An improvement in the healthcare sector in developing nations and advancement in technology, along with support from the government, has driven the demand for the market.
Market Size – USD 786.4 Million in 2019, Market Growth – CAGR of 14.1%, Market Trends –Surge in incidence of coronavirus.
The Global Remote Patient Monitoring Market is expected to be valued at USD 2.14 Billion in 2027 from USD 786.4 Million in 2019, registering a CAGR of 14.1% through the forecast period. The market has experienced an enormous demand due to the rising penetration of the smart devices and internet and the fast emergence of different advanced technologies in healthcare. Furthermore, digital health has become a successful business, impacting various industries outside of the healthcare sector.
Numerous factors have contributed significantly to the industry growth. Rapid technological advancements in various industries, including the AI, are contributing to the market growth. Apart from technological developments, convenience and applicability associated with this service is another contributing factor for this sector.
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Remote patient monitoring aids the service users in operating from different locations associated with various critical medical services. These benefits associated with the service’s use have promoted its fast acceptance among various care users and end-users.
The COVID-19 virus pandemic has resulted in developing anxiety and awareness among people, stimulating a new type of tech in virus-fighting. The adoption of these remote monitoring services would particularly experience an exponential rise in several remote areas. The government support globally is augmenting the demand in the industry.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/remote-patient-monitoring-market
Further key findings from the report suggest:
- The remote heart rate monitor sub-segment is experiencing a stellar growth because of providing information on heart rate along with sending results to the webserver. By availing online services, or from the web, physicians can monitor the patient’s physical status. This system aids in monitoring the heart rates from different remote places.
- A primary reason for adopting this system is the increasing rate of obesity, resulting in CVD/ cardiovascular diseases. Owing to the rising occurrence rate of CVD, these monitoring services have been crucial for the healthcare industry.
- Nearly 88% of hospitals have highly invested in the technologies of remote patient monitoring for their shift to an advanced value-based patient care model. The hospitals are unable to tackle with the rising number of COVID patients, and with the help of remote patient monitoring, doctors are able to monitor more patients.
- Almost 1800 hospitals are using various mobile applications for treating patients. North America led the industry, with a market possession of 38.3% in 2019.
- Major companies include GE Healthcare, Abbott Laboratories, Omron Corporation, Boston Scientific Corporation, Medtronic PLC, Biotronik SE & Co. KG, General Electric Company, Nihon Kohden Corporation, Johnson and Johnson, and Masimo Corporation.
For the purpose of this report, Reports and Data has segmented the Global Remote Patient Monitoring Market on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Vital Sign Monitors
- Pulse Oximeters
- Temperature Monitor
- Brain Monitoring (EEG)
- Blood Pressure Monitors
- Heart Rate Monitor (ECG)
- Respiratory Rate Monitor
- Special Monitors
- Blood Glucose Monitors
- Respiratory Monitor
- Anesthesia Monitors
- Cardiac Rhythm Monitor
- Fetal Heart Monitors
- Multi-Parameter Monitors (MPM)
- Prothrombin Monitors
Application Outlook (Revenue, USD Billion; 2017-2027)
- Cardiovascular Diseases
- Sleep Disorders
- Weight management and Fitness Monitoring
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Hospital-based patients
- Home Healthcare
- Ambulatory Patients
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Table of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Remote Patient Monitoring Market Segmentation & Impact Analysis
4.1. Remote Patient Monitoring Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Advancement in technology
188.8.131.52. Growth in spread of coronavirus
4.2.3. Market restraints analysis
184.108.40.206. High cost
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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