At 37.7% CAGR, Remote Patient Monitoring Systems Market Size to Surpass US$ ~762.18 billion by 2031 | Growth Plus Reports

NEW YORK, July 21, 2022 /PRNewswire/ -- The Global Remote Patient Monitoring Systems Market Size was pegged at ~ US$ 22.5 billion in 2020. The market is expected to clock US$ ~762.18 billion by 2031, to grow at a CAGR of 37.7% between the forecast period. All information is portrayed in the latest report published by Growth Plus Reports. Report Title "Remote Patient Monitoring Systems Market by Offering [Device, Software, and Services], Application [Blood Glucose Monitoring, Cardiac Monitoring, Respiratory Monitoring, Neuro Monitoring, Hemodynamic/Pressure Monitoring, and Weight Monitoring], End User [Providers, Payers, and Patients] – Global Outlook & Forecast 2021-2031"

The global remote patient monitoring systems market has been analyzed from four different perspectives– Offering, Application, End User, and Region.

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Growth factor

Government bodies and numerous organizations across the globe are implementing several initiatives to fast-track the development of remote patient monitoring system for COVID-19 by providing the necessary grants, permissions, clearances, and approvals to meet the needs of the healthcare sector. For instance, in June 2020, the FDA issued EUAs (Emergency Use Authorization) for certain remote or wearable patient monitoring system to help increase the availability of monitoring and treatment of patients and to help reduce exposure of healthcare providers to SARS-CoV-2 during the COVID-19 pandemic.

Excerpts from 'By Application Segmentation'

The global remote patient monitoring system market has been segmented majorly into six distinct categories depending on application, viz.

• blood glucose monitoring
• cardiac monitoring
• respiratory monitoring
• neuro monitoring
• hemodynamic/pressure monitoring
• weight monitoring
• others (fetal & neonatal monitoring, temperature monitoring, multi-parameter monitoring, etc.)

The blood glucose monitoring segment accounted for the largest share of the market in 2020. The growth of segment can primarily be attributed to the increasing prevalence of diabetes, new product launches, and growing adoption of self-blood glucose monitoring devices at home owing to their affordability and high convenience.

Excerpts from 'By Region Segmentation'

The global remote patient monitoring system market has been segmented into

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

North America is commanded the largest share of the global remote patient monitoring systems market in 2020, followed by Europe, Asia Pacific, and Rest of the World (RoW). Factors such as the growing geriatric population, the rising prevalence of chronic and acute diseases, rising demand for remote patient care, and favorable reimbursement policies are driving the growth of the market. Furthermore, the presence of prominent players and launch technologically advanced products by them is propelling the growth of the market in the region. Additionally, Asia Pacific is anticipated to be the dastest growing regional market for remote patient monitoring systems. Major contributors to the overall growth of Asia Pacific market are increasing prevalence of chronic diseases demanding hospitalizations and prolonged remote care, and improving disposable incomes of patients and caregivers to avail home healthcare solutions. Furthermore growing awareness in the general population towards health and wellbeing and the resultant growth in adoption of different personal use medical devices additionally facilitates the market growth. Additionally, consistent improvement and development of the overall healthcare infrastructure in countries such as China, India, Malaysia, Thailand, Singapore etc., shall be opening new growth opportunities for international market players already having stronghold in North America and Europe markets.

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Excerpts from 'Competitive Landscape'

Some of the prominent players operating in the remote patient monitoring system market are

• General Electric Company
• Abbott Laboratories Inc
• Medtronic PLC
• Koninklijke Philips N.V
• Siemens Healthcare GmbH
• Boston Scientific Corporation
• Cerner Corporation
• Omron Healthcare, Inc
• BioTelemetry, Inc
• Vivify Health, Inc
• Among others

Report Scope & Segmentation:

Table of Content

1. INTRODUCTION
1. Market Ecosystem
2. Geographic Scope
3. Timeline Under Consideration
1. Historical Years – 2018 & 2019
2. Base Year – 2020
3. Forecasted Years – 2021 to 2031
4. Currency Used in the Report
2. RESEARCH METHODOLOGY 
1. Research Approach
2. Data Collection Methodology
3. Data Sources
1. Secondary Sources 
2. Primary Sources 
4. Market Estimation Approach
1. Bottom Up 
2. Top Down 
5. Market Forecasting Model
6. Limitations and Assumptions

TOC Conitnued…

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