Global Remote Patient Monitoring (RPM) Market Research Report Forecast 2030

Posted by vidhyanigam98 on January 28th, 2021

Bharat Book Bureau Provides the Treding Market Research Report on "Remote Patient Monitoring (RPM) Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030" under Life Sciences Category. The report offers a collection of superior market researach, market analysis, competitive intelligence and Market reports.

Remote Patient Monitoring (RPM) Market : Market Segments: By Type (Heart Monitors, Breath Monitors, Hematology Monitors, Multi-parameter Monitors, and Other); By Application (Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Management and Fitness Monitoring and Other); By End User (Home Care Settings, Hospital/Clinics and Other); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

Product Overview
Remote Patient Monitoring (RPM) is a technology used to collect medical and health-related data from individuals at one location and electronically transmit it to a healthcare provider at another location. RPM is used to remotely monitor and analyze physiological parameters such as blood oxygen levels, vital signs, blood pressure, heart rate, and blood sugar, which improves the quality of care, quality of life, and allows early prediction of aggravations and exacerbations.

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Market Highlights
Remote Patient Monitoring (RPM) Market is expected to project a notable CAGR of 38.6% in 2030.
Remote Patient Monitoring (RPM) Market to surpass USD 125.1 Million by 2030 from USD 23.5 Million in terms of value growing at a CAGR of 38.6% throughout the forecast period, i.e., 2019-30. The rising geriatric population and the growing need to expand healthcare access, cost benefits of telehealth and remote patient monitoring, benefits of RPM to reduce the burden on medical resources, advancements in telecommunications, growing incidences of chronic diseases, and increasing investments in telehealth and RPM are the major factors driving the growth of this market.

Remote Patient Monitoring (RPM) Market: Segments
Multi Parameter Monitors Segment to grow with the highest CAGR of XX.X% during 2019-30
Remote Patient Monitoring (RPM) Market is segmented by type as Heart Monitors, Breath Monitors, Hematology Monitors, Multi-parameter Monitors, and Other. The Heart Monitor segment is estimated to lead the market with a share of over 80.0% of Remote Patience monitoring market in 2018 and this trend is expected to continue during the forecast period. Heart rate monitor is identified as the dominating product sub-segment due to the increasing incidence of cardiac conditions globally. The surge in the number of individuals with heart disorders has led to the increased usage of these monitors. The multi-parameter remote monitoring devices are used not only by medical professionals but also by the health-conscious population, as sleep and activity monitors fall in these categories.

Remote Patient Monitoring (RPM) Market: Market Dynamics

Rising Burden of Chronic Diseases
Chronic heart diseases, diabetes, and chronic respiratory diseases are the leading cause of mortality and morbidity in the world. Chronic care management accounts for 75% of the healthcare costs. The increase in prevalence of chronic conditions places an enormous financial burden on the caregivers. Thus, it reduces the readmissions and prevents avoidable hospitalizations.

Stringent Regulatory Framework
The major factors, such as lack of awareness and issues pertaining to price constraints, restrain the growth of RPM market. Despite significant factors driving the wider adoption of remote patient monitoring systems, resistance from the healthcare industry professionals toward the adoption of the patient monitoring system, lack of proper reimbursement policies, and stringent regulatory framework are the challenges faced by the market.

Remote Patient Monitoring (RPM) Market: Regions
Remote Patient Monitoring (RPM) Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.

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