The global remote patient monitoring devices market size is expected to surpass US$ 3.2 Bn by 2027 and projected to expand at a CAGR of 12.2% from 2021 to 2027.
Remote patient monitoring (RPM) is a method of healthcare delivery that uses the latest advances in information technology to acquire patient data, a part of traditional healthcare settings. The COVID-19 pandemic, connected health, and RPM are more important, as they enable physicians to monitor patients without having to come into contact with them, thus preventing the spread of the novel coronavirus.
The market growth can be largely attributed to factors such as advancements in technology, increasing focus on improving public health, rising consumer awareness regarding the benefits of remote patient monitoring devices, and dwindling prices of remote patient monitoring devices. Furthermore, several traditional medical device manufacturers are gradually expanding their product portfolio and focusing on the launch of remote patient monitoring devices integrated with advanced technologies, including the IoT due to which, the demand for remote patient monitoring devices is likely to gain further momentum.
In terms of product, the global remote patient monitoring devices market has been bifurcated into vital sign monitors and special monitors. The vital sign monitors segment has been divided into heart rate monitors (ECG), blood pressure monitors, respiratory rate monitors, brain monitoring (EEG), temperature monitors, pulse oximeters, and others. The heart rate monitors (ECG) segment accounted for a major share of the global remote patient monitoring devices market in 2019. The segment is anticipated to expand at a high CAGR during the forecast period, owing to rise in the demand for detection of proper parameters and prevention of the disease across the world. The special monitors segment has been further divided into blood glucose monitors, fetal heart monitors, multi-parameter monitors (MPM), anesthesia monitors, prothrombin monitors, and others.
Based on application, the global remote patient monitoring devices market has been classified into cardiovascular diseases, diabetes, cancer, hypertension, infections, bronchitis, dehydration, sleep disorder, weight management and fitness monitoring, and others. The cardiovascular diseases segment held a significant share of the global remote patient monitoring devices market in 2019. In terms of end user, the global remote patient monitoring devices market has been classified into hospital-based patients, homecare, ambulatory patients, and others. The hospital-based patients segment held significant share of the global remote patient monitoring devices market in 2019.
Prominent Regions
North America held a major share of the global remote patient monitoring devices market in 2019. The presence of key players and growth strategies adopted by these players are major factors driving the remote patient monitoring devices market in the region. Rise in awareness about the benefits of prevention of diseases and increase in healthcare expenditure augment the remote patient monitoring devices market in North America. Asia Pacific held the second-largest share of the global remote patient monitoring devices market in 2019. The expansion of the remote patient monitoring devices market in Asia Pacific can be attributed to rise in infectious diseases and well-developed healthcare sector in the region. The remote patient monitoring devices market in Asia Pacific is likely to expand at a rapid pace during the forecast period. The development of remote patient monitoring devices and other pharma products to cope with disease concerns, and rise in awareness leading to routine checkup and diagnosis are major factors that are anticipated to fuel the remote patient monitoring devices market in the region.
Demand on Rise amid COVID-19 Pandemic
The outbreak of the novel COVID-19 pandemic is expected to provide a considerable boost to the global remote patient monitoring devices market in 2020. Due to considerable rise in the number of COVID-19 patients across hospitals and medical centers worldwide, the demand for remote patient monitoring devices witnessed steady growth. The demand for remote patient monitoring devices witnessed a major rise, especially among patients suffering from chronic diseases. The lack of clear access coupled with uncertainty involved with hospital visits due to the fear of contracting the COVID-19 infection is another factor that is likely to play a key role in boosting the growth of the remote patient monitoring devices market in 2020.
Device Makers Focus on Product Launches to Increase Market Share
Witnessing the growing adoption of remote patient monitoring devices, a number of players in the remote patient monitoring devices market is primarily focusing on expanding their product portfolio and launching remote patient monitoring devices to expand their market share. For instance, in August 2020, Stasis Lab launched an app-connected remote monitoring platform in the U.S. wherein six vital signs of the body can be efficiently monitored in a remote setting. Similarly, in August 2020, Validic announced the launch of a new remote patient monitoring solution that does not require additional EHR integration.
Key Players
Key players are expanding their footprint to consolidate their positions in the global remote patient monitoring devices market. The greater emphasis on prevention and wellness by healthcare professionals and owners presents lucrative opportunities to key players to increase their share of the global remote patient monitoring devices market. Hence, manufacturers are engaging in new product developments, collaborations and distribution to gain market share.
Leading players operating in the global remote patient monitoring devices market include Koninklijke Philips N.V., GE Healthcare, Boston Scientific Corporation, Omron Healthcare, Medtronic Plc., Welch Allyn, Abbott Laboratories, Masimo Corporation, Hoffmann-La Roche Ltd., and Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Market Segmentation
By Product
By Application
By End User
By Region
Scope of the Report
VRR’s report on the global remote patient monitoring devices market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2027. The report provides the revenue of the global remote patient monitoring devices market for the period 2020–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global remote patient monitoring devices market during the forecast period.
The report has been prepared after extensive primary and secondary researches. Primary research involves bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ vaccines, annual reports, press releases, and relevant documents to understand the global remote patient monitoring devices market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global remote patient monitoring devices market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global remote patient monitoring devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global remote patient monitoring devices market.
The report delves into the competition landscape of the global remote patient monitoring devices market. Key players operating in the global remote patient monitoring devices market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global remote patient monitoring devices market that have been profiled in this report.
Key Questions Answered in Remote Patient Monitoring Devices Market Report
Research Methodology
A unique research methodology has been utilized by VRR to conduct a comprehensive research on the growth of the global remote patient monitoring devices market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the global remote patient monitoring devices market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, device portfolio managers, CEOs, VPs, and market intelligence managers who contributed to VRR’s study on the global remote patient monitoring devices market’s primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from remote patient monitoring devices market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global remote patient monitoring devices market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global remote patient monitoring devices market more reliably and accurately.
Table of Content
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Remote Patient Monitoring Devices Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Remote Patient Monitoring Devices Market Analysis and Forecast, 2018–2027
4.4.1. Market Revenue Projections (US$ Mn)
4.5. Porter’s Five Force Analysis
5. Key Insights
5.1. Pricing Analysis
5.2. Technological Advancements
5.3. Key Industry Events (Mergers, Acquisitions, Collaborations, Partnerships, etc.)
5.4. COVID-19 Pandemic Impact on Industry (Value Chain and Short / Mid / Long Term Impact)
6. Global Remote Patient Monitoring Devices Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Global Remote Patient Monitoring Devices Market Value Forecast, by Product, 2018–2027
6.3.1. Vital Sign Monitors
6.3.1.1. Heart Rate Monitors (ECG)
6.3.1.2. Blood Pressure Monitors
6.3.1.3. Respiratory Rate Monitors
6.3.1.4. Brain Monitoring (EEG)
6.3.1.5. Temperature Monitors
6.3.1.6. Pulse Oximeters
6.3.1.7. Others
6.3.2. Special Monitors
6.3.2.1. Blood Glucose Monitors
6.3.2.2. Fetal Heart Monitors
6.3.2.3. Multi-Parameter Monitors(MPM)
6.3.2.4. Anesthesia Monitors
6.3.2.5. Prothrombin Monitors
6.3.2.6. Others
6.4. Global Remote Patient Monitoring Devices Market Attractiveness Analysis, by Product
7. Global Remote Patient Monitoring Devices Market Analysis and Forecast, by Application
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Global Remote Patient Monitoring Devices Market Value Forecast, by Application, 2018–2027
7.3.1. Cardiovascular Diseases
7.3.2. Diabetes
7.3.3. Cancer
7.3.4. Hypertension
7.3.5. Infections
7.3.6. Bronchitis
7.3.7. Dehydration
7.3.8. Sleep Disorder
7.3.9. Weight Management and Fitness Monitoring
7.3.10. Others
7.4. Global Remote Patient Monitoring Devices Market Attractiveness Analysis, by Application
8. Global Remote Patient Monitoring Devices Market Analysis and Forecast, by End-user
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Global Remote Patient Monitoring Devices Market Value Forecast, by End-user, 2018–2027
8.3.1. Hospital-based Patients
8.3.2. Homecare
8.3.3. Ambulatory Patients
8.3.4. Others
8.4. Global Remote Patient Monitoring Devices Market Attractiveness Analysis, by End-user
9. Global Remote Patient Monitoring Devices Market Analysis and Forecast, by Region
9.1. 10.1. Key Findings
9.2. 10.2. Market Value Forecast, by Region
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Global Remote Patient Monitoring Devices Market Attractiveness Analysis, by Region
10. North America Remote Patient Monitoring Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. North America Remote Patient Monitoring Devices Market Value Forecast, by Product, 2018–2027
10.2.1. Vital Sign Monitors
10.2.1.1. Heart Rate Monitors (ECG)
10.2.1.2. Blood Pressure Monitors
10.2.1.3. Respiratory Rate Monitors
10.2.1.4. Brain Monitoring (EEG)
10.2.1.5. Temperature Monitors
10.2.1.6. Pulse Oximeters
10.2.1.7. Others
10.2.2. Special Monitors
10.2.2.1. Blood Glucose Monitors
10.2.2.2. Fetal Heart Monitors
10.2.2.3. Multi-Parameter Monitors(MPM)
10.2.2.4. Anesthesia Monitors
10.2.2.5. Prothrombin Monitors
10.2.2.6. Others
10.3. North America Remote Patient Monitoring Devices Market Value Forecast, by Application, 2018–2027
10.3.1. Cardiovascular Diseases
10.3.2. Diabetes
10.3.3. Cancer
10.3.4. Hypertension
10.3.5. Infections
10.3.6. Bronchitis
10.3.7. Dehydration
10.3.8. Sleep Disorder
10.3.9. Weight Management and Fitness Monitoring
10.3.10. Others
10.4. North America Remote Patient Monitoring Devices Market Value Forecast, by End-user, 2018–2027
10.4.1. Hospital-based Patients
10.4.2. Homecare
10.4.3. Ambulatory Patients
10.4.4. Others
10.5. North America Remote Patient Monitoring Devices Market Value Forecast, by Country, 2018–2027
10.5.1. U.S.
10.5.2. Canada
10.6. North America Remote Patient Monitoring Devices Market Attractiveness Analysis
10.6.1. By Product
10.6.2. By Application
10.6.3. By End-user
10.6.4. By Country
11. Europe Remote Patient Monitoring Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Europe Remote Patient Monitoring Devices Market Value Forecast, by Product, 2018–2027
11.2.1. Vital Sign Monitors
11.2.1.1. Heart Rate Monitors (ECG)
11.2.1.2. Blood Pressure Monitors
11.2.1.3. Respiratory Rate Monitors
11.2.1.4. Brain Monitoring (EEG)
11.2.1.5. Temperature Monitors
11.2.1.6. Pulse Oximeters
11.2.1.7. Others
11.2.2. Special Monitors
11.2.2.1. Blood Glucose Monitors
11.2.2.2. Fetal Heart Monitors
11.2.2.3. Multi-Parameter Monitors(MPM)
11.2.2.4. Anesthesia Monitors
11.2.2.5. Prothrombin Monitors
11.2.2.6. Others
11.3. Europe Remote Patient Monitoring Devices Market Value Forecast, by Application, 2018–2027
11.3.1. Cardiovascular Diseases
11.3.2. Diabetes
11.3.3. Cancer
11.3.4. Hypertension
11.3.5. Infections
11.3.6. Bronchitis
11.3.7. Dehydration
11.3.8. Sleep Disorder
11.3.9. Weight Management and Fitness Monitoring
11.3.10. Others
11.4. Europe Remote Patient Monitoring Devices Market Value Forecast, by End-user, 2018–2027
11.4.1. Hospital-based Patients
11.4.2. Homecare
11.4.3. Ambulatory Patients
11.4.4. Others
11.5. Europe Remote Patient Monitoring Devices Market Value Forecast, by Country/Sub-region, 2018–2027
11.5.1. Germany
11.5.2. U.K.
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Rest of Europe
11.6. Europe Remote Patient Monitoring Devices Market Attractiveness Analysis
11.6.1. By Product
11.6.2. By Application
11.6.3. By End-user
11.6.4. By Country/Sub-region
12. Asia Pacific Remote Patient Monitoring Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Asia Pacific Remote Patient Monitoring Devices Market Value Forecast, by Product, 2018–2027
12.2.1. Vital Sign Monitors
12.2.1.1. Heart Rate Monitors (ECG)
12.2.1.2. Blood Pressure Monitors
12.2.1.3. Respiratory Rate Monitors
12.2.1.4. Brain Monitoring (EEG)
12.2.1.5. Temperature Monitors
12.2.1.6. Pulse Oximeters
12.2.1.7. Others
12.2.2. Special Monitors
12.2.2.1. Blood Glucose Monitors
12.2.2.2. Fetal Heart Monitors
12.2.2.3. Multi-Parameter Monitors(MPM)
12.2.2.4. Anesthesia Monitors
12.2.2.5. Prothrombin Monitors
12.2.2.6. Others
12.3. Asia Pacific Remote Patient Monitoring Devices Market Value Forecast, by Application, 2018–2027
12.3.1. Cardiovascular Diseases
12.3.2. Diabetes
12.3.3. Cancer
12.3.4. Hypertension
12.3.5. Infections
12.3.6. Bronchitis
12.3.7. Dehydration
12.3.8. Sleep Disorder
12.3.9. Weight Management and Fitness Monitoring
12.3.10. Others
12.4. Asia Pacific Remote Patient Monitoring Devices Market Value Forecast, by End-user, 2018–2027
12.4.1. Hospital-based Patients
12.4.2. Homecare
12.4.3. Ambulatory Patients
12.4.4. Others
12.5. Asia Pacific Remote Patient Monitoring Devices Market Value Forecast, by Country/Sub-region, 2018–2027
12.5.1. China
12.5.2. Japan
12.5.3. India
12.5.4. Australia & New Zealand
12.5.5. Rest of Asia Pacific
12.6. Asia Pacific Remote Patient Monitoring Devices Market Attractiveness Analysis
12.6.1. By Product
12.6.2. By Application
12.6.3. By End-user
12.6.4. By Country/Sub-region
13. Latin America Remote Patient Monitoring Devices Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Latin America Remote Patient Monitoring Devices Market Value Forecast, by Product, 2018–2027
13.2.1. Vital Sign Monitors
13.2.1.1. Heart Rate Monitors (ECG)
13.2.1.2. Blood Pressure Monitors
13.2.1.3. Respiratory Rate Monitors
13.2.1.4. Brain Monitoring (EEG)
13.2.1.5. Temperature Monitors
13.2.1.6. Pulse Oximeters
13.2.1.7. Others
13.2.2. Special Monitors
13.2.2.1. Blood Glucose Monitors
13.2.2.2. Fetal Heart Monitors
13.2.2.3. Multi-Parameter Monitors(MPM)
13.2.2.4. Anesthesia Monitors
13.2.2.5. Prothrombin Monitors
13.2.2.6. Others
13.3. Latin America Remote Patient Monitoring Devices Market Value Forecast, by Application, 2018–2027
13.3.1. Cardiovascular Diseases
13.3.2. Diabetes
13.3.3. Cancer
13.3.4. Hypertension
13.3.5. Infections
13.3.6. Bronchitis
13.3.7. Dehydration
13.3.8. Sleep Disorder
13.3.9. Weight Management and Fitness Monitoring
13.3.10. Others
13.4. Latin America Remote Patient Monitoring Devices Market Value Forecast, by End-user, 2018–2027
13.4.1. Hospital-based Patients
13.4.2. Homecare
13.4.3. Ambulatory Patients
13.4.4. Others
13.5. Latin America Remote Patient Monitoring Devices Market Value Forecast, by Country/Sub-region, 2018–2027
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Remote Patient Monitoring Devices Market Attractiveness Analysis
13.6.1. By Product
13.6.2. By Application
13.6.3. By End-user
13.6.4. By Country/Sub-region
14. Middle East & Africa Remote Patient Monitoring Devices Market Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Middle East & Africa Remote Patient Monitoring Devices Market Value Forecast, by Product, 2018–2027
14.2.1. Vital Sign Monitors
14.2.1.1. Heart Rate Monitors (ECG)
14.2.1.2. Blood Pressure Monitors
14.2.1.3. Respiratory Rate Monitors
14.2.1.4. Brain Monitoring (EEG)
14.2.1.5. Temperature Monitors
14.2.1.6. Pulse Oximeters
14.2.1.7. Others
14.2.2. Special Monitors
14.2.2.1. Blood Glucose Monitors
14.2.2.2. Fetal Heart Monitors
14.2.2.3. Multi-Parameter Monitors(MPM)
14.2.2.4. Anesthesia Monitors
14.2.2.5. Prothrombin Monitors
14.2.2.6. Others
14.3. Middle East & Africa Remote Patient Monitoring Devices Market Value Forecast, by Application, 2018–2027
14.3.1. Cardiovascular Diseases
14.3.2. Diabetes
14.3.3. Cancer
14.3.4. Hypertension
14.3.5. Infections
14.3.6. Bronchitis
14.3.7. Dehydration
14.3.8. Sleep Disorder
14.3.9. Weight Management and Fitness Monitoring
14.3.10. Others
14.4. Middle East & Africa Remote Patient Monitoring Devices Market Value Forecast, by End-user, 2018–2027
14.4.1. Hospital-based Patients
14.4.2. Homecare
14.4.3. Ambulatory Patients
14.4.4. Others
14.5. Middle East & Africa Remote Patient Monitoring Devices Market Value Forecast, by Country/Sub-region, 2018–2027
14.5.1. GCC Countries
14.5.2. South Africa
14.5.3. Rest of Middle East & Africa
14.6. Middle East & Africa Remote Patient Monitoring Devices Market Attractiveness Analysis
14.6.1. By Product
14.6.2. By Application
14.6.3. By End-user
14.6.4. By Country/Sub-region
15. Competition Landscape
15.1. Market Player - Competition Matrix (by tier and size of companies)
15.2. Market Share Analysis, by Company, 2019
15.3. Company Profiles
15.3.1. Koninklijke Philips N.V.
15.3.1.1. Company Overview
15.3.1.2. Company Financials
15.3.1.3. Growth Strategies
15.3.1.4. SWOT Analysis
15.3.2. GE Healthcare
15.3.2.1. Company Financials
15.3.2.2. Growth Strategies
15.3.2.3. SWOT Analysis
15.3.3. Boston Scientific Corporation
15.3.3.1. Company Overview
15.3.3.2. Company Financials
15.3.3.3. Growth Strategies
15.3.3.4. SWOT Analysis
15.3.4. Omron Healthcare
15.3.4.1. Company Overview
15.3.4.2. Company Financials
15.3.4.3. Growth Strategies
15.3.4.4. SWOT Analysis
15.3.5. Medtronic Plc.
15.3.5.1. Company Overview
15.3.5.2. Company Financials
15.3.5.3. Growth Strategies
15.3.5.4. SWOT Analysis
15.3.6. Welch Allyn
15.3.6.1. Company Overview
15.3.6.2. Company Financials
15.3.6.3. Growth Strategies
15.3.6.4. SWOT Analysis
15.3.1. Abbott Laboratories
15.3.1.1. Company Overview
15.3.1.2. Company Financials
15.3.1.3. Growth Strategies
15.3.1.4. SWOT Analysis
15.3.2. Masimo Corporation
15.3.2.1. Company Overview
15.3.2.2. Company Financials
15.3.2.3. Growth Strategies
15.3.2.4. SWOT Analysis
15.3.3. Hoffmann-La Roche Ltd.
15.3.3.1. Company Overview
15.3.3.2. Company Financials
15.3.3.3. Growth Strategies
15.3.3.4. SWOT Analysis
15.3.4. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
15.3.4.1. Company Overview
15.3.4.2. Company Financials
15.3.4.3. Growth Strategies
15.3.4.4. SWOT Analysis
15.3.5. Other Prominent Key Players