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Home » Our Report Repository » Remote Patient Monitoring (RPM) Market Analysis and Global Forecast (2023-2033) with COVID Impact Analysis
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Remote Patient Monitoring (RPM) Market Analysis and Global Forecast (2023-2033) with COVID Impact Analysis

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Remote Patient Monitoring (RPM) Market Research Report: Information By Component (Devices, Software), By Condition (Congestive Heart Failure (CHF), Diabetes, Chronic Obstructive Pulmonary Disease (COPD), Blood Pressure, Mental Health, Others), and by Region — Forecast till 2033

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Description

Remote Patient Monitoring (RPM) Market Overview

The Remote Patient Monitoring (RPM) Market Size is expected to reach USD 9.74 Billion by 2033. The Remote Patient Monitoring (RPM) industry size accounted for USD 2.14 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 16.34% from 2023 to 2033. Remote Patient Monitoring (RPM) is a healthcare practice that involves the use of technology to collect and monitor patient data outside of traditional healthcare settings. It enables healthcare providers to remotely track and monitor patients’ health conditions and vital signs, such as blood pressure, heart rate, blood glucose levels, oxygen saturation, and other relevant parameters. RPM utilizes various devices, such as wearable sensors, mobile applications, and home-based monitoring equipment, to gather real-time health information from patients. This data is then transmitted securely to healthcare professionals or monitoring centers, allowing them to review and assess the patient’s health status. By remotely monitoring patients, healthcare providers can proactively detect changes or trends in their conditions, intervene when necessary, and provide timely medical interventions or adjustments to their treatment plans.

Global Remote Patient Monitoring (RPM) Market Synopsis

COVID-19 Impact Analysis

The COVID-19 pandemic had a profound and remarkable impact on the Remote Patient Monitoring (RPM) market. As the healthcare industry faced unprecedented challenges, RPM emerged as a vital solution to ensure continuity of care while minimizing the risk of viral transmission. The pandemic highlighted the importance of remote monitoring, enabling healthcare providers to remotely track and manage patients’ health conditions, particularly for those vulnerable or quarantined at home. The increased demand for RPM solutions led to rapid advancements in technology and the adoption of telehealth practices, facilitating virtual consultations and remote data collection. The pandemic also accelerated regulatory changes and reimbursement policies to support the widespread implementation of RPM. Consequently, the RPM market experienced exponential growth, with expanded applications and increased investment, signaling a paradigm shift in healthcare delivery and shaping the future of patient care.

Remote Patient Monitoring (RPM) Market Dynamics

The major factors that have impacted the growth of Remote Patient Monitoring (RPM)s are as follows:

Drivers:

The increasing prevalence of chronic diseases and the aging population

As the global population continues to age, the incidence of chronic conditions, such as diabetes, hypertension, heart disease, and respiratory illnesses, has been on the rise. RPM offers a proactive approach to managing these chronic conditions by providing continuous monitoring and early detection of potential health issues. This driver has led to a growing demand for RPM solutions as healthcare systems seek to improve patient outcomes and reduce the burden of hospitalizations and emergency visits.

Restraint:

  • Concern regarding data privacy and security

As RPM involves the remote collection and transmission of sensitive patient health information, there are heightened risks of data breaches or unauthorized access. The fear of compromised privacy and security may deter some patients and healthcare providers from fully embracing RPM technologies. Addressing these concerns by implementing robust data protection measures, complying with relevant regulations, and ensuring transparent communication about data handling can help overcome this restraint.

Opportunity:

The advancements in wearable technology and Internet of Things (IoT) devices

The continuous development of more sophisticated and user-friendly wearable sensors and IoT devices enables real-time data collection and seamless integration with RPM platforms. This presents an opportunity to enhance patient engagement and adherence, as well as to expand RPM applications to monitor a broader range of health parameters. Furthermore, the increasing popularity of telehealth and virtual care services, driven in part by the COVID-19 pandemic, opens up new possibilities for RPM adoption and integration into healthcare systems. By leveraging telehealth platforms, RPM can reach more patients, including those in remote or underserved areas, and contribute to improving overall healthcare accessibility and efficiency.

Remote Patient Monitoring (RPM) Segment Overview

By Component

Based on Components, the market is segmented based on Devices and Software. The Devices segment is expected to witness significant growth during the forecast period. Technological advancements have led to the development of more sophisticated and user-friendly devices for remote patient monitoring. Wearable sensors, home-based monitoring equipment, and IoT devices have become more affordable, accessible, and capable of collecting and transmitting accurate health data. These devices enable patients to conveniently monitor their vital signs and health conditions from the comfort of their homes, while healthcare providers can remotely track and analyze the data.

By Condition

Based on Condition, the market has been divided into Congestive Heart Failure (CHF), Diabetes, Chronic Obstructive Pulmonary Disease (COPD), Blood Pressure, Mental Health, and Others. Congestive Heart Failure (CHF) dominates the Remote Patient Monitoring (RPM) Market. The adoption of RPM is driven by multiple factors, including the increasing prevalence of chronic diseases, the aging population, the need for proactive and preventive care, advancements in technology, and the growing acceptance of telehealth practices. These factors collectively contribute to the growth and prominence of the RPM market, rather than being solely dominated by one specific condition like CHF.

Global Remote Patient Monitoring (RPM) Market Regional Analysis

Based on region, the global Remote Patient Monitoring (RPM) market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Remote Patient Monitoring (RPM) market followed by the Asia-Pacific and Europe regions.

North America Market

North America has indeed maintained a dominant position in the Remote Patient Monitoring (RPM) market. This can be attributed to several factors, including the region’s advanced healthcare infrastructure, technological advancements, favorable reimbursement policies, and high adoption rates of digital health solutions. The presence of major RPM solution providers and a robust ecosystem of healthcare technology startups further contribute to North America’s leading position. Additionally, the region’s focus on chronic disease management, the aging population, and the increasing demand for remote healthcare services, particularly during the COVID-19 pandemic, have accelerated the adoption of RPM solutions. North American countries have also witnessed significant investments in research and development, fostering innovation and driving market growth. Overall, these factors have positioned North America as a leader in the RPM market, with a strong emphasis on improving patient outcomes and transforming healthcare delivery.

Asia-Pacific Market

The Asia-Pacific region has indeed emerged as a rapidly growing market for the Remote Patient Monitoring (RPM) industry. Several factors contribute to this growth, including the region’s large population, increasing prevalence of chronic diseases, improving healthcare infrastructure, and advancements in digital technology. The rising adoption of smartphones, wearable devices, and telecommunication networks has facilitated the expansion of RPM solutions in the Asia-Pacific region. Moreover, governments and healthcare authorities in countries like China, India, Japan, and South Korea are focusing on enhancing healthcare accessibility, promoting remote healthcare services, and implementing digital health initiatives, which further fuel the growth of the RPM market in the region. The Asia-Pacific market’s potential for innovation, untapped opportunities, and the growing recognition of the benefits of RPM in improving healthcare outcomes position the region as a significant player in the global RPM industry.

Competitive Landscape

The Global Remote Patient Monitoring (RPM) market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

  • Abbott Laboratories
  • Medtronic Plc
  • Johnson and Johnson
  • Aerotel Medical Systems (1988) Ltd.
  • General Electric Company
  • Boston Scientific Corporation
  • Nihon Kohden Corporation
  • Masimo Corporation
  • Omron Corporation
  • Biotronik SE & Co. KG

Key Development

In September 2022, Watertown Regional Medical Center (WRMC) initiated a remote care management program targeting patients with chronic conditions such as hypertension and heart failure. The program aimed to provide enhanced monitoring and support for these patients outside of traditional healthcare settings.

In February 2022, Healthnet Global, a subsidiary of Apollo Hospitals, unveiled Automaid, an intelligent automation system designed for in-patient rooms. This system enabled remote patient monitoring and triaging, empowering healthcare professionals to closely monitor patients’ conditions and make informed decisions based on real-time data.

Scope of the Report

Global Remote Patient Monitoring (RPM) Market, by Component

  • Devices
  • Software

Global Remote Patient Monitoring (RPM) Market, by Condition

  • Congestive Heart Failure (CHF)
  • Diabetes
  • Chronic Obstructive Pulmonary Disease (COPD)
  • Blood Pressure
  • Mental Health
  • Others

Global Remote Patient Monitoring (RPM) Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
    • Nordic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Indonesia
    • Austalia
    • Malaysia
    • India
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of Middle East & Africa

 

Parameters Indicators
Market Size 2033: $9.74 Billion
CAGR 16.34% CAGR (2023-2033)
Base year 2022
Forecast Period 2023-2033
Historical Data 2021
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations Component, Condition
Geographies Covered North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors Abbott Laboratories, Medtronic Plc, Johnson and Johnson, Aerotel Medical Systems (1988) Ltd., General Electric Company, Boston Scientific Corporation, Nihon Kohden Corporation, Masimo Corporation, Omron Corporation, Biotronik SE & Co. KG
Key Market Opportunities  
Key Market Drivers  

 

REPORT CONTENT BRIEF:

  • High-level analysis of the current and future Remote Patient Monitoring (RPM) market trends and opportunities
  • Detailed analysis of current market drivers, restraining factors, and opportunities in the future
  • Remote Patient Monitoring (RPM) market historical market size for the year 2021, and forecast from 2023 to 2033
  • Remote Patient Monitoring (RPM) market share analysis at each product level
  • Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
  • Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
  • To identify and understand the various factors involved in the global Remote Patient Monitoring (RPM) market affected by the pandemic
  • To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Frequently Asked Questions (FAQ)

1. What is the study period of this market?

  • The study period of the global Remote Patient Monitoring (RPM) market is 2021- 2033

2. What is the growth rate of the global Remote Patient Monitoring (RPM) market?

  • The Global Remote Patient Monitoring (RPM) market is growing at a CAGR of 16.34% over the next 10 years

3. Which region has the highest growth rate in the market of Remote Patient Monitoring (RPM)s?

  • Asia Pacific is expected to register the highest CAGR during 2023-2033

4. Which region has the largest share of the global Remote Patient Monitoring (RPM) market?

  • North America holds the largest share in 2022

5. Who are the key players in the global Remote Patient Monitoring (RPM) market?

  • Abbott Laboratories, Medtronic Plc, Johnson and Johnson, Aerotel Medical Systems (1988) Ltd., General Electric Company, Boston Scientific Corporation, Nihon Kohden Corporation, Masimo Corporation, Omron Corporation, Biotronik SE & Co. KG are the major companies operating in the market.

6. Do you offer Post Sale Support?

  • Yes, we offer 16 hours of analyst support to solve the queries

7. Do you sell particular sections of a report?

Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives.

For more details mail us at

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Table of Content

Table of Content

Chapter 1.   Executive Summary

Chapter 2.   Scope Of The Study

                     2.1.   Market Definition

                     2.2.   Scope Of The Study

                               2.2.1.   Objectives of Report

                               2.2.2.   Limitations

                     2.3.   Market Structure

Chapter 3.   Evolve BI Methodology

Chapter 4.   Market Insights and Trends

                     4.1.   Supply/ Value Chain Analysis

                               4.1.1.   Raw Material Providers

                               4.1.2.   Manufacturing Process

                               4.1.3.   Distributors/Retailers

                               4.1.4.   End-Use Industry

                     4.2.   Porter’s Five Forces Analysis

                               4.2.1.   Threat Of New Entrants

                               4.2.2.   Bargaining Power Of Buyers

                               4.2.3.   Bargaining Power Of Suppliers

                               4.2.4.   Threat Of Substitutes

                               4.2.5.   Industry Rivalry

                     4.3.   Impact Of COVID-19 on the Remote Patient Monitoring (RPM) Market

                               4.3.1.   Impact on Market Size

                               4.3.2.   End-Use Industry Trend, Preferences, and Budget Impact

                               4.3.3.   Regulatory Framework/Government Policies

                               4.3.4.   Key Players' Strategy to Tackle Negative Impact

                               4.3.5.   Opportunity Window

                     4.4.   Technology Overview

                     12.28.   Macro factor

                     4.6.   Micro Factor

                        4.7.   Demand Supply Gap Analysis of the Remote Patient Monitoring (RPM) Market

                        4.8.   Import Analysis of the Remote Patient Monitoring (RPM) Market

                        4.9.   Export Analysis of the Remote Patient Monitoring (RPM) Market

Chapter 5.   Market Dynamics

                     5.1.   Introduction

                     5.2.   DROC Analysis

                               5.2.1.   Drivers

                               5.2.2.   Restraints

                               5.2.3.   Opportunities

                               5.2.4.   Challenges

                     5.3.   Patent Analysis

                     5.4.   Industry Roadmap

                     5.5.   Parent/Peer Market Analysis

Chapter 6.   Global Remote Patient Monitoring (RPM) Market, By Component               

                     6.1.   Introduction

                     6.2.   Devices

                     6.3.   Software

Chapter 7.   Global Remote Patient Monitoring (RPM) Market, By Condition

                     7.1.   Introduction

                     7.2.   Congestive Heart Failure (CHF)

                     7.3.   Diabetes

                     7.4.   Chronic Obstructive Pulmonary Disease (COPD)

                     7.5.   Blood Pressure

                     7.6.   Mental Health

                     7.7.   Others

Chapter 8.   Global Remote Patient Monitoring (RPM) Market, By Region

                     8.1.   Introduction

                     8.2.   North America

                               8.2.1.   Introduction

                               8.2.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                               8.2.3.   Market Size and Forecast, By Country, 2023-2033

                               8.2.4.   Market Size and Forecast, By Component, 2023-2033

                               8.2.5.   Market Size and Forecast, By Condition, 2023-2033

                               8.2.6.   US

                                              8.2.6.1.   Introduction

                                              8.2.6.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.2.6.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.2.6.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.2.7.   Canada

                                              8.2.7.1.   Introduction

                                              8.2.7.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.2.7.4.   Market Size and Forecast, By Component, 2023-2033

                                              8.2.7.5.   Market Size and Forecast, By Condition, 2023-2033

                     8.3.   Europe

                               8.3.1.   Introduction

                               8.3.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                               8.3.3.   Market Size and Forecast, By Country, 2023-2033

                               8.3.4.   Market Size and Forecast, By Component, 2023-2033

                               8.3.5.   Market Size and Forecast, By Condition, 2023-2033

                               8.3.6.   Germany

                                              8.3.6.1.   Introduction

                                              8.3.6.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.3.6.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.3.6.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.3.7.   France

                                              8.3.7.1.   Introduction

                                              8.3.7.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.3.7.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.3.7.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.3.8.   UK

                                              8.3.8.1.   Introduction

                                              8.3.8.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.3.8.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.3.8.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.3.9.   Italy

                                              8.3.9.1.   Introduction

                                              8.3.9.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.3.9.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.3.9.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.3.11.   Rest Of Europe

                                              8.3.11.1.   Introduction

                                              8.3.11.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.3.11.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.3.11.4.   Market Size and Forecast, By Condition, 2023-2033

                     8.4.   Asia-Pacific

                               8.4.1.   Introduction

                               8.4.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                               8.4.3.   Market Size and Forecast, By Country, 2023-2033

                               8.4.4.   Market Size and Forecast, By Component, 2023-2033

                               8.12.28.   Market Size and Forecast, By Condition, 2023-2033

                               8.4.6.   China

                                              8.4.6.1.   Introduction

                                              8.4.6.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.4.6.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.4.6.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.4.7.   India

                                              8.4.7.1.   Introduction

                                              8.4.7.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.4.7.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.4.7.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.4.8.   Japan

                                              8.4.8.1.   Introduction

                                              8.4.8.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.4.8.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.4.8.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.4.9.   South Korea

                                              8.4.9.1.   Introduction

                                              8.4.9.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.4.9.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.4.9.4.   Market Size and Forecast, By Condition, 2023-2033

                               8.4.10.   Rest Of Asia-Pacific

                                              8.4.10.1.   Introduction

                                              8.4.10.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                                              8.4.10.3.   Market Size and Forecast, By Component, 2023-2033

                                              8.4.10.4.   Market Size and Forecast, By Condition, 2023-2033

                     8.5.   Rest Of The World (RoW)

                               8.5.1.   Introduction

                               8.5.2.   Driving Factors, Opportunity Analyzed, and Key Trends

                               8.5.3.   Market Size and Forecast, By Component, 2023-2033

                               8.5.4.   Market Size and Forecast, By Condition, 2023-2033

Chapter 9.   Company Landscape

                     9.1.   Introduction

                     9.2.   Vendor Share Analysis

                     9.3.   Key Development Analysis

                     9.4.   Competitor Dashboard

Chapter 10.   Company Profiles

                     10.1.   Abbott Laboratories

                               10.1.1.   Business Overview

                               10.1.2.   Government & Defense Analysis

                                              10.1.2.1.   Government & Defense – Existing/Funding

                               10.1.3.   Product Portfolio

                               10.1.4.   Recent Development and Strategies Adopted

                               10.1.5.   SWOT Analysis

                     10.2.   Medtronic

                               10.2.1.   Business Overview

                               10.2.2.   Government & Defense Analysis

                                              10.2.2.1.   Government & Defense – Existing/Funding

                               10.2.3.   Product Portfolio

                               10.2.4.   Recent Development and Strategies Adopted

                               10.2.5.   SWOT Analysis

                     10.3.   Johnson and Johnson

                               10.3.1.   Business Overview

                               10.3.2.   Government & Defense Analysis

                                              10.3.2.1.   Government & Defense – Existing/Funding

                               10.3.3.   Product Portfolio

                               10.3.4.   Recent Development and Strategies Adopted

                               10.3.5.   SWOT Analysis

                     10.4.   Aerotel Medical Systems (1988) Ltd.

                               10.4.1.   Business Overview

                               10.4.2.   Government & Defense Analysis

                                              10.4.2.1.   Government & Defense – Existing/Funding

                               10.4.3.   Product Portfolio

                               10.4.4.   Recent Development and Strategies Adopted

                               10.12.28.   SWOT Analysis

                     10.5.   General Electric Company

                               10.5.1.   Business Overview

                               10.5.2.   Government & Defense Analysis

                                              10.5.2.1.   Government & Defense – Existing/Funding

                               10.5.3.   Product Portfolio

                               10.5.4.   Recent Development and Strategies Adopted

                               10.5.5.   SWOT Analysis

                     10.6.   Boston Scientific Corporation

                               10.6.1.   Business Overview

                               10.6.2.   Government & Defense Analysis

                                              10.6.2.1.   Government & Defense – Existing/Funding

                               10.6.3.   Product Portfolio

                               10.6.4.   Recent Development and Strategies Adopted

                               10.6.5.   SWOT Analysis

                     10.7.   Nihon Kohden Corporation

                               10.7.1.   Business Overview

                               10.7.2.   Government & Defense Analysis

                                              10.7.2.1.   Government & Defense – Existing/Funding

                               10.7.3.   Product Portfolio

                               10.7.4.   Recent Development and Strategies Adopted

                               10.7.5.   SWOT Analysis

                     10.8  Masimo Corporation

                               10.8.1.   Business Overview

                               10.8.2.   Government & Defense Analysis

                                              10.8.2.1.   Government & Defense – Existing/Funding

                               10.8.3.   Product Portfolio

                               10.8.4.   Recent Development and Strategies Adopted

                               10.8.5.   SWOT Analysis

                     10.9   Omron Corporation

                               10.9.1.   Business Overview

                               10.9.2.   Government & Defense Analysis

                                              10.9.2.1.   Government & Defense – Existing/Funding

                               10.9.3.   Product Portfolio

                               10.9.4.   Recent Development and Strategies Adopted

                               10.9.5.   SWOT Analysis

                     10.10.   Biotronik SE & Co. KG

                               10.10.1.   Business Overview

                               10.10.2.   Government & Defense Analysis

                                              10.10.2.1.   Government & Defense – Existing/Funding

                               10.10.3.   Product Portfolio

                               10.10.4.   Recent Development and Strategies Adopted

                               10.10.5.   SWOT Analysis

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