North America Remote Patient Monitoring Market Drivers, Opportunities, Trends, and Forecasts by 2028

Market Introduction

North America Remote Patient Monitoring Market North America is largest market for remote patient monitoring with the US holding the largest market share followed by Canada. North America Remote Patient Monitoring Market U.S. is the largest market for the remote patient monitoring. The growth of market is due to the factors such as increase in the demand of remote patient monitoring devices from hospitals & clinics, rise prevalence in the cardiovascular disease, and home healthcare in the US and the rise in the geriatric population in U.S. In addition, the country is far ahead from the other developed and developing countries in terms of technology.

North America Remote Patient Monitoring Market The advancement in the technology has forced to develop various remote patient monitoring devices and technologies that are used for its applications However, the veterans in healthcare industry are reluctant to the adoption of remote patient monitoring systems which is restraining the remote patient monitoring devices market.

North America Remote Patient Monitoring Market The companies in the region are growing due to the adoption of the strategic steps such as agreements, collaboration, product launches and many more. For instance, in Jan 2019, NewYork-Presbyterian Hospital and Philips team up for remote patient monitoring. NewYork-Presbyterian Hospital has planned to expand its virtual care capabilities with remote monitoring services from Philips. North America Remote Patient Monitoring Market The doctors at Weill Cornell Medicine will utilize the Philips eCareCoordinator and eCareCompanion solutions under hospital affiliation. The use of remote patient monitoring devices can help to cut the chronic disease treatment cost and duration. For instance, coronary artery disease is among the leading cause of the morbidity and mortality in the well matured countries.

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North America Remote Patient Monitoring Market As per the Center of Disease Control report, one out of four deaths are attributed to coronary artery disease. The coronary artery diseases cost human, productivity, more than US$ 100 billion per year in US. In addition, the recently published report by the American Heart Association in 2018 states that one of every three deaths are caused due to cardiovascular diseases. North America Remote Patient Monitoring Market Approximately 2,300 Americans die of cardiovascular disease per year and an average of one death is recorded in every 38 seconds.

North America Remote Patient Monitoring Market North America has experienced a rising number of cases of COVID-19 since its outbreak. The clinical and product development engine has experienced profound disruption as colleagues adjust to remote work environments and lab capacity is reduced. Clinical trials are also severely affected by disruptions in both new enrollment and in keeping existing patients on therapies. The impact of COVID-19 has placed many biomedical sensors companies under pressure. North America Remote Patient Monitoring Market However, it also has had a positive impact on the medical device industry, wherein the demand for R&D activity is increasing, leading to a rise in medical device assistance for the detection of COVID-19.

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The List of Companies

Medtronic

Koninklijke Philips N.V.

Boston Scientific Corporation

Abbott

OMRON Corporation

Siemens Healthineers AG

Nihon Kohden Corporation

General Electric Company

VitalConnect

Cerner Corporation

North America Remote Patient Monitoring Market For instance, the researchers of the University Of Illinois Grainger College Of Engineering developed an ultrasensitive test using a paper-based electrochemical sensor that can detect the presence of the coronavirus in five minutes. Furthermore, the Government of Canada is invested $25.8M in COVID-19 research to contribute to the global efforts for research on medical countermeasures against COVID-19. North America Remote Patient Monitoring Market For instance, a research project on "Rapid, Ultrasensitive Clinical Detection of 2019 Novel Coronavirus (nCOVID-19) by Novel Microfluidic Electrochemical Nano-Biosensors" was funded US$ 0.79 million. The Government of Canada provided the funding ($26.8M) for the first wave of COVID-19 research projects through the CIHR, the Natural Sciences and Engineering Research Council of Canada (NSERC), the Social Sciences and Humanities Research Council (SSHRC), the International Development Research Centre (IDRC), the Canada Research Coordinating Committee (CRCC) through the New Frontiers in Research Fund (NFRF), and Genome Canada (GC). Thus, increasing funding by the government in research and development activities anticipated the growth of the remote patient monitoring market.

North America Remote Patient Monitoring Strategic Insights
The North American remote patient monitoring (RPM) market is rapidly evolving, with significant opportunities and challenges for key stakeholders, including manufacturers, investors, healthcare providers, and policymakers. Strategic insights into this market provide a data-driven understanding of the current trends, competitive landscape, and regional dynamics, enabling businesses to make informed decisions. These insights help stakeholders differentiate themselves from competitors, identify untapped market segments, and develop unique value propositions. Moreover, leveraging advanced data analytics allows stakeholders to anticipate market shifts and position themselves for long-term success.

Current Trends and Key Drivers in the RPM Market
Technological Advancements in RPM Devices: The adoption of RPM in North America is being fueled by technological advancements in wearable devices, sensors, mobile applications, and artificial intelligence (AI). Wearable health monitors such as smartwatches, continuous glucose monitors, and blood pressure cuffs are increasingly being integrated into RPM platforms. These technologies enable healthcare providers to remotely monitor a patient's vital signs, facilitating better disease management, particularly for chronic conditions like cardiovascular diseases, diabetes, and hypertension. AI and machine learning are also enhancing RPM by providing predictive analytics that can identify potential health risks before they become critical, allowing for more proactive interventions.

Government Support and Reimbursement Policies: In the United States, the Centers for Medicare & Medicaid Services (CMS) have introduced reimbursement policies for RPM services, providing financial incentives for healthcare providers to incorporate remote monitoring into their practices. This policy shift has made RPM more financially viable for healthcare organizations and has led to increased adoption across the country. The Canadian government has also shown strong support for RPM through funding research initiatives and investing in health innovation, particularly during the COVID-19 pandemic. Both countries have seen a rise in government initiatives to expand virtual care and telemedicine services, further boosting the RPM market.
Rising Demand for Home Healthcare: With the aging population in North America, more patients are seeking home healthcare solutions to manage chronic diseases and post-surgical care. RPM technologies offer patients the convenience of monitoring their health at home while still receiving high-quality medical attention remotely. The pandemic has further accelerated this shift, as patients prefer to avoid in-person visits to healthcare facilities due to concerns over COVID-19 exposure. Home healthcare services, supported by RPM, provide a safer and more cost-effective alternative to hospital-based care, making this market segment highly attractive.

Increasing Focus on Chronic Disease Management: Chronic diseases such as cardiovascular diseases, diabetes, and respiratory disorders are among the leading causes of morbidity and mortality in North America. RPM allows for continuous monitoring of patients with these conditions, enabling early detection of health issues and reducing hospital admissions. As the prevalence of chronic diseases continues to rise, particularly among the elderly population, there is a growing demand for RPM devices that can monitor these conditions remotely, leading to better disease management and improved patient outcomes.

Consumer-Driven Healthcare: Increasingly, patients are taking an active role in managing their health, and many are turning to digital health tools, such as RPM devices, to track their health metrics. As health-conscious consumers become more tech-savvy, there is a growing expectation for healthcare providers to offer remote monitoring options. This shift toward consumer-driven healthcare is creating opportunities for businesses to develop patient-centric solutions that empower individuals to manage their health more effectively.

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