Press release
Rapid Expansion of Remote Health Monitoring Market: CAGR of 15.6%, Market Size of $6.54 billion in 2025 and Key Trends
Remote Health Monitoring Market
What Is The Projected Market Size Of The Global Remote Health Monitoring Market And Its Growth Rate?
• 2024 Market Size: $5.66 billion
• 2025 Market Size: $6.54 billion (15.6% CAGR)
• 2029 Projected Market Size: $11.36 billion (14.8% CAGR)
The evolving landscape of healthcare is eminently observable with the rise in the adoption of telemedicine, government initiatives and regulations, and patients' preference for home-based care. Increasing focus on preventative healthcare and evolution of technologies such as IoT and AI is also expected to stimulate market growth.
What Is Driving The Growth In The Remote Health Monitoring Market?
A significant driver of the remote health monitoring market is the increasing global old age population. With individuals above the age of 65 requiring more focused health monitoring, remote health monitoring eliminates the need for frequent hospital visits. This not only provides early intervention by tracking a person's physiological data, but also brings down the burgeoning healthcare cost brought about by age-related chronic illnesses. For example, according to the UK Parliament's House of Commons Library, the elderly population in the UK is anticipated to increase to 22.1 million by 2072 from approximately 12.7 million residents in 2022.
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Who Are the Key Players Driving Remote Health Monitoring Market Growth?
The major players contributing to the expansion of the remote health monitoring market include:
• Nihon Kohden Corporation
• Koninklijke Philips NV
• Omron Corporation
• F. Hoffmann-La Roche Ltd.
• American Telecare Inc.
• GE Healthcare Company
• Masimo Corporation
• Abbott Laboratories
• Biotronik SE & Co. KG
• Athelas Inc.
What Are The Key Trends In The Remote Health Monitoring Market?
Some notable trends in the remote health monitoring market include the:
• Rise of wearable technology for constant health monitoring
• Need for constant chronic disease management
• Expansion of IoT connectivity in healthcare
• Growing focus on data security and privacy
• Uptick in remote patient monitoring in elderly care
What Are The Segments Of The Global Remote Health Monitoring Market?
The remote health monitoring market is segmented into:
• Devices: Including Respiratory Monitoring, Blood Glucose Monitoring, Cardiac Monitoring, Multi-Parameter Monitoring
• Application: Comprising Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Management and Fitness Monitoring, among others
• End-User: Including Home Care Settings, Hospitals or Clinics, and other end-users
Which Region Leads The Remote Health Monitoring Market?
In 2024, North America was the largest region in the remote health monitoring market. The regions of Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa are also significant contributors in the market.
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What Is Covered In The Remote Health Monitoring Market Global Market Report?
The report offers a comprehensive analysis of the remote health monitoring market, including market size analysis, key player focus, growth trends, market contributions, growth drivers, industry challenges, competitive developments, and more.
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