Remote Patient Monitoring Market, 44% of Growth to Originate from North America, Technavio

NEW YORK, June 3, 2024 /PRNewswire/ -- The global remote patient monitoring market size is estimated to grow by USD 3.31 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of almost 30.11% during the forecast period.

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Region Outlook

1. North America
2. Europe
3. Asia
4. Rest of World

1. North America - North America is estimated to contribute 44%. to the growth of the global market. The Remote Patient Monitoring Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.  The geographic landscape of the Remote Patient Monitoring (RPM) market is significantly influenced by the adoption of telemedicine in managing various health conditions.

Telemedicine enables the monitoring and consultation of patients with infectious diseases, epidemics, healthcare-associated infections, and chronic conditions such as oncology, cardiovascular diseases, diabetes, sleep disorders, and weight management. IoT medical devices, including vital sign monitors and special monitors, play a crucial role in this process. Reimbursement policies and global disease burden are key factors driving the market growth.

Medical practitioners and hospitals employ RPM technologies, digital platforms, and software solutions for consultation tools in home-based care settings and medical care facilities. Medical researchers and healthcare organizations leverage cloud servers and health data for disease control and prevention.

Health insurance portability, accountability, and quality of care are essential aspects of RPM. Firms specializing in telemedicine apps, such as EPIC Health, offer remote access to medical care facilities for chronic disease management. Neurological disorders, cancer cases, hypertension, and neurological disorders are also managed through RPM. The CDC emphasizes the importance of RPM in preventing and controlling various health conditions.

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Segmentation Overview

1. Product 
• 1.1 Vital signs
• 1.2 Implantable
2. End-user 
• 2.1 Hospitals
• 2.2 ASCs
• 2.3 Home care
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Fastest growing segment:

The remote patient monitoring (RPM) market is segmented by product into vital sign monitors, special monitors, and digital platforms. Medical practitioners and hospitals utilize hospital-based patient monitoring systems for real-time health data acquisition. In contrast, home-based care settings and telemedicine start-ups prioritize wearable sensors and home monitoring kits for chronic disease management. RPM technologies facilitate remote access to medical care, enabling healthcare consumers to track their health data in real-time and consult with medical professionals via telemedicine apps.

Digital platforms, including software solutions and consultation tools, enable healthcare organizations to store, analyze, and transmit health data securely using cloud servers. Health Insurance Portability and Accountability Act (HIPAA) compliance ensures the quality of care and data security. RPM technologies cater to various medical conditions, such as hypertension, neurological disorders, and cancer cases, by providing real-time monitoring and intervention. Firms like EPIC Health and Disease Control and Prevention (CDC) employ these RPM technologies for disease prevention and chronic disease management.

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Research Analysis

The Remote Patient Monitoring (RPM) market is experiencing significant growth due to the increasing emphasis on patient-centered care and personalized medicine. RPM technologies enable real-time health data collection from patients with chronic ailments, including hypertension and neurological disorders, in a home-based care setting. These data are transmitted to medical practitioners via digital platforms, facilitating timely interventions and improving chronic disease management. Regulatory variations across regions and social media practices influence the market dynamics.

Geriatric demographics and mobility constraints are key drivers, as aging in place becomes a priority for healthcare expenditures. Telemedicine apps and EPIC Health records are essential tools for RPM, while cloud servers ensure data security and Health Insurance Portability and Accountability (HIPAA) compliance. Medical researchers continue to explore the potential of RPM in managing global disease burden. Firms invest in RPM technologies to cater to the evolving needs of the healthcare industry.

Market Overview

The Remote Patient Monitoring (RPM) market refers to the use of digital technologies to monitor and manage patients' health conditions from a distance. This market is witnessing significant growth due to the increasing prevalence of chronic diseases, the need for cost-effective healthcare solutions, and advancements in technology. RPM solutions enable real-time data collection, analysis, and transmission between healthcare providers and patients, facilitating timely interventions and improved patient outcomes.

These systems can monitor various health parameters such as heart rate, blood pressure, oxygen saturation, and glucose levels. Additionally, they can provide medication reminders, teleconsultations, and remote therapy sessions. The market for RPM is expected to continue expanding as the global population ages and the demand for convenient, accessible healthcare services increases.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Website: www.technavio.com/

SOURCE Technavio