Worldwide Remote Patient Monitoring Industry to 2028 - Expansion of Healthcare Facilities in Remote Locations Presents Opportunities

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Jul 19, 2021, 14:45 ET

DUBLIN, July 19, 2021 /PRNewswire/ -- The "Remote Patient Monitoring Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and End User and Geography" report has been added to ResearchAndMarkets.com's offering.

The global remote patient monitoring market is expected to reach US$ 7,338.92 million by 2028 from US$ 2,177.69 million in 2020. The market is estimated to grow at a CAGR of 16.4% during 2020-2028. The key factors that are driving the growth of market are the growing prevalence of chronic diseases, rising awareness regarding healthcare, and surging demand for home-based treatments. However, security and privacy issues, and unaddressed regulatory concerns restrain the market growth.

With the growing incidence of chronic illnesses, such as diabetes and hypertension, there has been a rise in awareness regarding one's health. Also, in recent days, the number of individuals suffering from heart-related disorders has increased significantly. These factors have enhanced the importance of maintaining health among the population in the developed as well as developing nations across the world. As a result, the demand for various health monitoring devices for maintaining a track of health status has increased significantly in the recent years. Also, there has been a rise in the number of specialty clinics and home healthcare businesses in countries such as the US, India, and Canada. Asia Pacific is anticipated to offer significant growth opportunities during the forecast period, owing to the increasing disposable income and the growing urbanization in the leading economies, such as Japan, China, and India.

The use of handheld and wearable devices for monitoring vital signs is high among geriatric and millennial population. Owing to the growing awareness regarding health, the market for remote patient monitoring devices is anticipated to witness significant growth during the forecast period.

The global remote patient monitoring market, based on type, is segmented into software, devices, and services. In 2020, the devices segment accounted for the largest share in the market and is expected to retain its dominance during the forecast years. The market growth for this segment is attributed to the high-volume demand for vital sign remote patient monitoring devices across various countries worldwide. In addition, the surge in demand for respiratory and multifunctional monitoring devices due to the COVID-19 outbreak also contributes to the market growth for this segment. Furthermore, medical device manufacturers are constantly focusing on the improvement of the quality and innovations in these devices, which would help the segment to hold a dominant share in the remote patient monitoring market during the forecast years.

The COVID-19 outbreak has been adversely affecting most of the businesses globally since December 2019. Due to the pandemic, international trade and supply chain are disrupted, it has affected the sales and manufacturing of remote patient monitoring products for a short period. However, overall prospects for the growth of the remote patient monitoring market are considered positive. Increasing government support and reimbursement policies for various remote patient monitoring devices to reduce and avoid human contact during the pandemic and promote telehealth and monitoring services have bolstered the growth of remote patient monitoring market.

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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the remote patient monitoring market.
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The key findings and recommendations highlight crucial progressive industry trends in the global remote patient monitoring market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Key Topics Covered:

1. Introduction

2. Remote Patient Monitoring Market - Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Global Remote Patient Monitoring Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia Pacific - PEST Analysis
4.2.4 Middle East and Africa (MEA) - PEST Analysis
4.2.5 South and Central America (SCAM) - PEST Analysis
4.3 Expert Opinions
4.4 Government Healthcare Initiatives - India, Australia, Middle East & Africa

5. Remote Patient Monitoring Market - Key Market Dynamics
5.1 Drivers
5.1.1 Growing Prevalence of Chronic Diseases
5.1.2 Rising Awareness Regarding Healthcare
5.1.3 Growing Demand for Home-Based Treatments
5.2 Restraints
5.2.1 Security and Privacy Issues
5.2.2 Unaddressed Regulatory Concerns
5.3 Opportunity
5.3.1 Expansion of Healthcare Facilities in Remote Locations
5.4 Future Trend
5.4.1 Remote Monitoring to Replace Patients' Routine Visits
5.5 Impact Analysis

6. Remote Patient Monitoring Market - Global Analysis
6.1 Global Remote Patient Monitoring Market Revenue Forecast and Analysis
6.2 Global Remote Patient Monitoring Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players

7. Remote Patient Monitoring Market Analysis - By Type
7.1 Overview
7.2 Remote Patient Monitoring Market Revenue Share, by Type2020 and 2028)
7.3 Software
7.3.1 Overview
7.3.2 Software: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.3.3 Cloud Software
7.3.3.1 Overview
7.3.3.2 Cloud Software: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.3.4 On-Premise Software
7.3.4.1 Overview
7.3.4.2 On-Premise Software: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Devices
7.4.1 Overview
7.4.2 Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.3 Cardiac Monitoring Devices
7.4.3.1 Overview
7.4.3.2 Cardiac Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.4 Neurological Monitoring Devices
7.4.4.1 Overview
7.4.4.2 Neurological Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.5 Respiratory Monitoring Devices
7.4.5.1 Overview
7.4.5.2 Respiratory Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.6 Multiparameter Monitoring Devices
7.4.6.1 Overview
7.4.6.2 Multiparameter Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.7 Blood Glucose Monitoring Devices
7.4.7.1 Overview
7.4.7.2 Blood Glucose Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.8 Fetal and Neonatal Monitoring Devices
7.4.8.1 Overview
7.4.8.2 Fetal and Neonatal Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.9 Weight Monitoring Devices
7.4.9.1 Overview
7.4.9.2 Weight Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.4.10 Other Monitoring Devices
7.4.10.1 Overview
7.4.10.2 Other Monitoring Devices: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Remote Patient Monitoring Market- Revenue and Forecast to 2028 (US$ Million)

8. Remote Patient Monitoring Market - By End-User
8.1 Overview
8.2 Remote Patient Monitoring Market, by End-User, 2020 and 2028 (%)
8.3 Providers
8.3.1 Overview
8.3.2 Providers: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)
8.3.3 Hospital and Clinics
8.3.3.1 Overview
8.3.3.2 Hospital and Clinics: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)
8.3.4 Home Care Settings and Long-Term Care Centers
8.3.4.1 Overview
8.3.4.2 Home Care Settings and Long-Term Care Centers Market: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)
8.3.5 Ambulatory Care Centers
8.3.5.1 Overview
8.3.5.2 Ambulatory Care Centers: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)
8.3.6 Other
8.3.6.1 Overview
8.3.6.2 Other: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Payers
8.4.1 Overview
8.4.2 Payers: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Patients
8.5.1 Overview
8.5.2 Patients: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Remote Patient Monitoring Market - Revenue and Forecast to 2028 (US$ Million)

9. Remote Patient Monitoring Market - Geographical Analysis

10. Impact of COVID-19 Pandemic on Global Remote Patient Monitoring Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment Of COVID-19 Pandemic
10.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Rest of the World: Impact Assessment of COVID-19 Pandemic

11. Remote Patient Monitoring Market- Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview

12. Company Profiles
12.1 Medtronic
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Koninklijke Philips N.V.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Cerner Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Boston Scientific Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Abbott
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 OMRON Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Siemens Healthineers AG
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Nihon Kohden Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 VitalConnect
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 General Electric Company
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments

13. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/1l4umx

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