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.
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Increasing senior population necessitates expanding healthcare access.
The need for home-based monitoring devices is increasing.
Advancement of technology
Professionals in the healthcare field are resisting.
Regulatory Environment that Is tough.
Reimbursement that isn't up to the mark.
RPM has a wide range of applications in the fight against infectious illnesses and epidemics.
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:
Services & Software
Neurological Monitoring Devices
Respiratory Monitoring Devices
Blood Glucose Monitoring Devices
Weight Monitoring Devices
Multiparameter Monitoring Devices
Fetal &Neonatal Monitoring Devices
Hospitals & Clinics
Ambulatory Care Centers
Home Care Settings & Long-term Care Centers
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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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
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
|Market Size in 2022
|US$ 51.4 Billion
|Market Size by 2030
|US$ 354.47 Billion
|CAGR of 27.3% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|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)
|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.
|• Increasing senior population necessitates expanding healthcare access.
• The need for home-based monitoring devices is increasing.
• Advancement of technology
|• Professionals in the healthcare field are resisting.
• Regulatory Environment That Is Tough
• Reimbursement that isn't up to par
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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 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
8.2.1 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
9. Remote Patient Monitoring (RPM) Market Segment, By End-Use
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
9.4 Other End-Users
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profiles
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
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