Global Remote Patient Monitoring Market Set for Significant Growth, Projected to Reach US$

Global Remote Patient Monitoring Market

Dublin, May 16, 2024 (GLOBE NEWSWIRE) — The “Global Remote Patient Monitoring Market Report by Device Type, Application, End-Use, and Region 2024-2032” report has been added to ResearchAndMarkets.com’s offering.

The global remote patient monitoring (RPM) market is experiencing a major surge, with projections indicating a climb to US$ 4.7 billion by the year 2032 from US$ 1.5 billion in 2023. Experts attribute this robust growth, with a calculated CAGR of 13.53% over the period 2023-2032, to several factors including the increasing incidence of chronic diseases and advancements in digital technology.

The significant expansion of the RPM market is largely driven by the rising demand for accessible healthcare, particularly for chronic disease management and elderly care. The growing shortage of healthcare professionals, especially in remote areas, is leading to the adoption of RPM as an efficient alternative to conventional healthcare delivery. Additionally, improvements in high-speed internet connectivity and the proliferation of smart devices are facilitating the widespread adoption of RPM solutions globally.

Segment Highlight: Device Type and Applications

Among the different types of devices, heart rate monitors are currently dominating the market. These devices provide crucial real-time data that is core to managing various healthcare conditions. When analyzing the applications, the market is significantly led by the cardiovascular diseases treatment and monitoring segment. This points towards the crucial role of RPM technologies in the management of conditions such as heart failure, hypertension, and arrhythmias.

Regional Insights

The North American market is at the forefront of the RPM industry, holding the largest market share. This dominance is related to the aging population’s increasing healthcare needs, paired with advancements in technology and greater health awareness among the general population. Asia Pacific is also expected to experience stable growth due to rapid technological integrations and enhanced internet connectivity.

Competitive Landscape

Key industry players are constantly innovating and integrating cutting-edge technologies like AI, machine learning, and IoT, to provide comprehensive health monitoring solutions. These technologies not only enable precise data analysis but also ensure the security and integrity of patient data.

Future Outlook

The global RPM market shows no signs of slowing down, with technological advancements and regulatory support continuously shaping its growth. As societies worldwide gravitate more toward patient-centric and accessible healthcare solutions, remote patient monitoring stands out as a significant enabler for the future of healthcare services.

Key Attributes:

Story continues

Companies Featured

• Abbott Laboratories

• AMD Global Telemedicine Inc.

• BIOTRONIK SE & Co. KG

• Boston Scientific Corporation

• Dexcom Inc.

• GE Healthcare Inc. (Danaher Corporation)

• Honeywell International Inc.

• Koninklijke Philips N.V.

• Medtronic Inc.

• Nihon Kohden Corporation

• OSI Systems Inc.

• Roche Holding AG

For more information about this report visit https://www.researchandmarkets.com/r/58ul8t

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900