The global remote patient monitoring market accounted for USD 2.65 billion in 2023 and is expected to reach USD 17.38 billion by 2034 with a CAGR of 18.36% during the forecast period 2024-2034. The market will grow due to factors such as the prevalence of chronic diseases, reimbursement policies, and regulatory support, data analytics and artificial intelligence advancements in communication technologies, and lower costs for RPM devices.
Chronic ailments like diabetes, heart disease, respiratory disorders, and hypertension are becoming more common, and managing them effectively requires ongoing monitoring. RPM makes it possible to identify health problems early, facilitating prompt action and improved disease management, lowering complications and hospital stays. For instance, Medtronic released the Medtronic InSync AnywhereTM system in May 2024, which enables patients with heart failure to get remote monitoring.
By product type, the monitoring devices segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the increased prevalence of chronic diseases, technological advancements, and the rising adoption of wearable and implantable devices. For instance, Philips announced in March 2024 the release of their next-generation Avalon CL Maternal and Fetal Pod and Patch obstetrics solution. Additionally, the software segment is estimated to grow at the fastest CAGR during the forecast period owing to the increasing integration with electronic health records, advancements in data analytics and AI, and the rising demand for real-time health monitoring and personalized care solutions.
By application, the diabetes segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the growing prevalence of diabetes, the need for continuous glucose monitoring, and advancements in diabetes management technologies. For instance, Abbott announced in April 2024 that the NeuroSphereTM Virtual Clinic, a remote neuromodulation patient care system, had received FDA approval. Additionally, the cardiovascular diseases segment is estimated to grow at the fastest CAGR during the forecast period owing to improvements in remote monitoring technologies for cardiovascular health, the growing prevalence of heart-related disorders, and the requirement for ongoing cardiac monitoring.
By end-user, the hospital’s segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the high patient volume, increased adoption of advanced monitoring technologies, and the need for efficient patient management and care coordination. For instance, GE Healthcare and Verana Health announced a collaboration in January 2024 to expedite the development of remote patient monitoring technologies. Additionally, the home care settings segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for home-based care, advancements in remote monitoring technology, and the rising need for cost-effective healthcare solutions.
North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high technology adoption, and supportive regulatory environment. Additionally, the Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of chronic diseases, rising healthcare expenditure, and rapid technological advancements in healthcare. For instance, Omron Healthcare announced the release of its wearable blood pressure monitor, HeartGuide® 2, with remote monitoring capabilities in February 2024.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Chronic ailments like diabetes, heart disease, respiratory disorders, and hypertension are becoming more common, and managing them effectively requires ongoing monitoring. RPM makes it possible to identify health problems early, facilitating prompt action and improved disease management, lowering complications and hospital stays. For instance, Medtronic released the Medtronic InSync AnywhereTM system in May 2024, which enables patients with heart failure to get remote monitoring.
By product type, the monitoring devices segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the increased prevalence of chronic diseases, technological advancements, and the rising adoption of wearable and implantable devices. For instance, Philips announced in March 2024 the release of their next-generation Avalon CL Maternal and Fetal Pod and Patch obstetrics solution. Additionally, the software segment is estimated to grow at the fastest CAGR during the forecast period owing to the increasing integration with electronic health records, advancements in data analytics and AI, and the rising demand for real-time health monitoring and personalized care solutions.
By application, the diabetes segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the growing prevalence of diabetes, the need for continuous glucose monitoring, and advancements in diabetes management technologies. For instance, Abbott announced in April 2024 that the NeuroSphereTM Virtual Clinic, a remote neuromodulation patient care system, had received FDA approval. Additionally, the cardiovascular diseases segment is estimated to grow at the fastest CAGR during the forecast period owing to improvements in remote monitoring technologies for cardiovascular health, the growing prevalence of heart-related disorders, and the requirement for ongoing cardiac monitoring.
By end-user, the hospital’s segment accounted for the highest revenue-grossing segment in the global remote patient monitoring market in 2023 owing to the high patient volume, increased adoption of advanced monitoring technologies, and the need for efficient patient management and care coordination. For instance, GE Healthcare and Verana Health announced a collaboration in January 2024 to expedite the development of remote patient monitoring technologies. Additionally, the home care settings segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for home-based care, advancements in remote monitoring technology, and the rising need for cost-effective healthcare solutions.
North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high technology adoption, and supportive regulatory environment. Additionally, the Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of chronic diseases, rising healthcare expenditure, and rapid technological advancements in healthcare. For instance, Omron Healthcare announced the release of its wearable blood pressure monitor, HeartGuide® 2, with remote monitoring capabilities in February 2024.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product Type, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement
Segmentation: Remote Patient Monitoring Market Report 2023 - 2034
Remote Patient Monitoring Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Monitoring Devices
- Vital Sign Monitors
- Specialized Monitors
- Implantable Monitors
- Software
- Standalone Software
- Integrated Software
- Services
Remote Patient Monitoring Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Cancer
- Cardiovascular Diseases
- Diabetes
Remote Patient Monitoring Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
- Long-term Care Centers
- Others
Remote Patient Monitoring 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 Market: Product Type Estimates & Trend Analysis
8. Remote Patient Monitoring Market: Application Estimates & Trend Analysis
9. Remote Patient Monitoring Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Remote Patient Monitoring Market
12. Europe Global Remote Patient Monitoring Market
13. Asia Pacific Global Remote Patient Monitoring Market
14. Latin America Global Remote Patient Monitoring Market
15. MEA Global Remote Patient Monitoring Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Medtronic plc
- Koninklijke Philips N.V.
- Abbott Laboratories
- GE Healthcare
- Omron Healthcare Inc.
- BioTelemetry Inc.
- Masimo Corporation
- Biotronik SE & Co. KG
- Honeywell International Inc.
- Nihon Kohden Corporation
- Boston Scientific Corporation
- Smiths Group plc
- ResMed Inc.
- iRhythm Technologies Inc.
- Hillrom Holdings Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 2.65 Billion |
| Forecasted Market Value ( USD | $ 17.38 Billion |
| Compound Annual Growth Rate | 18.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
