Global Remote Patient Monitoring Market Introduction and Overview
According to SPER Market Research, the Global Remote Patient Monitoring Market is estimated to reach USD 748.85 billion by 2034 with a CAGR of 23.85%.
The report includes an in-depth analysis of the Global Remote Patient Monitoring Market, including market size and trends, product mix, Applications, and supplier analysis.
The global remote patient monitoring market, which was valued at US$66.63 billion in 2023, is expected to rise at a CAGR of 23.85% to reach US$240.47 billion by 2029. The remote patient monitoring (RPM) market is expanding due to the cost savings associated with RPM adoption in the healthcare industry. Furthermore, there is a rising emphasis on patient-centered care, and RPM encourages individuals to actively participate in their own health management. This is consistent with the trend of personalized medicine and patient interaction, which will drive the RPM market throughout the projected period. However, legal differences across nations and the informal use of social media practices may limit market growth during the forecast period.
Our in-depth analysis of the Global Remote Patient Monitoring Market includes the following segments:
By Component Insights
The remote patient monitoring industry's software and services segment is predicted to grow at the fastest rate over the forecast period. Remote patient monitoring is classified into two categories: software and services, and equipment. Throughout the forecast period, the software and services category is expected to grow at a faster rate. This segment's rapid expansion is mostly attributable to patients and other end users' increasing preference for preventative care adoption outside of hospital settings, the convenience and usability of RPM devices, and the adoption of AI.
By Application Insights
The market for remote patient monitoring is segmented based on applications, including oncology, neurological, cardiovascular, respiratory, and diabetes conditions. The diabetes industry is expected to hold the largest market share in 2024. The growing prevalence of chronic diseases, the greater need to monitor diabetic patients, and the growing use of telemedicine are all factors contributing to this category's large market share.
By End User Insights
In 2024, the home-care settings segment is anticipated to hold the largest market share.
The market for remote patient monitoring is divided into many end users, including long-term care facilities, hospitals, and home-care settings. The home-care settings segment is anticipated to hold the biggest market share in 2024. The growing trend toward home-care settings, the increasing incidence of chronic diseases among the elderly, the lack of qualified healthcare workers, and growing consumer awareness of the use of RPM tools for chronic condition monitoring are all factors contributing to this segment's substantial market share.
By Regional Insights
The remote patient monitoring market is expected to grow at the fastest rate in Asia-Pacific over the course of the forecast period. A large target population, rising personal disposable incomes, rising consumer awareness, the prevalence of infectious and chronic diseases, and government programs encouraging the use of remote patient monitoring systems are all factors contributing to the growth of this regional market.
Market Competitive Landscape
The major trend in the market includes improving current technologies, launching new products, expanding product lines, and forming partnerships with healthcare facilities. In August 2023, GE HealthCare got FDA approval for a patient monitoring system with wearable sensors. Some of the key market players are Biotronik SE & Co. KG, Alive Cor, Inc, TytoCare Ltd, Teledoc Health Inc, Vivify Health, Inc, Koninklijke Philips N.V, Brook Inc, Blue Spark Technology, Welch Allyn, Health Beats, Medtronic, Oracle, Siemens Healthineers AG, Omron Healthcare, Boston Scientific Corporation, Clear Arch, Inc, GE Healthcare, Abbott Laboratories, Alten Calsoft Labs, Bio-Beat.
Recent Developments:
- In January 2024, LifeSigns, a leading AI-powered health monitoring technology company, and Apollo Hospital, a well-known multispecialty hospital in India, announced a groundbreaking partnership.
- In August 2023, EPIC Health worked together to tackle health inequities and lower heart attack and stroke risks in underserved communities in Detroit. The program will use VitalSight, OMRON's remote patient monitoring service for patients with high blood pressure, particularly those with uncontrolled Stage 2 hypertension.
- In January 2022, OMRON Healthcare, Inc., a world leader in personal health technology and remote blood pressure monitoring, announced new remote patient monitoring services, connected blood pressure monitors, and a cutting-edge mobile app at the 2022 Consumer Electronics Show (CES).
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By Application, By End User |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | Biotronik SE & Co. KG, Alive Cor, Inc, TytoCare Ltd, Teledoc Health Inc, Vivify Health, Inc, Koninklijke Philips N.V, Brook Inc, Blue Spark Technology, Welch Allyn, Health Beats, Medtronic, Oracle, Siemens Healthineers AG, Omron Healthcare, Boston Scientific Corporation, Clear Arch, Inc, GE Healthcare, Abbott Laboratories, Alten Calsoft Labs, Bio-Beat. |
Key Topics Covered in the Report:
- Global Remote Patient Monitoring Market Size (FY’2025-FY’2034)
- Overview of Global Remote Patient Monitoring Market
- Segmentation of Global Remote Patient Monitoring Market By Component (Services & Software, Devices)
- Segmentation of Global Remote Patient Monitoring Market By Application (Oncology, Cardiovascular Diseases, Diabetes, Sleep Disorders, Weight Management & Fitness Monitoring)
- Segmentation of Global Remote Patient Monitoring Market By End User (Hospitals and Clinics, Home Care Settings and Long Term Care Centers, Ambulatory Care Centers, Other End Users)
- Statistical Snap of Global Remote Patient Monitoring Market
- Expansion Analysis of Global Remote Patient Monitoring Market
- Problems and Obstacles in Global Remote Patient Monitoring Market
- Competitive Landscape in the Global Remote Patient Monitoring Market
- Details on Current Investment in Global Remote Patient Monitoring Market
- Competitive Analysis of Global Remote Patient Monitoring Market
- Prominent Players in the Global Remote Patient Monitoring Market
- SWOT Analysis of Global Remote Patient Monitoring Market
- Global Remote Patient Monitoring Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst