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:

• This report provides an in-depth analysis of the global remote patient monitoring devices market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global remote patient monitoring devices market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study includes Abbott Laboratories, GE Healthcare, Omron Healthcare, Medtronic PLC, Nihon Kohden Corporation, Smiths Medical, Philips Healthcare, F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., Siemens Healthcare GmbH, Cerena Corporation., BPL Group, Mindray Medical International Limited, Drägerwerk AG & Co. KGaA, and Schiller.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global remote patient monitoring devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global remote patient monitoring devices market.

Market Segmentation

• Device Type:
  • Cardiac Monitoring Devices
  • Respiratory Monitoring Devices
  • Blood Glucose Monitoring Devices 
  • Blood Pressure Monitoring Devices
  • Neuro-monitoring Device
  • Multi-parameter Monitor
  • Other Devices
• Application:
  • Oncology
  • Cardiology
  • Hypertension
  • Chronic Respiratory Diseases
  • Neurology
  • Diabetes
  • Others
• End User:
  • Home Healthcare Settings
  • Hospitals & Clinics
  • Ambulatory Care Centers
  • Others
• Region:                    
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • Abbott Laboratories
  • GE Healthcare
  • Omron Healthcare
  • Medtronic PLC
  • Nihon Kohden Corporation
  • Smiths Medical
  • Philips Healthcare
  • Hoffmann-La Roche Ltd.
  • Koninklijke Philips N.V.
  • Siemens Healthcare GmbH
  • Cerena Corporation.
  • BPL Group
  • Mindray Medical International Limited
  • Drägerwerk AG & Co. KGaA
  • Schiller