Report Id: SNS/HC/1788 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Remote Patient Monitoring (RPM) Market Size was valued at USD 1.282 billion in 2021, and expected to reach USD 4.620 billion by 2028, and grow at a CAGR of 20.1% over the forecast period 2022-2028.
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.
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
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.
Due to its capacity to monitor clinically essential data pre- and post-surgery, recognize symptoms, and prevent complications, the special monitors segment led the market for remote patient monitoring systems in 2021, accounting for approximately 84.8 percent of sales. Advanced features like wireless connection and iPad connectivity provide early diagnostics and increased product applicability. ECG, body temperature, noninvasive blood pressure, respiration rate, and brain activity can all be monitored with vital sign monitors. The integration of many vital sign monitors into a single system is likely to increase the attractiveness of these devices, resulting in greater adoption throughout the projection period.
Diabetes was the most popular application segment in 2021, accounting for almost 11.8 percent of total revenue. Diabetes is one of the main causes of death, and it necessitates constant blood glucose monitoring. It has been displayed to change an assortment of substantial frameworks, including pulse, vision, liver capacity, and renal movement. Thus, consistent and routine observing is vital, which can be advantageously accomplished with the assistance of faroff tolerant checking gadgets. Diabetes influences 425 million individuals around the world, according to the International Diabetes Federation. By 2040, the populace is anticipated to arrive at 642 million. As the quantity of individuals with diabetes rises, hardware like the insulin implantation siphon become more valuable for the people who can self-regulate insulin consistently.
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.
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.
Vital Sign Monitors
Blood Pressure Monitors
Heart Rate Monitor (ECG)
Respiratory Rate Monitor
Brain Monitoring (EEG)
Fetal Heart Monitors
Cardiac Rhythm Monitor
Blood Glucose Monitors
Weight management and Fitness Monitoring
Hospital Based Patients
Remote Patient Monitoring industry, North America overwhelmed the worldwide market in 2021 with an income of $747.40 million. The central point driving the far off persistent observing business sector size development incorporate the developing weight of ongoing infections, expanding geriatric populace, interest for remote and versatile frameworks, and the presence of a modern repayment structure.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 1.282 Billion|
|Market Size by 2028||US$ 4.620 Billion|
|CAGR||CAGR of 20.1% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Vital Sign Monitors, Special Monitors)
• By Application (Bronchitis, Cancer, Diabetes, Cardiovascular Diseases, Infections, Dehydration, Sleep Disorder, Weight management and Fitness Monitoring, Hypertension, Virus)
• By End-use (Ambulatory Patients, Hospital Based Patients, Home Healthcare)
|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 (FAQ) :
Top-down, bottom-up, Quantitative, Qualitative Research, Descriptive, Analytical, Applied, Fundamental Research.
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.
Remote Patient Monitoring (RPM) Market is expected to reach USD 4.620 billion by 2028.
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 ware
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Remote Patient Monitoring (RPM) Market Segmentation, By Product
8.1 Vital Sign Monitors
8.1.1 Pulse Oximeters
8.1.2 Blood Pressure Monitors
8.1.3 Temperature Monitor
8.1.4 Heart Rate Monitor (ECG)
8.1.5 Respiratory Rate Monitor
8.1.6Brain Monitoring (EEG)
8.2 Special Monitors
8.2.1 Anesthesia Monitors
8.2.2 Fetal Heart Monitors
8.2.3 Cardiac Rhythm Monitor
8.2.4 Blood Glucose Monitors
8.2.5 Prothrombin Monitors
8.2.6 Respiratory Monitor
8.2.7 Multi-Parameter Monitors
9. Remote Patient Monitoring (RPM) Market Segmentation, By Application
9.4 Cardiovascular Diseases
9.7 Sleep Disorder
9.8 Weight management and Fitness Monitoring
10. Remote Patient Monitoring (RPM) Market Segmentation, By End-use
10.1 Ambulatory Patients
10.2 Hospital Based Patients
10.3 Home Healthcare
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12 Company Profiles
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Boston Scientific Corporation
12.3 F. Hoffmann-La Roche Ltd
12.4 Koninklijke Philips N.V.
12.5 Nihon Kohden Corporation
12.6 Omron Corporation
12.7 Smiths Medical
12.8 OSI Systems, Inc.
12.9 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
12.10 Welch Allyn.
13 Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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