Remote Patient Monitoring Market Report
The report on the Global Remote Patient Monitoring Market is segmented By Product (Software & Services, Devices), By Application (Cancer, Cardiovascular Diseases, Bronchitis, Diabetes, Infections, Others), By End-User (Hospital Based Patients, Ambulatory Patients, Home Healthcare), and Region. It also covers the COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Remote Patient Monitoring market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Global Remote Patient Monitoring Market is segmented By Product (Software & Services, Devices), By Application (Cancer, Cardiovascular Diseases, Bronchitis, Diabetes, Infections, Others), By End-User (Hospital Based Patients, Ambulatory Patients, Home Healthcare), and Region. ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Remote Patient Monitoring Market is estimated to grow from USD 23.1 billion in 2020 to USD 123.5 billion by 2026 at a healthy CAGR of 33.1% during the forecast period.
Remote Patient Monitoring is a healthcare method that involves the usage of technology to gather patient data outside healthcare facilities. It helps to collect medical data of patients from one place and transmit the healthcare provider at different locations electronically for assessment and recommendation. It allows the healthcare provider to track data of a patient discharged from hospital to home or a care facility and thus, helps to reduce readmission rates.
Key players operating in the global Remote Patient Monitoring market are-
The global market growth is primarily driven by rapid urge in number of hospitals using telehealth to provide healthcare services remotely.
Based on end user, the market has been divided into hospital-based patients, ambulatory patients, and home healthcare.
The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period due to the increasing prevalence of chronic diseases, expanding geriatric populace, and high demand for low-cost healthcare treatment.
The market in the Asia-Pacific region is projected to register a healthy growth rate on account of the rising number of people suffering from chronic diseases and the increasing adoption of digitally advanced solutions.
The covid-19 outbreak impacted the growth of the remote patient monitoring market positively as the visits to hospitals for medical consultation decreased due to fear of getting infected. The usage of remote patient monitoring made it easier for the patients to be able to consult the healthcare providers online.
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The remote patient monitoring market size is expected to reach USD 123.5 billion in the foreseeable future.
Abbott Laboratories (The U.S), Mindray Medical International Limited (China), Johnson & Johnson (The U.S), GE Healthcare (The U.S), Omron Corporation (Japan), Nihon Kohden Corporation (Japan), Honeywell Life Care Solutions (The U.S), Koninklijke Philips N.V. (Netherlands), OSI Systems, Inc. (The U.S), F. Hoffmann-La Roche AG (Switzerland), Smiths Medical, Inc. (The U.S) and Boston Scientific Corporation (The U.S) are among the key players in the remote patient monitoring market.
The remote patient monitoring market is expected to witness an impressive growth of 33.1% CAGR in the coming years.
North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period.
The home healthcare segment is expected to register the fastest CAGR in the remote patient monitoring market in the coming years.
Remote patient monitoring distributors, Remote patient monitoring suppliers, Remote patient monitoring manufacturers, Logistics organizations, Government bodies are the target audience in the remote patient monitoring market.