The global remote patient monitoring market is expected to grow at a CAGR of ~34% from 2021 to reach ~177 billion by 2027. The growth is primarily attributed to growing geriatric population with rising prevalence of chronic diseases, demand for expansion of healthcare access, reduction in healthcare costs & burden on medical resources and increasing investments. However, variations in regulatory framework and healthcare frauds are expected to hinder the growth of the market. High utility of remote patient monitoring in containing the contagious diseases provide with growth opportunities.
By Type: Device segment to lead the market in 2021
The global remote patient monitoring market is segmented into software & services, and devices, based on type. The device segment accounted for the largest share in 2021. The large share of this market segment can be attributed to demand surge for remote monitoring devices for tracking vitals in various countries. This high demand of connected devices is further fuelled by COVID-19 outbreak.
By Application: Application overview in the Global remote patient monitoring Market
Based on the Application, the global remote patient monitoring market classified into Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Monitoring & Fitness Monitoring, Other. The cardiovascular disease segment has dominated the market share of the worldwide remote patient monitoring market. The remote patient monitoring device uses to monitor the weight management and other health function of the patient to reduce the chances of cardiac arrest. The RPM monitor the heart rate, blood pressure, and other service and send reports via wireless connections.
By End User: Providers to dominate the remote patient monitoring market
Provider segment accounted for largest share of remote patient monitoring market, by end user in 2021. The large share is mainly attributed to growing adoption of remote patient monitoring in geriatric and chronically ill patients, technological advancements and improving remote monitoring services.
By Region: North America expected to dominate the regional market
North America is expected to dominate the remote patient monitoring market by region. The large share is primarily attributed to rapidly increasing adoption of connected devices and remote patient monitoring services, prevalence of chronic diseases, growing geriatric population and initiatives to curb healthcare expenditure. APAC is expected to register highest CAGR. Increasing awareness on remote patient monitoring services, growing focus on connected devices by patient, and rapidly expanding patient pool are expected to drive the growth of this regional segment.
Competitive Scenario
- BioTelemetry Inc. (US)
- Koninklijke Philips N.V. (Netherlands)
- Medtronic (Ireland)
- GE Healthcare (US)
- Cerner Corporation (US)
- Siemens Healthineers AG Germany
- OMRON Healthcare (Japan)
- Boston Scientific Corporation (US)
- Abbott Laboratories (US)
- Resideo Life Care Solutions (US)
- Vivify Health Inc. (US)
- ALTEN Calsoft Labs (France)
- Preventice Solutions (US)
- Bio-Beat Technologies (Israel)
- VitalConnect (US)
- Welch Allyn (US)
- Teladoc Health Inc. (US)
- Dexcom Inc. (US)
- iRhythm Technologies Inc. (US)
- and VivaLNK Inc. (US) are some of the key players operating in this market.
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
5. Industry Insights
5.1. Introduction
5.2. Industry Trends
6. Global Remote Patient Monitoring Market, By Type, 2019-2027 (USD Million)
6.1. Services & software
6.2. Devices
7. Global Remote Patient Monitoring Market, By End User, 2019-2027 (USD Million)
7.1. Providers
7.2. Payers
7.3. Patients
7.4. Other End Users
8. Global Remote Patient Monitoring Market, By Geography, 2019-2027 (USD Million)
8.1. North America
8.1.1. US
8.1.2. Canada
8.2. Europe
8.2.1. Germany
8.2.2. UK
8.2.3. France
8.2.4. Italy
8.2.5. Spain
8.2.6. Rest of Europe
8.3. Asia-Pacific
8.3.1. China
8.3.2. Japan
8.3.3. India
8.3.4. Rest of Asia-Pacific
8.4. Rest of the World
8.4.1. Latin America
8.4.2. Middle East & Africa
9. Competitive Landscape
9.1. Introduction
9.2. Market Share Analysis, By Key Players (2020)
9.3. Competitive Situation and Trends
9.3.1. Product Launches
9.3.2. Partnerships, Collaborations and Agreements
9.3.3. Acquisitions
9.3.4. Expansions
9.3.5. Other Developments
10. Company Profiles
10.1. BioTelemetry Inc. (US)
10.2. Koninklijke Philips N.V. (Netherlands)
10.3. Medtronic (Ireland)
10.4. GE Healthcare (US)
10.5. Cerner Corporation (US)
10.6. Siemens Healthineers AG Germany
10.7. OMRON Healthcare (Japan)
10.8. Boston Scientific Corporation (US)
10.9. Abbott Laboratories (US)
10.10. Resideo Life Care Solutions (US)
10.11. Vivify Health, Inc. (US)
10.12. ALTEN Calsoft Labs (France)
10.13. Preventice Solutions (US)
10.14. Bio-Beat Technologies (Israel)
10.15. VitalConnect (US)
10.16. Welch Allyn (US)
10.17. Teladoc Health Inc. (US)
10.18. Dexcom Inc. (US)
10.19. iRhythm Technologies, Inc. (US)
10.20. VivaLNK Inc. (US).
11. Appendix
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
