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Remote Patient Monitoring (RPM) Market

Remote Patient Monitoring (RPM) Market Size, Share & Segment 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), and by Regions | Global Market Forecast 2022-2028

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.

Remote Patient Monitoring (RPM) Market

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 par

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.

By Product

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.

By Application

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.

COMPETITIVE LANDSCAPE

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.

MARKET SEGMENTATION:

By Product

  • Vital Sign Monitors

    • Pulse Oximeters

    • Blood Pressure Monitors

    • Temperature Monitor

    • Heart Rate Monitor (ECG)

    • Respiratory Rate Monitor

    • Brain Monitoring (EEG)

  • Special Monitors

    • Anesthesia Monitors

    • Fetal Heart Monitors

    • Cardiac Rhythm Monitor

    • Blood Glucose Monitors

    • Prothrombin Monitors

    • Respiratory Monitor

    • Multi-Parameter Monitors

    • Others

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

Remote Patient Monitoring (RPM) Market

REGIONAL ANALYSIS

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.

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

Remote Patient Monitoring (RPM) Market Report Scope:
Report Attributes Details
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
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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. 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 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

8.2.8 Others

 

9. Remote Patient Monitoring (RPM) Market Segmentation, By Application

9.1 Bronchitis

9.2 Cancer

9.3 Diabetes

9.4 Cardiovascular Diseases

9.5 Infections

9.6 Dehydration

9.7 Sleep Disorder

9.8 Weight management and Fitness Monitoring

9.9 Hypertension

9.10 Virus

 

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

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12 Company Profiles

12.1 Abbott

12.1.1 Financial

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

 

14 Conclusion

 

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