Remote Patient Monitoring Market growth is driven by the rising
geriatric population and the growing need to expand healthcare access,
cost benefits of telehealth and remote patient monitoring, benefits of
RPM to reduce the burden on medical resources, advancements in
telecommunications, growing incidences of chronic diseases, and
increasing investments in telehealth and RPM are the major factors
driving the growth of this market.
Currently, Remote Patient Monitoring Market
is growing at a Compound Annual Growth Rate (CAGR) of 26.7% to reach
USD 175.2 Billion by 2027. The predominant factors influencing the
growth of the market include the benefits of RPM to reduce the burden on
medical resources, the monitoring benefits of telehealth and remote
patient monitoring services, advancements in telecommunications, an
increasing geriatric population, and the growing need to expand
healthcare access. However, the regulatory differences and challenges
among various regions, combined with informal usage of social media
practices and related healthcare fraud, are some factors that are
anticipated to negatively affect market growth during the forecast
period.
Downlod PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=77155492
Growth Drivers
Growth Opportunities
Challenges
Restraints
The prominent players operating in the Remote Patient Monitoring Market are
Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE
Healthcare (US), Cerner Corporation (US), Siemens Healthineers AG
(Germany), OMRON Healthcare (Japan), Boston Scientific Corporation (US)
Koninklijke
Philips N.V. (Netherlands) is the leading player in the remote patient
monitoring market. The company’s expertise, experience, and
comprehensive capabilities in various industries and business functions
enable it to maintain its leading position in the market. The company
has a wide global presence with North America, the Asia Pacific, the
Middle East, Africa, Latin America, and Europe. The company focuses on
achieving sustainable growth by enhancing its operating base and
launching competitive technologies. In 2020, Philips launched the Avalon
CL Fetal and Maternal Pod and Patch for remote monitoring in the US,
Europe, Australia, New Zealand, and Singapore to support fetal &
maternal monitoring. in 2020, the company launched data-driven
personalized connected care solutions for oral health, mother &
childcare, and sleep care—Sonicare oral healthcare ecosystem, Avent
mother and childcare ecosystem, and SmartSleep ecosystem in the remote
patient monitoring market.
Medtronic (Ireland) held the second
position in the global remote patient monitoring market in 2019. The
company has a wide geographic base—it operates in more than 350
locations in over 150 countries, with subsidiaries in Ireland, Israel,
and the US. The company markets many products and care management
services, including remote monitoring platforms and patient-centered
software. Medtronic focuses on long-term growth strategies of therapy
innovation, globalization, and economic value to increase its market
share. The company has also demonstrated a commitment to inorganic
growth strategies by adopting partnerships, agreements, and
collaborations to strengthen its remote patient monitoring market
position.
North America is the largest market
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=77155492
Recent Developments