The “Remote Patient Monitoring (RPM) Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Remote Patient Monitoring (RPM) Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global Remote Patient Monitoring (RPM) market size was US$ 21.9 million in 2021. The global Remote Patient Monitoring (RPM) market is forecast to grow to US$ 121.1 Million by 2030 by registering a compound annual growth rate (CAGR) of 31.6% during the forecast period, i.e., 2022-2030.
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Remote Patient Monitoring (RPM) technology is widely used to electronically transfer medical and health-related data. It also helps professionals analyse physiological parameters such as blood pressure, blood oxygen levels, vital signs, heart rate, blood sugar, etc.
Factors Influencing the Market
Remote patient monitoring systems have many benefits, such as it reduces emergency department visits and the duration of hospitalization. The technology is composed of day-to-day monitoring devices, such as glucometers, blood pressure monitors, etc. Apart from that, the fact that the information is directly sent to the physician’s workplace will drive the demand for technology in the healthcare sector. Apart from that, it enables effective telehealth communication through an internet-capable computer, smartphone, or tablet, allowing users to have their treatment done at home. Such advancements are expected to bring lucrative growth opportunities for the remote patient monitoring (RPM) market during the study period.
The main causes of death and morbidity worldwide are chronic respiratory, cardiovascular, and metabolic illnesses. Seventy-five percent of medical expenses are related to managing chronic conditions. The rise in chronic disease accelerates the demand for efficient treatment options. as a result, it will be opportunistic for the remote patient monitoring (RPM) market during the forecast period.
Other factors like the growing geriatric population and their rising demand for a better lifestyle will also contribute to the growth of the remote patient monitoring (RPM) market. On the flip side, the stringent regulatory framework may limit the growth of the remote patient monitoring (RPM) market.
COVID-19 Impact Analysis
In the wake of the COVID-19 pandemic, remote methods emerged as a boon to tackle the situation smartly. Various healthcare organizations adopted remote methods to treat patients and prescribe medications. Moreover, the fact that it also reduces the need to visit hospitals, where there was myriad of COVID-19 affected patients getting their treatment done. Thus, it boosted the growth of the remote patient monitoring (RPM) market.
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Regional Analysis
North America is forecast to hold the largest share in the remote patient monitoring (RPM) market, owing to the rising incidences of chronic diseases. Apart from that, the demand for wireless and portable systems is expected to rise due to the presence of a sophisticated reimbursement structure aimed at deploying robust technology. Further, Europe, especially the Western European countries, is expected to have a notable contribution to the remote patient monitoring (RPM) market due to the growing demand for in-house monitoring and supportive central data management systems.
Competitors in the Market
? Abbott Laboratories
? Aerotel Medical Systems
? AMD Global Telemedicine
? Baxter International Inc.
? Boston Scientific Corporation
? GE Healthcare
? Masimo Corporation
? Medtronic PLC
? Omron Corporation
? Other Prominent Players
Market Segmentation
The global remote patient monitoring (RPM) market segmentation focuses on Type, Application, End-User, and Region.
By Type:
? Heart Monitors
? Breath Monitors
? Hematology Monitors
? Multi-parameter Monitors
? Other
By Application:
? Cancer Treatment
? Cardiovascular Diseases
? Diabetes Treatment
? Sleep Disorder
? Weight Management and Fitness Monitoring
? Other Applications
By End User:
? Home Care Settings
? Hospital/Clinics
? Other
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By Regional Outlook
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
Why to purchase this report :
- The report would provide an in-depth analysis on the current and future market trends
- Analysis on global, regional and country level markets
- Key strategic initiatives taken by major players operating in the market along with ranking analysis for the key players
- Analysis based on historical information along with the current trends to estimate the future of the market
- Analysis of the impact of constantly changing global market scenarios
What is the goal of the report?
1.The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
3.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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