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  • Remote Patient Monitoring Market Forecast | 2022-2028

    Remote Patient Monitoring Market Forecast | 2022-2028

    Remote Patient Monitoring Market Forecast | 2022-2028
    Report code - SR1019 Delivery - 2 Weeks
    Global Remote Patient Monitoring Market Size, Share, Growth, Industry & Forecast : 202 See more...

    Market Insights

    The Global Remote Patient Monitoring Market is estimated to grow from USD 52.9 billion in 2022 to USD 229.4 billion by 2028 at a healthy CAGR of 27.7% during the forecast period of 2022-2028.

    Remote-Patiet-Monitor-Market-Size

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    What is remote patient monitoring?

    Remote patient monitoring is a healthcare method that involves the usage of technology to gather patient data outside healthcare facilities. It helps to collect patients' medical data 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 a hospital to a home or a care facility and thus, helps to reduce readmission rates.

    Remote Patient Monitoring Market Report Overview

    Market Size in 2028

    USD 229.4 Billion

    Market Size in 2022

    USD 52.9 Billion

    CAGR (2022-2028)

    27.7%

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

    Key Players

    Key players operating in the global market are-

    Market Drivers

    The global market growth is primarily driven by the rapid urge in several hospitals to use telehealth to provide healthcare services remotely.

    • Remote patient monitoring helps to reduce healthcare costs and reduce the burden on medical resources.
    • Additionally, the rising prevalence of chronic diseases among consumers such as cancer, cardiovascular diseases, bronchitis, and diabetes coupled with the expanding geriatric populace is expected to drive the market growth at a significant rate during the review period.
    • Furthermore, increasing demand for technologically advanced solutions in the healthcare industry to treat infectious diseases is projected to create substantial growth opportunities for the market players.

    Remote-Patiet-Monitor-Market-Snapshot

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    Segments Analysis

    By End User Type

    The Hospital-Based Patient segment accounted for a substantial market share in 2022.

    The market has been divided into hospital-based patients, ambulatory patients, and home healthcare. The segment growth can be attributed to the prevalence of a large number of patients in the hospitals.

    The home healthcare segment is projected to register the fastest CAGR due to the increasing number of people interacting with the doctors at home coupled with convenience, availability of skilled staff, and cost efficiency.

    By Regional

    North America accounted for the largest market share in 2022 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.

    Remote-Patiet-Monitor-Market-Region

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    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.

    Segmentation

    This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories.

    By Product 

    • Software & Services
    • Devices

    By Application 

    • Cancer
    • Cardiovascular Diseases
    • Bronchitis
    • Diabetes
    • Infections
    • Others

    By End-User

    • Hospital Based Patients
    • Ambulatory Patients
    • Home Healthcare

    By Region

    • North America
    • Europe
    • Asia-Pacifi
    • Rest of the World

    COVID-19 Impact

    The covid-19 outbreak impacted the growth of the 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 patients to be able to consult healthcare providers online.

    Critical Questions answered in the report –

    • What are the key trends in the global Remote Patient Monitoring market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global market?
    • What are the key strategies adopted by the major vendors to lead in the global market?
    • What is the market share of the top vendors?

    Report Features

    This report provides intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players and those willing to enter the market.

    What Deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Remote Patient Monitoring Market 

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and what is their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Target Audience

    Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

    • Remote patient monitoring distributors
    • Remote patient monitoring suppliers
    • Remote patient monitoring manufacturers
    • Logistics organizations
    • Government bodies

    Research Methodology

    This report offers high-quality insights and results from a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Remote patient monitoring market is estimated to grow from USD 52.9 Bn in 2022 to USD 229.4 Bn by 2028.

    Remote Patient Monitoring is a healthcare method that involves the usage of technology to gather patient data outside healthcare facilities. It helps to collect the 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 a hospital to a home or a care facility and thus, helps to reduce readmission rates.

    The market is expected to grow at a CAGR of 22.7% during the forecast period.

    Key players operating in the market are- 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).

    North America accounted for the largest market share and is likely to grow at a robust CAGR during the forecast period.

    The global market growth is primarily driven by the rapid urge in several hospitals to use telehealth to provide healthcare services remotely. Remote patient monitoring helps to reduce healthcare costs and reduce the burden on medical resources. Additionally, the rising prevalence of chronic diseases among consumers such as cancer, cardiovascular diseases, bronchitis, and diabetes coupled with expanding geriatric populace is expected to drive the market growth at a significant rate during the review period. Furthermore, increasing demand for technologically advanced solutions in the healthcare industry to treat infectious diseases is projected to create substantial growth opportunities for the market players.