Remote Patient Monitoring System Market is Growing at Significant Rate, 2028: Grand View Research Inc.

 Remote Patient Monitoring System Market Growth & Trends

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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Remote Patient Monitoring System Market Report Highlights

• 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 healthcareis 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

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Remote Patient Monitoring System Market Segmentation

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
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • 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.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.