Remote Patient Monitoring System Market Worth $16.9 Billion By 2030: Grand View Research, Inc.

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Nov 01, 2022, 08:00 ET

SAN FRANCISCO, Nov. 1, 2022 /PRNewswire/ -- The global remote patient monitoring system market size is expected to reach USD 16.9 billion by 2030, according to a new report by Grand View Research Inc. It is projected to register a CAGR of 18.3% from 2022 to 2030. The COVID-19 pandemic has had a significant impact on the remote patient monitoring system. The main drivers for this market are the increasing geriatric population, cost-effective treatment, and the rising prevalence of chronic conditions. The breakout of COVID-19 has propelled the demand for remote patient monitoring devices and services as healthcare facilities were burdened with COVID-19-infected patients. Key players like Smiths Medical reported that the demand for their home monitoring devices substantially increased during the pandemic.

Key Industry Insights & Findings from the report:

The cardiac rhythm monitor segment is expected to witness a significant CAGR over the forecast period owing to the increasing incidence of cardiac conditions globally.
The home healthcare segment is projected to witness a CAGR of 22.0% over the forecast period owing to a rise in the number of patients accessing remote monitoring due to the COVID-19 pandemic.
In Asia Pacific, the market is expected to showcase high growth potential due to the presence of large unmet needs in emerging economies such as China and India.
This region is also backed by Japan, which has one of the highest numbers of 65+ year old adults at a global level.

Read 172 page full market research report, "Remote Patient Monitoring System Market Size, Share & Trends Analysis Report By Product (Vital Sign Monitors, Specialized Monitors), By End Use, By Application, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Remote Patient Monitoring System Market Growth & Trends

The amalgamation of telehealth with remote patient monitoring services is expected to further boost the market growth. The Asia Pacific is also projected to be a key revenue generator in the coming years. The region is backed by developing countries such as China, South Korea, and Thailand which are witnessing an increase in the number of chronic diseases owing to lifestyle changes. Cardiovascular disease is among the leading cause of death in these countries. The remote patient monitoring system is expected to play a key role in the early detection and timely management of these diseases.

Remote Patient Monitoring System Market Segmentation

Grand View Research has segmented the global remote patient monitoring system market on the basis of product, application, end-use, and region:

Remote Patient Monitoring System Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

Vital Sign Monitors

Blood Pressure Monitors
Pulse Oximeters
Heart Rate Monitor (ECG)
Temperature Monitor
Respiratory Rate Monitor
Brain Monitoring (EEG)

Special Monitors

Anesthesia Monitors
Blood Glucose Monitors
Cardiac Rhythm Monitor
Respiratory Monitor
Fetal Heart Monitors
Prothrombin Monitors
Multi Parameter Monitors (MPM)
Others

Remote Patient Monitoring System Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

Cancer
Cardiovascular Diseases
Diabetes
Sleep Disorder
Weight management and Fitness Monitoring
Bronchitis
Infections
Virus
Dehydration
Hypertension

Remote Patient Monitoring System Market - End-Use Outlook (Revenue, USD Million, 2018 - 2030)

Hospital Based Patients
Ambulatory Patients
Home Healthcare

Remote Patient Monitoring System Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain

Asia Pacific

China
Japan
India
Thailand
South Korea

Latin America

Mexico
Brazil
Argentina
Colombia

South Africa
Saudi Arabia
UAE

List of Key Players of Remote Patient Monitoring System Market

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
NIHON KOHDEN CORPORATION
Omron Corporation
OSI Systems, Inc.
Koninklijke Philips N.V.
F. Hoffmann-La Roche Ltd
Welch Allyn
Smiths Medical
Abbott
Boston Scientific Corporation
Dräger Medical
GE Healthcare
Honeywell
Johnson & Johnson
LifeWatch
Medtronic
Masimo
Vitls, Inc
CareValidate
Biotronik
American Telecare

Check out more related studies published by Grand View Research:

Digital Patient Monitoring Devices Market - The global digital patient monitoring devices market size is expected to reach USD 444.6 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 23.5% from 2021 to 2028. The growth of the market is driven by the rapid adoption of Remote Patient Monitoring (RPM) solutions, technological advancements such as artificial intelligence and Internet-of-things (IoT), and new product launches. Furthermore, rising per capita income and growing awareness among patients are anticipated to positively impact the market.
Patient Monitoring Devices Market - The global patient monitoring devices market size is expected to reach USD 92.8 billion by 2030 and is projected to grow at a CAGR of 7.8%, according to a new report by Grand View Research, Inc. The demand in the market is expected to rise owing to the technological advancements in patient monitoring devices along with the growth in the number of hospital admissions globally.
Patient Monitoring Accessories Market - The global patient monitoring accessories market size is expected to reach USD 10.8 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2020 to 2027. Patient monitoring accessories are supplemental products that are used in conjunction with patient monitoring devices to help healthcare professionals accomplish efficient clinical excellence and ensure a high level of quality patient care. The major aim of patient monitoring is to check vital signs, detect early fatal deterioration, and transfer the data wirelessly. Factors like the rising prevalence of chronic illnesses, rising demand for round the clock checking, and the advent of technologically advanced monitoring products are fueling the market growth.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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