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Remote Patient Monitoring Devices Market Size

  • Report ID: GMI5563
  • Published Date: Aug 2024
  • Report Format: PDF

Remote Patient Monitoring Devices Market Size

Remote Patient Monitoring Devices Market size was valued at around USD 15.8 billion in 2023 and is estimated to grow at 11.7% CAGR from 2024 to 2032. Remote patient monitoring (RPM) devices are advanced tools that enable the continuous, real-time tracking of patients' health outside traditional clinical settings.

 

These devices, ranging from wearable sensors to implantable and handheld instruments, monitor various physiological parameters such as heart rate, blood pressure, and glucose levels. The data is transmitted wirelessly to healthcare providers, allowing for real-time health assessments, improved patient engagement, reduced hospital readmissions, and support for value-based healthcare models.

 

The rising incidence of chronic diseases, such as diabetes, cardiovascular diseases, cancer, and chronic kidney disease (CKD), is a significant driver of market growth. For instance, according to a report from the World Heart Federation (WHF), global deaths from cardiovascular disease (CVD) surged to 20.5 million in 2021. CVD was the leading cause of death worldwide in 2021, with 80% of these deaths occurring in low- and middle-income countries (LMICs). This underscores the growing need for remote patient monitoring devices to enable early detection, continuous management, and timely intervention in managing cardiovascular conditions.

 

Additionally, growing disposable income and healthcare expenditure in emerging countries, along with technological advancements in developed nations, and the increasing adoption of remote patient monitoring devices, are key factors driving market growth.

 

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Remote patient monitoring devices industry size was valued USD 15.8 billion in 2023 and will expand at 11.7% CAGR between 2024 and 2032, owing to the increasing prevalence of chronic diseases, aging populations, and the rising demand for home-based healthcare solutions.

The cardiac devices segment will reach USD 9.8 billion by 2032, fueled by the high prevalence of cardiovascular diseases globally.

U.S. remote patient monitoring devices industry will garner USD 14.8 billion by 2032 due to advanced healthcare infrastructure, high prevalence of chronic diseases, and strong adoption of telehealth solutions.

Key players operating in the remote patient monitoring devices industry are Abbott Laboratories, Cerner Corporation, Baxter International Inc., Boston Scientific Corporation, DexCom, Inc., F. Hoffmann-La Roche Ltd, General Electric Company, Johnson & Johnson, Koninklijke Philips N.V, Medtronic plc, OMRON Corporation, Siemens Healthineers AG, and VitalConnect, among others.

Remote Patient Monitoring Devices Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 298
  • Countries covered: 31
  • Pages: 210
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