The global remote patient monitoring devices market size is expected to reach $20.8 billion in 2033, according to a new report by GlobalData Plc. This growth is largely driven by the increasing prevalence of chronic diseases, technological advancements, and aging population, which are presumed to drive the remote patient monitoring devices market growth over the forecast period.
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Remote Patient Monitoring Devices Market FAQs
The global remote patient monitoring devices size is forecast to be valued at $20.8 billion in 2033.
The remote patient monitoring devices market is expected to grow at a CAGR of 3.29% during the forecast period (2023-2033).
Increasing prevalence of chronic diseases and emphasis on patient-centric healthcare such as personalized treatment plans and improved patient engagement, coupled with advancements in remote monitoring technologies are key factors driving the market during forecast period. Additionally, key strategic partnerships and mergers and acquisitions in the space is expected to accelerate market growth.
Device Type Segment:
Some of the leading companies in the remote patient monitoring devices market are Medtronic Plc, Abbott Laboratories, Koninklijke Philips N.V, Nihon Kohden Corp, DexCom Inc, GE HealthCare Technologies Inc, Masimo Corp, Nonin Medical Inc, and Smiths Medical
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Remote Patient Monitoring Devices Market Dynamics
The widespread adoption of remote patient monitoring (RPM) in healthcare has led to the accumulation of vast amounts of medical data. To efficiently analyze and process this data, AI-based adaptive algorithms are being developed, enabling automated treatment recommendations and potential diagnoses based on patient information.
AI and ML are experiencing rapid growth in the healthcare sector due to their adaptability and continuous improvement capabilities. As RPM devices gather more data, AI-based models become increasingly accurate and precise over time.
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Remote Patient Monitoring Devices Market Report Highlights
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Remote Patient Monitoring Devices Market Scope
GlobalData Plc has segmented the RPM devices market report on the basis of device type and regions:
Global Remote Patient Monitoring Devices Device Type Outlook (Revenue, USD Million, (2022-2033)
Global Remote Patient Monitoring Devices Regional Outlook (Revenue, USD Million, (2021-2028)
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