Global Remote Patient Monitoring (RPM) Market Size, Overview, Key Players and Forecast 2028
Global Remote Patient Monitoring (RPM) Market is poised to register a CAGR of 26.7% during the forecast period 2022 to 2028.
Remote patient monitoring (RPM) is a technology that enables patient monitoring outside of typical clinical settings, such as at home or in a remote location. This could improve access to care and lower the cost of providing healthcare. RPM entails a patient’s doctor providing continuous remote care, frequently monitoring physical symptoms, chronic diseases, or post-hospitalization rehab. RPM can help patients preserve their independence, avoid complications, and pay for their care as little as possible, which can considerably improve their quality of life. RPM makes these objectives possible by providing care via telephony. When patients are undertaking sophisticated self-care procedures like home hemodialysis, this type of patient monitoring can be very crucial. The primary benefits of RPM include early detection of deterioration, which lowers the number of trips to the emergency room, hospitalizations, and length of hospital stays. Other key benefits include trend analysis of physiological parameter data and remote monitoring. The use of basic communication tools like Zoom, Snapchat, or even landline phones by doctors is still permitted despite though the technology is constantly being created to address this type of healthcare. Research on the use of Remote Patient Monitoring technologies has helped to determine that better patient outcomes and higher patient satisfaction can result from the further development of telehealth ecosystems, in which doctors can provide recommendations and methods of care while also receiving transmitted health information. Experts also point out that Remote Patient Monitoring will become more crucial as healthcare shifts from a volume focus to a value focus.
The Remote Patient Monitoring (RPM) report examines market segmentation forecasts by type, by application, by end user, and by region. This report offers thorough information on the industry’s profit, a SWOT analysis of market trends, significant rivals, and a market geographical study.
Key Market Players:
BioTelemetry Inc., Koninklijke Philips N.V., Medtronic, GE Healthcare, Cerner Corporation, Siemens, Healthineers AG Germany, OMRON Healthcare, Boston Scientific Corporation, Abbott Laboratories,
Resideo Life Care Solutions, Vivify Health, Inc., ALTEN Calsoft Labs, Preventice Solutions, Bio-Beat, Technologies, VitalConnect, Welch Allyn.
(Note: Please visit the report page for a comprehensive list of significant players.)
The Remote Patient Monitoring (RPM) Market’s regional overview is divided into North America, Europe, Latin America, Asia-Pacific, the Middle East and Africa, and the Rest of the World.
The most important factors contributing to the regional market growth are the rise in the prevalence of chronic diseases, the desire for wireless and portable systems, and the availability of complex reimbursement schemes designed to reduce out-of-pocket expenses. Over the course of the projected period, Europe, particularly the Western European nations, is anticipated to continue to generate the second-highest amount of income. The increased mortality rate and growing need for inexpensive medical care can be blamed for this. The region’s growth is being driven by several high-impact factors, including an increase in the requirement for internal monitoring, supportive central data management systems, and an increase in RPM accuracy and efficiency. Due to the untapped potential in India and China’s expanding markets, the Asia Pacific region is anticipated to see the highest CAGR during the projection period.
Objectives of the Study:
- To provide a report that contains a detailed analysis of the Remote Patient Monitoring (RPM) Market by type, by application, by end user, and by region.
- To give detailed statistics and data points on market-moving factors (drivers, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets as well as the entire scope of the market.
- To forecast market trends, size, and overview in key regions including North America, Europe, Asia Pacific, the Middle East, and Africa, as well as the rest of the world.
- To stay on top of the competitive environment, including new product launches, mergers and acquisitions, and technological developments, and to assess them.