Remote Patient Monitoring Devices Market - By Product (Cardiac Monitoring Devices, Blood Pressure Monitoring Devices, Neurological Monitoring Devices, Blood Glucose Monitoring Devices, Sleep Monitoring Devices), Application, End-use & Forecast to 2032

Industry Statistics

Remote Patient Monitoring Devices Market size was worth USD 14 billion in 2022 and is projected to witness robust growth at more than 11% CAGR through 2032 driven by the increasing prevalence of chronic diseases globally.
 

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The steadily increasing patient population suffering from chronic ailments such as heart disease and diabetes is expected to stimulate product demand. In light of the increasing healthcare burden, remote patient monitoring technologies assist physicians in prioritizing treatment by offering guidelines for treating each patient. Cases of cardiovascular diseases are growing at a rapid pace as a result of the increased adoption of a sedentary lifestyle and poor eating habits, such as excessive alcohol use and smoking, thereby boosting the market expansion.
 

High product costs to limit industry landscape

The cost of remote health monitoring systems ranges from USD 1000 to USD 25,000 on average. In addition, modern technologies embedded into these gadgets elevate their production costs further. As a result, the high cost of remote patient monitoring devices is expected to limit product uptake. Furthermore, increased demand for improved equipment to monitor a patient’s vitals in home care settings, clinics, pharmaceutical businesses, and clinical research organizations is also raising the cost of monitoring devices. Nonetheless, the availability of reimbursement schemes is expected to counter this constraint in the coming years.
 

Increasing awareness about remote cardiac monitoring devices to boost segment share

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Remote patient monitoring devices market from the cardiac monitoring devices segment accounted for over USD 3 billion in revenue in 2022 and is set to depict lucrative growth of over 11.5% through 2032 owing to the increasing aging population that is prone to cardiovascular disorders. Furthermore, growing patient awareness of remote cardiac monitoring devices is poised to provide market participants with new development prospects, supplementing segment development.
 

Availability of reimbursement policies to promote diabetes segment outlook

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In terms of application, the remote patient monitoring devices market from the diabetes segment is anticipated to generate around USD 9.5 billion by 2032, attributed to the rising prevalence of diabetes in highly populated countries such as the U.S., India, Pakistan, and China. According to the CDC, about 96 million Americans have prediabetes, and 8 out of 10 are unaware of their condition. Furthermore, the inclusion of expenses of diabetes care devices in healthcare insurance policies is likely to foster segment progress.
 

Increasing number of disabled patients to foster home-care settings segment share

Home-care settings segment held a sizable share of the remote patient monitoring devices market in 2022 and is estimated to witness significant growth at over 11% CAGR from 2023 to 2032 attributed to the aging population, a growing number of disabled infants and children, and an upsurge in the prevalence of chronic conditions such as obesity and diabetes. As these devices provide convenience to patients by allowing them to skip hospital visits, the demand for sophisticated remote patient monitoring is expected to increase in home care settings through 2032.
 

Growing geriatric population to augment North America industry statistics

North America remote patient monitoring devices market is poised to reach over USD 16 billion by 2032 owing to the expanding geriatric population base in the region. According to the U.S. Centers for Disease Control and Prevention, the number of individuals older than 65 years is projected to exceed 80.8 million by 2040, accounting for 25% of the American population, and this aging population is characterized by the occurrence of more than one chronic illness, which is likely to boost the regional market size.
 

Development of digitally advanced products to define the competitive landscape

The remote patient monitoring devices market comprises major healthcare devices and technology developers such as Boston Scientific Corporation, DexCom, Inc., Johnson & Johnson, Koninklijke Philips N.V., Baxter International Inc., OMRON Corporation, GE Healthcare, Medtronic, Siemens Healthineers AG, Abbott Laboratories, F. Hoffmann-La Roche AG, Cerner Corporation, VitalConnect, Honeywell International, Cisco Systems, Biotronik, and others. These companies are implementing advanced technologies for product innovation to bolster their global customer reach.
 

The remote patient monitoring devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million and volume in Units from 2018 to 2032 for the following segments:

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By Product

• Cardiac monitoring devices
• Blood pressure monitors
• Neurological monitoring devices
• Respiratory monitoring devices
• Multiparameter monitoring devices
• Blood glucose monitoring devices
• Fetal and neonatal monitoring devices
• Sleep monitoring devices
• Others

By Application

• Cardiovascular diseases
• Cancer
• Diabetes
• Neurological disorders
• Infectious diseases
• Respiratory disease
• Others

By End-use

• Home-care Settings
• Long-term Care
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
  • Poland
  • The Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Thailand
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel