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Remote Patient Monitoring Market Size, Share & Trends | 2031

Remote Patient Monitoring Market

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Segments - by Condition (Congestive Heart Failure, Mental Health, Blood Pressure, Diabetes, Chronic Obstructive Pulmonary Disease, and Others), by Component (Services, Devices, Software, Cardiology, Neonatal, Neurological, and Others), End-user (Clinics, Payers, Providers, Hospitals, and Patients), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Raksha Sharma

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Vishal Golekar

Report Description

The remote patient monitoring market size was valued at nearly USD 52.3 Bn in 2022 and is anticipated to reach USD 395.3 Bn by 2031, expanding at a CAGR of 25.2% during the forecast period, 2023 – 2031. The growth of the market is attributed to the advancements in technology, rising geriatric population, and growing need to reduce the burden on healthcare facilities.

Remote patient monitoring known as remote physiologic monitoring involves the use of digital technologies for capturing and the monitoring medical and health data of patients. Collected data is electronically transmitted to healthcare providers for providing patient-specific recommendations, assessment and, instructions. Data collection is in the form of weight, pacemaker information, blood sugar levels, blood pressure levels, or vital signs.

Remote patient monitoring (RPM) programs ensure varied device types such as blood glucose meters, weight scales, blood pressure monitors, pulse oximeters, heart rate monitors, and special screens for Parkinson's disease and dementia. Smart wearable devices make up an remote patient monitoring system. Continuous monitoring of biometrics by healthcare teams accompanied by telehealth visits are highlights of an remote patient monitoring system that reduces travel time and expenses for patients.

The market report finds that the COVID-19 pandemic propelled the remote patient monitoring management market owing to social distancing norms, which increased virtual consultations for health problems. Less availability of hospital beds led to the high adaptation of home-based patient consultation and care systems.

Remote Patient Monitoring Market Dynamics

Major Drivers

The increasing number of elderly patients requiring focused medical attention for intensive care of chronic diseases is driving the remote patient monitoring market at affordable prices. Remote patient monitoring services reduce the efforts for the elderly to visit healthcare facilities often which are expected to fuel the market.

Existing Restraints

Variations in regulations on the use of remote patient monitoring services across regions and their commercial use may hamper the market. Healthcare fraud may be committed due to a lack of vigilance which impedes the market.

Emerging Opportunities

Massive growth opportunities are anticipated through the monetization of patient data gathered through remote patient monitoring. The collected data can be classified to identify potential risk groups for the effective treatment of patients.

Scope of Remote Patient Monitoring Market Report

The report on the global remote patient monitoring 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	Remote Patient Monitoring Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016 – 2021
Forecast Period	2023–2031
Segmentation	Condition (Congestive Heart Failure, Mental Health, Blood Pressure, Diabetes, Chronic Obstructive Pulmonary Disease, and Others), Component (Services, Devices, Software, Cardiology, Neonatal, Neurological, and Others), and End-user (Clinics, Payers, Providers, Hospitals, and Patients)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Remote Patient Monitoring Market Size and Analysis, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Biotronik SE & Co. KG; General Electric Company; Boston Scientific Corporation; Medtronic Plc; Masimo Corporation; Aerotel Medical Systems Ltd.; Nihon Kohden Corporation; Abbott Laboratories; Johnson and Johnson; Omron Corporation; Siemens Healthineers Ag; Abbott Laboratories; Alten Calsoft Labs; Resideo Life Care Solutions; Vivify Health, Inc.; Preventice Solutions; and Bio-Beat Technologies.

Remote Patient Monitoring Market Segment Insights

Condition Segment Analysis

Based on the condition, the market is divided into congestive heart failure, mental health, blood pressure, diabetes, chronic obstructive pulmonary disease, and others. The congestive heart failure segment is anticipated to hold a key share of the market owing to the growing geriatric population. Increasing spate of chronic diseases and heart ailments with lifestyle changes is expected to boost the segment.

The diabetes segment is expected to expand exponentially in the coming years owing to the growing stress levels and unhealthy lifestyles of the population in urban areas. Diabetes treatment involves reducing obesity, increasing physical activity, and consumption of healthy foods that are expected to boost the segment.

End-User Segment Analysis

On the basis of the end-user, the remote patient monitoring management market is divided into clinics, payers, providers, hospitals, and patients. The hospital segment is anticipated to dominate the market during the forecast period owing to the growing number of patients opting for treatments with experienced physicians at multi-specialty hospitals. Advanced healthcare hospital facilities are available at the disposal of physicians at less expensive prices which is expected to propel the segment in the forecast period.

The clinics segment is expected to expand exponentially in the coming years due to the personal attention and care provided to individual patients suffering from chronic health complications. Focused treatment of chronic health complications with less crowding of patients in specialty clinics is anticipated to propel the segment.

Regional Analysis

In terms of region, the global remote patient monitoring management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period due to the increasing prevalence of chronic diseases and growing geriatric population in North America.

Rising demand for portable remote patient monitoring systems, presence of a sophisticated reimbursement structure, and a well-established reimbursement structure of integrated healthcare systems with remote technology for patient screening are likely to propel the market in North America.

The market in Asia Pacific is projected to grow at a rapid pace in the coming years, owing to the rising heart disorders in the region. Increasing digital healthcare and advancements in remote monitoring technologies are expected to drive the market in Asia Pacific.

Segments

The global remote patient monitoring management market has been segmented on the basis of

Condition

Congestive Heart Failure
Mental Health
Blood Pressure
Diabetes
Chronic Obstructive Pulmonary Disease
Others

Component

Services
Devices
Software
Cardiology
Neonatal
Neurological
Others

End-user

Clinics
Payers
Providers
Hospitals
Patients

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Biotronik SE & Co. KG
Koninklijke Philips N.V.
General Electric Company
Boston Scientific Corporation
Medtronic Plc
Masimo Corporation
Aerotel Medical Systems Ltd.
Nihon Kohden Corporation
Abbott Laboratories
Johnson and Johnson
Omron Corporation
Siemens Healthineers Ag
Abbott Laboratories
Alten Calsoft Labs
Resideo Life Care Solutions
Vivify Health, Inc.
Preventice Solutions
Bio-Beat Technologies

Competitive Landscape

Biotronik SE & Co. KG; Koninklijke Philips N.V.; General Electric Company; Boston Scientific Corporation; Medtronic Plc; Masimo Corporation; Aerotel Medical Systems Ltd.; Nihon Kohden Corporation; Abbott Laboratories; Johnson and Johnson; Omron Corporation; Siemens Healthineers Ag; Abbott Laboratories; Alten Calsoft Labs; Resideo Life Care Solutions; Vivify Health, Inc.; Preventice Solutions; and Bio-Beat Technologies are some key players in the remote patient monitoring management market.

These companies are adopting strategies including marketing product portfolios, increasing market share in existing markets, entering new market spaces, and putting across product reviews to the customer for expanding their consumer base worldwide. Competitive landscape covers key insights into growth strategies adopted by major market players.

In 2020, Philips launched a product range for supporting maternal and fetal monitoring known as the Avalon CL Fetal and Maternal Pod and Patch. This has reduced the unnecessary contact of external agents with patients. Non-invasive uninterrupted monitoring of the fetal heart rate, maternal heart rate, and uterine activity is possible through the Pod and Patch.

Remote Patient Monitoring Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Remote Patient Monitoring 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. Remote Patient Monitoring Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Remote Patient Monitoring Market - Supply Chain
  4.5. Global Remote Patient Monitoring Market Forecast
     4.5.1. Remote Patient Monitoring Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Remote Patient Monitoring Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Remote Patient Monitoring Market Absolute $ Opportunity
5. Global Remote Patient Monitoring Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Remote Patient Monitoring Market Size and Volume Forecast by End Users
     5.3.1. Clinics
     5.3.2. Payers
     5.3.3. Providers
     5.3.4. Hospitals
     5.3.5. Patients
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Remote Patient Monitoring Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Remote Patient Monitoring Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Remote Patient Monitoring Demand Share Forecast, 2019-2026
7. North America Remote Patient Monitoring Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Remote Patient Monitoring Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Remote Patient Monitoring Market Size and Volume Forecast by End Users
     7.4.1. Clinics
     7.4.2. Payers
     7.4.3. Providers
     7.4.4. Hospitals
     7.4.5. Patients
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Remote Patient Monitoring Demand Share Forecast, 2019-2026
8. Latin America Remote Patient Monitoring 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
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Remote Patient Monitoring Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Remote Patient Monitoring Market Size and Volume Forecast by End Users
     8.4.1. Clinics
     8.4.2. Payers
     8.4.3. Providers
     8.4.4. Hospitals
     8.4.5. Patients
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Remote Patient Monitoring Demand Share Forecast, 2019-2026
9. Europe Remote Patient Monitoring 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. Europe Average Pricing Analysis
  9.2. Europe Remote Patient Monitoring Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Remote Patient Monitoring Market Size and Volume Forecast by End Users
     9.4.1. Clinics
     9.4.2. Payers
     9.4.3. Providers
     9.4.4. Hospitals
     9.4.5. Patients
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Remote Patient Monitoring Demand Share Forecast, 2019-2026
10. Asia Pacific Remote Patient Monitoring 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. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Remote Patient Monitoring Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Remote Patient Monitoring Market Size and Volume Forecast by End Users
     10.4.1. Clinics
     10.4.2. Payers
     10.4.3. Providers
     10.4.4. Hospitals
     10.4.5. Patients
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Remote Patient Monitoring Demand Share Forecast, 2019-2026
11. Middle East & Africa Remote Patient Monitoring 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. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Remote Patient Monitoring Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Remote Patient Monitoring Market Size and Volume Forecast by End Users
     11.4.1. Clinics
     11.4.2. Payers
     11.4.3. Providers
     11.4.4. Hospitals
     11.4.5. Patients
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Remote Patient Monitoring Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Remote Patient Monitoring Market: Market Share Analysis
  12.2. Remote Patient Monitoring Distributors and Customers
  12.3. Remote Patient Monitoring Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Biotronik SE & Co. KG
     12.4.2. Koninklijke Philips N.V.
     12.4.3. General Electric Company
     12.4.4. Boston Scientific Corporation
     12.4.5. Medtronic Plc
     12.4.6. Masimo Corporation
     12.4.7. Aerotel Medical Systems Ltd.
     12.4.8. Nihon Kohden Corporation
     12.4.9. Abbott Laboratories
     12.4.10. Johnson and Johnson
     12.4.11. Omron Corporation
     12.4.12. Siemens Healthineers Ag
     12.4.13. Abbott Laboratories
     12.4.14. Alten Calsoft Labs
     12.4.15. Resideo Life Care Solutions
     12.4.16. Vivify Health, Inc.
     12.4.17. Preventice Solutions
     12.4.18. Bio-Beat Technologies

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