Rapid technological advancements, including wearable devices, mobile apps, and telehealth platforms, have facilitated remote therapeutic monitoring. These technologies provide real-time data collection, transmission, and analysis, allowing healthcare providers to remotely monitor patients' vital signs, medication adherence, and overall health. Technological advancements have led to the development of wearable devices and sensors that can monitor various MSK (musculoskeletal) parameters such as movement, posture, range of motion, muscle activity, and joint pressure. These devices can collect real-time data and provide objective measurements, enabling healthcare providers to monitor patients' MSK conditions and track their progress remotely. Accurate and reliable wearable devices enhance remote therapeutic monitoring for MSK conditions.
For instance,
- In May 2021, as per ScienceDirect, in the past few years, technology has revolutionized the field of motion capture by introducing wearable and optical sensors to enable an automatic acquisition of reliably accurate movement data for biomechanics analysis along with scientific literature on technology-assisted approaches using RGB-D sensors for musculoskeletal health monitoring have been evolved
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It can be concluded that the rising technological advancement in remote therapeutic monitoring (MSK) is driving the market's growth in the forecast period.
Key Findings of the Study
- The U.S. Remote Therapeutic Monitoring (MSK) Market is anticipated to reach a value of USD 2,350.10 million by 2030, with a CAGR of around 18.3% during the forecast period from 2023 to 2030
- The solutions software segment accounted for the largest share in 2022 at 52.02%. The solutions software segment is growing due to rising technological advancements. Moreover, the major players in the market are launching various innovative featured products in the region, further improving the segment's growth
- In deployment mode, cloud based segment accounted for the largest share in 2022 at 58.84%. The cloud based segment is growing due to the rising integration of artificial intelligence and machine learning
- The U.S. remote therapeutic monitoring (MSK) market was positively affected by the COVID-19 outbreak. The pandemic led to the rapid adoption of remote therapeutic monitoring technologies as healthcare providers sought alternative ways to deliver care while minimizing in-person visits. This shift resulted in increased utilization of telehealth platforms, wearable devices, mobile applications, and other remote monitoring tools in managing MSK conditions
- The U.S. is expected to register lucrative growth over the forecast period of 2021 to 2030 owing to the growing demand for home healthcare
Growing demand for home healthcare
Patients increasingly prefer healthcare services in the comfort of their homes. Remote therapeutic monitoring enables patients to manage their conditions remotely while reducing the need for frequent hospital visits. This demand for home-based care is driving the adoption of remote monitoring solutions.
Home healthcare offers patients the convenience and comfort of receiving healthcare services in their own homes. Many patients prefer to avoid the need for frequent hospital visits or lengthy stays. Remote therapeutic monitoring allows patients to manage their conditions from the comfort of their homes, reducing the need for in-person visits while still receiving necessary care and monitoring.
Hence, as per the above discussion, it can be concluded that the growing demand for home healthcare is driving the market's growth in the forecast period.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, and Pricing in USD
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Segments Covered
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By Product (Solutions Software, Services, and Hardware), Deployment Mode (Cloud Based and On Premises), Mode of Access (Mobile Based and Web Based), Codes (98975, 98976, 98977, 98980, and 98981), Type (Continuous Monitoring, Proactive Monitoring, and Intermittent Monitoring), Application (Non Physiological Data and Therapeutic Data), Purchase Mode (Group Purchase and Individual), End Users (Providers, Payers, and Patient), Distribution Channel (Direct Sales and Indirect Sales)
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Country Covered
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U.S.
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Market Players Covered
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Zimmer Biomet (U.S.), Omada Health Inc. (U.S.), HealthViewX (U.S.), Propeller Health (U.S.), Limber Health Inc. (U.S.), Murata Vios (U.S.), Owlytics Healthcare (U.S.), Medistics LLC. (U.S.), INTELLIH INC. (U.S.), HealthArc (U.S.), CIPHER SKIN INC. (U.S.), Medsien, Inc. (U.S.), Censon Health (U.S.), and Exer Labs, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The U.S. remote therapeutic monitoring (MSK) market is segmented into nine notable segments such as product, deployment mode, mode of access, codes, type, application, purchase mode, end users, and distribution channel.
- On the basis of product, U.S. remote therapeutic monitoring (MSK) market is segmented into solutions software, services, and hardware.
In 2023, the solutions software segment is expected to dominate the market due to rising technological advancements.
In 2023, the solutions software segment is dominating the market with a market share of 52.02%, and it is estimated to reach USD 1,234.98 million by 2030, growing at the CAGR of 18.4% in the forecast period from 2023 to 2030. It is expected to dominate U.S. remote therapeutic monitoring (MSK) market due to rising technological advancements.
- On the basis of deployment mode, the U.S. remote therapeutic monitoring (MSK) market is segmented into cloud based and on premises. In 2023, the cloud based segment is dominating the market with a market share of 58.89%, growing at a CAGR of 18.4% in the forecast period from 2023 to 2030.
- On the basis of mode of access, the U.S. remote therapeutic monitoring (MSK) market is segmented into mobile based and web based. In 2023, the mobile based segment is dominating the market with a market share of 58.81%, growing at a CAGR of 18.3% in the forecast period from 2023 to 2030.
- On the basis of codes, the U.S. remote therapeutic monitoring (MSK) market is segmented into 98975, 98976, 98977, 98980, and 98981. In 2023, the 98975 segment is dominating the market with a market share of 27.38%, growing at a CAGR of 19.5% in the forecast period from 2023 to 2030.
- On the basis of types, the U.S. remote therapeutic monitoring (MSK) market is segmented into continuous monitoring, proactive monitoring, and intermittent monitoring. In 2023, the continuous monitoring segment is dominating the market with a market share of 42.70%, growing at the CAGR of 18.7% in the forecast period from 2023 to 2030.
- On the basis of application, the U.S. remote therapeutic monitoring (MSK) market is segmented into non physiological data, and therapeutic data. In 2023, the non physiological segment is dominating the market with a market share of 51.47%, growing at a CAGR of 18.5% in the forecast period from 2023 to 2030.
- On the basis of purchase mode, the U.S. remote therapeutic monitoring (MSK) market is segmented into group purchase and individual.
In 2023, the group purchase segment is expected to dominate U.S. Remote Therapeutic Monitoring (MSK) Market due to the expansion of telehealth.
In 2023, the group purchase segment is dominating the market with a market share of 60.41%, growing at the CAGR of 18.4% in the forecast period from 2023 to 2030. It is expected to dominate U.S. remote therapeutic monitoring (MSK) market due to the expansion of telehealth.
- On the basis of end users, the U.S. remote therapeutic monitoring (MSK) market is segmented into providers, payors, and patient. In 2023, the providers segment is dominating the market with a market share of 43.36%, growing at a CAGR of 18.5% in the forecast period from 2023 to 2030.
- On the basis of distribution channel, the U.S. remote therapeutic monitoring (MSK) market is segmented into direct sales and indirect sales. In 2023, the direct sales segment is dominating the market with a market share of 57.56%, growing at a CAGR of 18.4% in the forecast period from 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in U.S. remote therapeutic monitoring (MSK) market Zimmer Biomet (U.S.), Omada Health Inc. (U.S.), HealthViewX (U.S.), Propeller Health (U.S.), Limber Health Inc. (U.S.), Murata Vios (U.S.), Owlytics Healthcare (U.S.), Medistics LLC. (U.S.), INTELLIH INC. (U.S.), HealthArc (U.S.), CIPHER SKIN INC. (U.S.), Medsien, Inc. (U.S.), Censon Health (U.S.), and Exer Labs, Inc. (U.S.) among others.
Market Development
- In November 2022, Limber Health, Inc. received the rising star award for empowering clinicians in remote monitoring for musculoskeletal care. This has helped the company to establish its presence in the remote therapeutic monitoring (MSK) industry
- In September 2022, Owlytics Healthcare introduced its partnership with Encore Rehabilitation, one of many nation's largest contract remedy suppliers and a trusted chief in delivering revolutionary outsourced rehabilitation options and providers. Encore Rehabilitations selected Owlytics' innovative AI-powered RTM solution to improve senior care. This has helped the company to enhance its network among customers.
- In April 2022, INTELLIH INC. received a Service Organization Control 2 (SOC 2) Certification after a thorough independent third-party audit of the solution architecture, data security, security practices, and operational processes
- In February 2022, Medsien, Inc. launched a new RTM (Remote Therapeutic Monitoring) program, adding to its successful remote patient monitoring services suite. The Centers for Medicare and Medicaid Services (CMS) added RTM service reimbursement for 2022, and the team at Medsien responded with a unique Remote Pain Management RTM program for pain management providers. This has helped the company to establish its product portfolio
- In August 2021, Zimmer Biomet and Canary Medical announced the FDA De Novo classification grant and authorization to market the world's first smart knee implant Persona IQ. This has helped the company to strengthen its product portfolio
For more detailed information about the U.S. remote therapeutic monitoring (MSK) market report, click here – https://www.databridgemarketresearch.com/de/reports/us-remote-therapeutic-monitoring-msk-market
