77 Million Patients Worldwide are Remotely Monitored
How should the mobile industry address the vast business opportunity in wireless healthcare monitoring?
The number of connected home medical monitoring devices on the global market was 76.7 million at the end of 2023 and is forecasted to grow at a CAGR of 12.8% in the next five years to reach 140.1 million in 2028. Learn more about how wireless technology can become seamlessly integrated with medical devices in this 320-page in-depth report now in its twelfth edition.
mHealth refers to the application of telecommunications in medicine and includes everything from connected medical devices to digital care programs. The adoption of mHealth solutions in healthcare is driven by a wide range of incentives, related to everything from demographics and technology development to new advancements in medical treatment. The primary focus of this report is on home monitoring solutions, which are commonly used to manage patients with various chronic conditions such as cardiac arrhythmia, sleep apnoea and diabetes. Other applications include remote diagnostics, compliance monitoring and clinical trials.
The revenues for remote patient monitoring (RPM) solutions reached 40.4 billion in 2023, including revenues from medical monitoring devices and mHealth software and services. RPM revenues are expected to grow at a CAGR of 13.9% between 2023 and 2028 to reach 77.3 billion at the end of the forecast period. Connected medical devices accounted for 54% of total RPM revenues in 2023. However, revenues for mHealth software and services are growing at a faster rate and will account for 58% of total revenues in 2028, up from 46% in 2023.
This report will allow you to:
- Learn about key home health monitoring devices and services.
- Study the strategies of 145 key players in the mHealth ecosystem.
- Understand the dynamics of the health monitoring market in Europe and North America.
- Comprehend how wireless technology can become seamlessly integrated with medical devices.
- Evaluate the business opportunities in the emerging mHealth segment.
- Predict future market and technology developments.
The report answers the following questions:
- Which medical conditions offer the best potential for wireless health monitoring solutions?
- Who are the leading providers of connected medical devices?
- What are the mHealth strategies of medical device vendors and pharmaceutical companies?
- What initiatives have been taken by the leading players in the telecom and IT industries?
- How can connectivity redefine the use cases of medical devices and the value to patients?
- Which are the general technology trends for home health monitoring equipment?
- How are new reimbursement policies affecting the mHealth and connected care market?
- How can healthcare providers and payers benefit from mHealth solutions?
Who should read this report?
mHealth and Home Monitoring is the foremost source of information about the adoption of wireless solutions for health monitoring. Whether you are a medical equipment vendor, telecom operator, healthcare provider, investor, consultant, or government agency, you will gain valuable insights from this in-depth research.
Table of Contents
Executive Summary
Executive Summary
The number of remotely monitored patients reached 76.7 million in 2023, reflecting growing market acceptance. This number includes all patients enrolled in mHealth care programs in which connected medical devices are used as a part of the care regimen. The report estimates that the number of remotely monitored patients will grow at a compound annual growth rate (CAGR) of 12.8 percent to reach 140.1 million by 2028. Cellular connectivity remains the defacto standard communications technology for most types of connected home medical monitoring devices and will account for 68.7 million connections in 2028. However, the trend of using patients’ own mobile devices as health hubs is gaining traction. By 2028, a total of 67.9 million patients will rely on BYOD connectivity.
The report estimates that revenues for remote patient monitoring (RPM) solutions reached € 40.4 billion in 2023, including revenues from medical monitoring devices and mHealth software and services. RPM revenues are expected to grow at a CAGR of 13.9 percent between 2023 and 2028 to reach € 77.3 billion at the end of the forecast period.
Connected medical devices accounted for 54 percent of total RPM revenues in 2023. However, revenues for mHealth software and services are growing at a faster rate and will account for 58 percent of total revenues in 2028, up from 46 percent in 2023.
There is a strong trend towards incorporating more connectivity in medical devices in order to enable new services and value propositions. Sleep therapy is by far the most connected segment and is dominated by ResMed. The number of monitored patients continues to grow and has more than doubled since 2018, largely due to the compliance monitoring requirements that have been introduced in the US and Europe. Implantable cardiac rhythm management (CRM) has traditionally been the largest market segment, led by companies such as Medtronic, Abbott, Boston Scientific and BIOTRONIK that included connectivity in CRM solutions two decades ago. The report anticipates that the fastest growing market segments in the next five years are likely to be remote ECG monitoring, glucose monitoring and medication compliance monitoring. Today, the leading connected healthcare players in these segments include forwardthinking incumbents as well as innovative new entrants such as AliveCor, Abbott, Boston Scientific, Compliance 77 million patients worldwide are remotely monitored
Meds Technologies, Evondos, Phillips, Dexcom, Glooko, Hero, Insulet, iRhythm Technologies, InfoBionic, MedMinder, MedReady, Medtronic, Tandem Diabetes Care and WellDoc. mHealth software and services are one of the most rapidly developing parts of the mHealth value chain. This segment includes platforms for remote patient monitoring, which utilize connected devices like wearables and sensors to track vital signs and health metrics in real-time. Service providers in this space offer comprehensive solutions that integrate data analytics, telehealth capabilities and patient engagement tools to ensure continuous and efficient care. Companies that specialise in this area include Accuhealth, Aptar Digital Health, Alira Health (Bepatient), Biofourmis, Huma Therapeutics, Omron Healthcare (Luscii), S3 Connected
Health, Teladoc Health (Livongo), Enovation and Welldoc.
The global healthcare sector is undergoing a technological transformation driven by evolving patient needs and the lasting impact of the COVID-19 pandemic. This has led to the steady integration of remote patient monitoring technologies, with telehealth and remote monitoring becoming the new standard for care delivery. Providers are incorporating social care models into public health systems to better address patient needs. Medical providers and technology companies are seeking ways to revolutionize care by streamlining costs, reducing hospital readmission rates and expanding access to care in remote areas. Key trends include the entry of new companies into the connected healthcare market, the growing importance of digital health data for designing patient management solutions and the rapid adoption of telehealth and compliance monitoring. In recent years, the healthcare industry has seen a shift towards mHealth technologies, from fitness tracking apps to platforms integrating augmented reality and wearable tech. Artificial intelligence has advanced significantly, aiding in disease detection and personalized treatment by analysing large datasets. This shift supports the move from data collection to proactive and personalized solutions. Additionally, using patients’ own mobile devices as health hubs has become a viable alternative. The report predicts that this transformation will drive strong growth in the mHealth industry over the next five years.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abbott (St. Jude Medical)
- Abbott Diabetes Care
- Accuhealth
- AceAge
- Adherium
- AdhereTech
- AliveCor
- Alira Health (Bepatient)
- Alphabet
- Almas Industries
- AMC Health
- American Well (Amwell)
- Aptar Digital Health
- Apple
- Ascensia Diabetes Care
- AstraZeneca
- AT&T
- Avive Solutions
- BIOTRONIK
- Biofourmis
- BioSerenity
- BioTel Care (Philips)
- BioTelemetry (Philips ECG Solutions)
- Biotricity
- Bittium
- BMC Medical
- BodiMetrics
- Boston Scientific
- Boston Scientific Cardiac Diagnostics (Preventice Solutions)
- Cadwell Laboratories
- Cardia International
- CardiLink
- CardioComm Solutions
- CareSimple
- Clario
- CleveMed
- CoaguSense
- Compliance Meds Technologies
- Compumedics
- Current Health (BestBuy Health)
- Deutsche Telekom
- Dexcom
- Doccla (OpenTeleHealth)
- Domicalis
- eDevice
- Enovacom (Orange)
- Enovation (Legrand Care)
- etectRx
- Evondos
- Fisher & Paykel Healthcare
- GE HealthCare
- Glooko
- Helena Laboratories
- Hero
- Hope Care
- Huma Therapeutics
- iHealth Labs
- iLine Microsystems
- Information Mediary Corporation
- Insulet
- iRhythm Technologies
- iZafe Group
- KORE
- LevMed
- LifeScan
- Löwenstein Medical Technology
- Luscii (Omron Healthcare)
- Masimo
- Medical International Research
- Medimi
- Medisanté
- Medixine
- MedM
- MedMinder
- MedReady
- Medtronic
- Medtronic Care Management Services
- Medtronic Diabetes Operating Unit
- Merck Group
- Mevia
- Microsoft
- Microlife
- MicroPort Scientific
- Monitored Therapeutics
- Natus Medical
- NDD Medical Technologies
- Nihon Kohden
- NIOX Group (Circassia Group)
- Nonin Medical
- Nox Medical
- Onera Health
- Omron Healthcare
- Philips Emergency Care
- Philips Enterprise Telehealth
- Philips Sleep and Respiratory Care
- Physio-Control (Stryker)
- Propeller Health
- PTC
- PYRESCOM
- ResMed
- Respiri
- RGF Diagnostics (Mymemo)
- Roche Diabetes Care
- Roche Diagnostics
- Rossmax
- S3 Connected Health
- Schiller
- ScottCare Cardiovascular Solutions
- Senseonics
- SHL Telemedicine
- Siemens Healthineers
- Sibelmed
- Smart Meter
- Smart Respiratory
- SOMNOmedics
- Somnics Health
- SomnoMed
- Sony Network Communications
- Spencer Health Solutions
- SRETT
- Teladoc Health
- Telefónica
- Telenor
- TruBridge
- TZ Medical
- TytoCare
- Vaica
- VitalConnect
- Vitalograph
- Vivalink
- Vodafone
- Welch-Allyn (Baxter International)
- Welldoc
- Werfen (Instrumentation Laboratory)
- Wesper
- Withings
- Zenicor Medical Systems
- Zoll Itamar
- Zoll Medical (Asahi Kasei)
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 320 |
Published | September 2024 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 76.7 Million |
Forecasted Market Value ( USD | $ 140.1 Million |
Compound Annual Growth Rate | 12.8% |
Regions Covered | Global |