditure, and rapid technological advancements in healthcare. For instance, Omron Healthcare announced the release of its wearable blood pressure monitor, HeartGuide 2, with remote monitoring capabilities in February 2024.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Product Type, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Market Players
- Medtronic plc
- Koninklijke Philips N.V.
- Abbott Laboratories
- GE Healthcare
- Omron Healthcare Inc.
- BioTelemetry Inc.
- Masimo Corporation
- Biotronik SE & Co. KG
- Honeywell International Inc.
- Nihon Kohden Corporation
- Boston Scientific Corporation
- Smiths Group plc
- ResMed Inc.
- iRhythm Technologies Inc.
- Hillrom Holdings Inc.
- 20% Free Customization Available to Meet Your Exact Requirements
Remote Patient Monitoring Market Analysis & Forecast by:
Product Type 2023-2034 (Revenue USD Bn)
- Monitoring Devices
- Vital Sign Monitors
- Specialized Monitors
- Implantable Monitors
- Software
- Standalone Software
- Integrated Software
- Services
By product type, the monitoring devices segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the increased prevalence of chronic diseases, technological advancements, and the rising adoption of wearable and implantable devices. For instance, Philips announced in March 2024 the release of their next-generation Avalon CL Maternal and Fetal Pod and Patch obstetrics solution. Additionally, the software segment is estimated to grow at the fastest CAGR during the forecast period owing to the increasing integration with electronic health records, advancements in data analytics and AI, and the rising demand for real-time health monitoring and personalized care solutions.
Application 2023-2034 (Revenue USD Bn)
- Cancer
- Cardiovascular Diseases
- Diabetes
By application, the diabetes segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the growing prevalence of diabetes, the need for continuous glucose monitoring, and advancements in diabetes management technologies. For instance, Abbott announced in April 2024 that the NeuroSphereTM Virtual Clinic, a remote neuromodulation patient care system, had received FDA approval. Additionally, the cardiovascular diseases segment is estimated to grow at the fastest CAGR during the forecast period owing to improvements in remote monitoring technologies for cardiovascular health, the growing prevalence of heart-related disorders, and the requirement for ongoing cardiac monitoring.
End-user 2023-2034 (Revenue USD Bn)
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
- Long-term Care Centers
- Others
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the high patient volume, increased adoption of advanced monitoring technologies, and the need for efficient patient management and care coordination. For instance, GE Healthcare and Verana Health announced a collaboration in January 2024 to expedite the development of remote patient monitoring technologies. Additionally, the home care settings segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for home-based care, advancements in remote monitoring technology, and the rising need for cost-effective healthcare solutions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $2.65 Billion |
| Forecasted Market Value (USD) by 2034 | $17.38 Billion |
| Compound Annual Growth Rate | 18.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/qs7s0x
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