The global remote patient monitoring system market size was estimated to be USD 5.29 billion in 2023 and is expected to reach at USD 35.00 billion by 2034 with a CAGR of 18.74% during the forecast period 2024-2034. Significant investments from various firms, an increasing prevalence of chronic conditions, a rise in the number of neurological disorders & cancer cases, a surge in the geriatric population, a growing demand for home-based monitoring devices, increase in the use of monitoring devices to track health among affected populations, a growing trend of collaboration between healthcare players to advance patient monitoring programs, an upswing in regulatory approvals, and rising launch of advanced remote patient monitoring systems are some of the key factors boosting the market growth.
Rising launch of advanced remote patient monitoring system is predicted to boost the market growth during the forecast period. Remote patient monitoring has proven advantageous for both patients and clinicians, reducing the risk of disease transmission, alleviating strain on limited hospital resources, providing quicker access to patient data, enhancing patient outcomes, and delivering cost savings for healthcare providers. Consequently, market players are actively introducing innovative remote patient monitoring systems to meet these evolving healthcare needs. For instance, in October 2023, Ricoh USA, Inc. has unveiled the RICOH Remote Patient Monitoring (RPM) Enablement, its latest comprehensive managed services offering for health systems. This initiative is designed to enhance and support more efficient and sustainable Remote Patient Monitoring (RPM) workflows, with the aim of improving the experiences of both patients and care delivery teams.
By product, special monitors was the highest revenue-grossing segment in the global remote patient monitoring system market in 2023 owing to its capacity to monitor crucial clinical data before & after surgery, recognize symptoms, mitigate complications, & enhanced features, including wireless communication & iPad connectivity, facilitate early diagnosis, expanding the products' applicability. Additionally, vital sign monitors is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cardiac conditions, the upsurge in the population affected by heart disorders has consequently resulted in a heightened utilization of these monitors, and increasing launch of advanced systems. For instance, in November 2022, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. has introduced VS9, a vital sign monitoring device. This device is capable of performing various functions, including non-invasive blood pressure, pulse oximetry, and temperature measurements.
By application, diabetes was the highest revenue-grossing segment in the global remote patient monitoring system market in 2023. Diabetes stands as a leading cause of mortality, necessitating the ongoing monitoring of blood glucose levels. The impact of diabetes extends to various bodily functions, including heart activity, vision, liver function, and renal activity. Given the need for continuous and regular monitoring in diabetes, remote patient monitoring devices offer a convenient and effective means to accomplish this task. Additionally, cardiovascular diseases is predicted to grow at fastest CAGR during the forecast period owing to increasing prevalence of cardiovascular diseases and rising launch of advanced systems. For instance, in February 2022, BUZUD, Fosun Trade Medical Devices, a prominent medical appliance manufacturer, is excited to introduce the BUZUD Safe AQ UG Blood Glucose and Uric Acid Monitoring System. This two-in-one testing system allows users to conveniently and accurately measure blood sugar and uric acid levels from the comfort of their homes within 30 seconds, eliminating the need to visit a laboratory.
By end-user, hospital-based patient was the highest revenue-grossing segment in the global remote patient monitoring system market in 2023 owing to the substantial patient volume, growing frequency of diagnostic tests being conducted, and rising approvals by regulatory bodies. For instance, in August 2023, GE Healthcare has disclosed that it obtained 510(k) clearance from the United States Food and Drug Administration (FDA) for its Portrait Mobile wireless and wearable monitoring solution. The Portrait Mobile platform facilitates real-time continuous monitoring, offering a personalized view of the patient's vital signs while allowing them to remain mobile during crucial recovery periods, particularly post-surgery or after discharge from the intensive care unit. Additionally, home healthcare is predicted to grow at fastest CAGR during the forecast period owing to the cost-effectiveness of this alternative site, coupled with the presence of qualified resources, addresses the escalating strain on hospital resources and personnel. Remote patient monitoring not only provides significant opportunities for market players to collaborate with hospitals and other healthcare settings but also presents the potential to introduce new products, facilitating affordable healthcare delivery directly at a patient's home.
North America region is anticipated for the highest revenue share during the forecast period owing to the upsurge in chronic disease cases, growing demand for wireless & portable systems, is complemented by the existence of sophisticated reimbursement structures, and increasing collaborations among market players. For instance, in August 2023, Together, OMRON Healthcare, Inc. and EPIC Health are addressing health inequities in Detroit, Michigan. As part of this collaboration, OMRON Healthcare will implement VitalSight, a remote patient monitoring service aimed at diagnosing patients dealing with high blood pressure. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the escalating mortality rate, increasing need for cost-effective treatment, growing demand for in-house monitoring, continuous improvement in the accuracy & efficiency of remote patient monitors, and surge in launch of advanced remote patient monitoring systems. For instance, in February 2022, Healthnet Global, a subsidiary of Apollo Hospitals, has unveiled Automaid, an intelligent in-patient room automation system equipped for remote patient monitoring and triaging.
Rising launch of advanced remote patient monitoring system is predicted to boost the market growth during the forecast period. Remote patient monitoring has proven advantageous for both patients and clinicians, reducing the risk of disease transmission, alleviating strain on limited hospital resources, providing quicker access to patient data, enhancing patient outcomes, and delivering cost savings for healthcare providers. Consequently, market players are actively introducing innovative remote patient monitoring systems to meet these evolving healthcare needs. For instance, in October 2023, Ricoh USA, Inc. has unveiled the RICOH Remote Patient Monitoring (RPM) Enablement, its latest comprehensive managed services offering for health systems. This initiative is designed to enhance and support more efficient and sustainable Remote Patient Monitoring (RPM) workflows, with the aim of improving the experiences of both patients and care delivery teams.
By product, special monitors was the highest revenue-grossing segment in the global remote patient monitoring system market in 2023 owing to its capacity to monitor crucial clinical data before & after surgery, recognize symptoms, mitigate complications, & enhanced features, including wireless communication & iPad connectivity, facilitate early diagnosis, expanding the products' applicability. Additionally, vital sign monitors is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cardiac conditions, the upsurge in the population affected by heart disorders has consequently resulted in a heightened utilization of these monitors, and increasing launch of advanced systems. For instance, in November 2022, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. has introduced VS9, a vital sign monitoring device. This device is capable of performing various functions, including non-invasive blood pressure, pulse oximetry, and temperature measurements.
By application, diabetes was the highest revenue-grossing segment in the global remote patient monitoring system market in 2023. Diabetes stands as a leading cause of mortality, necessitating the ongoing monitoring of blood glucose levels. The impact of diabetes extends to various bodily functions, including heart activity, vision, liver function, and renal activity. Given the need for continuous and regular monitoring in diabetes, remote patient monitoring devices offer a convenient and effective means to accomplish this task. Additionally, cardiovascular diseases is predicted to grow at fastest CAGR during the forecast period owing to increasing prevalence of cardiovascular diseases and rising launch of advanced systems. For instance, in February 2022, BUZUD, Fosun Trade Medical Devices, a prominent medical appliance manufacturer, is excited to introduce the BUZUD Safe AQ UG Blood Glucose and Uric Acid Monitoring System. This two-in-one testing system allows users to conveniently and accurately measure blood sugar and uric acid levels from the comfort of their homes within 30 seconds, eliminating the need to visit a laboratory.
By end-user, hospital-based patient was the highest revenue-grossing segment in the global remote patient monitoring system market in 2023 owing to the substantial patient volume, growing frequency of diagnostic tests being conducted, and rising approvals by regulatory bodies. For instance, in August 2023, GE Healthcare has disclosed that it obtained 510(k) clearance from the United States Food and Drug Administration (FDA) for its Portrait Mobile wireless and wearable monitoring solution. The Portrait Mobile platform facilitates real-time continuous monitoring, offering a personalized view of the patient's vital signs while allowing them to remain mobile during crucial recovery periods, particularly post-surgery or after discharge from the intensive care unit. Additionally, home healthcare is predicted to grow at fastest CAGR during the forecast period owing to the cost-effectiveness of this alternative site, coupled with the presence of qualified resources, addresses the escalating strain on hospital resources and personnel. Remote patient monitoring not only provides significant opportunities for market players to collaborate with hospitals and other healthcare settings but also presents the potential to introduce new products, facilitating affordable healthcare delivery directly at a patient's home.
North America region is anticipated for the highest revenue share during the forecast period owing to the upsurge in chronic disease cases, growing demand for wireless & portable systems, is complemented by the existence of sophisticated reimbursement structures, and increasing collaborations among market players. For instance, in August 2023, Together, OMRON Healthcare, Inc. and EPIC Health are addressing health inequities in Detroit, Michigan. As part of this collaboration, OMRON Healthcare will implement VitalSight, a remote patient monitoring service aimed at diagnosing patients dealing with high blood pressure. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the escalating mortality rate, increasing need for cost-effective treatment, growing demand for in-house monitoring, continuous improvement in the accuracy & efficiency of remote patient monitors, and surge in launch of advanced remote patient monitoring systems. For instance, in February 2022, Healthnet Global, a subsidiary of Apollo Hospitals, has unveiled Automaid, an intelligent in-patient room automation system equipped for remote patient monitoring and triaging.
Segmentation: Remote Patient Monitoring System Market Report 2023 - 2034
Remote Patient Monitoring System Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Special Monitors
- Cardiac Rhythm Monitor
- Blood Glucose Monitors
- Anesthesia Monitors
- Fetal Heart Monitors
- Prothrombin Monitors
- Respiratory Monitor
- Multi Parameter Monitors (MPM)
- Others
- Vital Sign Monitors
- Pulse Oximeters
- Temperature Monitor
- Blood Pressure Monitors
- Respiratory Rate Monitor
- Brain Monitoring (EEG)
- Heart Rate Monitor (ECG)
Remote Patient Monitoring System Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Cancer
- Diabetes
- Bronchitis
- Infections
- Dehydration
- Hypertension
- Sleep Disorder
- Cardiovascular Diseases
- Weight management and Fitness Monitoring
Remote Patient Monitoring System Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Home Healthcare
- Hospital Based Patients
- Ambulatory Patients
Remote Patient Monitoring System Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Remote Patient Monitoring System Market: Product Estimates & Trend Analysis
8. Remote Patient Monitoring System Market: Application Estimates & Trend Analysis
9. Remote Patient Monitoring System Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Remote Patient Monitoring System Market
12. Europe Global Remote Patient Monitoring System Market
13. Asia Pacific Global Remote Patient Monitoring System Market
14. Latin America Global Remote Patient Monitoring System Market
15. MEA Global Remote Patient Monitoring System Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Boston Scientific Corporation
- Nihon Kohden Corporation
- GE Healthcare
- OSI Systems Inc.
- CareValidate
- Omron Corporation
- F. Hoffmann-La Roche Ltd
- Smiths Medical
- Abbott
- Koninklijke Philips N.V.
- Honeywell
- Masimo
- Johnson & Johnson
- Medtronic
- Dräger Medical
- Vitls Inc
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 5.29 Billion |
| Forecasted Market Value ( USD | $ 35 Billion |
| Compound Annual Growth Rate | 18.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
