Remote Patient Monitoring Devices Market Size, Share, Trends, Growth, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

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 2020 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

  • Vital Sign Monitors
  • Heart Rate Monitors (ECG)
  • Blood Pressure Monitors
  • Respiratory Rate Monitors
  • Brain Monitoring (EEG)
  • Temperature Monitors
  • Pulse Oximeters
  • Others
  • Special Monitors
  • Blood Glucose Monitors
  • Fetal Heart Monitors
  • Multi-Parameter Monitors (MPM)
  • Anesthesia Monitors
  • Prothrombin Monitors
  • Others

By Application

  • Cardiovascular Diseases
  • Diabetes
  • Cancer
  • Hypertension
  • Infections
  • Bronchitis
  • Dehydration
  • Sleep Disorder
  • Weight Management & Fitness Monitoring
  • Others

By End User

  • Hospital-based Patients
  • Homecare
  • Ambulatory Patients
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of the Europe
  • Asia Pacific     
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

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

  • What is the scope of growth of devices and its companies in the global remote patient monitoring devices market and its application segment?
  • What will be the Y-o-Y growth of the global remote patient monitoring devices market between 2020 and 2030?
  • What is the influence of changing trends in technologies on the global remote patient monitoring devices market?
  • Will North America continue to be the most profitable regional market for remote patient monitoring device providers?
  • Which factors will impede the growth of the global remote patient monitoring devices market during the forecast period?
  • Which are the leading companies in the global remote patient monitoring devices market?

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.


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