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Remote Patient Monitoring (RPM) Market worth $175.2 Billion by 2027 – Exclusive Report by MarketsandMarkets™

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Remote Patient Monitoring (RPM) Market worth $175.2 Billion by 2027 – Exclusive Report by MarketsandMarkets™

February 24
20:45 2023
Remote Patient Monitoring (RPM) Market worth $175.2 Billion by 2027 - Exclusive Report by MarketsandMarkets™
Prominent players in the RPM Market are 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)
Browse 157 market data Tables and 34 Figures spread through 206 Pages and in-depth TOC on “Remote Patient Monitoring (RPM) 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

The rising geriatric population and the growing need to expand healthcare access, cost benefits of telehealth and remote patient monitoring, benefits of RPM to reduce the burden on medical resources, advancements in telecommunications, growing incidences of chronic diseases, and increasing investments in telehealth and RPM are the major factors driving the growth of this market. 

According to research report the global remote patient monitoring market is projected to reach $175.2 Billion by 2027 from $53.6 Billion in 2022, at a CAGR of 26.7% during the forecast period.

The global remote patient monitoring market is segmented into North America, the Asia Pacific, Europe, Latin America, and the Middle East & Africa. North America (comprising the US, Canada and Mexico) is expected to account for the largest share of the global remote patient monitoring market in 2021, followed by Europe. The large share of North America in the RPM market can be attributed to the rising prevalence of chronic conditions, the need to reduce healthcare expenditure, and the increasing overall & geriatric population. 

Based on the product, the remote patient monitoring market is segmented into software & services and devices. The software and services segment accounted for the largest share of the global remote patient monitoring market in 2021. The large share of this segment is mainly due to the increasing reimbursement for RPM programs and the rising number of chronic illnesses, thus leading to the growing adoption of RPM services across the globe.

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Report Highlights 

  • The new research study comprises the operational drivers for every segment in the remote patient monitoring market.
  • The new research study provides details of the COVID-19 impact on revenues and strategies of the vendors operating in the remote patient monitoring devices.
  • The new research study consist of industry trends of the market
  • The new research study consists of the value chain analysis of the remote patient monitoring market.
  • The new research study consists of the technology analysis of the remote patient monitoring market.
  • The new research study comprises the ecosystem of the remote patient monitoring market.
  • The new research study consists of porter’s five forces analysis
  • The new research study consists of technology analysis
  • The new research study consists of the market size for major countries in all regions.
  • The new research study provides the company evaluation quadrant for 25 companies operating in the remote patient monitoring market.
  • The new research study comprises the startup/SME company evaluation quadrant for companies operating in the remote patient monitoring market.
  • The new research study comprises the profiles of 25 players including startups, as compared to 12 players in the previous study. 

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 remote patient monitoring 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 remote patient monitoring market was estimated through various secondary research approaches and triangulated with inputs from primary research to arrive at the final market size.

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Key Market Players

The prominent players operating in the remote patient monitoring services market include BioTelemetry Inc. (US), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers AG Germany, OMRON Healthcare (Japan), ALTEN Calsoft Labs (France), Preventice Solutions (US), VitalConnect (US), Welch Allyn (US), Teladoc Health Inc. (US), Dexcom Inc. (US), Boston Scientific Corporation (US), Abbott Laboratories (US), Resideo Life Care Solutions (US), Vivify Health, Inc. (US), Bio-Beat Technologies (Israel), iRhythm Technologies, Inc. (US), and VivaLNK Inc. (US)., among others. 

KONINKLIJKE PHILIPS N.V. (NETHERLANDS) Koninklijke Philips N.V. (Netherlands) is the leading player in the remote patient monitoring market. The company’s expertise, experience, and comprehensive capabilities in various industries and business functions enable it to maintain its leading position in the market. The company has a wide global presence with North America, the Asia Pacific, the Middle East, Africa, Latin America, and Europe. The company focuses on achieving sustainable growth by enhancing its operating base and launching competitive technologies.

MEDTRONIC (IRELAND) Medtronic (Ireland) held the second position in the global remote patient monitoring market The company has a wide geographic base—it operates in more than 350 locations in over 150 countries, with subsidiaries in Ireland, Israel, and the US. The company markets many products and care management services, including remote monitoring platforms and patient-centered software. Medtronic focuses on long-term growth strategies of therapy innovation, globalization, and economic value to increase its market share. The company has also demonstrated a commitment to inorganic growth strategies by adopting partnerships, agreements, and collaborations to strengthen its remote patient monitoring market position.

North America is the largest regional market for remote patient monitoringNorth America accounted for the largest share of the remote patient monitoring market, followed by Europe. The large share of North America in the market can be attributed to the rising prevalence of chronic conditions, the need to reduce healthcare expenditure, and the increasing overall & geriatric population.

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