Global Remote Patient Monitoring Market Set for Significant Growth, Projected to Reach US$ 4.7 Billion by 2032
Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Global Remote Patient Monitoring Market Report by Device Type, Application, End-Use, and Region 2024-2032" report has been added to * ResearchAndMarkets.com's* offering.
The global remote patient monitoring (RPM) market is experiencing a major surge, with projections indicating a climb to US$ 4.7 billion by the year 2032 from US$ 1.5 billion in 2023. Experts attribute this robust growth, with a calculated CAGR of 13.53% over the period 2023-2032, to several factors including the increasing incidence of chronic diseases and advancements in digital technology.
The significant expansion of the RPM market is largely driven by the rising demand for accessible healthcare, particularly for chronic disease management and elderly care. The growing shortage of healthcare professionals, especially in remote areas, is leading to the adoption of RPM as an efficient alternative to conventional healthcare delivery. Additionally, improvements in high-speed internet connectivity and the proliferation of smart devices are facilitating the widespread adoption of RPM solutions globally.
*Segment Highlight: Device Type and Applications*
Among the different types of devices, heart rate monitors are currently dominating the market. These devices provide crucial real-time data that is core to managing various healthcare conditions. When analyzing the applications, the market is significantly led by the cardiovascular diseases treatment and monitoring segment. This points towards the crucial role of RPM technologies in the management of conditions such as heart failure, hypertension, and arrhythmias.
*Regional Insights*
The North American market is at the forefront of the RPM industry, holding the largest market share. This dominance is related to the aging population’s increasing healthcare needs, paired with advancements in technology and greater health awareness among the general population. Asia Pacific is also expected to experience stable growth due to rapid technological integrations and enhanced internet connectivity.
*Competitive Landscape*
Key industry players are constantly innovating and integrating cutting-edge technologies like AI, machine learning, and IoT, to provide comprehensive health monitoring solutions. These technologies not only enable precise data analysis but also ensure the security and integrity of patient data.
*Future Outlook*
The global RPM market shows no signs of slowing down, with technological advancements and regulatory support continuously shaping its growth. As societies worldwide gravitate more toward patient-centric and accessible healthcare solutions, remote patient monitoring stands out as a significant enabler for the future of healthcare services.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 144
Forecast Period 2023 - 2032
Estimated Market Value (USD) in 2023 $1.5 Billion
Forecasted Market Value (USD) by 2032 $4.7 Billion
Compound Annual Growth Rate 13.5%
Regions Covered Global
*Companies Featured*
· Abbott Laboratories
· AMD Global Telemedicine Inc.
· BIOTRONIK SE & Co. KG
· Boston Scientific Corporation
· Dexcom Inc.
· GE Healthcare Inc. (Danaher Corporation)
· Honeywell International Inc.
· Koninklijke Philips N.V.
· Medtronic Inc.
· Nihon Kohden Corporation
· OSI Systems Inc.
· Roche Holding AG
For more information about this report visit https://www.researchandmarkets.com/r/58ul8t
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*Attachment*
· Global Remote Patient Monitoring Market
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