Remote Patient Monitoring Market to be Worth $116.84 Billion by 2031

 

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Remote Patient Monitoring Market by Product ([Blood Glucose, Respiratory, Blood Pressure, Fetal, Weight Monitoring] [Wearable, Portable, Benchtop]) Application (Diabetes, Oncology, Cardiovascular, Neurological Disorders) End User - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global remote patient monitoring market is projected to reach $116.84 billion by 2031, at a CAGR of 13.7%. The factors driving the market are the increasing geriatric population, rising prevalence of chronic diseases, shortage of healthcare professionals, growing awareness regarding the benefits of RPM, such as convenience and improved patient outcomes, rising need to reduce healthcare costs, and favorable government initiatives promoting remote patient monitoring. Additionally, technological advancements in telehealth & remote patient monitoring, emerging economies with growing patient populations, increasing adoption of wearable devices, advancements in sensor technologies, and integration of artificial intelligence with RPM serve are expected to create market growth opportunities.

However, data accuracy & reliability concerns and barriers limiting the use of remote patient monitoring technologies, such as limited access and low technology literacy among patients, restrain the growth of the market. Additionally, data security & privacy concerns and increased overhead expenses due to the need for additional staff to manage the RPM system are some of the challenges impacting the market’s growth.

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Key Players: 

The key players profiled in the remote patient monitoring market report are Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Boston Scientific Corporation (U.S.), Abbott Laboratories (U.S.), Siemens Healthineers AG (Germany), GE HealthCare Technologies, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Baxter International, Inc. (U.S.), Oracle Corporation (U.S.), DexCom, Inc. (U.S.), and VitalConnect, Inc. (U.S.).

The global remote patient monitoring market is segmented by Product (Monitoring Devices {By Functionality [Blood Glucose Monitoring, Cardiac Monitoring, Neurological Monitoring, Respiratory Monitoring, Multiparameter Monitoring, Blood Pressure Monitoring, Fetal and Neonatal Monitoring, Weight Monitoring, and Other Monitoring Devices] By Type [Wearables, Portable, and Benchtop Monitoring Devices]}, Software, Services), Application (Diabetes, Cardiovascular Diseases, Neurological Disorders, Respiratory Diseases, Oncology, Other Applications), End User (Home-care Settings, Hospitals, Long-term Care Facilities, Other End Users), and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/remote-patient-monitoring-market-5343

Based on the product, in 2024, the monitoring devices segment is expected to account for the largest share of the market. The large share of the segment is attributed to factors such as the rising elderly population, advancements in sensor technologies, integration of artificial intelligence (AI) in monitoring devices, and the rising demand for personalized healthcare.

Based on application, in 2024, the diabetes segment is expected to account for the largest share of the market. The large share of this segment is due to factors such as the utilization of telehealth, the increasing prevalence of diabetes, and the rising need to monitor diabetes patients.

Based on end user, in 2024, the home-care settings segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the growing shift towards home-care settings, the rising prevalence of chronic diseases among the elderly population, the shortage of healthcare professionals, and increasing consumer awareness regarding the monitoring of chronic conditions through RPM tools.

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Geographic Review: 

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the remote patient monitoring market, followed by Europe. North America’s significant market share can be attributed to factors such as the high adoption of technologically advanced products and devices, the presence of key market players, the well-established healthcare system, high consumer awareness, and high disposable incomes.

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Key questions answered in the report-

·  Which are the high-growth market segments in terms of product, application, end user, and region/country?

·  What was the historical market for remote patient monitoring across the globe?

·  What are the market forecasts and estimates for the period 2024–2031?

·  What are the major drivers, restraints, challenges, opportunities, and trends in the global market of remote patient monitoring market?

·  Who are the major players in the global remote patient monitoring market?

·  What is the competitive landscape like, and who are the market leaders in the global remote patient monitoring market?

·  What are the recent developments in the remote patient monitoring market?

·  What are the different strategies adopted by the major players in the remote patient monitoring market?

·  What are the geographical trends and high growth regions/countries?