Remote Patient Monitoring (RPM) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Remote Patient Monitoring (RPM) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : January, 2021 | Healthcare IT

Report Digest


Global Remote Patient Monitoring (RPM) Market: Overview

A rising need for expansion of healthcare access together with growth of the geriatric population unable to travel down to healthcare facilities is likely to play an important role in the development of the global remote patient monitoring (RPM) market over the timeframe of analysis, from 2019 to 2029. In addition to that, cost benefits of medical resources together with rising incidences of various chronic diseases and unprecedented progress made in telecommunication systems is likely to open up new growth avenues for the global remote patient monitoring (RPM) market in the years to come. However, informal use of various practices of social media, fraud in the healthcare system, and variations in regional regulations are likely to restrain development of the market in the years to come.

The three important parameters of high importance that have been taken into account for the segmentation of the global remote patient monitoring (RPM) market include product, end user, and region.

Global Remote Patient Monitoring (RPM) Market: Notable Developments

One of the relevant and important developments in the global remote patient monitoring (RPM) market is mentioned as below:

  • In June 2020, Dutch multinational conglomerate, Koninklijke Philips N.V. introduced Maternal Pod and Patch and Avalon CL Fetal for the purpose of remote monitoring in Singapore, New Zealand, Australia, Europe, and the US are likely to back maternal and fetal monitoring.

Some of the key players in the global remote patient monitoring (RPM) market comprise the below-mentioned:

  • Koninklijke Philips N.V.
  • Siemens Healthineers AG
  • Bio-Beat Technologies
  • Abbott Laboratories
  • OMRON Healthcare
  • iRhythm Technologies, Inc.

Global Remote Patient Monitoring (RPM) Market: Key Trends

There are many dynamics in the global remote patient monitoring (RPM) market that are estimated to influence the market over the assessment period, from 2019 to 2029. The presence of several drivers, new growth avenues, and challenges characterize the global remote patient monitoring (RPM) market.

Demand to Rise on the Back of Growing Need to Meet the Requirements of Geriatric Population

Remote patient monitoring (RPM) devices allow remote monitoring of patients outside the usual settings thereby bettering the access to and efficiency of healthcare. Remote patient monitoring devices are utilized for the monitoring and management of an extensive range of health conditions. These systems make an offering of alerts when the condition of health deteriorate, which enables clinicians, caregivers, and patients make interventions and modify the plan of treatment. All these factors are estimated to pave way for rapid growth of the global remote patient monitoring (RPM) market over the period of assessment, from 2019 to 2029.

The devices of remote patient monitoring are utilized for the purpose of treatment of sleep disorder, diabetes, cancer, and cardiovascular diseases. It is also utilized in the management of weight and monitoring of fitness. The rising demand for independent and healthy living has opened up new avenues of growth of the global remote patient monitoring (RPM) market over the timeframe of analysis, from 2019 to 2029.

Global Remote Patient Monitoring (RPM) Market: Geographical Analysis

North America is estimated to account for a sizeable chunk of the global remote patient monitoring (RPM) market throughout the tenure of analysis, from 2019 to 2027. High growth of the North America market is attributed to the growing need to lessen healthcare-related expenditure, expansion of geriatric population, and increased prevalence of chronic conditions. Europe is estimated to trail North America in terms of revenue and growth.

The global remote patient monitoring (RPM) market is segmented as:

Product

  • Software
  • Services
  • Devices
  • Cardiology
  • Neurological
  • Blood Glucose
  • Neonatal
  • Weight
  • Temperature
  • Neuro

End User

  • Providers
  • Hospitals
  • Clinics
  • Home Care
  • Patients
  • Payers

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?