Remote Patient Monitoring Market

Remote Patient Monitoring Market by Product (Software, Services, Devices, Cardiology, Neurological, BP Monitors, Neonatal, Weight, Temperature, Neuro), End user (Providers, Hospitals, Clinics, Homecare, Patients, Payers) - Global Forecast to 2027

Report Code: HIT 7776 Mar, 2022, by marketsandmarkets.com

[206 Pages Report] The global remote patient monitoring market is projected to reach USD 175.2 Billion by 2027 from USD 53.6 Billion in 2022, at a CAGR of 26.7% during the forecast period. The predominant factors influencing the growth of the market include benefits of RPM to reduce the burden on medical resource, monitory benefits of telehealth and remote patient monitoring services, advancements in telecommunications, increasing geriatric population and the growing need to expand healthcare access. However, the regulatory ardifference and challenges among various regions combined with informal usage of social media practices and related healthcare fraudare some factors that are anticipated to negatively affect the market growth during the forecast period.

Remote Patient Monitoring Market

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Covid-19 Impact on the Global Remote Patient Monitoring Market

The COVID-19 outbreak has had a significant impact on the gorwth dynamics of various on the healthcare industries owed to its huge economic impact on major countries of the globe. As of 31st December 2021, 290 million cases have been reported worldwide, with 5,419,881 deaths (Worldometer). There has been a boost in adoptioof remote patient monitoring services during the COVID-19 pandemic. This positive impact is expected to follow throughout the forecast period. Various start-up companies seized the opportunity to fulfill the need gap of the healthcare providers trying to remotely monitor patients. In line with this, remote patient monitoring represents an attractive, effective, and affordable option. Moreover, this technology is of critical importance in keeping healthcare providers safe.

Remote Patient Monitoring Market Dynamics

Driver: Rising geriatric population and growing need to expand healthcare access

The growth of this population segment will boost the demand for healthcare and long-term care services and greatly increase the burden on governments and health systems. This will prove favorable to the market for remote patient monitoring. Remote patient monitoring can enhance the overall reach of and access healthcare while reducing unnecessary visits, hospital admissions & readmissions, and the time and costs involved in traveling to meet healthcare professionals.

Restraint: Healthcare Fraud

Healthcare fraud is an important consideration in the area of telehealth and telemedicine practices. There are numerous ways a patient or a physician can be victimized—for instance, the physician’s name and accounts can be used to receive payments from the insurance company, or non-eligible or non-listed institutional providers can practice improper coding and billing for false claims.

Challenge: behavioral barriers, healthcare affordability, and the lack of awareness

Behavioral barriers may not be the most obvious restricting factor but still pose significant barriers to telehealth and telemedicine adoption. Physicians and patients often face a lack of familiarity with new practices and do not readily give up existing (conventional) practices. Older people may also refuse to use telehealth and telemedicine services due to unfamiliarity with technology.

Opportunity: high utility of RPM in combating infectious diseases and epidemics

Infectious diseases are among the most difficult conditions to treat in hospital facilities, as both patients and healthcare workers are at equal risk of contracting the infection. In such cases, telemedicine has great potential to limit the spread of epidemics and healthcare-associated infections owing to its inherent benefits, such as the early detection of diseases and virtual visits, consequently reducing overall patient exposure. It certainly reduces the total number of in-person visits and travel included in the process of treatment. It is a safer mode of care delivery and slows down the spread of infectious diseases.

North America accounted for the largest share of the global remote patient monitoring market in 2019.

In 2021, North America accounted for the largest share of the remote patient monitoring market, followed by Europe. The large share of North America in the RPM market can be attributed to the rising incidence and prevalence of chronic conditions, increasing gieratric population and the rising need to reduce healthcare expenditure.

Remote Patient Monitoring (RPM) Market by Region

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Key Market Players

Some of the key players include Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers AG Germany, OMRON Healthcare (Japan), Boston Scientific Corporation (US), Abbott Laboratories (US), Resideo Life Care Solutions (US), Vivify Health, Inc. (US), ALTEN Calsoft Labs (France), Preventice Solutions (US), Bio-Beat Technologies (Israel), VitalConnect (US), Welch Allyn (US), Teladoc Health Inc. (US), Dexcom Inc. (US), iRhythm Technologies, Inc. (US), and VivaLNK Inc. (US).

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Scope of the Report

Report Metric

Details

Market size available for years

2020-2027

Base year considered

2021

Forecast period

2022–2027

Forecast units

Value (USD Billion)

Segments covered

Product, End User, and Region

Geographies covered

North America (US, and Canada), Europe (Germany, France, UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, and RoAPAC), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa)

Companies covered

Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers AG (Germany), OMRON Healthcare (Japan), Boston Scientific Corporation (US), Abbott Laboratories (US), Resideo Life Care Solutions (US), Vivify Health, Inc. (US), ALTEN Calsoft Labs (France), Preventice Solutions (US), Bio-Beat Technologies (Israel), VitalConnect (US), Welch Allyn (US), Teladoc Health Inc. (US), Dexcom Inc. (US), iRhythm Technologies, Inc. (US), and VivaLNK Inc. (US).

The study categorizes the remote patient monitoring market into the following segments and subsegments:

Remote Patient Monitoring Market, By Component

  • Services & Software
  • Devices
    • Cardiac Monitoring Devices
    • Neurological Monitoring Devices
    • Respiratory Monitoring Devices
    • Multiparameter Monitoring Devices
    • Blood Glucose Monitoring Devices
    • Fetal & Neonatal Monitoring Devices
    • Weight Monitoring Devices
    • Other Monitoring Devices

Remote Patient Monitoring Market, By End-user

  • Providers
    • Hospitals and Clinics
    • Home Care Settings and Long Term Care Centers
    • Ambulatory Care Centers
    • Other End Users
    • Passive Exoskeletons
  • Payers
  • Patients
  • Other End Users

Remote Patient Monitoring Market By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America (LATAM)
  • Middle East & Africa

Recent Developments:

  • In 2020, Philips, Launched the Avalon CL Fetal and Maternal Pod and Patch for remote monitoring in the US, Europe, Australia, New Zealand, and Singapore to support fetal and maternal monitoring
  • In 2020, Koninklijke Philips formed collaboration with American Telemedicine Association (ATA) (US). This collaboration helped increase the adoption of telehealth across acute, post-acute, and home care settings.
  • In 2020, BioTelemetry acquired the On.Demand remote patient monitoring (RPM) and coaching platform, operated by Envolve People Care, Inc., which is a Centene Corporation subsidiary. This acquisition expands chronic RPM and coaching solutions to BioTelemetry’s current suite of acute care connected health products and services, focusing specifically on diabetes, hypertension, and chronic heart failure.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 27)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 32)
    2.1 RESEARCH DATA
    2.2 RESEARCH METHODOLOGY STEPS
           FIGURE 1 RESEARCH METHODOLOGY: REMOTE PATIENT MONITORING MARKET
           FIGURE 2 RESEARCH DESIGN
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    FIGURE 3 PRIMARY SOURCES
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Breakdown of primary sources
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
    2.3 MARKET SIZE ESTIMATION
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           FIGURE 6 ESTIMATION OF THE MARKET SIZE FOR REMOTE PATIENT MONITORING SOFTWARE & SERVICES THROUGH THE ADOPTION-BASED APPROACH
           FIGURE 7 ESTIMATION OF THE GLOBAL REMOTE PATIENT MONITORING MARKET SIZE THROUGH THE ADOPTION-BASED APPROACH
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 8 DATA TRIANGULATION METHODOLOGY
    2.5 ASSUMPTIONS FOR THE STUDY
    2.6 COVID-19-SPECIFIC ASSUMPTIONS
    2.7 RISK ASSESSMENT
           TABLE 1 LIMITATIONS AND ASSOCIATED RISKS

3 EXECUTIVE SUMMARY (Page No. - 44)
    FIGURE 9 REMOTE PATIENT MONITORING MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION)
    FIGURE 10 REMOTE PATIENT MONITORING MARKET, BY END USER, 2022 VS. 2027 (USD MILLION)
    FIGURE 11 GEOGRAPHICAL SNAPSHOT OF THE REMOTE PATIENT MONITORING MARKET

4 PREMIUM INSIGHTS (Page No. - 47)
    4.1 REMOTE PATIENT MONITORING: MARKET OVERVIEW
           FIGURE 12 COST BENEFITS OF TELEHEALTH & TELEMEDICINE COUPLED WITH THE RISING TECHNOLOGICAL ADVANCEMENTS IN REMOTE PATIENT MONITORING DEVICES ARE THE KEY GROWTH DRIVERS FOR THIS MARKET
    4.2 REMOTE PATIENT MONITORING MARKET, BY END USER
           FIGURE 13 PROVIDERS ACCOUNTED FOR THE LARGEST SHARE OF THE RPM MARKET IN 2021
    4.3 NORTH AMERICA: REMOTE PATIENT MONITORING MARKET, BY PRODUCT & COUNTRY (2021)
           FIGURE 14 THE US ACCOUNTED FOR THE LARGEST SHARE OF THE MARKET IN NORTH AMERICA FOR REMOTE PATIENT MONITORING IN 2021
    4.4 GEOGRAPHICAL SNAPSHOT OF THE REMOTE PATIENT MONITORING MARKET
           FIGURE 15 ASIA PACIFIC MARKET TO REGISTER THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 50)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 16 REMOTE PATIENT MONITORING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Rising geriatric population and the growing need to expand healthcare access
                                TABLE 2 GLOBAL OVERVIEW OF THE RISE IN AGING POPULATION (MILLION)
                    5.2.1.2 Cost benefits of telehealth and remote patient monitoring
                                TABLE 3 CHRONIC DISEASES AND COST BURDEN IN THE US: POTENTIAL FOR SAVINGS (2020)
                    5.2.1.3 Benefits of RPM to reduce the burden on medical resources
                    5.2.1.4 Advancements in telecommunications
                    5.2.1.5 Increasing investments in telehealth & RPM
           5.2.2 RESTRAINTS
                    5.2.2.1 Regulatory variations across regions
                                TABLE 4 US: STATE-WISE REGULATORY REQUIREMENTS FOR TELEHEALTH
                    5.2.2.2 Healthcare fraud
                    5.2.2.3 Informal usage of social media practices
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Role and impact of AI in remote patient monitoring
                    5.2.3.2 High utility of RPM in combating infectious diseases & epidemics
                    5.2.3.3 Significant opportunities in data monetization of patient data
           5.2.4 CHALLENGES
                    5.2.4.1 Data privacy concerns, healthcare affordability, and limited awareness
                    5.2.4.2 Data accessibility issues
    5.3 IMPACT OF COVID-19 ON THE REMOTE PATIENT MONITORING MARKET
    5.4 PRICING AND REIMBURSEMENT ANALYSIS
           TABLE 5 CPT CDES AND REIMBURSEMENT ANALYSIS OF US RPM MARKET
    5.5 VALUE CHAIN ANALYSIS
           FIGURE 17 REMOTE PATIENT MONITORING MARKET: VALUE CHAIN
    5.6 ECOSYSTEM ANALYSIS
           FIGURE 18 REMOTE PATIENT MONITORING MARKET: ECOSYSTEM ANALYSIS
    5.7 TECHNOLOGY ANALYSIS
           TABLE 6 DIGITAL TECHNOLOGY ENABLERS: BENEFITS AND EXAMPLES IN THE REMOTE PATIENT MONITORING MARKET
    5.8 END-USER ASSESSMENT OF RPM MARKET: US
           5.8.1 DIGITAL TECHNOLOGY ENABLERS: BENEFITS AND EXAMPLES IN THE REMOTE PATIENT MONITORING MARKET
           TABLE 7 ADOPTION OF REMOTE PATIENT MONITORING AMONG END-USERS IN US (%)
    5.9 REMOTE PATIENT MONITORING MARKET: PREVALENT SALES CHANNELS
           FIGURE 19 COMMERCIALISATION STRATEGIES
    5.10 KEY INDUSTRY TRENDS
    5.11 OVERVIEW OF USE CASES
           TABLE 8 REMOTE PATIENT MONITORING USE CASES
           TABLE 9 BASIC AND ADVANCED CAPABILITIES OF RPM SERVICES
    5.12 INTRODUCTION
           TABLE 10 REMOTE PATIENT MONITORING MARKET, BY TYPE, 2020–2027 (USD MILLION)
    5.13 SOFTWARE AND SERVICES
           5.13.1 CONVENIENCE AND THE HIGH UTILITY OF RPM ARE THE KEY FACTORS DRIVING THE DEMAND FOR REMOTE MONITORING SOFTWARE & SERVICES
           TABLE 11 REMOTE PATIENT MONITORING MARKET FOR SOFTWARE AND SERVICES, BY REGION, 2020–2027 (USD MILLION)
           TABLE 12 NORTH AMERICA: REMOTE PATIENT MONITORING MARKET FOR SOFTWARE AND SERVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 13 EUROPE: REMOTE PATIENT MONITORING MARKET FOR SOFTWARE AND SERVICES, BY COUNTRY, 2020–2027 (USD MILLION)
    5.14 DEVICES
           TABLE 14 RPM MARKET FOR DEVICES, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 15 RPM MARKET FOR DEVICES, 2020–2027 (USD MILLION)
           TABLE 16 NORTH AMERICA: RPM MARKET FOR DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 17 EUROPE: RPM MARKET FOR DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           5.14.1 CARDIAC MONITORING DEVICES
                    5.14.1.1 The rising incidence of cardiovascular diseases drives the demand for ECG monitors, thus, driving the market growth in this segment
                                TABLE 18 RPM MARKET FOR CARDIAC MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 19 NORTH AMERICA: RPM MARKET FOR CARDIAC MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 20 EUROPE: RPM MARKET FOR CARDIAC MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 21 RPM MARKET FOR CARDIAC MONITORING DEVICES, BY TYPE, 2020–2027 (USD MILLION)
           5.14.2 BLOOD PRESSURE MONITORING DEVICES
                    5.14.2.1 Convenience and the growing demand for blood pressure meters have ensured high market growth in this segment
                                TABLE 22 RPM MARKET FOR BLOOD PRESSURE MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
           5.14.3 NEUROLOGICAL MONITORING DEVICES
                    5.14.3.1 Growing prevalence of neurological diseases to drive the growth of this segment
                                TABLE 23 RPM MARKET FOR NEUROLOGICAL MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 24 NORTH AMERICA: RPM MARKET FOR NEUROLOGICAL MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 25 EUROPE: RPM MARKET FOR NEUROLOGICAL MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           5.14.4 RESPIRATORY MONITORING DEVICES
                    5.14.4.1 The growing adoption of pulse oximeters for self-monitoring during the COVID-19 pandemic is a key factor driving the market growth of this segment
                                TABLE 26 RPM MARKET FOR RESPIRATORY MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 27 NORTH AMERICA: RPM MARKET FOR RESPIRATORY MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 28 EUROPE: RPM MARKET FOR RESPIRATORY MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           5.14.5 MULTIPARAMETER MONITORING DEVICES
                    5.14.5.1 The increasing prevalence of chronic diseases is a major factor driving the market growth for this segment
                                TABLE 29 RPM MARKET FOR MULTIPARAMETER MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 30 NORTH AMERICA: RPM MARKET FOR MULTIPARAMETER MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 31 EUROPE: RPM MARKET FOR MULTIPARAMETER MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           5.14.6 BLOOD GLUCOSE MONITORING DEVICES
                    5.14.6.1 Growth in the global diabetic population will ensure a strong demand for blood glucose monitoring devices
                                TABLE 32 RPM MARKET FOR BLOOD GLUCOSE MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 33 NORTH AMERICA: RPM MARKET FOR BLOOD GLUCOSE MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 34 EUROPE: RPM MARKET FOR BLOOD GLUCOSE MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           5.14.7 FETAL & NEONATAL MONITORING DEVICES
                    5.14.7.1 Rising number of preterm births globally, to ensure the strong demand for RPM solutions in this segment
                                TABLE 35 RPM MARKET FOR FETAL & NEONATAL MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 36 NORTH AMERICA: RPM MARKET FOR FETAL & NEONATAL MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 37 EUROPE: RPM MARKET FOR FETAL & NEONATAL MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           5.14.8 WEIGHT MONITORING DEVICES
                    5.14.8.1 Rising obesity levels ensure a strong demand for weight monitoring devices, thus driving the market growth for this segment
                                TABLE 38 RPM MARKET FOR WEIGHT MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 39 NORTH AMERICA: RPM MARKET FOR WEIGHT MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 40 EUROPE: REMOTE PATIENT MONITORING : MARKET FOR WEIGHT MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
           5.14.9 OTHER MONITORING DEVICES
                    TABLE 41 REMOTE PATIENT MONITORING : MARKET FOR OTHER MONITORING DEVICES, BY REGION, 2020–2027 (USD MILLION)
                    TABLE 42 NORTH AMERICA: REMOTE PATIENT MONITORING : MARKET FOR OTHER MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 43 EUROPE: REMOTE PATIENT MONITORING : MARKET FOR OTHER MONITORING DEVICES, BY COUNTRY, 2020–2027 (USD MILLION)
    5.15 INTRODUCTION
           TABLE 44 REMOTE PATIENT MONITORING : MARKET, BY END USER, 2020–2027 (USD MILLION)
    5.16 PROVIDERS
           TABLE 45 REMOTE PATIENT MONITORING : MARKET FOR PROVIDERS, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 46 REMOTE PATIENT MONITORING : MARKET FOR PROVIDERS, BY REGION, 2020–2027 (USD MILLION)
           TABLE 47 NORTH AMERICA: REMOTE PATIENT MONITORING : MARKET FOR PROVIDERS, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 48 EUROPE: REMOTE PATIENT MONITORING : MARKET FOR PROVIDERS, BY COUNTRY, 2020–2027 (USD MILLION)
           5.16.1 HOSPITALS AND CLINICS
                    5.16.1.1 Hospitals and clinics contribute to the highest share of the providers market in the remote patient monitoring market in 2021
                                TABLE 49 REMOTE PATIENT MONITORING : MARKET FOR HOSPITALS AND CLINICS, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 50 NORTH AMERICA: REMOTE PATIENT MONITORING : MARKET FOR HOSPITALS AND CLINICS, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 51 EUROPE: REMOTE PATIENT MONITORING : MARKET FOR HOSPITALS AND CLINICS, BY COUNTRY, 2020–2027 (USD MILLION)
           5.16.2 HOME CARE SETTINGS AND LONG-TERM CARE CENTERS
                    5.16.2.1 A rise in the global geriatric population requiring long-term care to support the growth of this end-user segment
                                TABLE 52 REMOTE PATIENT MONITORING : MARKET FOR HOME CARE SETTINGS AND LONG-TERM CARE CENTERS, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 53 NORTH AMERICA: REMOTE PATIENT MONITORING : MARKET FOR HOME CARE SETTINGS AND LONG-TERM CARE CENTERS, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 54 EUROPE: REMOTE PATIENT MONITORING : MARKET FOR HOME CARE SETTINGS AND LONG-TERM CARE CENTERS, BY COUNTRY, 2020–2027 (USD MILLION)
           5.16.3 AMBULATORY CARE CENTRES
                    5.16.3.1 The gradual shift of patient care from inpatient to outpatient settings drives the growth of this end-user segment
                                TABLE 55 REMOTE PATIENT MONITORING : MARKET FOR AMBULATORY CARE CENTERS, BY REGION, 2020–2027 (USD MILLION)
                                TABLE 56 NORTH AMERICA: REMOTE PATIENT MONITORING : MARKET FOR AMBULATORY CARE CENTERS, BY COUNTRY, 2020–2027 (USD MILLION)
                                TABLE 57 EUROPE: REMOTE PATIENT MONITORING : MARKET FOR AMBULATORY CARE CENTERS, BY COUNTRY, 2020–2027 (USD MILLION)
           5.16.4 OTHER PROVIDERS
                    TABLE 58 REMOTE PATIENT MONITORING : MARKET FOR OTHER PROVIDERS, BY REGION, 2020–2027 (USD MILLION)
                    TABLE 59 NORTH AMERICA: REMOTE PATIENT MONITORING : MARKET FOR OTHER PROVIDERS, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 60 EUROPE: REMOTE PATIENT MONITORING : MARKET FOR OTHER PROVIDERS, BY COUNTRY, 2020–2027 (USD MILLION)
    5.17 PAYERS
           5.17.1 INCREASING REIMBURSEMENTS FOR REMOTE PATIENT MONITORING TO DRIVE THE SEGMENT GROWTH
                    TABLE 61 REMOTE PATIENT MONITORING M: ARKET FOR PAYERS, BY REGION, 2020–2027 (USD MILLION)
                    TABLE 62 NORTH AMERICA: REMOTE PATIENT MONITORING : MARKET FOR PAYERS, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 63 EUROPE: REMOTE PATIENT MONITORING MARKET FOR PAYERS, BY COUNTRY, 2020–2027 (USD MILLION)
    5.18 PATIENTS
           5.18.1 COST-BENEFITS AND THE EMERGENCE OF ADVANCED WEARABLE MONITORS TO SUPPORT THE DEMAND FOR RPM DEVICES AMONG PATIENTS
                    TABLE 64 REMOTE PATIENT MONITORING MARKET FOR PATIENTS, BY REGION, 2020–2027 (USD MILLION)
                    TABLE 65 NORTH AMERICA: REMOTE PATIENT MONITORING MARKET FOR PATIENTS, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 66 EUROPE: REMOTE PATIENT MONITORING MARKET FOR PATIENTS, BY COUNTRY, 2020–2027 (USD MILLION)
           5.18.2 OTHER END USERS
                    TABLE 67 REMOTE PATIENT MONITORING MARKET FOR OTHER END USERS, BY REGION, 2020–2027 (USD MILLION)
                    TABLE 68 NORTH AMERICA: REMOTE PATIENT MONITORING MARKET FOR OTHER END USERS, BY COUNTRY, 2020–2027 (USD MILLION)
                    TABLE 69 EUROPE: REMOTE PATIENT MONITORING MARKET FOR OTHER END USERS, BY COUNTRY, 2020–2027 (USD MILLION)

6 REMOTE PATIENT MONITORING MARKET, BY REGION (Page No. - 105)
    6.1 INTRODUCTION
           TABLE 70 RPM MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.2 NORTH AMERICA
           FIGURE 20 NORTH AMERICA: RPM MARKET SNAPSHOT
           TABLE 71 NORTH AMERICA: RPM MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 72 NORTH AMERICA: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 73 NORTH AMERICA: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 74 NORTH AMERICA: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
           TABLE 75 NORTH AMERICA: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.2.1 US
                    6.2.1.1 The US accounted for the largest share of the North American market in 2021
                               TABLE 76 US: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 77 US: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 78 US: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 79 US: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.2.2 CANADA
                    6.2.2.1 The increasing rate of cardiac diseases promotes the adoption of RPM solutions, thus supplementing the market growth in Canada
                               TABLE 80 CANADA: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 81 CANADA: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 82 CANADA: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 83 CANADA: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
    6.3 EUROPE
           FIGURE 21 EUROPE: RPM MARKET SNAPSHOT
           TABLE 84 EUROPE: RPM MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 85 EUROPE: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 86 EUROPE: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 87 EUROPE: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
           TABLE 88 EUROPE: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.3.1 GERMANY
                    6.3.1.1 Rapid digitization of healthcare systems and the rise in the geriatric population are key factors driving the market growth in Germany
                               TABLE 89 GERMANY: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 90 GERMANY: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 91 GERMANY: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 92 GERMANY: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.3.2 FRANCE
                    6.3.2.1 Favorable reimbursements and investments for telehealth is expected to support the market growth in France
                               TABLE 93 FRANCE: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 94 FRANCE: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 95 FRANCE: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 96 FRANCE: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.3.3 UK
                    6.3.3.1 The increasing need to manage healthcare expenditure and a severe shortage of physicians has boosted the adoption of telehealth in the UK
                               TABLE 97 UK: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 98 UK: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 99 UK: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 100 UK: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.3.4 ITALY
                    6.3.4.1 Established telehealth practices and a high density of elderly people in Italy is expected to drive the demand for RPM solutions
                               TABLE 101 ITALY: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 102 ITALY: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 103 ITALY: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 104 ITALY: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.3.5 SPAIN
                    6.3.5.1 A well-organized healthcare system indicates growing opportunities for the adoption of telehealth solutions in Spain
                               TABLE 105 SPAIN: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 106 SPAIN: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 107 SPAIN: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 108 SPAIN: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.3.6 REST OF EUROPE (ROE)
                    TABLE 109 ROE: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                    TABLE 110 ROE: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                    TABLE 111 ROE: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                    TABLE 112 ROE: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
    6.4 ASIA PACIFIC
           TABLE 113 ASIA PACIFIC: RPM MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 114 ASIA PACIFIC: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 115 ASIA PACIFIC: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 116 ASIA PACIFIC: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
           TABLE 117 ASIA PACIFIC: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.4.1 CHINA
                    6.4.1.1 China shows significant growth opportunities for advanced internet-based platforms in the RPM market
                               TABLE 118 CHINA: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 119 CHINA: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 120 CHINA: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 121 CHINA: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.4.2 JAPAN
                    6.4.2.1 Universal healthcare coverage and an established insurance system makes Japan a prominent market for RPM services
                               TABLE 122 JAPAN: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 123 JAPAN: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 124 JAPAN: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 125 JAPAN: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.4.3 INDIA
                    6.4.3.1 Favorable government policies and the high density of population in rural areas support the market growth for RPM solutions in India
                               TABLE 126 INDIA: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 127 INDIA: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 128 INDIA: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 129 INDIA: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.4.4 REST OF ASIA PACIFIC (ROAPAC)
                    TABLE 130 ROAPAC: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                    TABLE 131 ROAPAC: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                    TABLE 132 ROAPAC: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                    TABLE 133 ROAPAC: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
    6.5 LATIN AMERICA
           TABLE 134 LATIN AMERICA: RPM MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
           TABLE 135 LATIN AMERICA: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 136 LATIN AMERICA: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
           TABLE 137 LATIN AMERICA: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
           TABLE 138 LATIN AMERICA: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.5.1 BRAZIL
                    6.5.1.1 Restricting informal consultations on social media to drive the market growth of RPM services in Brazil
                               TABLE 139 BRAZIL: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 140 BRAZIL: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 141 BRAZIL: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 142 BRAZIL: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.5.2 MEXICO
                    6.5.2.1 Increasing government initiatives to improve healthcare infrastructure in Mexico, thus driving the adoption of telehealth solutions
                               TABLE 143 MEXICO: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 144 MEXICO: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 145 MEXICO: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 146 MEXICO: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.5.3 REST OF LATIN AMERICA (ROLATAM)
                    TABLE 147 REST OF LATIN AMERICA: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                    TABLE 148 REST OF LATIN AMERICA: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                    TABLE 149 REST OF LATIN AMERICA: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                    TABLE 150 REST OF LATIN AMERICA: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)
           6.5.4 MIDDLE EAST & AFRICA
                    6.5.4.1 Healthcare infrastructural development and rising government initiatives for the adoption of RPM to drive the market growth in this region
                               TABLE 151 MIDDLE EAST AND AFRICA: RPM MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 152 MIDDLE EAST AND AFRICA: REMOTE PATIENT MONITORING DEVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)
                               TABLE 153 MIDDLE EAST AND AFRICA: RPM MARKET, BY END USER, 2020–2027 (USD MILLION)
                               TABLE 154 MIDDLE EAST AND AFRICA: REMOTE PATIENT MONITORING FOR THE PROVIDERS MARKET, BY TYPE, 2020–2027 (USD MILLION)

7 COMPETITIVE LANDSCAPE (Page No. - 153)
    7.1 OVERVIEW
           FIGURE 22 THE KEY PLAYERS ADOPTED ORGANIC AND INORGANIC GROWTH STRATEGIES BETWEEN 2018 AND 2021
    7.2 MARKET RANKING ANALYSIS, 2021
           FIGURE 23 RPM MARKET, BY KEY PLAYER, 2021
    7.3 COMPETITIVE SCENARIO
           7.3.1 DEALS
           7.3.2 PRODUCT LAUNCHES
           7.3.3 OTHER DEVELOPMENTS

8 COMPANY EVALUATION MATRIX (Page No. - 157)
    8.1 INTRODUCTION
    8.2 COMPANY EVALUATION MATRIX DEFINITIONS AND METHODOLOGY
           TABLE 155 COMPANY EVALUATION MATRIX: CRITERIA
           8.2.1 STARS
           8.2.2 EMERGING LEADERS
           8.2.3 PERVASIVE PLAYERS
           8.2.4 EMERGING COMPANIES
                    FIGURE 24 MNM VENDOR DIVE COMPARISON MATRIX: REMOTE PATIENT MONITORING MARKET
    8.3 COMPANY EVALUATION QUADRANT FOR START-UPS
           8.3.1 PROGRESSIVE COMPANIES
           8.3.2 DYNAMIC COMPANIES
           8.3.3 STARTING BLOCKS
           8.3.4 RESPONSIVE COMPANIES
                    FIGURE 25 COMPANY EVALUATION QUADRANT FOR START-UPS: REMOTE PATIENT MONITORING MARKET
    8.4 COMPETITIVE BENCHMARKING
           8.4.1 COMPANY PRODUCT FOOTPRINT
                    TABLE 156 COMPANY PRODUCT FOOTPRINT
           8.4.2 COMPANY REGION FOOTPRINT
                    TABLE 157 COMPANY REGION FOOTPRINT

9 COMPANY PROFILES (Page No. - 164)
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))* 
    9.1 KONINKLIJKE PHILIPS
           FIGURE 26 KONINKLIJKE PHILIPS: COMPANY SNAPSHOT (2020)
    9.2 MEDTRONIC
           FIGURE 27 MEDTRONIC: COMPANY SNAPSHOT (2020)
    9.3 OMRON HEALTHCARE INC. (A PART OF OMRON CORPORATION)
           FIGURE 28 OMRON CORPORATION: COMPANY SNAPSHOT (2020)
    9.4 GE HEALTHCARE
           FIGURE 29 GE HEALTHCARE: COMPANY SNAPSHOT (2020)
    9.5 CERNER CORPORATION
           FIGURE 30 CERNER CORPORATION: COMPANY SNAPSHOT (2020)
    9.6 SIEMENS HEALTHINEERS AG
           FIGURE 31 SIEMENS HEALTHINEERS: COMPANY SNAPSHOT (2019)
    9.7 BOSTON SCIENTIFIC CORPORATION
           FIGURE 32 BOSTON SCIENTIFIC CORPORATION: COMPANY SNAPSHOT (2020)
    9.8 ABBOTT LABORATORIES
           FIGURE 33 ABBOTT LABORATORIES: COMPANY SNAPSHOT (2020)
    9.9 ALTEN CALSOFT LABS (A SUBSIDIARY OF ALTEN GROUP)
           FIGURE 34 ALTEN GROUP: COMPANY SNAPSHOT (2020)
    9.10 RESIDEO LIFE CARE SOLUTIONS
    9.11 VIVIFY HEALTH, INC.
    9.12 PREVENTICE SOLUTIONS
    9.13 BIO-BEAT TECHNOLOGIES
    9.14 VITALCONNECT
    9.15 OTHER PLAYERS
           9.15.1 WELCH ALLYN (A SUBSIDIARY OF HILL ROM SERVICES, INC.)
           9.15.2 TELEDOC HEALTH INC.
           9.15.3 DEXCOM, INC.
           9.15.4 IRHYTHM TECHNOLOGIES
           9.15.5 VIVALNK INC
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies. 

10 APPENDIX (Page No. - 201)
     10.1 DISCUSSION GUIDE
     10.2 AVAILABLE CUSTOMIZATIONS
     10.3 RELATED REPORTS
     10.4 AUTHOR DETAILS

This market research study involved the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the global blood collection devices market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess market prospects. The size of the blood collection devices market was estimated through various secondary research approaches and triangulated with inputs from primary research to arrive at the final market size.

Secondary Research

The secondary sources referred to for this research study include publications from government sources, such as WHO, ATA, AHA and OECD. Secondary sources also include corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements); business magazines and research journals; press releases; and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall size of the global remote patient monitoring market, which was validated through primary research.             

Primary Research

Extensive primary research was conducted after acquiring basic knowledge about the global remote patient monitoring market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side (such as Individual Physicians, Physician Groups, Hospitals, Clinics and Other Healthcare Facilities, Payers- Private and Public Insurance Bodies, Other End Users- Employer Groups and Government Bodies) and supply-side (such as C-level and D-level executives, product managers, marketing and sales managers of key manufacturers, distributors, and channel partners, among others) across five major regions—North America, Europe, the Asia Pacific, Latin America, Middle East and the Africa. Approximately 70% and 30% of primary interviews were conducted with supply-side and demand-side participants, respectively. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.

Remote Patient Monitoring (RPM) Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the global remote patient monitoring market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The revenue generated from the sale of remote patient monitoring products by leading players has been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size, from the market size estimation process explained above, the remote patient monitoring market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the remote patient monitoring market

Report Objectives

  • To define, describe, segment, and forecast the remote patient monitoring market based on product, end user and region
  • To provide detailed information about the factors influencing market growth, such as drivers, opportunities, restraints and challenges
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall in remote patient monitoring market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, the Asia Pacific (APAC), Middle East and Africa
  • To profile the key players in the global remote patient monitoring market and comprehensively analyze their core competencies3 and market shares
  • To track and analyze competitive developments, such as product launches, expansions, acquisition and partnerships in the remote patient monitoring market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Company information

  • Detailed analysis and profiling of additional market players (up to 20)
Report Code
HIT 7776
Published ON
Mar, 2022
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