Remote Patient Monitoring Devices Market Size

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.

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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.