Remote Patient Monitoring Market

Remote Patient Monitoring Companies - Koninklijke Philips N.V. (Netherlands) and Medtronic (Ireland) are the Leading Players

The global remote patient monitoring market is projected to reach USD 207.5 billion by 2028 from USD 71.9 billion in 2023, at a CAGR of 23.6% between 2023 and 2028. The aging population and the increasing need for healthcare access are driving the growth of the telehealth and remote patient monitoring (RPM) market. Telehealth and RPM offer cost benefits and can reduce the burden on medical resources. However, regulatory variations across regions may restrain market growth.

Key Players:

  • Koninklijke Philips N.V. (Netherlands),
  • Medtronic (Ireland),
  • Omron Healthcare (Japan),
  • Clear Arch, Inc (US),
  • TytoCare Ltd. (US), and many more....

These key players are adopting different growth strategies to retain their places in the global remore patient monitoring industry.

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Koninklijke Philips N.V. (Netherlands):

Philips is the leader in the remote patient monitoring market. Its expertise, experience, and wide range of capabilities in various industries and business functions allow it to stay ahead of the competition. Philips is present all over the world, including in North America, the Asia Pacific, the Middle East, Africa, Latin America, and Europe. The company operates in four reportable segments, namely, Diagnosis and treatment business, Connected care business, personal health business, and others. Remote patient monitoring devices are offered through Connected care businesses. The company focused on product approvals and collaborations to strengthen its product portfolio and revenue growth.

Medtronic (Ireland):

Medtronic is a global healthcare technology company headquartered in Dublin, Ireland, is the leader in the field. It serves healthcare systems, doctors, clinicians, and patients in over 150 countries worldwide. Medtronic has four operating and reportable segments that develop, manufacture, distribute, and sell device-based medical therapies and services: the Cardiovascular Portfolio, the Medical Surgical Portfolio, the Neuroscience Portfolio, and the Diabetes Operating Unit. The company provides telehealth solutions through all of its segments.

Medtronic focuses on product approvals and partnerships to strengthen its product portfolio. In September 2022, Medtronic announced that the LINQ II Insertable Cardiac Monitor (ICM) system is the first and only ICM to receive 510(k) clearance from the U.S. Food and Drug Administration (FDA) for use in pediatric patients over the age of 2 who have heart rhythm abnormalities and require long-term, continuous monitoring.

Omron Healthcare, Inc. (Japan):

Omron develops and sells health equipment for home and medical use, including blood pressure monitors, body composition monitors, digital thermometers, and electric toothbrushes. It provides remote patient monitoring services and solutions. The company's key remote patient monitoring product is Vitalsight, a program that allows patients to take in-home blood pressure and/or weight measurements. OMRON Healthcare stands as the preeminent global brand in the digital blood pressure monitor industry, having successfully sold over 200 million BPMs worldwide. Within the regions of Europe, Middle East, and Africa, it reigns supreme as the foremost brand in the realm of blood pressure monitors. It operates in the Asia Pacific, China, Europe, the US, Japan, South Korea, Taiwan, and Brazil. OMRON Healthcare Europe B.V. is the healthcare division for Europe, Russia, Middle East, and Africa and provides service to customers in more than 74 countries. In July 2020, the company collaborated with EPIC Health, to address health inequities and reduce heart attack and stroke risk in underserved Detroit communities. The program will feature VitalSight, OMRON’s first remote patient monitoring service designed specifically for patients afflicted by high blood pressure and especially those with uncontrolled Stage 2 hypertension.

Following are some of the global manufacturers in the global remote patient monitoring industry:

  • Philips Healthcare (Netherlands),
  • Abbott Laboratories (United States),
  • Biotricity Inc. (United States),
  • ResMed Inc. (United States),
  • BioTelemetry Inc. (United States),
  • Boston Scientific Corporation (United States),
  • Masimo Corporation (United States), and many more....

Philips Healthcare (Netherlands):

Philips Healthcare is a leading provider of remote patient monitoring solutions, offering a range of connected health devices and telehealth platforms. Their portfolio includes wearable health trackers, home monitoring devices, and cloud-based telemedicine solutions for remote patient management.

Abbott Laboratories (United States):

Abbott Laboratories manufactures a variety of remote patient monitoring devices and telehealth solutions for continuous health monitoring and management. Their portfolio includes remote cardiac monitors, blood glucose meters, and mobile health apps for remote patient engagement and care coordination.

Biotricity Inc. (United States):

Biotricity Inc. specializes in remote patient monitoring solutions for cardiovascular health, offering wearable cardiac monitoring devices and cloud-based remote monitoring platforms. Their products enable real-time transmission of ECG data, arrhythmia detection, and proactive intervention for cardiac patients.

ResMed Inc. (United States):

ResMed Inc. is a global leader in remote patient monitoring solutions for sleep apnea and chronic respiratory diseases. They offer home sleep apnea diagnostic devices, continuous positive airway pressure (CPAP) machines, and cloud-connected respiratory therapy devices for remote patient monitoring and therapy optimization.

BioTelemetry Inc. (United States):

BioTelemetry Inc. provides remote cardiac monitoring solutions for arrhythmia detection, cardiac event monitoring, and mobile cardiac telemetry. Their remote monitoring devices and services enable continuous ECG monitoring and remote transmission of cardiac data for timely diagnosis and intervention.

Boston Scientific Corporation (United States):

Boston Scientific Corporation manufactures remote patient monitoring devices for cardiac rhythm management and implantable medical devices. Their remote monitoring systems enable healthcare providers to remotely monitor patients with implantable pacemakers, defibrillators, and cardiac resynchronization therapy (CRT) devices.

Masimo Corporation (United States):

Masimo Corporation specializes in remote patient monitoring solutions for continuous vital signs monitoring, pulse oximetry, and non-invasive patient monitoring. Their portfolio includes wireless monitoring devices, remote monitoring platforms, and cloud-based data analytics for remote patient surveillance and early intervention.

Related Reports:

Remote Patient Monitoring (RPM) Market by Product (Software, Services, Devices, Cardiology, Neurological, BP Monitors, Neonatal, Weight, Temperature, Neuro) End user (Providers, Hospitals, Clinics, Home care, Patients, Payers) - Global Forecast to 2028

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Remote Patient Monitoring Market Size,  Share & Growth Report
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