Remote Patient Monitoring (RPM) Market

The remote patient monitoring market is projected to reach USD 66.33 billion by 2031 from USD 36.29 billion in 2026, at a high CAGR of 12.8% during the forecast period. Government-led digital healthcare initiatives and reimbursement support are playing a crucial role in accelerating the adoption of remote patient monitoring. According to a 2025 US Department of Veterans Affairs (VA) privacy impact assessment, the Medtronic RPM/Home Telehealth system is currently used to remotely monitor more than 45,000 veterans using connected devices, mobile applications, video platforms, and AI-supported care coordination systems. The US government is also strengthening RPM adoption through Medicare reimbursement support. According to the US Department of Health and Human Services Office of Inspector General (OIG), Medicare spending on remote patient monitoring exceeded USD 500 million in 2024, reflecting rapidly increasing adoption of connected monitoring services across chronic disease management programs.

The remote patient monitoring market is dominated by Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), OMRON Healthcare, Inc. (Japan), GE Healthcare (US), Oracle (US), Boston Scientific Corporation (US), Abbott (US), and others. These players have employed a range of organic and inorganic strategies, including collaborations, acquisitions, product launches, partnerships, agreements, and expansions, to strengthen their international footprint and capture a larger share of the remote patient monitoring market. These organic and inorganic strategies have allowed the market to expand across geographies by offering coding solutions.

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In September 2025, Philips launched a smart telemetry platform featuring the next-generation Telemetry Monitor 5500, a wearable touchscreen monitor that integrates with Philips' Central Monitoring Unit and the Mobile Cardiac Telemetry (MCOT) system to enable continuous. In October 2025, Philips and Hoag announced a 10-year strategic collaboration to standardize and modernize patient monitoring across Hoag's acute care hospitals.

Koninklijke Philips N.V. (Netherlands)

Koninklijke Philips N.V. (Royal Philips) is the parent company of the Philips Group. The company works in four areas: Personal Health, Diagnosis & Treatment, Connected Care, and Others. The company aims to grow both organically and by acquiring other businesses to expand its market presence. Strategic partnerships in high-potential markets and collaborations have been Philips’ key growth strategy over the years. For example, in July 2024, Bon Secours Mercy Health (US) announced a 10-year partnership with Philips to implement and scale a new patient monitoring platform across its 49 hospitals and 1,200 care sites. Philips has partnered with many major healthcare companies and promising AI startups across different regions. In April 2024, Philips collaborated with smartQare (Netherlands) to combine their monitoring systems. This will allow patients to be continuously monitored in and out of the hospital using wearable biosensors. Some of its major subsidiaries are Philips Oral Healthcare, LLC (US), Philips GmbH (Germany), Philips Ultrasound, Inc. (US), and Philips Consumer Lifestyle B.V. (Netherlands). It spans operations across North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

Medtronic (Ireland)

Medtronic is a global healthcare technology company based in Dublin, Ireland. It is an industry leader. The company helps healthcare systems, doctors, clinicians, and patients in more than 150 countries worldwide. It operates through four main business areas: Cardiovascular, Neuroscience, Medical Surgical, and Diabetes. The Cardiovascular segment focuses on managing heart rhythms, treating heart structures, and addressing issues with blood vessels. Neuroscience has various products for surgeries on the spine and brain, and for treating brain-related problems. The Medical Surgical part offers surgical tools, robots that help with surgery, and tools for looking inside the body. Finally, the Diabetes section offers advanced insulin pumps, continuous blood sugar monitoring systems, and smart insulin pens for managing Type 1 and Type 2 diabetes.

MARKET RANKING

Five major companies lead the competitive landscape of the remote patient monitoring market: GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Abbott (US), OMRON Healthcare, Inc. (Japan), and Medtronic (Ireland), shaping market evolution through differentiated strategies and sustained technology investment. Companies' portfolios include connected devices, AI-enabled analytics, cloud-based monitoring platforms, and virtual care solutions for chronic disease management. These companies are focusing on improving real-time patient data tracking, reducing hospital readmissions, and enabling home-based care through integrated digital health ecosystems and telehealth-enabled monitoring solutions.

Related Reports:

Remote Patient Monitoring (RPM) Market by Offering [Software, Device (Wearable, Implants, Handheld)], Function (Cardiac, Glucose, Multiparameter), Application (Diabetes, Cardio, Neuro), End User (Hospital, ASC, Pharma & Biotech) - Global Forecast to 2031

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