Press release
Remote Patient Monitoring (RPM) Market Size & Growth Forecast to 2030
Remote Patient Monitoring (RPM) Market is expected to reach USD 56.94 billion by 2030 from USD 27.72 billion in 2024, at a CAGR of 12.7%
The report "Remote Patient Monitoring (RPM) Market by Offering (Software, integrated device), Device (Wearable, implants, handheld), Function (Cardiac, Glucose, Multiparameter), Application (Diabetes, Cardio, Neuro), End user, & Region - Global Forecast to 2030", is expected to reach USD 56.94 billion by 2030 from USD 27.72 billion in 2024, at a CAGR of 12.7% during 2024-2030.
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* 354 Market Data Tables
* 64 Figures
* 395 Pages and in-depth TOC on "Remote Patient Monitoring (RPM) Market - Global Forecast to 2030"
Some of the prominent key players are:
* Koninklijke Philips N.V. (Netherlands),
* Medtronic (Ireland),
* GE Healthcare (US),
* Cerner Corporation (US),
* Siemens Healthineers AG (Germany),
* OMRON Healthcare (Japan), and many more......
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Remote Patient Monitoring (RPM) Market.
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* Based on component, the remote patient monitoring market has been segmented into devices, software and services. In 2023, device segment is estimated to hold the largest share of the market for remote patient monitoring. Some of the key growth factors for the segment are increased adoption of wearable devices for continuous health monitoring, advances in sensor technology that allow accurate data collection, and growing demand for personalized healthcare solutions.
* The global RPM market is currently growing at a rapid pace. The patient segment is expected to be the biggest driver of growth in this sector, as awareness among patients increases, the incidence of chronic diseases rises, and people increasingly prefer to receive home health care.
* The remote patient monitoring market (RPM) is segmented into five major regions: North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Asia Pacific is expected to register highest growth during the forecast period.
The growing number of elderly people and the growing need for affordable healthcare solutions are the main factors propelling the remote patient monitoring (RPM) market. The United Nations Population Fund (UNFPA) predicts people aged 65 and older will grow from our present 10.3% worldwide population in 2024 to 20.7% by 2074. People aged 65+ will put a high strain on health services since healthcare budgets remain limited. The number of adults dealing with chronic health problems, including cardiac disorders, strokes, and cancers, pushes up the demand for continued medical supervision. RPM systems detect problems sooner through wearables and connected devices, helping patients follow treatment plans and need fewer hospital visits, which generates better health results. For instances, Apple (US), AbbVie (US) and Dexcom (US) help RPM work better using digital biomarkers and AI/ML technology to detect health changes.
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