Remote Patient Monitoring and Care Market to Reach A CAGR of 9.26% by The Year 2029

July 07, 2023

Remote Patient Monitoring and Care Market Analysis and Insights

The RPM and care approach to healthcare delivery has become increasingly popular in recent years, particularly due to the COVID-19 pandemic, which has led to an increased demand for remote care options. The increasing awareness about RPM and care globally has enhanced the demand for the market. The rising healthcare expenditure for better health services also contributes to the market growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the increase in the improved technological advancement of devices also contributes to the rising demand for RPM and care.

The global remote patient monitoring and care market is expected to grow in the forecast year due to the rise in market players and the availability of advanced remote monitoring devices. Along with this, manufacturers are engaged in the developmental activity for launching novel devices and efficient and accurate RPM products in the market. The increasing development in the field of advanced healthcare techniques is further boosting market growth. However, difficulties such as the stringent regulations for the production and commercialization of RPM and care products are expected to restrain market growth in the forecast period.

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Market Definition

Remote Patient Monitoring (RPM) and care is a healthcare delivery model that allows healthcare providers to monitor patients remotely, using various technological devices and communication tools, without the need for face-to-face visits. This approach enables healthcare providers to deliver care and track patient health data from a distance, often in real time.

RPM typically involves the use of sensors-enabled wearable devices and other technological devices that can track a patient's vital signs, medication adherence, physical activity, and other health-related information. The collected data is then transmitted to healthcare providers who can analyze the information and take appropriate action, such as adjusting medication dosages, providing guidance on lifestyle changes, or scheduling follow-up appointments.

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Competitive Landscape and Global Remote Patient Monitoring and Care Market Share Analysis

The global remote patient monitoring and care market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breadth, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the market.

Some of the major market players operating in the global remote patient monitoring and care market are Medtronic, Boston Scientific Corporation, VitalConnect, Biobeat, General Electric, Koninklijke Philips N.V., OMRON Corporation, Abbott, Nihon Kohden Corporation, Vivify Health, Inc., Aerotel Medical Systems, BIOTRONIK SE & Co. KG, A&D Company, Limited, AliveCor, Inc., Masimo, Dexcom, Inc., Senseonics, Inc., ResMed, 100Plus., ChroniSense Medical, Ltd., Vitls, cardiomo, CoachCare, neteera, and Withings among others.

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