Remote patient monitoring market to grow by USD 1,733.81M

Technavio, a leading provider of industry news and insights, is pleased to announce its latest report on the Remote Patient Monitoring Market. The report highlights the estimated growth and forecast for the market between 2022 and 2027, predicting an increase in market size of USD 1,733.81 million and a rise at a CAGR of 22.22%.

The Key drive such as the emergence of digital healthcare services, the concept of Healthcare 4.0, and the need for healthcare accessibility in remote areas. Integration of electronic devices, smartphones, and advanced medical technology is shaping the healthcare landscape, supported by the adoption of analytics, cloud computing, IoT, and AI. Mobile health is a prominent trend, delivering healthcare through mobile devices and addressing aging populations and chronic diseases.

The major Remote Patient Monitoring Market companies include Abbott Laboratories, Advantech Co. Ltd., Alten SA, Boston Scientific Corp., Caretaker Medical NA, Draegerwerk AG and Co. KGaA, Honeywell International Inc., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Napier Healthcare Solutions Pte Ltd. Nihon Kohden Corp. OMRON Corp., OSI Systems Inc. and OSP Labs.

These companies are actively implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence and competitiveness in Remote Patient Monitoring Market.

The global remote patient monitoring market is driven by the convergence of digital healthcare services, the emergence of Healthcare 4.0, and the imperative to extend healthcare access to remote areas. The integration of electronic devices, smartphones, and advanced medical technology is reshaping the healthcare landscape through innovations like analytics, cloud computing, IoT, and AI. The rising trend of mobile health addresses the needs of aging populations and those with chronic illnesses. However, challenges persist due to inconsistent reimbursement policies. North America, with its heightened awareness and accelerated demand due to the Covid-19 pandemic, is set to be a significant contributor to this market’s expansion. Technavio