Remote Patient Monitoring Devices Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Remote Patient Monitoring Devices Market will show over 11.7% CAGR from 2024 to 2032. RPM devices facilitate the continuous, real-time monitoring of patient's health outside conventional clinical environments. The surging prevalence of chronic ailments, including diabetes, cardiovascular diseases, cancer, and chronic kidney disease (CKD), significantly propels the growth of the remote patient monitoring devices industry.

For instance, a report from the World Heart Federation (WHF) highlighted those global fatalities from cardiovascular diseases (CVD) reached 20.5 million in 2021. CVD topped the global mortality chart in 2021, with a staggering 80% of these deaths occurring in low- and middle-income nations.

The Remote Patient Monitoring Devices Market is grouped based on product, application, end use , and region.

The market categorizes products into cardiac, blood pressure, neurological, multiparameter, blood glucose, fetal and neonatal, sleep monitoring devices, and others. The cardiac devices segment of the remote patient monitoring devices industry is projected to hit USD 9.8 billion by 2032. These devices monitor heart rhythms and rates in real-time, ensuring prompt medical intervention when anomalies arise. By identifying early signs of conditions like arrhythmias or heart attacks, these devices not only enhance treatment success rates but also mitigate severe complications. Furthermore, with advanced sensors and algorithms, modern cardiac devices ensure precise metric capture, empowering healthcare providers to make informed, tailored treatment decisions, thus fueling remote patient monitoring devices market growth.

The application segment of RPM devices encompasses cardiovascular diseases, cancer, diabetes, neurological disorders, infectious diseases, respiratory ailments, and more. In 2023, the cardiovascular diseases segment alone accounted for a substantial USD 3 billion. Given that CVDs, including hypertension and heart failure, rank among the top global morbidity and mortality causes, the need for continuous monitoring becomes paramount. RPM devices, by offering real-time monitoring, not only detect abnormalities early but also foresee potential complications, enabling timely interventions. Such capabilities not only prevent severe outcomes but also reduce hospitalizations, further propelling market growth.

The U.S. remote patient monitoring devices market is on track to reach USD 14.8 billion by 2032. As a frontrunner in technological advancements, the U.S. boasts a robust infrastructure-comprising high-speed internet, advanced data centers, and state-of-the-art technology platforms-that nurtures the evolution and implementation of sophisticated RPM devices. The surging diabetes prevalence, highlighted by the Public Health Agency of Canada, where 9.4% of the population (3.7 million) were diagnosed in 2021, with a notable gender disparity, further accentuates the expansion trajectory of the remote patient monitoring devices industry.

Product Code: 5563

Chapter 1 Methodology and Scope

1.1 Market scope and definitions
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Rising incidence of chronic diseases across the globe
  - 3.2.1.2 Growing disposable income and healthcare expenditure in emerging countries
  - 3.2.1.3 Technological advancement in developed nations
  - 3.2.1.4 Growing adoption of remote patient monitoring devices
- 3.2.2 Industry pitfalls and challenges
  - 3.2.2.1 High cost of devices
  - 3.2.2.2 Stringent regulatory framework
3.3 Growth potential analysis
3.4 Technology landscape
3.5 Regulatory landscape
3.6 Porter's analysis
3.7 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive dashboard
4.4 Competitive analysis of major market players
4.5 Competitive positioning matrix
4.6 Strategy outlook matrix

Chapter 5 Market Estimates and Forecast, By Product, 2021 - 2032 ($ Mn)

5.1 Key trends
5.2 Cardiac monitoring devices
5.3 Blood pressure monitoring devices
5.4 Neurological monitoring devices
5.5 Respiratory monitoring devices
5.6 Multiparameter monitoring devices
5.7 Blood glucose monitoring devices
5.8 Fetal and neonatal monitoring devices
5.9 Sleep monitoring devices
5.10 Other monitoring devices

Chapter 6 Market Estimates and Forecast, By Application, 2021 - 2032 ($ Mn)

6.1 Key trends
6.2 Cardiovascular diseases
6.3 Cancer
6.4 Diabetes
6.5 Neurological disorders
6.6 Infectious diseases
6.7 Respiratory diseases
6.8 Other applications

Chapter 7 Market Estimates and Forecast, By End-use, 2021 - 2032 ($ Mn)

7.1 Key trends
7.2 Home-care settings
7.3 Long-term care
7.4 Other end-users

Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)

8.1 Key trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.3.6 Russia
- 8.3.7 Poland
- 8.3.8 Switzerland
- 8.3.9 Netherlands
- 8.3.10 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 South Korea
- 8.4.6 Thailand
- 8.4.7 Indonesia
- 8.4.8 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Colombia
- 8.5.5 Chile
- 8.5.6 Rest of Latin America
8.6 Middle East and Africa
- 8.6.1 South Africa
- 8.6.2 Saudi Arabia
- 8.6.3 UAE
- 8.6.4 Israel
- 8.6.5 Rest of Middle East and Africa

Chapter 9 Company Profiles

9.1 Abbott Laboratories
9.2 Cerner Corporation
9.3 Baxter International Inc.
9.4 Boston Scientific Corporation
9.5 DexCom, Inc.
9.6 F. Hoffmann-La Roche Ltd
9.7 General Electric Company
9.8 Johnson and Johnson
9.9 Koninklijke Philips N.V
9.10 Medtronic plc
9.11 OMRON Corporation
9.12 Siemens Healthineers AG
9.13 VitalConnect