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Report Scope & Overview:

The Remote Patient Monitoring (RPM) Market Size was valued at USD 51.4 billion in 2022, and is expected to reach USD 354.49 billion by 2030 and grow at a CAGR of 27.3% over the forecast period 2023-2030.

Remote patient monitoring (RPM) is a type of homecare telehealth which allows people to collect and communicate patient-generated health data (PGHD) to healthcare experts via mobile medical equipment and technology. Vital signs, weight, blood pressure, and heart rate are just a few of the physiological data that RPM programmes can collect. Patient information is collected and transferred to a doctor's office via a telehealth computer system or software application that can be placed on a computer, smartphone, or tablet. RPM is normally used to help patients who require long haul, post-release, or geriatric consideration. It can inform healthcare companies of potential health risks or keep track of patient data between visits by linking high-risk patients with remote monitoring. Furthermore, organisations who want to track workmen's compensation cases could utilised RPM to ensure that employees are on the right track to return to work.

Remote Patient Monitoring (RPM) Market Revenue Analysis

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MARKET DYNAMICS

DRIVERS

  • Increasing senior population necessitates expanding healthcare access.

  • The need for home-based monitoring devices is increasing.

  • Advancement of technology

RESTRAINTS

  • Professionals in the healthcare field are resisting.

  • Regulatory Environment that Is tough.

  • Reimbursement that isn't up to the mark.

OPPORTUNITIES

  • RPM has a wide range of applications in the fight against infectious illnesses and epidemics.

CHALLENGES

  • Behavioral hurdles, healthcare accessibility, and unawareness are all issues that need to be addressed.

IMPACT OF COVID-19

The COVID-19 episode essentially affects the growth elements of different on the medical services ventures owed to its immense monetary effect on significant nations of the globe. As of 31st December 2021, 290 million cases have been accounted for around the world, with 5,419,881 passings (Worldometer). There has been a lift in adoption distant patient checking administrations during the COVID-19 pandemic. This positive effect is supposed to follow all through the figure period. Different new businesses immediately jumping all over the chance to satisfy the need hole of the medical care suppliers attempting to screen patients from a distance. In accordance with this, distant patient observing addresses an alluring, viable, and reasonable choice. Additionally, this innovation is of basic significance in protecting medical services suppliers.

Segmentation Analysis of By End Use

The clinic-based patient portion was the main end-use section in 2021 and represented 79.4% of the income share. Emergency clinics take special care of an enormous number of short-term patients as well as inpatients. They offer an enormous number of demonstrative tests and have a bigger specialized staff for taking care of the necessities of the patients. An enormous patient pool and a rising number of tests being performed are the indispensable drivers for portion development. Clinic patients are owned up to offices needing intense consideration and subsequently keeping a consistent beware of the imperative boundaries of patients is crucial. Nonetheless, the significant expense of medical clinic confirmations and dreary repayment techniques are supposed to limit the market development.

KEY MARKET SEGMENTATION:

By Component:

  • Services & Software

  • Devices 

    • Cardiac Monitoring Devices

    • Neurological Monitoring Devices

    • Respiratory Monitoring Devices

    • Blood Glucose Monitoring Devices

    • Weight Monitoring Devices

    • Multiparameter Monitoring Devices

    • Fetal &Neonatal Monitoring Devices

    • Others

By End-Use:

  • Providers

    • Hospitals & Clinics

    • Passive Exoskeletons

    • Ambulatory Care Centers

    • Home Care Settings & Long-term Care Centers

    • Others

  • Payers

  • Patients

  • Other End-Users

Remote Patient Monitoring (RPM) Market Segmentation Analysis

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REGIONAL ANALYSIS

The central point driving the far off persistent observing business sector size development incorporate the developing weight of ongoing infections, expanding geriatric populace, interest for remote and versatile frameworks, and the presence of a modern repayment structure.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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 PLAYERS:

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.

Koninklijke Philips N.V-Company Financial Analysis

Remote Patient Monitoring (RPM) Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 51.4 Billion
Market Size by 2030 US$ 354.47 Billion
CAGR CAGR of 27.3% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments
  • By Component (Services & Software, Devices (Cardiac Monitoring Devices, Neurological Monitoring Devices, Respiratory Monitoring Devices, Blood Glucose Monitoring Devices, Weight Monitoring Device, Multiparameter Monitoring Devices, Fetal &Neonatal Monitoring Devices, Others)
  • By End-Use (Providers (Hospitals & Clinics, Passive Exoskeletons, Ambulatory Care Centers, Home Care Settings & Long-term Care Centers, Others), Payers, Patients, Other End-User)
Regional Analysis/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)
Company Profiles 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.
DRIVERS • Increasing senior population necessitates expanding healthcare access.
• The need for home-based monitoring devices is increasing.
• Advancement of technology
RESTRAINTS • Professionals in the healthcare field are resisting.
• Regulatory Environment That Is Tough
• Reimbursement that isn't up to par

Frequently Asked Questions

Ans: The Remote Patient Monitoring (RPM) Market is to grow at a CAGR of 27.3% over the forecast period 2023-2030.

The challenges faced by Remote Patient Monitoring (RPM) is Behavioral hurdles, healthcare accessibility, and unawareness are all issues that need to be addressed.

The by Application is divided into ten sub segments is Bronchitis Cancer, Diabetes, Cardiovascular Diseases, Infections, Dehydration, Sleep Disorder, Weight management and Fitness Monitoring, Hypertension, and Virus.

Remote Patient Monitoring industry, North America overwhelmed the worldwide market.

Ans: The Remote Patient Monitoring (RPM) Market size is estimated to reach US$ 27.3% over the forecast period 2023-2030.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

  

8. Remote Patient Monitoring (RPM) Market Segment, By Component

8.1 Services & Software

8.2 Devices 

8.2.1 Cardiac Monitoring Devices

8.2.2 Neurological Monitoring Devices

8.2.3 Respiratory Monitoring Devices

8.2.4 Blood Glucose Monitoring Devices

8.2.5 Weight Monitoring Devices

8.2.6 Multiparameter Monitoring Devices

8.2.7 Fetal &Neonatal Monitoring Devices

8.2.8 Others

9. Remote Patient Monitoring (RPM) Market Segment, By End-Use

9.1 Providers

9.1.1 Hospitals & Clinics

9.1.2 Passive Exoskeletons

9.1.3 Ambulatory Care Centers

9.1.4 Home Care Settings & Long-term Care Centers

9.1.5 Others

9.2 Payers

9.3 Patients

9.4 Other End-Users

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

11. Company Profiles

11.1 Abbott

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Boston Scientific Corporation

11.3 F. Hoffmann-La Roche Ltd

11.4 Koninklijke Philips N.V.

11.5 Nihon Kohden Corporation

11.6 Omron Corporation

11.7 Smiths Medical

11.8 OSI Systems, Inc.

11.9 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

11.10 Welch Allyn

12. Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share Analysis

12.3 Recent Developments

13. Conclusion

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Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

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Primary Research

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Data Bank Validation

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