Remote Patient Monitoring System Market Analysis, End use Estimates and Analysis Report 2030

The global remote patient monitoring system market size was estimated at USD 5.2 billion in 2023 and is expected to register a compound annual growth rate (CAGR) of 18.6% from 2024 to 2030. The outbreak of COVID-19 caused a significant impact on the remote patient monitoring system. The remote monitoring systems serve with improved chronic disease management including early warning signs and progress tracker thus boosting its demand in the coming years at a global level. The COVID-19 pandemic led to a shortage of space in hospitals. Apart from this, patients, especially those suffering from chronic diseases, were advised to avoid physical visits to hospitals owing to the threat of getting infected. This led to the development of remote patient monitoring market.

A large number of investments are made by firms by collaborating, acquiring, and partnering with new emerging startups. The personalized telemedicine app provides a communication platform for remote and real-time monitoring of patients that acts as a bridge between caregiver and patient. This step-change, borne out of necessity, changed the entire look of the remote patient monitoring market post-COVID-19. This change has sped up recovery rates as consumers are more willing to join the app. It has also increased the provider’s willingness to use the app, and it offers greater access and reimbursements.

Gather more insights about the market drivers, restrains and growth of the Remote Patient Monitoring System Market

The growing collaboration between the healthcare players to advance patient monitoring programs is expected to propel the market growth. For instance, in August 2023, EPIC Health and OMRON Healthcare, Inc. collaborated to address the health inequities in Detroit, U.S. Within the collaboration, OMRON Healthcare will deploy VitalSight, a remote patient monitoring service to diagnose patients suffering from high blood pressure.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

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Key Companies profiled:

Some prominent players in the global remote patient monitoring system market include

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Nihon Kohden Corporation
• Omron Corporation
• OSI Systems, Inc.
• Koninklijke Philips N.V.
• F. Hoffmann-La Roche Ltd
• Welch Allyn
• Smiths Medical
• Abbott
• Boston Scientific Corporation
• Dräger Medical
• GE Healthcare
• Honeywell
• Johnson & Johnson
• LifeWatch
• Medtronic
• Masimo
• Vitls, Inc
• CareValidate
• Biotronik
• American Telecare

Key Remote Patient Monitoring System Company Insights

• In August 2023, GE HealthCare received approval from the U.S. FDA for a portrait patient monitoring system. The system comprises wearable sensors that detect and wirelessly transmit vital patient signs to a monitor. 

• In October 2023, Ricoh USA, Inc. launched RICOH Remote Patient Monitoring (RPM) service. The service is expected to ease the healthcare staffing challenges.

Recent Developments

• In January, 2024, Apollo Hospital, a renowned multi-specialty hospital in India, announced a ground-breaking alliance with LifeSigns, a premier AI-powered health monitoring technology firm.
• In May 2023, Philips launched Virtual Care Management, a comprehensive portfolio of flexible solutions and services health systems, providers, payers, and employers to motivate and engage with patients from anywhere.
• OMRON Healthcare, Inc., a global leader in remote blood pressure monitoring and personal health technology in January, 2022, announced the introduction of new remote patient monitoring services at the 2022 Consumer Electronics Show (CES), alongside connected blood pressure monitors and an advanced mobile app.

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