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Remote Patient Monitoring (RPM) Market worth USD 117.1 billion by 2025 - Leading Companies are BioTelemetry Inc. (US), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers AG German

11-27-2020 12:14 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets

Remote Patient Monitoring (RPM) Market worth USD 117.1 billion

According to the new market research report "Remote Patient Monitoring (RPM) Market by Product (Software, Services, Devices, Cardiology, Neurological, Blood Glucose, Neonatal, Weight, Temperature, Neuro) End User (Providers, Hospitals, Clinics, Home Care, Patients, Payers) - Global Forecast to 2025", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America (US, and Canada), Europe (Germany, France, UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, and RoAPAC), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

The global Remote Patient Monitoring (RPM) Market size is projected to reach USD 117.1 billion by 2025 from USD 23.2 billion in 2020, at a CAGR of 38.2% between 2020 and 2025.

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The rising geriatric population and the growing need to expand healthcare access, cost benefits of telehealth and remote patient monitoring, benefits of RPM to reduce the burden on medical resources, advancements in telecommunications, growing incidences of chronic diseases, and increasing investments in telehealth and RPM are the major factors driving the growth of this market. However, the regulatory variations across regions, healthcare fraud, and informal usage of social media practices is expected to restrain the market growth during the forecast period.

Software and services to dominate the remote patient monitoring market in 2019

Based on the product, the RPM Market is segmented into software & services and devices. The software and services segment accounted for the largest share of the global market in 2019. The large share of this segment is mainly due to the increasing reimbursement for RPM programs and the rising number of chronic illnesses, thus leading to the growing adoption of RPM services across the globe.

Browse in-depth TOC on "Remote Patient Monitoring (RPM) Market"
149 – Tables
34 – Figures
189 – Pages
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Providers segment accounted for the largest share of the remote patient monitoring market, by end user, in 2019

Based on end users, the global market is broadly segmented into providers, payers, patients, and other end users. The providers' segment accounted for the largest share of the global market in 2019. This can be attributed to the increased adoption of remote monitoring in chronically ill and old aged patients, advancements in RPM monitoring devices, and the increasing number of RPM services offered by providers.

North America is the largest regional market for remote patient monitoring in 2019

In 2019, North America accounted for the largest share of the remote patient monitoring market, followed by Europe. The large share of North America in the RPM Market can be attributed to the rising prevalence of chronic conditions, the need to reduce healthcare expenditure, and the increasing overall & geriatric population.

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Key Players

Prominent players in the remote patient monitoring market are 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).

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