Remote Patient Monitoring Devices And Equipment Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share

How Big Is the Remote Patient Monitoring Devices And Equipment Market Expected to Be, and What Will Its Growth Rate Be?
In the past few years, there has been a substantial expansion in the market size for remote patient monitoring devices and equipment. The market is projected to increase from a value of $1.66 billion in 2024 to $1.9 billion in 2025, indicating a compound annual growth rate (CAGR) of 14.6%. Factors such as an aging population, management of chronic diseases, the adoption of telehealth, and the reduction in healthcare costs have contributed to the market growth in the historical period.

In the upcoming years, the market size for devices and equipment aimed at remote patient monitoring is projected to surge significantly. By 2029, its valuation is expected to reach $3.33 billion, indicating a Compound Annual Growth Rate (CAGR) of 15.0%. This anticipated growth during the forecast period can be ascribed to various factors like the surge in healthcare digitization, regulatory backing, personalised healthcare, and value-based healthcare services. Some of the notable trends predicted for the forecast period include the integration of remote monitoring, advancements in artificial intelligence (AI) and machine learning, the growing scope of telemonitoring, and advancements in wearable technology.

What Are the Primary Growth Drivers for the Remote Patient Monitoring Devices And Equipment Market?
The impending shortfall of trained healthcare professionals, such as doctors and nurses, is bolstering the market for remote patient monitoring (RPM) devices and equipment. An increase in patients suffering from chronic diseases is making it harder to supervise them because of constraints in terms of time and costs. Therefore, the escalating patient count with chronic ailments necessitates monitoring enhancements and predicts a prospective decline in available nurses, boosting further growth for remote patient monitoring devices and equipment. A study by Mercer reveals that by 2025, the US will demand 2.3 million new healthcare workers, which comprise nurses, doctors, laboratory experts, along with different healthcare staff. Adding to this, the Bureau of Labor Statistics states an extra requirement for 203,700 freshly registered nurses every year till 2026. Nevertheless, it is anticipated that only 438,100 nurses will be incorporated till 2026, which is far below the need. The World Health Organization (WHO) anticipates that by 2030, there will be a dearth of 14.5 million healthcare professionals in low- and middle-income nations.

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Who Are the Dominant Companies Influencing Remote Patient Monitoring Devices And Equipment Market Trends?
Major companies operating in the remote patient monitoring devices and equipment market include Philips Healthcare, Honeywell International Inc., GE Healthcare, Medtronic plc, Boston Scientific Corporation, Johnson & Johnson, Biotronik, Robert Bosch GmbH, COVIDien Plc., American Telecare Inc., Intel Corporation, Welch Allyn Inc., Health Anywhere Inc., Global Media Group LLC, AMD Global Telemedicine Inc., Bayer Healthcare AG, IBM Watson, accenture* plc, Telesofia Medical Ltd., Boehringer Ingelheim GmbH, Eliza Corporation, Natus Medical Inc., Nihon Kohden Corporation, Compumedics, DexCom Inc., Abbott Laboratories, Aerotel Medical Systems Ltd., GYANT Health, Vitls Inc., Medopad, Polso

How Is the Remote Patient Monitoring Devices And Equipment Market Evolving?
Manufacturers of remote patient monitoring devices are increasingly incorporating Internet of Things (IoT) and wireless technology into their products to more effectively diagnose and manage health conditions. Technologies like wireless biosensor monitoring systems, which can be implanted or embedded into the skin, comprise sensors that provide real-time data about a patient's health status. The use of IoT technology allows healthcare providers to oversee patients' health indicators from afar. These compact, multi-sense devices assist medical professionals in monitoring vital signs such as blood pressure, glucose levels, and other physiological measures, allowing them to prescribe suitable treatments. Xsensio, InSilixa, 1Drop Diagnostics, and Kenzen are among the significant companies providing patient monitoring devices integrated with IoT and wireless sensor technology.

What Are the Different Segmentations in the Remote Patient Monitoring Devices And Equipment Market?
The remote patient monitoring devices and equipment market covered in this report is segmented -

1) By Type Of Device: Heart Monitors, Breath Monitors, Haematology Monitors, Multi-Parameter Monitors
2) By Application: Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Monitoring And Fitness Monitoring, Other Applications
3) By End User: Home Care Settings, Clinics, Hospitals

Subsegments:
1) By Heart Monitors: ECG Monitors, Event Monitors, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices
2) By Breath Monitors: Spirometers, Peak Flow Meters, Capnographs, Pulse Oximeters
3) By Haematology Monitors: Blood Glucose Monitors, Coagulation Monitors, Hemoglobin Monitors
4) By Multi-Parameter Monitors: Portable Multi-Parameter Monitors, Fixed Multi-Parameter Monitors

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Which Region Is at the Forefront of the Remote Patient Monitoring Devices And Equipment Market?
Asia-Pacific was the largest region in the global remote patient monitoring devices and equipment market in 2023. North America was the second-largest region in the remote patient monitoring devices and equipment market. The regions covered in the remote patient monitoring devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Is Covered In The Remote Patient Monitoring Devices And Equipment Global Market Report?

- Market Size Analysis: Analyze the Remote Patient Monitoring Devices And Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Remote Patient Monitoring Devices And Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Remote Patient Monitoring Devices And Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Remote Patient Monitoring Devices And Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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