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Global Remote Patient Monitoring (RPM) Market To Expand at Hight CAGR rate of 38% During forecast year 2019-2030

February 8th, 2021 Wise Guy Research Consultants Pvt. Ltd. Releases

Product Overview

Remote patient monitoring (RPM) is a technology used to collect medical and health-related data from individuals at one location and electronically transmit it to a healthcare provider at another location. RPM is used to remotely monitor and analyze physiological parameters such as blood oxygen levels, vital signs, blood pressure, heart rate, and blood sugar, which improves the quality of care, quality of life, and allows early prediction of aggravations and exacerbations.

Market Highlights

Remote Patient Monitoring (RPM) Market is expected to project a notable CAGR of 38.6% in 2030.

Remote Patient Monitoring (RPM) Market to surpass USD 125.1 Million by 2030 from USD 23.5 Million in terms of value growing at a CAGR of 38.6% throughout the forecast period, i.e., 2019-30. The rising geriatric population and the growing need to expand healthcare access, cost benefits of telehealth and remote patient monitoring, benefits of RPM to reduce the burden on medical resources, advancements in telecommunications, growing incidences of chronic diseases, and increasing investments in telehealth and RPM are the major factors driving the growth of this market.

Remote Patient Monitoring (RPM) Market: Segments

Multi Parameter Monitors Segment to grow with the highest CAGR during 2019-30

Remote Patient Monitoring (RPM) Market is segmented by type as Heart Monitors, Breath Monitors, Hematology Monitors, Multi-parameter Monitors, and Other. The Heart Monitor segment is estimated to lead the market with a share of over 80.0% of Remote Patience monitoring market in 2018 and this trend is expected to continue during the forecast period. Heart rate monitor is identified as the dominating product sub-segment due to the increasing incidence of cardiac conditions globally. The surge in the number of individuals with heart disorders has led to the increased usage of these monitors. The multi-parameter remote monitoring devices are used not only by medical professionals but also by the health-conscious population, as sleep and activity monitors fall in these categories.

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Remote Patient Monitoring (RPM) Market: Market Dynamics

Drivers

Rising Burden of Chronic Diseases

Chronic heart diseases, diabetes, and chronic respiratory diseases are the leading cause of mortality and morbidity in the world. Chronic care management accounts for 75% of the healthcare costs. The increase in prevalence of chronic conditions places an enormous financial burden on the caregivers. Thus, it reduces the readmissions and prevents avoidable hospitalizations.

Restrain

Stringent Regulatory Framework

The major factors, such as lack of awareness and issues pertaining to price constraints, restrain the growth of RPM market. Despite significant factors driving the wider adoption of remote patient monitoring systems, resistance from the healthcare industry professionals toward the adoption of the patient monitoring system, lack of proper reimbursement policies, and stringent regulatory framework are the challenges faced by the market.

Remote Patient Monitoring (RPM) Market: Regions

Remote Patient Monitoring (RPM) Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.

Remote Patient Monitoring (RPM) Market in North America led the market in 2018. Increasing geriatric population, the incidence of chronic diseases, demand for wireless and portable systems coupled with the presence of sophisticated reimbursement structure aimed at cutting out of pocket expenditure levels are the major factors attributed to the regional growth. Europe, especially the Western European countries, due to a higher mortality rate and rising demand for low-cost treatment, is expected to remain the second most profit-generating region over the forecast period. Rising demand for in-house monitoring, supportive central data management systems and rising accuracy and efficiency of remote patient monitors are the high impact rendering drivers for the regional growth.

For Any Query: https://www.wiseguyreports.com/enquiry/6136701-remote-patient-monitoring-rpm-market-outlook-2030-industry

Remote Patient Monitoring (RPM) Market: Key Players

  • Abbott Laboratories

o Company Overview

o Business Strategy

o Key Product Offerings

o Financial Performance

o Key Performance Indicators

o Risk Analysis

o Recent Development

o Regional Presence

o SWOT Analysis

  • Aerotel Medical Systems
  • AMD Global Telemedicine
  • Baxter International Inc.
  • Boston Scientific Corporation
  • GE Healthcare
  • Masimo Corporation
  • Medtronic PLC
  • Omron Corporation

Remote Patient Monitoring (RPM) Market report also contains analysis on:

Remote Patient Monitoring (RPM) Market Segments:

By Type:

  • Heart Monitors
  • Breath Monitors
  • Hematology Monitors
  • Multi-parameter Monitors
  • Other

By Application:

  • Cancer Treatment
  • Cardiovascular Diseases
  • Diabetes Treatment
  • Sleep Disorder
  • Weight Management and Fitness Monitoring
  • Other Applications

By End User:

  • Home Care Settings
  • Hospital/Clinics
  • Other
  • Remote Patient Monitoring (RPM) Market Dynamics
  • Remote Patient Monitoring (RPM) Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

 

Table of Content

  1. Executive Summary
  2. Remote Patient Monitoring (RPM) Market
  3. Research Methodology
  4. Average Pricing Analysis
  5. Macro-Economic Indicators
  6. Market Dynamics
  7. Correlation & Regression Analysis
  8. Recent Development, Policies & Regulatory Landscape
  9. Risk Analysis
  10. Remote Patient Monitoring (RPM) Analysis
  11. Remote Patient Monitoring (RPM) Market
  12. Remote Patient Monitoring (RPM): Market Segmentation
  13. Company Profile

Read Other Reports from our Database :

http://www.marketwatch.com/story/aseptic-packaging-for-the-pharmaceutical-market-2021-global-trends-share-growth-analysis-opportunities-and-forecast-to-2025-2021-01-04

http://www.marketwatch.com/story/digital-dentistry-market-report-2021-by-supply-demand-consumption-sale-price-share-revenue-and-top-manufacturers-2021-01-04

About Us:

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available. We also provide COTS (Commercial off the Shelf) business sector reports as custom exploration agreeing your particular needs.

 

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