Pune, May 09, 2023 (GLOBE NEWSWIRE) -- “The Remote Patient Monitoring (RPM) Market had a worth of USD 51.4 billion in 2022 and is projected to attain USD 354.49 billion by 2030, with a compound annual growth rate (CAGR) of 27.3% during the forecast period from 2023 to 2030, as per SNS Insider.”
Market Overview:
Remote Patient Monitoring (RPM) refers to a technology-enabled approach that allows healthcare providers to monitor patients' health remotely, without the need for them to be physically present in a medical facility. RPM systems typically include a set of medical devices, such as sensors and wearables, that collect patient health data and transmit it to healthcare providers in real-time. This enables healthcare providers to keep track of patients' health status, detect any warning signs of deteriorating health, and provide timely interventions, all from a remote location.
Market Analysis
In recent years, the remote patient monitoring (RPM) market has been growing rapidly due to the increasing demand for better patient care and the rising cost of traditional healthcare. RPM is a type of telemedicine that utilizes various technological tools to monitor patients remotely. This technology enables healthcare professionals to monitor their patients' health in real-time, without the need for in-person visits, thereby improving patient outcomes and reducing healthcare costs. RPM is a crucial technology that enables healthcare providers to monitor and manage the health of patients with chronic conditions such as heart disease, diabetes, and hypertension, among others.
Get a Sample Report of Remote Patient Monitoring (RPM) Market@ https://www.snsinsider.com/sample-request/1788
Key Company Profiles Listed in this Report Are:
Some of the major key players are as follows: Abbott, Boston Scientific Corporation, F. Hoffmann-La Roche Ltd, Koninklijke Philips N.V., Nihon Kohden Corporation, Omron Corporation, Smiths Medical, OSI Systems, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Welch Allyn, and other players.
Impact of Recession on Remote Patient Monitoring (RPM) Market Growth
While the recession has created some challenges for the remote patient monitoring (RPM) market, the increasing demand for remote healthcare services and the growing importance of telemedicine are expected to continue to drive the growth of the RPM market in the coming years.
Remote Patient Monitoring (RPM) Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 51.4 Billion |
| Market Size by 2030 | US$ 354.49 Billion |
| CAGR | CAGR of 27.3% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segmentation |
|
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The global remote patient monitoring (RPM) market has seen significant growth, with North America emerging as the dominant region. This can be attributed to several factors, including a rise in chronic diseases, the need for wireless and portable systems, and the presence of advanced reimbursement structures that aim to reduce out-of-pocket expenses for patients. As a result, the North American market is expected to continue its upward trajectory. Meanwhile, Europe, particularly Western European countries, is predicted to maintain its position as the second-largest revenue-generating region in the RPM market. This is due to factors such as a growing aging population, rising healthcare expenditure, and increasing awareness of the benefits of remote patient monitoring.
Do you have any specific query related to Remote Patient Monitoring (RPM) Market study? Ask Your Query@ https://www.snsinsider.com/enquiry/1788
Key Takeaway from Remote Patient Monitoring (RPM) Market Study
- The market is set to experience a surge in growth, with the ambulatory patient segment leading the charge. This segment is expected to play a vital role in the adoption of RPM technology as patients seek to take greater control over their healthcare and manage their conditions from the comfort of their own homes.
- The market is expected to witness significant growth in the coming years, with the Vital Sign Monitors segment set to dominate the market. Vital sign monitors are a crucial component of remote patient monitoring, allowing healthcare providers to track patients' vital signs, such as blood pressure, heart rate, and respiratory rate, in real-time.
Recent Developments Related to Remote Patient Monitoring (RPM) Market
- New Jersey Cancer Care, a leading healthcare provider, has recently announced the launch of its remote patient monitoring (RPM) program. The program aims to enhance the quality of care for cancer patients by providing remote monitoring services that allow healthcare providers to track patients' health status in real-time.
- Cadence and Ardent Health Services, two leading healthcare organizations, have collaborated to launch a remote care management program aimed at improving patient care and outcomes. The program utilizes remote patient monitoring (RPM) technology to enable healthcare providers to track patients' health status in real-time and provide timely interventions.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Remote Patient Monitoring (RPM) Market Segment, By Component
9. Remote Patient Monitoring (RPM) Market Segment, By End-Use
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion
Buy Single-User PDF of Remote Patient Monitoring (RPM) Market Report@ https://www.snsinsider.com/checkout/1788
[For more information or any customization related to this research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Access Complete Report Details@ https://www.snsinsider.com/reports/remote-patient-monitoring-rpm-market-1788
