PR Newswire
DUBLIN, Nov. 25, 2022
DUBLIN, Nov. 25, 2022 /PRNewswire/ -- The "Remote Patient Monitoring (RPM) Market 2022" report has been added to ResearchAndMarkets.com's offering.
The global remote patient monitoring market is projected to reach USD 175.2 Billion by 2027 from USD 53.6 Billion in 2022, at a CAGR of 26.7%
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.
However, the regulatory variations across regions, healthcare fraud, and informal usage of social media practices is expected to restrain the market growth during the forecast period.
Software and services segment is expected to grow at the highest rate during the forecast period
Based on product, remote patient monitoring is segmented into software & services and devices. The software & services segment is projected to register a higher CAGR during the forecast period. The high growth rate of this segment is mainly due to the increasing reimbursement for RPM programs and the rising number of chronic illnesses, thus leading to the growing adoption of RPM services across the globe.
Cardiac monitoring devices segment is estimated to account for the largest share of the RPM devices market in 2022
On the basis of type, the devices market is further segmented into cardiac monitoring devices, blood glucose monitoring devices, neurological monitoring devices, respiratory monitoring devices, multiparameter monitoring devices, fetal & neonatal monitoring devices, and other monitoring devices. In 2021, the cardiac monitoring devices segment accounted for the largest share of the market. The rising incidence of hypertension and cardiovascular diseases will give an impetus to the growth of this market.
North America is expected to dominate the remote patient monitoring market in 2022
In 2021, North America accounted for the largest share of the remote patient monitoring market, followed by Europe. The large share of North America in the RPM market can be attributed to the rising prevalence of chronic conditions, the need to reduce healthcare expenditure, and the increasing overall & geriatric population.
The market in the Asia Pacific region, on the other hand, is projected to register the highest CAGR during the forecast period. Emerging countries in the APAC region, such as India and China, offer lucrative growth opportunities for market players, primarily due to increasing the geriatric population, improving healthcare infrastructure, rapid economic growth, and rising living standards.
Premium Insights
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Key Industry Trends
Software and Services: Convenience and the High Utility of Rpm Are the Key Factors Driving the Demand for Remote Monitoring Software & Services
Devices
Providers
Company Profiles
Other Players
For more information about this report visit https://www.researchandmarkets.com/r/z1toez
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-remote-patient-monitoring-rpm-market-report-2022-2027-significant-opportunities-in-data-monetization-of-patient-data-301687136.html
SOURCE Research and Markets