Remote Patient Monitoring Market To Hit USD 88 Billion By 2030 : Wissen Research
The global remote patient monitoring (RPM) market is estimated to be valued at $40 Billion in 2023, and is expected to grow at a CAGR of ~12% during the forecast period (2024 – 2030)
Remote patient monitoring market
Sheridan, Feb. 12, 2025 (GLOBE NEWSWIRE) -- The remote patient monitoring market is set to experience remarkable growth, fueled by a rising need for innovative healthcare solutions. As technology continues to advance and the focus shifts to patient-centered care, RPM provides a holistic way to manage chronic diseases and enhance patient outcomes. However, there are also challenges that stakeholders need to address to unlock the market's full potential. @ https://www.wissenresearch.com/Pricing/
The RPM market is primarily driven by the rising burden of chronic diseases, which account for 71% of global deaths according to WHO. This is exemplified in diabetes care, where Continuous Glucose Monitors enable real-time blood sugar tracking and remote provider monitoring, leading to improved patient outcomes and reduced healthcare costs through fewer hospitalizations.Centralized data management systems present a major market opportunity in Remote Patient Monitoring (RPM), with 76% of healthcare organizations reporting improved clinical decisions according to Healthcare Information and Management Systems Society (HIMSS). These systems aggregate data from multiple RPM devices to create comprehensive patient health profiles. The opportunity centers on developing platforms that provide AI-driven insights, automated alerts, and EHR integration. For example, Mayo Clinic's centralized RPM platform reduced cardiac patient readmissions by 40% through real-time data analysis, demonstrating how effective data management can improve outcomes while reducing costs.Healthcare fraud in Remote Patient Monitoring (RPM) presents a significant market challenge, particularly as the adoption of digital health solutions expands. Fraudulent activities include billing for non-existent patient monitoring sessions, falsifying patient data, and submitting claims for services not rendered. Common schemes involve providers billing for RPM services without proper patient consent, using automated systems to generate false readings, or charging for monitoring periods that exceed actual patient engagement times.
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In 2023, RPM devices emerged as the dominant segment in the medical device market, primarily driven by the widespread adoption of vital sign monitors, blood glucose monitors, and cardiac monitoring devices. This dominance is attributed to the increasing prevalence of chronic diseases and the growing acceptance of wearable technology among patients. For instance, continuous glucose monitoring devices saw particularly strong growth, with market leader Dexcom reporting a 31% increase in global device shipments in 2023.The diabetes segment led the Remote Patient Monitoring market in 2023, fueled by rising global diabetes cases (537 million adults in 2021 per IDF) and the need for continuous monitoring. This leadership position was strengthened by widespread adoption of advanced CGM systems and connected insulin pumps enabling real-time data sharing with healthcare providers.Remote patient monitoring serves a number of end-users such as hospitals, home care, ambulatory care centers and others. The traditional healthcare facilities, i.e. hospitals remained the significant holder of user market share due to increase in the adoption rates of RPM devices globally.Remote patient monitoring market research included a comprehensive analysis of five key regions:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America.
Regions were assessed on healthcare infrastructure, regulations, tech adoption, and market dynamics. North America dominated the remote patient monitoring market due to advanced healthcare systems, high adoption rates, and the presence of major industry innovators.
As per the historical and the base year of the report (2022 and 2023, respectively), key players in remote patient monitoring were Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Cerner Corporation (US), Siemens Healthineers Ag (Germany), Omron Healthcare (Japan), Boston Scientific Corporation (US), Abbott Laboratories (US), Resideo Life Care Solutions (US), among others.Ask for Customization @ https://www.wissenresearch.com/ask-for-customization/Other Latest Reports from Wissen Research
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In a world marked by constant technological innovation and market disruptions, we assist organizations in planning and operationalizing their future revenue strategies by uncovering numerous growth opportunities. Companies choose Wissen Research to stay ahead of the competition and make informed revenue decisions, leveraging actionable insights and recommendations that give them a unique first-mover advantage.
Our research methodology delivers quantifiable and actionable insights into interconnected market ecosystems shaped by disruptive technologies and emerging markets. We not only focus on factors that will impact our clients' revenue but also explore what could affect their customers' revenue by revealing latent and adjacent market opportunities. We collaborate across all B2B sectors, engaging with C-level executives in areas such as R&D, intellectual property, strategy, marketing, sales, product development, and M&A.
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