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Remote Patient Monitoring Devices Market Trends

Report ID: GMI5563
Published Date: Apr 2023
Report Format: PDF

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Remote Patient Monitoring Devices Market Trends

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.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for remote patient monitoring devices was valued at USD 14 billion in 2022 and is estimated to depict robust growth at more than 11% CAGR through 2032 owing to the increasing prevalence of chronic diseases globally.

The cardiac monitoring devices segment accounted generated more than USD 3 billion in revenue in 2022 and is poised to grow significantly at a 11.5% CAGR through 2032, driven by the growing patient awareness about the benefits of remote cardiac monitoring devices.

Remote patient monitoring devices market in North America is projected to surpass a valuation of USD 16 billion by the end of 2032 attributed to the expanding geriatric population across the region.

Some key companies operating in the market are 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.