Remote Patient Monitoring Devices (RPM) Market Size to reach $20.8 Billion By 2033 Growing at 3.29% CAGR | GlobalData Plc
Research Reports
Aug 23, 2023
The global remote patient monitoring devices market size is expected to reach $20.8 billion in 2033, according to a new report by GlobalData Plc. This growth is largely driven by the increasing prevalence of chronic diseases, technological advancements, and aging population, which are presumed to drive the remote patient monitoring devices market growth over the forecast period.
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Remote Patient Monitoring Devices Market FAQs
- What will be the global remote patient monitoring devices market size in 2033?
The global remote patient monitoring devices size is forecast to be valued at $20.8 billion in 2033.
- What is remote patient monitoring devices market growth rate?
The remote patient monitoring devices market is expected to grow at a CAGR of 3.29% during the forecast period (2023-2033).
- What are the key remote patient monitoring devices market drivers?
Increasing prevalence of chronic diseases and emphasis on patient-centric healthcare such as personalized treatment plans and improved patient engagement, coupled with advancements in remote monitoring technologies are key factors driving the market during forecast period. Additionally, key strategic partnerships and mergers and acquisitions in the space is expected to accelerate market growth.
- What are the key remote patient monitoring devices market segments?
Device Type Segment:
- Implantable remote patient monitoring devices
- ICD (Implantable cardioverter defibrillators)
- Pacemaker
- External remote patient monitoring devices
- Specialized monitoring devices
- Blood glucose
- External cardiology remote monitors
- Portable capnographs
- Portable polysomnography systems
- Vital signs monitoring devices
- Thermometers
- Wrist pulse oximeters
- Peak flow meters
- Portable and handheld spirometers
- Specialized monitoring devices
- Which are the leading remote patient monitoring devices companies globally?
Some of the leading companies in the remote patient monitoring devices market are Medtronic Plc, Abbott Laboratories, Koninklijke Philips N.V, Nihon Kohden Corp, DexCom Inc, GE HealthCare Technologies Inc, Masimo Corp, Nonin Medical Inc, and Smiths Medical
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Remote Patient Monitoring Devices Market Dynamics
The widespread adoption of remote patient monitoring (RPM) in healthcare has led to the accumulation of vast amounts of medical data. To efficiently analyze and process this data, AI-based adaptive algorithms are being developed, enabling automated treatment recommendations and potential diagnoses based on patient information.
AI and ML are experiencing rapid growth in the healthcare sector due to their adaptability and continuous improvement capabilities. As RPM devices gather more data, AI-based models become increasingly accurate and precise over time.
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Remote Patient Monitoring Devices Market Report Highlights
- The global remote patient monitoring devices market is projected to witness a CAGR of 3.29% over the forecast period. Increasing prevalence of chronic diseases and emphasis on patient-centric healthcare such as personalized treatment plans and improved patient engagement, coupled with advancements in the remote monitoring technologies is expected to aid growth.
- Middle East and Africa will register the fastest growth by 2033 at a CAGR of 4.58% from 2022-2033. Primarily driven by increasing investments in healthcare infrastructure and state-of-the-art medical research facilities that will drive expanded access to the remote patient monitoring devices in the forecast period.
- North America captured over 44% of the overall remote patient monitoring devices market demand in 2022. This was due to the strong presence of key market players, a significant number of product launches, increased investment in R&D, growing acceptance of remote patient monitoring applications in the region.
- The key remote patient monitoring devices market players analyzed as part of this report include Medtronic Plc, Boston Scientific Corp, Koninklijke Philips N.V, Abbott Laboratories, and Nihon Kohden Corp.
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Remote Patient Monitoring Devices Market Scope
GlobalData Plc has segmented the RPM devices market report on the basis of device type and regions:
Global Remote Patient Monitoring Devices Device Type Outlook (Revenue, USD Million, (2022-2033)
- Implantable remote patient monitoring devices
- ICD (Implantable cardioverter defibrillators)
- Pacemaker
- External remote patient monitoring devices
- Specialized monitoring devices
- Blood glucose
- External cardiology remote monitors
- Portable capnographs
- Portable polysomnography systems
- Vital signs monitoring devices
- Thermometers
- Wrist pulse oximeters
- Peak flow meters
- Portable and handheld spirometers
- Specialized monitoring devices
Global Remote Patient Monitoring Devices Regional Outlook (Revenue, USD Million, (2021-2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- United Kingdom
- Russia
- Austria
- Belgium
- Czech Republic
- Denmark
- Greece
- Finland
- Hungary
- Ireland
- Netherlands
- Norway
- Poland
- Portugal
- Sweden
- Switzerland
- Turkey
- Asia Pacific
- China
- Japan
- India
- Australia
- New Zealand
- South Korea
- Taiwan
- South and Central America
- Argentina
- Brazil
- Chile
- Middle East and Africa
- South Africa
- Saudi Arabia
- Israel
- Egypt
- United Arab Emirates
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