Chicago, April 14, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the remote patient monitoring market is driven by the increasing role of IoT and the paradigm shift toward home-based healthcare devices.
The present scenario of the remote patient monitoring market and its market dynamics for 2022−2027 covers a detailed overview of several growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyses leading companies and several other prominent companies operating in the industry.
Remote Patient Monitoring Market Report Scope
| Report Attributes | Details | |
| MARKET SIZE (2021) | $30.5 Billion | |
| MARKET SIZE (2027) | $62 Billion | |
| CAGR (2022-2027) | 12.5% | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2027 | |
| LARGEST MARKET | North America | |
| SEGMENTATION ANALYSIS | Component, Application, End-User, and Geography | |
| GEOGRAPHIC ANALYSIS | North America (US, Canada), Europe (U.K, Germany, Italy, France, Spain), APAC (China, Japan, India, South Korea, Australia), Latin America (Brazil, Mexico, Argentina) & MEA (Turkey, Saudi Arabia, South Africa) | |
| KEY VENDORS | Medtronic, Philips Healthcare, and ResMed | |
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Remote patient monitoring devices use digital technology to communicate between patients and physicians. Communication between the patient and the healthcare is crucial in the healing and recovery process. The use of remote patient monitoring equipment contributes to developing trust and transparency. They give users a better understanding of diseases and treatments, allowing them to take more control over their treatment regimens. Healthcare professionals and owners are developing a higher emphasis on prevention and wellness, which gives attractive prospects for key companies to grow their share in the global Remote patient monitoring devices market.
Telemedicine to Fuel Remote Patient Monitoring Market
One of the most effective applications of remote patient monitoring is telemedicine. Remote monitoring systems, such as home healthcare monitoring devices, contribute to the growing use of telemedicine and are a necessity in the COVID-19 pandemic. Smart home monitoring tools such as OMRON Blood Pressure Monitors play an important role in remote patient monitoring. They allow a patient to accurately measure their blood pressure and upload the data to the cloud using the OMRON Connect app.
An effective telemedicine environment establishes a sophisticated, AI-based, real-time interaction between patients, doctors, and home monitoring equipment based entirely on remote monitoring phenomena. OMRON has recently collaborated with the artificial intelligence (AI) enabled healthcare management player Phable Care and has established India's first and largest virtual hypertension management service.
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Market Segmentation
- COMPONENT: Cardiac Monitoring Devices, Respiratory Monitoring Devices, Blood Glucose Monitors, Fetal & Neonatal Monitoring Devices, Other Rpm
- APPLICATION: Cardiology, Endocrinology, Pulmonology, Others
- END-USER: Hospitals & Specialty Clinics, Homecare Settings, Ambulatory Surgical Centers, Long-Term & Acute Care Centers, Other
- GEOGRAPHY: North America, Europe, APAC, Latin America & Middle East & Africa
The US Remote Patient Monitoring Market to Reach $23 Billion by 2027
The elevated demand for remote patient monitoring devices from hospitals & clinics and home healthcare in the US, the rise in the geriatric population, and the rising prevalence of cardiovascular disease in the country are contributing to the market's growth. The rising adoption of home-based care has fueled the market for remote patient monitoring equipment in the US. Vendors are increasing focus on enhancing technological devices to meet the needs due to the recent COVID-19 pandemic contributing to the current spike in sales of RPM devices.
Vendors in the US Remote Patient Monitoring Market
Key Vendors
- Medtronic
- Philips Healthcare
- ResMed
Other Prominent Vendors
- 100-Plus
- A&D Company
- Abbott
- AltumView Syste
- BIOTRONIK
- Boston Scientific
- Bardy Diagnostics
- Cardiomo Care
- Cardiologs
- Dragerwerk
- Hoffmann-La Roche
- GE Healthcare
- GrandCare Systems
- Honeywell International
- iHealthUnifiedcare
- Qardio
- MedM
- Masimo Corporation
- Medopad
- Nihon Kohden
- Omron Healthcare
- OSPLabs
- Resideo Technologies
- Smiths Medical
- Spacelabs Healthcare
- Senseonics
- TeleMedCare
- VitalConnect
- Vitls
- Modivcare
- Hill-Rom
- Vivify Health
- ACL Digital
- Dexcom
- iRhythm Technologies
- Vivalink
- Biobeat
- CareValidate
- Biofourmis
- CAREMINDr
- Datos Health
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Explore our healthcare lifesciences profile to know more about the industry.
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