Global Remote Patient Monitoring Market by Product (Vital Sign Monitors, Specialized Monitors), by Application, by End-use (Hospital-based Patients, Ambulatory Patients, Home Healthcare), and by Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2017 to 2027

Date : Jun 2021

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Report ID : 714

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Category : Healthcare

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Report Format:  PDF EXCEL PPT WORD

The global remote patient monitoring market was valued at US$ 975 Mn in 2020 is expected to reach US$ 3,244.9 Mn by 2027, with a growing CAGR of 18.9% during the forecast period (2021-2027).

Remote patient monitoring (RPM) systems allow to monitor patients outside of clinical settings which further increases the patient’s access to healthcare and decreases delivery costs. Chronic-disease management by using RPM technology may significantly enhance an individual's quality of life, by allowing patients to maintain independence and prevent complications.

Remote monitoring systems monitors early warning signs and progress tracker, thus anticipated to witness an increased demand during the forecast period. Increasing number of patients suffering with chronic conditions, entry of new players in the industry, and growing adoption or acceptance of remote patient monitoring systems across the globe due to outbreak of Covid 19 are likely to accelerate the remote patient monitoring market growth.

According to CDC statistics, about 6 in 10 adults in the U.S. are suffering with at least one chronic disease. Furthermore, 4 in 10 adults have two or more than two chronic diseases. Excessive alcohol and tobacco use, poor nutrition, and lack of physical activity are some of the major factors responsible for the high prevalence of chronic diseases. Heart diseases, cancer, stroke, chronic lung diseases, diabetes, Alzheimer, and chronic kidney diseases are some of the major diseases. 

Global Remote Patient Monitoring Market\

The Global Remote Patient Monitoring Industry Segmentation:

By Product

  • Vital Sign Monitors
  • Specialized Monitors

By Application

  • Cancer
  • Cardiovascular Diseases
  • Diabetes
  • Sleep Disorder
  • Weight management and Fitness Monitoring
  • Bronchitis
  • Infections
  • Hypertension
  • Others

By End-use

  • Hospital-based Patients
  • Ambulatory Patients
  • Home Healthcare

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The unique insights provided by this report also includes the following:

  • In-depth value chain analysis
  • Opportunity mapping
  • Sector snapshot
  • Key Players Positioning Matrix
  • Regulatory scenario
  • Strategies Adopted-Benchmarking Heat Map
  • Market trends
  • Covid-19 impact analysis
  • Product comparison
  • Pre & Post COVID 19 impact on the remote patient monitoring market 
  • Competitive Landscape

Based on product type, specialized monitors held the largest share in 2020

Based on product type, the remote patient monitoring market has been segmented into specialized monitors and vital sign monitors. The maximum share held by the specialized monitors segment in the global market. This can be attributed to presence of advance features such as iPad connectivity and wireless communication which responsible for early diagnosis of diseases. Additionally, ability of specialized monitors to monitor various symptoms and thereby prevent complications.

Vital sign monitors segment is expected to witness the fastest growth during the forecast period due to its wide range of applications. For instance, increasing number of cardiac patients and large number of Covid patients in recent years are likely to increase the demand of heart rate monitors, blood pressure monitors, and blood oxygen monitors.

Based on application, diabetes segment accounted for the largest share of the market.

The global remote patient monitoring market is segmented into cancer, cardiovascular diseases, diabetes, sleep disorder, weight management and fitness monitoring, bronchitis, infections, and hypertension. In 2020, the diabetes segment accounted for the largest share of the market due to presence of large patient pool and higher adoption of blood glucose monitors among patients. However, hypertension is anticipated to propel the market with the highest growth during the forecast period. This can be attributed to rising awareness about blood pressure monitors and increasing number of patient.

Based on end-use, hospitals held the largest segment in 2020 and is expected to maintain it’s dominance during the forecast period.

Based on end-use, hospitals segment held the largest share of the market and is witnessing significant growth during the forecast period. This is due to the presence of a large number of patients and thereby large number of tests being performed in hospitals. Additionally, to avoid large number of patients at hospital site during Covid 19 condition, several hospitals adopted remote patient monitoring systems.

Home healthcare is expected to witness the fastest growth during the forecast period. This can be attributed to cost efficiency and preference of patients and doctors for online consultation due to outbreak of Covid 19 pandemic.

Geographically, North America accounted for the largest share of the global remote patient monitoring industry.

North America accounted for the largest share of the remote patient monitoring market in 2020 and is expected to maintain it’s dominance during the forecast period. This can be attributed to high awareness about remote monitoring, supportive reimbursement scenario, and local presence of monitors manufacturers. Additionally, market players initiatives to provide innovative and effective remote monitors and strategic initiatives to reach maximum patients are likely to accelerate the market growth during the forecast period.

Asia Pacific is expected to grow at the fastest rate during the forecast period from 2021 to 2027. This can be attributed to growing chronic disease patients across the region, increasing adoption of remote patient monitoring systems, and growing investment by market players in the region due to presence of several untapped opportunities. 

Company Profiles and Competitive Intelligence: The major players operating in the global remote patient monitoring market are, American Telecare; Biotronik; Bosch; Honeywell; Roche; Philips Healthcare; Intel; Health anywhere Inc.; Johnson & Johnson; Welch Allyn; and Covidien Plc., among others.

The report also provides an in-depth analysis of remote patient monitoring market dynamics such as drivers, restraints opportunities and challenges

Drivers

  1. Increasing geriatric population
  2. The rise in patients suffering from chronic illnesses.
  3. Rising adoption of remote patient monitoring systems by healthcare facilities  

Restraints

  1. Low awareness about remote monitoring in developing countries.
  2. Threat from healthcare fraud

Opportunities

  1. COVID 19 outbreak

COVID-19 Impact on the Remote Patient Monitoring Market

Market Analysis

Outbreak of COVID-19 has positively affected the market of the remote patient monitoring industry. To avoid the spread of virus, healthcare facilities and patients prefer to avoid physical visits to hospitals. Hence, many hospitals and healthcare facilities has implemented a remote patient monitoring system to keep track of a patient’s health. Furthermore, large number of COVID infected patients were home isolated and hence they need to keep a track of oxygen level and heart rate during isolation at home. All these factors impacted the industry positively and further likely to grow with a significant rate during the forecast period. 

The report also provides in-depth analysis of key trends in remote patient monitoring market

Sr. No.

Trends

Impact

1

Breakthrough of COVID 19 increases the need of remote patient monitoring to avoid physical contacts 

Positive

2

With the growing demand across the world, several companies are investing in the remote patient monitoring area

Positive

The report also provides an in-depth analysis of recent news developments and investments

  1. In March 2020, the U.S government declared a funding authorization for USD 500 million for 10 years for remote health care program. Funding by the government indicates that the U.S. government is concerned in expanding RPM throughout their health care system.
  2. In October 2019, UnitedHealth Group’s Optum division acquired Vivify Health, a patient-monitoring start-up. The company provides connected devices and several other technologies to track high risk patients health at home.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

  1. Honeywell
  2. American Telecare
  3. Roche
  4. Philips Healthcare
  5. Bosch
  6. Biotronik
  7. Intel
  8. Welch Allyn
  9. Health anywhere Inc.
  10. Johnson & Johnson
  11. Covidien Plc.

Frequently Asked Questions (FAQs)

Who are the key players in the remote patient monitoring industry?

A few key players include, but not limited to: American Telecare; Biotronik; Bosch; Honeywell; Roche; Philips Healthcare; Intel; Health anywhere Inc.; Johnson & Johnson; Welch Allyn; and Covidien Plc., among others.

What is the share of North America in remote patient monitoring market?

In the base year 2020, North America accounted for more than 25% share in the remote patient monitoring market

What is the estimated market growth rate of remote patient monitoring industry?

The remote patient monitoring market is estimated to grow at a compound annual growth rate (CAGR) of 18.9% during 2020-2027

How big the global remote patient monitoring market?

The global remote patient monitoring market was valued at US$ 975.0 Mn in 2020 and is anticipated to reach US$ 3,244.9 Mn by 2027

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  1. INTRODUCTION
    1. Product Outline
    2. What is Remote Patient Monitoring
    3. Different types of Remote Patient Monitoring Systems
    4. Supply Chain Analysis
    5. Covid -19 Impact
    6. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    7. Technology Overview
  2. Regulatory Landscape for Remote Patient Monitoring    
    1. Regulations and Standards
  3. Remote Patient Monitoring Market Pricing Analysis
    1. Prices of Remote Patient Monitoring Systems
  4. Remote Patient Monitoring Market by Type
    1. Vital Sign Monitors
    2. Specialized Monitors
  5. Remote Patient Monitoring Market by Application
    1. Cancer
    2. Cardiovascular Diseases
    3. Diabetes
    4. Sleep Disorder
    5. Weight management and Fitness Monitoring
    6. Bronchitis
    7. Infections
    8. Hypertension
    9. Others
  6. Remote Patient Monitoring Market by End-use
    1. Hospital-based Patients
    2. Ambulatory Patients
    3. Home Healthcare
  7. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Italy
      5. Spain
      6. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  8. Key Strategic Insights
    1. New Applications
    2. Emerging Technologies
    3. Opportunity Mapping
    4. Critical Success Factors
    5. Consumer Preferences
  9. Key Market Trends / Recent Developments
  10. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
  11. Key Global Players
    1. Honeywell
    2. American Telecare
    3. Roche
    4. Philips Healthcare
    5. Bosch
    6. Biotronik
    7. Intel
    8. Welch Allyn
    9. Health anywhere Inc.
    10. Johnson & Johnson
    11. Covidien Plc.

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