Remote Patient Monitoring Market Growth By Product and End User - Forecast 2025

[Healthcare News]

Market growth influenced due to following factors-

• 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 and increasing investments in telehealth and RPM.

Global market size-

According to market research report the remote patient monitoring market is projected to reach $117.1 billion by 2025, at a CAGR of 38.2% between 2020 and 2025. 

Leading Players-

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

Top Market Segments-

Based on the product, the market is segmented into software & services and devices. The software and services segment accounted for the largest share of the global market in 2019. 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.

Based on end users, the global remote patient monitoring market is broadly segmented into providers, payers, patients, and other end users. The providers segment accounted for the largest share of the global market in 2019. This can be attributed to the increased adoption of remote monitoring in chronically ill and old aged patients, advancements in RPM monitoring devices, and the increasing number of RPM services offered by providers.

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Geographic Overview -

In 2019, North America accounted for the largest share of the remote patient monitoring market, 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.