Multi-Billion Opportunities in the US Remote Patient Monitoring Market, Revenue to Surpass $25 Billion by 2028 Fueled by AI & IoT -Arizton

CHICAGO, June 13, 2023 /PRNewswire/ -- According to Arizton's latest research report, the US remote patient monitoring market will grow at a CAGR of 11.167% during 2022-2028. 

To Know More, Download the Free Sample Report: https://www.arizton.com/request-sample/3870

Browse In-Depth TOC of the U.S. Remote Patient Monitoring Market       

70 - Tables        
86 - Charts       
248 – Pages 

Market Overview

The healthcare landscape in the United States has undergone significant transformations, from focusing on avoiding re-admissions to preventing admissions and providing remote patient treatment. This shift has resulted in increased efficiency and effectiveness within healthcare settings, ultimately enhancing the value of patient care. Healthcare settings invest in remote patient monitoring, telehealth, and advanced patient monitoring systems to support this model. Technical and software companies are crucial in facilitating this market shift.

Home patient monitoring has become a standard for adult patients requiring long-term alternatives to hospital-based treatment. Wireless patient monitoring systems to track vital signs are a growing trend in healthcare, offering numerous benefits, such as enabling enhanced home care for chronic and acute conditions. Factors related to the COVID-19 pandemic have further highlighted the potential for integrating care at home, while technological advancements have made remote patient monitoring feasible.

Healthcare systems are actively partnering with market vendors and stakeholders to raise awareness about the advantages of remote patient monitoring devices, thereby driving the market growth. Key players in the industry focus on product approval and launch initiatives to expand their product portfolios, foster technological advancements, and meet consumers' demands seeking these monitoring devices.

The COVID-19 pandemic has accelerated the healthcare landscape's shift, compelling healthcare settings to reduce costs and provide value-based treatments. This presents significant opportunities for vendors operating in the vital sign monitoring and remote patient monitoring markets to address the evolving needs of the healthcare sector. As chronic diseases account for a substantial portion of patient treatment and healthcare expenditure in the US, vital signs monitoring and remote patient monitoring devices are poised to play a crucial role in the future of the country's healthcare market.

The U.S. Remote Patient Monitoring Market Report Scope

Looking for More Information? Download the Free Sample Report: https://www.arizton.com/request-sample/3870

Market Opportunities

Impact of AI & IoT Drives RPM Adoption: One of the fastest-growing segments of the IoT market is healthcare devices. While remote patient monitoring, which involves IoT sensors that collect patient data such as heart rate and body temperature, is the most well-known example of IoT in healthcare, there are numerous other applications. When an IoT device captures patient data, it sends it to a software application where healthcare professionals and patients may see it. Algorithms can analyze data to make treatment recommendations or send out alarms. For instance, an IoT sensor that detects a patient's exceptionally low heart rate may send an alarm so medical personnel can intervene.

Health parameters can be self-assessed at home with the help of the remote health monitoring framework, and the information can be shared with a certified doctor who is far away. If a patient suffers from a serious medical condition, the specialist cannot help. These parameters can be communicated remotely to a doctor who can assist them from anywhere. In the worst-case scenario, even if the treatment is unavailable in their country, they can communicate with a specialist in a more technologically sophisticated country and continue the treatment. As a result, by combining remote patient monitoring with IoMT, death rates can be reduced, and improved service quality.

Rising Adoption of Telemedicine Ushering New Opportunities for Remote Monitoring: Telehealth, or healthcare enabled by technology, has begun to revolutionize the home care environment and is expected to increase significantly in the future years. Simple technology (for instance, e-mail, the Internet, and cell phones) can now monitor people's health remotely. Telephone lines or internet connections can send high-resolution visual pictures and audio. Remote monitoring will become much more common in the next years, involving more types of home equipment. Technology such as wireless electronics and digital processing will enable the connection between various devices and remote health care practitioners. Some wireless equipment, particularly meters, and monitors, will be wearable, allowing continuous monitoring or more convenient testing.

Key Highlights

• Cardiovascular diseases accounted for the largest share of the application segment and are expected to retain the leading position during the forecast period, with musculoskeletal diseases expected to grow at the highest CAGR.
• Hospitals and healthcare providers increasingly invest in remote patient monitoring technologies such as telehealth and connected devices.
• The increasing demand for healthcare services, especially from the aging population, and the rising number of home healthcare patients are contributing to the growth of the US remote patient monitoring market.
• The high adoption of telehealth and telemedicine solutions significantly contributed to the growth of AI software solutions, which will likely continue for the foreseeable future.
• The end-user segments, such as ambulatory and home healthcare settings, will likely grow at healthy rates as patient care monitoring shifts from hospital-centric to patient-centric. The increasing usage and application of advanced remote patient monitoring devices by healthcare professionals in ambulatory care settings and patients in home care settings are projected to drive both segments' growth.

Buy the Report Now: https://www.arizton.com/market-reports/us-remote-patient-monitoring-market

Post-Purchase Benefit         

• 1hr of free analyst discussion
• 10% of customization

Hospitals Drive US Remote Patient Monitoring Market, Accounting for 34.04% of Market Share in 2022

The hospitals segment emerged as a prominent player in the US remote patient monitoring (RPM) market, capturing a market share of 34.04% in 2022. Healthcare systems and hospitals in the United States are strategically adopting remote patient monitoring technology to enhance patient outcomes and reduce costs. Hospitals particularly dominate the domain of cardiac monitoring equipment, leveraging their position as the primary point of contact for patients facing health challenges. With specialized machines and advanced monitoring technology, hospitals play a vital role in managing cardiovascular diseases (CVDs) and treating patients with a history of cardiac arrhythmia.

Teladoc Health, a notable player in the market, offers a comprehensive range of RPM devices and software tailored for hospitals and clinics. Their product portfolio includes Lite & Lite with Boom Camera, enabling a clear view of local care teams while monitoring precise patient vitals in crowded settings like the Neonatal Intensive Care Unit (NICU). Additionally, their compact virtual care device, the Mini, is specifically designed for behavioral health, providing improved audio and video capabilities for exam rooms and clinics. Teladoc Health's Solo Virtual Care Platform is a clinical and administrative healthcare solution, facilitating a scalable digital intake process and self-service check-in to support care coordination across healthcare networks.

As health systems face an ongoing shortage of clinicians, more hospitals are expected to embrace remote patient monitoring technology in the future. The increasing adoption of telehealth and remote patient monitoring is seen as a viable solution to address this challenge, enabling hospitals to monitor and care for patients remotely efficiently.

Key Company Profiles

• AMD Global Telemedicine
• GE Healthcare
• Koninklijke Philips
• Medtronic
• ResMed
• Teledoc Health
• Vivify Health
• 100-Plus
• Abbott
• ACL Digital
• Altumview
• Baxter
• Biobeat
• Biofourmis
• BIOTRONIK
• Boston Scientific
• Cardiologs
• Cardiomo
• CAREMINDr
• CareValidate
• Datos Health
• Dexcom
• Drägerwerk AG
• F.Hoffmann-La Roche
• GrandCare Systems
• Health Recovery Solutions
• Hinge Health
• Honeywell International
• iHealth Unified Care
• Intel
• iRhythm Technologies
• Limber Health
• Masimo
• MedM
• Medopad
• ModivCare
• NIHON KOHDEN
• OMRON
• OSI Systems
• OSPLabs
• Qardio
• Resideo Technologies
• Senseonics
• TeleMedCare
• Ventricle Health
• VitalConnect
• Vitls
• VivaLNK

Market Segmentation

Component

• Services
• Devices & Software

Application

• Cardiovascular Diseases
• Respiratory Diseases
• Diabetes
• Musculoskeletal Diseases
• Others

End-User

• Hospitals
• Home Healthcare Settings
• Ambulatory Care Settings
• Long-term Care Centers

Region

• South
• Texas
• Florida
• Virginia
• Oklahoma
• New Mexico
• West
• California
• Colorado
• Nevada
• Montana
• Midwest
• Michigan
• Illinois
• Ohio
• Northeast
• New York
• Pennsylvania
• Massachusetts

Check Out Some of the Top-Selling Research Reports:

Multiparameter Patient Monitoring Market - Global Outlook & Forecast 2023-2028: The global multiparameter patient monitoring market to reach USD 15.20 billion by 2028.

U.S. Tele-Intensive Care Unit (ICU) Market - Industry Outlook and Forecast 2022-2027: The U.S. Tele-Intensive Care Unit market to reach USD 2.4 billion by 2027.

Interactive Patient Engagement Solutions Market - Global Outlook & Forecast 2022-2027: The interactive patient engagement solutions market to reach USD 393.79 million by 2027.

Home Healthcare Market - Global Outlook and Forecast 2021-2026: The global home healthcare market to reach USD 390 Bn by 2026.

Table of Content

1 RESEARCH METHODOLOGY 

2 RESEARCH OBJECTIVES 

3 RESEARCH PROCESS 

4 SCOPE & COVERAGE 

4.1 MARKET DEFINITION 

4.1.1 INCLUSIONS 

4.1.2 EXCLUSIONS 

4.1.3 MARKET ESTIMATION CAVEATS 

4.2 BASE YEAR 

4.3 SCOPE OF THE STUDY 

4.3.1 MARKET SEGMENTATION BY COMPONENT 

4.3.2 MARKET SEGMENTATION BY APPLICATION 

4.3.3 MARKET SEGMENTATION BY END-USER 

4.3.4 MARKET SEGMENTATION BY GEOGRAPHY 

5 REPORT ASSUMPTIONS & CAVEATS 

5.1 KEY CAVEATS 

5.2 CURRENCY CONVERSION 

5.3 MARKET DERIVATION 

6 MARKET AT A GLANCE 

7 PREMIUM INSIGHTS 

7.1 OVERVIEW 

7.1.1 COMPONENT INSIGHTS 

7.1.2 APPLICATION INSIGHTS 

7.1.3 END-USER INSIGHTS 

8 INTRODUCTION 

8.1 BACKGROUND 

8.2 REMOTE PATIENT MONITORING: OVERVIEW 

8.3 REMOTE PATIENT MONITORING: GLOBAL OUTLOOK 

8.3.1 GLOBAL REMOTE PATIENT MONITORING BY GEOGRAPHY 

8.4 REMOTE PATIENT MONITORING: GLOBAL VS US OUTLOOK 

9 MARKET OPPORTUNITIES & TRENDS 

9.1 ADVANCES IN REMOTE PATIENT MONITORING TECHNOLOGY 

9.2 INCREASING DEMAND FOR WIRELESS PATIENT MONITORING AT HOME 

9.3 RISE OF VIRTUAL CLINICAL TRIALS 

9.4 AI & IOT DRIVES RPM ADOPTION 

9.5 TELEMEDICINE USHERING NEW OPPORTUNITIES FOR REMOTE MONITORING 

10 MARKET GROWTH ENABLERS 

10.1 INCREASING FOCUS ON DEVELOPING SOFTWARE & APPS FOR RPM BY MANUFACTURERS 

10.2 AGING POPULATION & CHRONIC DISORDERS AUGMENTING CONTINUOUS MONITORING DEMAND 

10.3 INCREASING INNOVATIONS IN WEARABLE TECHNOLOGY 

10.4 GROWING USE OF RPM TO MONITOR & IMPROVE PATIENT ENGAGEMENT 

10.5 GROWING USE OF MOBILE TECHNOLOGIES & SMART DEVICES IN RPM 

11 MARKET RESTRAINTS 

11.1 REGULATORY VARIATIONS ACROSS US 

11.2 LACK OF DATA ACCURACY 

11.3 THREAT FROM HEALTHCARE FRAUDS 

11.4 ACCESSIBILITY OR CONNECTIVITY OBSTACLES WITH PATIENTS 

12 MARKET LANDSCAPE 

12.1 MARKET OVERVIEW 

12.2 MARKET SIZE & FORECAST 

12.3 MARKET OPPORTUNITIES 

12.3.1 MARKET BY COMPONENT 

12.3.2 MARKET BY APPLICATION 

12.3.3 MARKET BY END-USER 

12.4 FIVE FORCES ANALYSIS 

12.4.1 THREAT OF NEW ENTRANTS 

12.4.2 BARGAINING POWER OF SUPPLIERS 

12.4.3 BARGAINING POWER OF BUYERS 

12.4.4 THREAT OF SUBSTITUTES 

12.4.5 COMPETITIVE RIVALRY 

13 COMPONENT 

13.1 MARKET SNAPSHOT & GROWTH ENGINE 

13.2 MARKET OVERVIEW 

13.3 SERVICES 

13.3.1 MARKET OVERVIEW 

13.3.2 MARKET SIZE & FORECAST 

13.4 DEVICES & SOFTWARE 

13.4.1 MARKET OVERVIEW 

13.4.2 MARKET SIZE & FORECAST 

14 APPLICATION 

14.1 MARKET SNAPSHOT & GROWTH ENGINE 

14.2 MARKET OVERVIEW 

14.3 CARDIOVASCULAR DISEASES 

14.3.1 MARKET OVERVIEW 

14.3.2 MARKET SIZE & FORECAST 

14.4 RESPIRATORY DISEASES 

14.4.1 MARKET OVERVIEW 

14.4.2 MARKET SIZE & FORECAST 

14.5 DIABETES 

14.5.1 MARKET OVERVIEW 

14.5.2 MARKET SIZE & FORECAST 

14.6 MUSCULOSKELETAL DISEASES 

14.6.1 MARKET OVERVIEW 

14.6.2 MARKET SIZE & FORECAST 

14.7 OTHERS 

14.7.1 MARKET OVERVIEW 

14.7.2 MARKET SIZE & FORECAST 

15 END-USER 

15.1 MARKET SNAPSHOT & GROWTH ENGINE 

15.2 MARKET OVERVIEW 

15.3 HOSPITALS 

15.3.1 MARKET OVERVIEW 

15.3.2 MARKET SIZE & FORECAST 

15.4 HOME HEALTHCARE SETTINGS 

15.4.1 MARKET OVERVIEW 

15.4.2 MARKET SIZE & FORECAST 

15.5 AMBULATORY SURGICAL CENTERS 

15.5.1 MARKET OVERVIEW 

15.5.2 MARKET SIZE & FORECAST 

15.6 LONG-TERM CARE CENTERS 

15.6.1 MARKET OVERVIEW 

15.6.2 MARKET SIZE & FORECAST 

16 COMPETITIVE LANDSCAPE 

16.1 COMPETITION OVERVIEW 

16.1.1 VENDORS ACTIVITIES 

16.2 MARKET SHARE ANALYSIS 

16.2.1 AMD GLOBAL TELEMEDICINE 

16.2.2 GE HEALTHCARE 

16.2.3 KONINKLIJKE PHILIPS 

16.2.4 MEDTRONIC 

16.2.5 RESMED 

16.2.6 TELADOC HEALTH 

16.2.7 VIVIFY HEALTH 

17 KEY COMPANY PROFILES 

17.1 AMD GLOBAL TELEMEDICINE 

17.2 GE HEALTHCARE 

17.3 KONINKLIJKE PHILIPS 

17.4 MEDTRONIC 

17.5 RESMED 

17.6 TELADOC HEALTH 

17.7 VIVIFY HEALTH 

18 OTHER PROMINENT VENDORS 

18.1 100-PLUS 

18.2 ABBOTT 

18.3 ACL DIGITAL 

18.4 ALTUMVIEW 

18.5 BAXTER 

18.6 BIOBEAT 

18.7 BIOFOURMIS 

18.8 BIOTRONIK 

18.9 BOSTON SCIENTIFIC 

18.10 CARDIOLOGS 

18.11 CARDIOMO 

18.12 CAREMINDR 

18.13 CAREVALIDATE 

18.14 CLEARARCH 

18.15 DATOS HEALTH 

18.16 DEXCOM 

18.17 DRÄGERWERK AG 

18.18 F. HOFFMANN-LA ROCHE 

18.19 GRANDCARE SYSTEMS 

18.20 HEALTH RECOVERY SOLUTIONS 

18.21 HINGE HEALTH 

18.22 HONEYWELL INTERNATIONAL 

18.23 IHEALTH UNIFIED CARE 

18.24 INTEL 

18.25 IRHYTHM TECHNOLOGIES 

18.26 LIMBER HEALTH 

18.27 MASIMO 

18.28 MEDM 

18.29 MEDOPAD 

18.30 MODIVCARE 

18.31 NIHON KOHDEN 

18.32 OMRON 

18.33 OSI SYSTEMS 

18.34 OSPLABS 

18.35 QARDIO 

18.36 SENSEONICS 

18.37 TELEMEDCARE 

18.38 VENTRICLE HEALTH 

18.39 VITALCONNECT 

18.40 VITLS 

18.41 VIVALNK 

19 REPORT SUMMARY 

19.1 KEY TAKEAWAYS 

19.2 STRATEGIC RECOMMENDATIONS 

20 QUANTITATIVE SUMMARY 

20.1 MARKET BY COMPONENT 

20.2 MARKET BY APPLICATION 

20.3 MARKET BY END-USER 

20.4 HOME HEALTHCARE SETTINGS BY REGION 

20.5 HOME HEALTHCARE SETTINGS BY COMPONENT 

20.6 HOME HEALTHCARE SETTINGS BY APPLICATION 

21 APPENDIX 

21.1 ABBREVIATIONS 

About Us:                             

Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.                           

We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.                            

Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.                             

Contact Us                          

Call: +1-312-235-2040                         
          +1 302 469 0707                        
Mail: enquiry@arizton.com                          
Contact Us: https://www.arizton.com/contact-us                          
Blog: https://www.arizton.com/blog                          
Website: https://www.arizton.com/          

Photo: https://mma.prnewswire.com/media/2099997/US_Remote_Patient_Monitoring_Market.jpg
Logo: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg