Remote Patient Monitoring Devices Market
The global remote patient monitoring devices market is estimated to be valued at USD 12.37 Bn in 2024 and is expected to exhibit a CAGR of 15.7% during the forecast period (2024-2031). The remote patient monitoring devices market has witnessed significant growth in the recent past owing to the increasing prevalence of chronic diseases and the need to curb rising healthcare costs. Remote patient monitoring involves the use of various digital technologies to monitor patients’ health outside of conventional clinical settings such as clinics and hospitals. This helps reduce the need for frequent visits to hospitals and lengthy stays, improving access and experience for patients. Remote monitoring devices allow patients to remain at home while their vitals are remotely tracked by healthcare providers. This helps providers step in before conditions worsen, leading to better management of chronic diseases. The growing geriatric population who are more vulnerable to chronic illnesses is another factor driving the increased adoption of remote monitoring solutions.
Market Dynamics:
The remote patient monitoring devices market is growing due to factors such as the rising prevalence of chronic diseases, need to reduce healthcare costs, increasing geriatric population, and policy support and reimbursements for remote patient monitoring services. However, data privacy and security concerns related to remote devices as well as resistance from healthcare providers to adopt new technologies are some challenges restraining the market growth. Meanwhile, newer applications of remote monitoring, such as in telehealth and mHealth, are opening up opportunities for wider market penetration. Market leaders are investing in innovations to overcome barriers and develop more user-friendly RPM platforms integrating multiple vital parameters for improved patient care.
Key Features of the Study:
Market Segmentation
Table of Contents
*Browse 25 market data tables and 29 figures on “Patient Monitoring Devices Market”- Global forecast to 2031
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