Remote Patient Monitoring Market Trends 2023 Industry Demand, Revenue Growth and Competitive Analysis Forecast to 2028

The latest report by IMARC Group, titled “Remote Patient Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global remote patient monitoring market size reached US$ 1.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.96 Billion by 2028, exhibiting a growth rate (CAGR) of 15.4% during 2023-2028. 

Remote Patient Monitoring (RPM) is a healthcare practice that utilizes advanced technology to monitor the health of a patient remotely. It involves the collection, analysis, and transmission of patient data to healthcare providers, allowing for continuous monitoring of vital signs, symptoms, and other health-related metrics. This innovative approach has gained significant importance, especially in the context of modern healthcare, where the need for personalized, real-time care has grown substantially. RPM typically involves the use of various devices and sensors that patients can use in their homes, such as wearable fitness trackers, blood pressure monitors, and glucose meters. These devices collect data, which is then transmitted securely to healthcare professionals, who can assess the information in real-time. This enables timely interventions and adjustments to treatment plans, reducing the need for frequent in-person visits and hospitalizations. 

Remote Patient Monitoring Market Trends and Drivers:

The global aging population is increasing, leading to a higher prevalence of chronic diseases and a greater need for continuous healthcare monitoring. RPM helps in managing chronic conditions effectively, thus driving market growth. Additionally, RPM reduces the overall cost of healthcare by minimizing hospital readmissions, emergency room visits, and the need for in-person consultations. This cost-saving potential is a significant driver for healthcare providers and payers to adopt RPM. Other than this, the pandemic accelerated the adoption of telehealth and remote monitoring solutions, as they allowed for safer patient care while minimizing exposure to the virus. This heightened awareness and acceptance have fueled market growth. Besides this, patients are increasingly becoming proactive about their health, and they prefer the convenience of RPM, which allows them to manage their conditions from the comfort of their homes. This demand is pushing healthcare providers to offer RPM services.  

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/remote-patient-monitorning-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Device Type:

  • Blood Pressure Monitor
  • Glucose Monitor
  • Heart Rate Monitor
  • Pulse Oximeters
  • Respiratory Monitor
  • Others

Breakup by Application:

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

Breakup by End-Use:

  • Hospitals and Clinics
  • Homecare Settings
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Abbott Laboratories
  • AMD Global Telemedicine Inc.
  • BIOTRONIK SE & Co. KG
  • Boston Scientific Corporation
  • Dexcom, Inc.
  • GE Healthcare Inc. (Danaher Corporation)
  • Honeywell International Inc.
  • Koninklijke Philips N.V.
  • Medtronic Inc.
  • Nihon Kohden Corporation
  • OSI Systems Inc.
  • Roche Holding AG

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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