Remote Patient Monitoring and Care Market Analysis, Growth, Demand Future Forecast by 2029

May 16, 2023

Data Bridge Market Research analyses that the Remote Patient Monitoring and Care market growing at a CAGR of 9.26% during the forecast period. Growing demand for self-monitoring and preventive medicine is expected to open up new market opportunities.

Remote patient monitoring and care employs a variety of technologies to collect medical data from a single location and securely transmit it to healthcare providers. This type of service allows a provider to continue tracking a patient's health care data after they are discharged from the hospital or care facility, lowering mortality rates.

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Market Analysis and Size

In recent years, due to the world's rapidly growing population and the prevalence of chronic diseases, there has been a growing need to expand healthcare access infrastructure, as well as the cost benefits of telehealth and remote patient monitoring technology. Chronic diseases account for 90 percent of total healthcare costs in the United States each year, according to the Centers for Disease Control and Prevention (CDC). These costs can be significantly reduced by implementing remote patient monitoring systems, which is expected to propel market growth.

RPM technologies enter the picture, detecting small changes in the patient's physiological data and encouraging self-monitoring. As a result, it reduces readmissions and avoidable hospitalizations. Furthermore, these technologies reduce the number of unnecessary trips to the doctor's office as well as the travel-related expenses required to receive quality medical care. RPM technologies, when properly implemented, can increase access to quality healthcare while saving time and money in the short and long term.

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Competitive Landscape and Remote Patient Monitoring and Care Market Share Analysis

The remote patient monitoring and care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to remote patient monitoring and care market.

Some of the major players operating in the remote patient monitoring and care market are Abbott, Aerotel Medical Systems (1998) Ltd., AMD Global Telemedicine, Inc., Baxter., Boston Scientific Corporation, Medtronic, GENERAL ELECTRIC COMPANY, Honeywell International Inc, Omron Healthcare, Inc., Proteus Digital Health, BioTelemetry, Inc., Nihon Kohden Corporation, F. Hoffmann-La Roche Ltd, Koninklijke Philips N.V., AMC Health, Biotronik, among others.

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