About Remote patient monitoring-
Remote patient monitoring is a type of telehealth in that healthcare providers monitor patients outside the traditional care setting using digital medical devices, such as weight scales, blood pressure monitors, pulse oximeters, and blood glucose meters. They are used to measure symptoms of chronic conditions, such as cardiac diseases, diabetes, and asthma, to ensure a high level of quality patient care. RPM allows you to better monitor or manage an acute or chronic health condition from a distance over time. The continuous evolution of technology, including wearable devices, sensors, and mobile health applications, has significantly contributed to the growth of the RPM market. Improved device capabilities and data analytics have enhanced the accuracy and reliability of remote monitoring.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is highly competitive with the active presence of dominant players Companies may focus on expanding their market presence globally, targeting emerging economies with growing healthcare needs. Consolidation through acquisitions and mergers to strengthen product portfolios and expand market reach. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Teladoc Health, Inc. (United States), Medtronic Plc (Ireland), GE Healthcare (United States), Siemens Healthineers (Germany), GYANT (United States), Huma (United Kingdom), Ejenta (United States), Neteera Technologies (Israel), Vitals (United States), MedTech Innovator (Singapoore), iHealth Labs Inc (United States), Binah.ai (Israel), Optimize Systems Inc (United States) and Pattern Health Technologies, Inc (United States are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Remote patient monitoring- market by and Region.
On the basis of geography, the market of Remote patient monitoring- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Service (Cardiovascular Diseases Treatment, Diabetes and Hypertension management will boost the Remote patient monitoring- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End users, the sub-segment i.e. Home Healthcare will boost the Remote patient monitoring- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of telehealth, chronic, and acute monitoring and Continued growth of Hospital-at-Home (HaH) initiatives
Market Growth Drivers:
The rising incidence of chronic diseases, such as diabetes, cardiovascular diseases, and respiratory conditions and Availability of Wireless Monitoring Devices
Challenges:
The lack of coverage of services and Lower reimbursement rates disincentivize organizations from expanding and implementing programs due to upfront costs.
Restraints:
Lack of Privacy and Security of Data and Intricate landscape of reimbursement and regulatory considerations
Opportunities:
Government initiatives and favourable reimbursement policies were supporting the growth of remote patient monitoring and Implement remote monitoring to improve patient outcomes and reduce healthcare costs.
Market Leaders and their expansionary development strategies
In February 2021, Royal Philips, a global leader in health technology, today announced that it has completed the acquisition of BioTelemetry, Inc. a leading U.S.-based provider of remote cardiac diagnostics and monitoring. The acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated solutions.
In August 2022, Medtronic plc, a global leader in healthcare technology, announced partnership with BioIntelliSense, a continuous health monitoring and clinical intelligence company. The partnership enables the Medtronic Patient Monitoring business to offer access to a medical grade device that provides continuous vital sign measurements of general care patients in-hospital as well as post-discharge. and In June 2022, GE Healthcare introduced of its newest remote patient monitoring (RPM) technology, Portrait Mobile, which uses wearable wireless sensors to help clinicians detect patient deterioration earlier than traditional methods. Using RPM technology for early detection of patient deterioration may reduce length of stay and intensive care unit (ICU) admissions and improve patient outcomes, GE Healthcare stated.
Key Target Audience
supplier, Research Organization, Goverment Regulatory, End users’ industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.