2025-2034 Remote Patient Monitoring Devices And Equipment Market Roadmap: Insights for Competitive Advantage

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How Large Will the Remote Patient Monitoring Devices And Equipment Market Size By 2025?_x000D_
The market size of devices and equipment for remote patient monitoring has seen a rapid expansion in the last few years. The market is projected to increase from $1.66 billion in 2024 to $1.9 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 14.6%. The notable growth during the historic period is due to factors such as an aging population, the management of chronic diseases, the adoption of telehealth, and the reduction in healthcare costs._x000D_
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How Big Is the Remote Patient Monitoring Devices And Equipment Market Size Expected to Grow by 2029?_x000D_
In the upcoming years, the market for remote patient monitoring devices and equipment is anticipated to experience a swift expansion. The market is projected to reach a value of $3.33 billion by 2029, progressing at a compound annual growth rate (CAGR) of 15.0%. The expansion during the forecast period can be credited to factors such as enhanced healthcare digitization, regulatory backing, personalized medical care, and value-based healthcare. Significant trends during the forecast period encompass the integration of remote monitoring, the application of artificial intelligence (AI) and machine learning, the extension of telemonitoring, and the rise of wearable technology._x000D_
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Which Key Market Drivers Powering Remote Patient Monitoring Devices And Equipment Market Expansion and Growth?_x000D_
The imminent scarcity of proficient medical practitioners such as doctors and nurses fuels the advancement of the remote patient monitoring (RPM) devices and equipment market. The surge in patients with chronic illnesses makes it challenging to carry out regular monitoring due to time and cost constraints. The escalating numbers of patients with chronic ailments, the growing requirement for close monitoring, and anticipated insufficient number of nurses in the future, collectively fuel the demand for remote patient monitoring devices and equipment. A study by Mercer reveals that by 2025, the US healthcare sector will need an additional 2.3 million workers, including nurses, physicians, lab technicians and other healthcare staff. The Bureau of Labor Statistics predicts a further demand for 203,700 new registered nurses annually by 2026. Nevertheless, a mere 438,100 nurses are expected to join by 2026, which falls greatly short of the requisite number. The World Health Organization (WHO) forecasts that by 2030, lower to middle income countries will face a shortfall of 14.5 million healthcare professionals._x000D_
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Which Fast-Growing Trends Are Poised to Disrupt the Remote Patient Monitoring Devices And Equipment Market?_x000D_
An increasing number of manufacturers specializing in remote patient monitoring devices are integrating Internet of Things (IoT) and wireless technology into their products to improve diagnosis and treatment of medical conditions. This technology is being applied to biosensor monitoring devices, which are multi-sensor systems that can be implanted or attached to the skin. These devices contain sensors that transmit data in real-time, allowing for the constant tracking of a patient's health status. IoT capabilities allow health care providers to observe patients' health metrics from a distance. These miniaturized multi-sensing devices can assist medical professionals in monitoring blood pressure, blood glucose levels, and other physiological parameters, helping them to determine suitable treatments. Xsensio, InSilixa, 1Drop Diagnostics, and Kenzen are among the major companies integrating IoT and wireless sensor technologies into their patient monitoring devices._x000D_
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What Are the Emerging Segments in the Remote Patient Monitoring Devices And Equipment Market?_x000D_
The remote patient monitoring devices and equipment market covered in this report is segmented - _x000D_
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1) By Type Of Device: Heart Monitors, Breath Monitors, Haematology Monitors, Multi-Parameter Monitors _x000D_
2) By Application: Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Monitoring And Fitness Monitoring, Other Applications _x000D_
3) By End User: Home Care Settings, Clinics, Hospitals _x000D_
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Subsegments:_x000D_
1) By Heart Monitors: ECG Monitors, Event Monitors, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices _x000D_
2) By Breath Monitors: Spirometers, Peak Flow Meters, Capnographs, Pulse Oximeters _x000D_
3) By Haematology Monitors: Blood Glucose Monitors, Coagulation Monitors, Hemoglobin Monitors _x000D_
4) By Multi-Parameter Monitors: Portable Multi-Parameter Monitors, Fixed Multi-Parameter Monitors_x000D_
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Who Are the Global Leaders in the Remote Patient Monitoring Devices And Equipment Market?_x000D_
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 _x000D_
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Which are the Top Profitable Regional Markets for the Remote Patient Monitoring Devices And Equipment Industry?_x000D_
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._x000D_
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