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Remote Patient Monitoring Market worth $96.67 billion by 2030, growing at a CAGR of 17.65% - Exclusive Report by 360iResearch
Remote Patient Monitoring Market | 360iResearch
The Global Remote Patient Monitoring Market to grow from USD 30.97 billion in 2023 to USD 96.67 billion by 2030, at a CAGR of 17.65%.
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Remote patient monitoring (RPM) refers to a form of telehealth solution that allows providers to monitor and manage their patient's chronic conditions. RPM is applied across diverse segments, such as homecare settings, long-term care centers, and hospital care. With the increased adoption of wireless and wearable technologies, RPM tools are used to manage different medical conditions such as diabetes, cardiovascular disorders, and respiratory diseases. It also facilitates remote therapy, post-acute care, and proactive health monitoring, substantially broadening its applications. The need for RPM is being driven by multiple factors, including an aging population, the rising incidences of chronic diseases and genetic disorders across the world, and the need for cost-effective healthcare delivery systems. However, the need for uninterrupted high-speed internet connectivity and difficulties associated with the analysis of large clinical datasets present notable challenges. Additionally, the growth of RPM is challenged by data security and data privacy concerns and a lack of awareness about these technologies in developing regions. However, major players are investing in efforts to include advanced technologies such as AI, ML, and IoT to increase the cybersecurity and privacy of RPM. The application of blockchain technology could also be explored for secure transmission of patient data. Companies could invest in developing comprehensive RPM solutions that are compatible with various devices and platforms for seamless data integration.
In the Americas region, particularly in the United States and Canada, the presence of a robust healthcare infrastructure has driven the adoption of RPM technologies. Consumers, driven by the convenience of healthcare access and improved patient outcomes, have shown an increasing willingness to invest in RPM. A rise in chronic diseases and disorders such as diabetes and cardiovascular diseases has also necessitated the deployment of RPM technologies in this region. The region is also characterized by rapid technological advancements and the integration of innovative technologies, such as AI, ML, and IoT, that have significantly improved the accuracy and reliability of RPM tools. The widespread use of smart devices and digital health platforms in countries such as Germany, France, and the UK act as conductors, driving up the adoption rate of RPM devices in Europe. European agencies are rapidly advancing efforts to provide remote health surveillance services for elderly people above the age of 65 and facilitate the de-institutionalization of long-term care. The exponential growth of RPM in the APAC region is fueled predominantly by awareness and acceptance of RPM technologies and increasing digitalization across various healthcare sectors in countries such as China, Japan, India, and South Korea. Furthermore, high investments in healthcare infrastructures, rapid urbanization, and a burgeoning healthcare start-up ecosystem have led to the accelerated adoption of RPM in this region.
Market Segmentation & Coverage:
This research report categorizes the Remote Patient Monitoring Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Devices, Services, and Software. The Devices is further studied across Specialized Monitors and Vital Sign Monitors. The Services is projected to witness significant market share during forecast period.
Based on Indication, market is studied across Blood Pressure, Chronic Obstructive Pulmonary Disease, Congestive Heart Failure, Diabetes, Mental Health, Neonatal, Neurology, and Tempreture. The Mental Health is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Patients, Payers, and Providers. The Providers is further studied across Ambulatory Care Centers, Home Care Settings & Long Term Care Centers, and Hospitals & Clinics. The Patients is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 43.41% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Remote Patient Monitoring Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Remote Patient Monitoring Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Remote Patient Monitoring Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Aerotel Medical Systems Ltd, Allscripts Healthcare Solutions Inc., Amazon Web Services, Inc., AMD Global Telemedicine, Inc., Biotronik SE & Co. KG, Boston Scientific Corp., CareValidate Inc., Cisco Systems, Inc., Click Labs Inc., Comarch SA, DexCom, Inc., Dräger Medical GmbH, F. Hoffmann-La Roche AG, GE Healthcare Technologies Inc., Glooko, Inc., Google LLC by Alphabet Inc., Honeywell International Inc., International Business Machines Corporation, InTouch Technologies, Inc., Johnson & Johnson Services, Inc., Koninklijke Philips N.V., LifeWatch by BioTelemetry Inc., Masimo Corporation, McKesson Corporation, Medtronic Plc, Microsoft Corporation, Omron Corp., Oracle Corporation, Pexip Holding ASA, Siemens Healthiners AG, Teladoc Health, Inc., and Tunstall Healthcare Group Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Remote Patient Monitoring Market, by Product
7. Remote Patient Monitoring Market, by Indication
8. Remote Patient Monitoring Market, by End-User
9. Americas Remote Patient Monitoring Market
10. Asia-Pacific Remote Patient Monitoring Market
11. Europe, Middle East & Africa Remote Patient Monitoring Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Remote Patient Monitoring Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Remote Patient Monitoring Market?
3. What is the competitive strategic window for opportunities in the Remote Patient Monitoring Market?
4. What are the technology trends and regulatory frameworks in the Remote Patient Monitoring Market?
5. What is the market share of the leading vendors in the Remote Patient Monitoring Market?
6. What modes and strategic moves are considered suitable for entering the Remote Patient Monitoring Market?
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