The global remote patient monitoring system market size is expected to reach USD 4.1 billion by 2028, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 19.7% from 2021 to 2028. The remote patient monitoring (RPM) system uses digital technology to gather patient data and monitor a patient’s health remotely. The remote patient monitoring system is expected to witness substantial growth in demand due to its capability to monitor various chronic conditions, such as diabetes, cardiovascular conditions, and cancer.
According to the Centers for Disease Control and Prevention (CDC), 34.2 million people in the U.S. have diabetes and 88 million have prediabetes. Apart from this, the World Health Organization (WHO) estimates that around 422 million people have diabetes at the global level. Companies are consistently engaged in developing tools for monitoring patients with diabetes and other chronic diseases outside of conventional care settings, especially during the COVID-19 pandemic fueling the market growth.
Asia Pacific is projected to be a key revenue-generating region in the coming years. The region is backed by developing countries, such as China, South Korea, and Thailand, which are witnessing an increase in the number of chronic diseases owing to lifestyle changes. Cardiovascular disease is among the leading cause of death in these countries. Remote patient monitoring system is expected to play a key role in the early detection and timely management of these diseases.
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Based on product, in the specialized monitors segment, cardiac rhythm monitor is expected to expand at a significant CAGR over the forecast period owing to the increasing incidence of cardiac conditions globally
By end use, home healthcare is projected to be the fastest-growing segment with a CAGR of 20.1% from 2021 to 2028 owing to a rise in the number of patients accessing remote monitoring due to the COVID-19 pandemic
Asia Pacific is expected to showcase high growth potential in the coming years due to the presence of large unmet needs in emerging economies, such as China and India. This region is also backed by Japan, which has one of the highest numbers of 65+-year-old adults at the global level
Grand View Research has segmented the global remote patient monitoring system market on the basis of product, application, end-use, and region:
RPM System Product Outlook (Revenue, USD Million, 2016 - 2028)
Vital Sign Monitors
Blood Pressure Monitors
Pulse Oximeters
Heart Rate Monitor (ECG)
Temperature Monitor
Respiratory Rate Monitor
Brain Monitoring (EEG)
Specialized Monitors
Anesthesia Monitors
Blood Glucose Monitors
Cardiac Rhythm Monitor
Respiratory Monitor
Fetal Heart Monitors
Prothrombin Monitors
Multi Parameter Monitors (MPM)
Others
RPM System Application Outlook (Revenue, USD Million, 2016 - 2028)
Cancer
Cardiovascular Diseases
Diabetes
Sleep Disorder
Weight management and Fitness Monitoring
Bronchitis
Infections
Virus
Dehydration
Hypertension
RPM System End-use Outlook (Revenue, USD Million, 2016 - 2028)
Hospital Based Patients
Ambulatory Patients
Home Healthcare
RPM System Regional Outlook (Revenue, USD Million, 2016 - 2028)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
China
Japan
India
Thailand
South Korea
Latin America
Mexico
Brazil
Argentina
Colombia
MEA
South Africa
Saudi Arabia
UAE
List of Key Players of Remote Patient Monitoring System Market
Honeywell
American Telecare
Roche
Philips Healthcare
Bosch
Biotronik
Intel
Welch Allyn
Health anywhere Inc.
Johnson & Johnson
Covidien Plc.
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