The Remote Patient Monitoring (RPM) Market Size was valued at USD 51.4 billion in 2022, and is expected to reach USD 354.49 billion by 2030 and grow at a CAGR of 27.3% over the forecast period 2023-2030.
Remote Patient Monitoring (RPM) is a rapidly growing market that has gained significant traction in recent years. With the increasing adoption of digital health technologies and the need for remote healthcare services, the RPM market share is expected to witness substantial growth in the coming years.
One of the key factors driving the Remote Patient Monitoring market share is the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders. These conditions require continuous monitoring and management, which can be efficiently achieved through remote patient monitoring systems. The ability to remotely monitor patients' vital signs, medication adherence, and overall health status allows healthcare providers to intervene early and prevent complications, leading to improved patient outcomes.
Furthermore, advancements in technology have made RPM devices more user-friendly and accessible. The integration of wearable devices, mobile applications, and cloud-based platforms has made it easier for patients to monitor their health from the comfort of their homes. This convenience factor has not only increased patient compliance but also reduced healthcare costs by minimizing hospital readmissions and emergency room visits In addition, remote patient monitoring has also shown potential in improving healthcare access for individuals in rural or underserved areas, where access to healthcare facilities may be limited.
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Key Players Covered in report are: Abbott, Boston Scientific Corporation, F. Hoffmann-La Roche Ltd, Koninklijke Philips N.V., Nihon Kohden Corporation, Omron Corporation, Smiths Medical, OSI Systems, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Welch Allyn, and other players.
KEY MARKET SEGMENTATION:
By Component:
· Services & Software
· Devices
o Cardiac Monitoring Devices
o Neurological Monitoring Devices
o Respiratory Monitoring Devices
o Blood Glucose Monitoring Devices
o Weight Monitoring Devices
o Multiparameter Monitoring Devices
o Fetal &Neonatal Monitoring Devices
o Others
By End-Use:
· Providers
o Hospitals & Clinics
o Passive Exoskeletons
o Ambulatory Care Centers
o Home Care Settings & Long-term Care Centers
o Others
· Payers
· Patients
· Other End-Users
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