Chronic diseases are non-communicable illnesses that last long and necessitate continuing medical care and management.
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According to the World Health Organization, chronic diseases account for nearly 70% of all deaths worldwide, with cardiovascular disease being the primary cause. The rising prevalence of chronic diseases is increasing due to many variables, including an aging population, sedentary lifestyles, poor nutrition, and environmental factors. Remote Patient Monitoring (RPM) and care can help healthcare providers to manage chronic diseases more efficiently and effectively.
Different types of chronic diseases include cancer, cardiovascular disease, and diabetes among others which are increasing globally. As a result of the sedentary lifestyle of people, the prevalence of lifestyle-associated disorders such as hypertension and diabetes witnessed a rise. Thus, the rising prevalence of chronic diseases with the growing integration of healthcare data with portable devices is expected to demand proper health management, leading to the anticipated increasing demand for RPM and care in the global market in the forecast period.
Data Bridge Market Research analyzes that the Global Remote Patient Monitoring and Care Market is expected to grow with a CAGR of 12.5% from 2023 to 2030 and is expected to reach USD 25,769.22 million by 2030.
Key Findings of the Study
Growth in Technological Advancements
Technological innovations have transformed the medical industry, allowing healthcare providers to remotely monitor and manage patients' health. RPM and care entail the use of technology to collect and communicate patient health data to healthcare providers from a remote location. The collected data is analyzed to provide insights into the patient's health status, allowing healthcare providers to make informed decisions about the patient's care.
The evolution of technology has resulted in the creation of numerous gadgets and platforms that enable RPM and care. Wearable monitoring devices can collect and send vital signs and other health-related data to healthcare providers. Furthermore, mobile applications can allow patients to track their symptoms and receive real-time advice from healthcare providers.
Increasing technological advancements in RPM devices with advanced features have resulted in proper management for both patients and doctors, which is anticipated to boost market growth.
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 Year
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2021 (Customizable to 2015 – 2020)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Device Type (Cardiac Monitoring Devices, Blood Pressure Monitoring Devices, Blood Glucose Monitoring Devices, Respiratory Monitoring Devices, Neurological Monitoring Devices, Multi-Parameter Monitoring Devices, and Others), Application (Oncology, Diabetes, Cardiovascular Diseases, and Others), End User (Hospital-Based Patients, Ambulatory Patients, and Home Healthcare Patients)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Belgium, Turkey, Netherlands, Russia, Switzerland, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Medtronic (Ireland), Boston Scientific Corporation (U.S.), VitalConnect (U.S.), Biobeat (Israel), General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Abbott (U.S.), Nihon Kohden Corporation (Japan), Vivify Health, Inc. (U.S.), Aerotel Medical Systems (Israel), BIOTRONIK SE & Co. KG (Germany), A&D Company, Limited (Japan), AliveCor, Inc. (U.S.), Masimo (U.S.), Dexcom, Inc. (U.S.), Senseonics, 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 also include depth expert analysis, competitive analysis, Brand analysis, technological trends, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
The global remote patient monitoring and care market is segmented into three notable segments based on device type, application, and end user.
On the basis of device type, the market is segmented into cardiac monitoring devices, blood pressure monitoring devices, multi-parameter monitoring devices, blood glucose monitoring devices, respiratory monitoring devices, neurological monitoring devices, and others.in 2023, the cardiac monitoring devices is anticipated to dominate the global remote patient monitoring and care market with a 31.51% market share.
In 2023, the cardiac monitoring devices segment is anticipated to dominate the global remote patient monitoring and care market.
- In 2023, the cardiac monitoring devices segment is expected to dominate the global remote patient monitoring and care market owing to the increasing prevalence of cardiovascular diseases and the rising adoption of remote monitoring devices by physicians and patients for continuous monitoring.
- On the basis of application, the market is segmented into oncology, diabetes, cardiovascular diseases, and others. In 2023, the cardiovascular diseases segment is expected to dominate the market with a 52.01% market share.
- On the basis of end user, the market is segmented into hospital-based patients, ambulatory patients, and home healthcare patients. In 2023, the home healthcare patients segment is expected to dominate the market with a 73.10% market share.
- In 2023, the home healthcare patients segment is projected to hold the largest share of end user segment in the global remote patient monitoring and care market.
- In 2023, the home healthcare patients segment holds the maximum market share due to the rising adoption of remote monitoring of patients with chronic illnesses who are homebound.
Major Players
Medtronic (Ireland), Boston Scientific Corporation (U.S.), VitalConnect (U.S.), Biobeat (Israel), General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Abbott (U.S.), Nihon Kohden Corporation (Japan), Vivify Health, Inc. (U.S.), Aerotel Medical Systems (Israel), BIOTRONIK SE & Co. KG (Germany), A&D Company, Limited (Japan), AliveCor, Inc. (U.S.), Masimo (U.S.), Dexcom, Inc. (U.S.), Senseonics, Inc. (U.S.), ResMed (U.S.), 100Plus. (U.S.), ChroniSense Medical, Ltd. (Israel), Vitls (U.S.), cardiomo (Netherlands), CoachCare (U.S.), neteera (Israel), and Withings (France) among others.
Market Developments
- In March 2023, Abbott announced the new data which found monitoring patients remotely with hemodynamic pressure sensing technology, such as with its CardioMEMS HF System, can significantly improve survival in Heart Failure Patients with Reduced Ejection Fraction (HFrEF). This announcement would help the company in its product reputation.
- In February 2023, Dexcom, Inc. announced the launch of its Dexcom G6 CGM System in Singapore for children with diabetes aged two years and older, including pregnant women. This product launch in Singapore would help the company in its business line expansion across the world.
- In January 2023, CoachCare announced that it has acquired Winston-Salem-based RPM company NVOLVE, to extend its remote patient monitoring expertise in the pain, spine, and orthopedic field. This acquisition would help the company in its product portfolio and business expansion.
- In January 2023, Masimo and Philips announced an expansion of their partnership to augment patient monitoring capabilities in home telehealth applications with the Masimo W1 advanced health tracking watch. This collaboration extension would help the company in remote patient monitoring product portfolio expansion.
- In August 2022, Medtronic announced that it has entered into a partnership with BioIntelliSense which is focused on continuous health monitoring and clinical intelligence. This partnership will benefit the company to expand its product portfolio.
Regional Analysis
Geographically, the countries covered in the global remote patient monitoring and care market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Belgium, Turkey, Netherlands, Russia, Switzerland, rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global remote patient monitoring and care market during the forecast period 2023 - 2030
North America region is expected to dominate the global remote patient monitoring and care market. This is due to the rising adoption of RPM devices all across the region. The rising supply of RPM devices to patients and the rising practice of monitoring patients remotely are expected to drive market growth in the region.
Europe is estimated to be the fastest-growing region in the global remote patient monitoring and care market for the forecast period 2023 - 2030
Europe is expected to grow during the forecast period due to an increase in the number of healthcare facilities with advanced technology and rising launches and approvals of several RPM devices.
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