Patient Monitoring Systems Market

North America Remote Patient Monitoring Systems Market by Type of Devices (Breath Monitor, Heart Monitor, Multi-parameter Monitor, Hematology Monitor, and Others), Applications (Sleep Disorder, Diabetes Treatment, Cancer Treatment, Weight Management & Fitness Monitoring, Cardiovascular Diseases, and Others), End-users (Hospital/Clinics, Home Care Settings, and Others), and Geography (The US, Canada, Mexico, and Rest of North America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-2759
  • Author: Growth Market Reports
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  • No. Of Pages: 185
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The North America remote patient monitoring systems market size is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to growing geriatric population and increasing demand for home-based monitoring devices.

North America Remote Patient Monitoring Systems Market key takeaways

Remote patient monitoring is a technology that collects medical data from the patients and transmit it electronically to the healthcare provider at remote location. The technology is capable of distance monitoring and analyzing physiological parameters such as blood oxygen levels, heart rate, blood pressure, blood sugar level, and vital signs. The remote monitoring devices have improved the quality of care, patient convenience, and allow early prediction of aggravations and exacerbations. The increasing adoption of remote monitors has reduced the number of emergency department visits, and duration of hospitalization. The high risk of developing chronic disease due to rapid urbanization and demand for improved healthcare systems has greatly influenced the manufacturing of remote monitoring systems.

The patients suffering from chronic diseases are advised to avoid physical visits to hospitals owing to the threat of getting infected, which has led hospitals to implement a remote patient monitoring systems to keep track of a patient’s health from distance. The remote monitoring facilities have greatly reduced the expenditures on hospital visits by identifying small changes in the physiological health-related data of the patients due to self-monitoring. Furthermore, the advanced monitoring systems have prevented avoidable hospitalizations and reduced travel expenses to receive quality medical care. Therefore, the proper implementation of remote monitoring technologies can expand access to quality healthcare, prevent spread of infection, decrease medical expenditure, assist during emergency, and save time.

The COVID-19 pandemic has affected almost every industry including the healthcare industry. The nationwide lockdowns and stringent regulations increased the demand for home-based medical facilities. The high risk of developing serious illness due to coronavirus disease has made it challenging for several other healthcare problems for the patients having diabetes, cancer, and respiratory disorders. Therefore, the high adoption of the telemedicine practices in order to treat the patients remotely has fuel the expansion of the market. Furthermore, the outbreak of coronavirus disease has resulted in long-term association between healthcare and non-healthcare industries to manufacture advanced integrated monitoring devices. This resulted into many opportunities for the expansion of the remote patient monitoring systems market.

Market Trends, Drivers, Restraints and Opportunities

  • Increasing hospitalization of middle-aged patients suffering from cancer, diabetes, and respiratory disorders is anticipated to drive the market growth during the forecast period.
  • Growing technological advancements for breath and heart monitors owing to increasing disposable income is expected to boost the market expansion during the projected period.
  • Rising incidence of chronic diseases due to the lifestyle changes and increasing population are anticipated to spur the market growth in the coming years.
  • High manufacturing costs, large number of under diagnosed patients, and lack of awareness is expected to hamper the market growth during the forecast period.
  • Government support, growing research & development activities for technological advancement, and rising demand for affordable home care therapeutic devices are expected to create numerous opportunities for the market growth during the forecast period.

Scope of the Report

The report on the North America remote patient monitoring systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

North America Remote Patient Monitoring Systems Market -Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Type of Devices (Breath Monitor, Heart Monitor, Multi-parameter Monitor, Hematology Monitor, and Others), Applications (Sleep Disorder, Diabetes Treatment, Cancer Treatment, Weight Management & Fitness Monitoring, Cardiovascular Diseases, and Others), and End-users (Hospital/Clinics, Home Care Settings, and Others)

Geographical Scope

The US, Canada, Mexico, and Rest of North America

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Medtronic PLC; Boston Scientific; Abbott Laboratories; Koninklijke Philips N.V.; and GE Healthcare

 

North America Remote Patient Monitoring Systems Market Segment Insights

Heart monitors segment is projected to expand at a considerable CAGR

Based on type of devices, the market is segregated into breath monitors, heart monitors, multi-parameter monitors, hematology monitors, and others. The heart monitors segment is projected to expand at a considerable CAGR during the forecast period owing to the rising prevalence of heart diseases and consequent increasing death rate among middle-age population. Moreover, the large scale adoption of preventive care facilities is expected to increase the demand for heart rate monitors at a rapid pace in the coming years. On the other hand, the breath monitors segment is anticipated to hold a considerable market share in coming years owing to increasing chronic respiratory diseases due to rising pollution, reduced air quality, smoking, and regular chemical interactions. Furthermore, increasing asthmatic patients, rising demand for advanced monitors, and integration of technology such as machine learning & signal analysis are key factors that are anticipated to expand the growth of the market segment in the coming years.

North America Remote Patient Monitoring Systems Market by device

Cancer treatment segment is expected to grow at a rapid pace

On the basis of applications, the market is segmented into sleep disorder, diabetes treatment, cancer treatment, weight management & fitness monitoring, cardiovascular diseases, and others. The cancer treatment segment is expected to grow at a rapid pace during the projected period due the rising number of cancer cases and growing aging population. Additional, the increasing government initiatives and high demand for personalized medicine are the major factors that aid in the growth of the market segment in the coming years. However, the cardiovascular diseases segment is anticipated to exhibit a substantial growth during the forecast period owing to the increasing death rate of ischemic heart disease patients. Furthermore, the rising improvements in the technologies used in the development of cardiology devices, resulting in exponential monitoring outcomes, is expected to encourage the growth of the market segment during the forecast period.

North America Remote Patient Monitoring Systems Market by applications

Home care settings segment is anticipated to constitute a major market share

Based on end-users, the market is divided into hospital/clinics, home care settings, and others. The home care settings segment is anticipated to constitute a major market share during the forecast period owing to the safe, cost-effective, convenient, and suitable environment provided by home care settings to the patients. Furthermore, the high adoption of oxygen-related products in home medical equipment due to significant increase in incidence of chronic obstructive pulmonary diseases is estimated to fuel the growth of the market in the coming years. On the other hand, the hospital/clinics segment is anticipated to exhibit a substantial growth during the projected period owing to the rising emphasis on effective and early disease diagnosis in hospitals and growing procedural volume in hospital settings. Moreover, the high budget of hospitals for introducing various technologically advanced monitoring devices to meet the increasing demand is projected to boost the market growth in the upcoming years.

The US market is anticipated to constitute a key market share

In terms of geography, the market is classified as The US, Canada, Mexico, and Rest of North America. The US market is anticipated to constitute a key share of the market during the projected period owing to the increasing incidence of chronic diseases and rising demand for wireless & portable systems in the country. Moreover, the presence of reimbursement structures and high demand for cost-effective medical treatments are the major reasons to propel the expansion of the market in the coming years. However, the market in Canada is anticipated to exhibit a robust CAGR during the forecast period due to growing technological advancements to meet the demand for home care devices. Additionally, increasing hospitalization of middle-aged population with sleeping & respiratory disorders is expected to spur the market expansion during the projected timeline.

Segments

Segments Covered in the Report
The North America remote patient monitoring systems market has been segmented on the basis of

Type of Devices

  • Breath Monitor
  • Heart Monitor
  • Multi-parameter Monitor
  • Hematology Monitor
  • Others

Applications

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

End-users

  • Hospital/Clinics
  • Home Care Settings
  • Others

Geography

  • The US
  • Canada
  • Mexico
  • Rest of North America

Key Players

  • Medtronic PLC
  • Boston Scientific
  • Abbott Laboratories
  • Koninklijke Philips N.V.
  • GE Healthcare

Competitive Landscape

Key players competing in the North America remote patient monitoring systems market are Medtronic PLC; Boston Scientific; Abbott Laboratories; Koninklijke Philips N.V.; and GE Healthcare. Companies are focusing on business strategies, long-term agreements, and collaborating with each other to incorporate remote patient monitoring functionalities in their devices.

In November 2021, Medtronic Plc planned to set up a global research & development centre involving an investment of around USD 159 million at Hyderabad, India. The initiative facilitated the research work for medical products to treat over 70 health conditions that include cardiac devices, cranial & spine robotics, surgical tools, insulin pumps, patient monitoring systems, and others.

North America Remote Patient Monitoring Systems Market key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Patient Monitoring Systems Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Patient Monitoring Systems Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Patient Monitoring Systems Market - Supply Chain
  4.5. Global Patient Monitoring Systems Market Forecast
     4.5.1. Patient Monitoring Systems Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Patient Monitoring Systems Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Patient Monitoring Systems Market Absolute $ Opportunity
5. Global Patient Monitoring Systems Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Patient Monitoring Systems Market Size and Volume Forecast by Applications
     5.3.1. Sleep Disorder
     5.3.2. Diabetes Treatment
     5.3.3. Cancer Treatment
     5.3.4. Weight Management & Fitness Monitoring
     5.3.5. Cardiovascular Diseases
     5.3.6. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Patient Monitoring Systems Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Patient Monitoring Systems Market Size and Volume Forecast by End Users
     6.3.1. Hospital/Clinics
     6.3.2. Home Care Settings
     6.3.3. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Patient Monitoring Systems Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Patient Monitoring Systems Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Patient Monitoring Systems Demand Share Forecast, 2019-2026
8. North America Patient Monitoring Systems Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Patient Monitoring Systems Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Patient Monitoring Systems Market Size and Volume Forecast by Applications
     8.4.1. Sleep Disorder
     8.4.2. Diabetes Treatment
     8.4.3. Cancer Treatment
     8.4.4. Weight Management & Fitness Monitoring
     8.4.5. Cardiovascular Diseases
     8.4.6. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Patient Monitoring Systems Market Size and Volume Forecast by End Users
     8.7.1. Hospital/Clinics
     8.7.2. Home Care Settings
     8.7.3. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Patient Monitoring Systems Demand Share Forecast, 2019-2026
9. Latin America Patient Monitoring Systems Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Patient Monitoring Systems Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Patient Monitoring Systems Market Size and Volume Forecast by Applications
     9.4.1. Sleep Disorder
     9.4.2. Diabetes Treatment
     9.4.3. Cancer Treatment
     9.4.4. Weight Management & Fitness Monitoring
     9.4.5. Cardiovascular Diseases
     9.4.6. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Patient Monitoring Systems Market Size and Volume Forecast by End Users
     9.7.1. Hospital/Clinics
     9.7.2. Home Care Settings
     9.7.3. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Patient Monitoring Systems Demand Share Forecast, 2019-2026
10. Europe Patient Monitoring Systems Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Patient Monitoring Systems Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Patient Monitoring Systems Market Size and Volume Forecast by Applications
     10.4.1. Sleep Disorder
     10.4.2. Diabetes Treatment
     10.4.3. Cancer Treatment
     10.4.4. Weight Management & Fitness Monitoring
     10.4.5. Cardiovascular Diseases
     10.4.6. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Patient Monitoring Systems Market Size and Volume Forecast by End Users
     10.7.1. Hospital/Clinics
     10.7.2. Home Care Settings
     10.7.3. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Patient Monitoring Systems Demand Share Forecast, 2019-2026
11. Asia Pacific Patient Monitoring Systems Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Patient Monitoring Systems Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Patient Monitoring Systems Market Size and Volume Forecast by Applications
     11.4.1. Sleep Disorder
     11.4.2. Diabetes Treatment
     11.4.3. Cancer Treatment
     11.4.4. Weight Management & Fitness Monitoring
     11.4.5. Cardiovascular Diseases
     11.4.6. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Patient Monitoring Systems Market Size and Volume Forecast by End Users
     11.7.1. Hospital/Clinics
     11.7.2. Home Care Settings
     11.7.3. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Patient Monitoring Systems Demand Share Forecast, 2019-2026
12. Middle East & Africa Patient Monitoring Systems Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Patient Monitoring Systems Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Patient Monitoring Systems Market Size and Volume Forecast by Applications
     12.4.1. Sleep Disorder
     12.4.2. Diabetes Treatment
     12.4.3. Cancer Treatment
     12.4.4. Weight Management & Fitness Monitoring
     12.4.5. Cardiovascular Diseases
     12.4.6. Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Patient Monitoring Systems Market Size and Volume Forecast by End Users
     12.7.1. Hospital/Clinics
     12.7.2. Home Care Settings
     12.7.3. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Patient Monitoring Systems Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Patient Monitoring Systems Market: Market Share Analysis
  13.2. Patient Monitoring Systems Distributors and Customers
  13.3. Patient Monitoring Systems Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Medtronic PLC
     13.4.2. Boston Scientific
     13.4.3. Abbott Laboratories
     13.4.4. Koninklijke Philips N.V.
     13.4.5. GE Healthcare

Segments Covered in the Report
The North America remote patient monitoring systems market has been segmented on the basis of

Type of Devices

  • Breath Monitor
  • Heart Monitor
  • Multi-parameter Monitor
  • Hematology Monitor
  • Others

Applications

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

End-users

  • Hospital/Clinics
  • Home Care Settings
  • Others

Geography

  • The US
  • Canada
  • Mexico
  • Rest of North America

Key Players

  • Medtronic PLC
  • Boston Scientific
  • Abbott Laboratories
  • Koninklijke Philips N.V.
  • GE Healthcare

Key players competing in the North America remote patient monitoring systems market are Medtronic PLC; Boston Scientific; Abbott Laboratories; Koninklijke Philips N.V.; and GE Healthcare. Companies are focusing on business strategies, long-term agreements, and collaborating with each other to incorporate remote patient monitoring functionalities in their devices.

In November 2021, Medtronic Plc planned to set up a global research & development centre involving an investment of around USD 159 million at Hyderabad, India. The initiative facilitated the research work for medical products to treat over 70 health conditions that include cardiac devices, cranial & spine robotics, surgical tools, insulin pumps, patient monitoring systems, and others.

North America Remote Patient Monitoring Systems Market key players

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