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DESCRIPTION
Key driving factors of remote patient monitoring market include rising geriatric population and growing need to expand healthcare access, rising demand for in-house monitoring and rising accuracy of these devices and software. Challenges in remote patient monitoring domain include high cost of development and healthcare fraud. The global remote patient monitoring market is estimated to be valued at ~ $40 Billion in 2023, and is expected to grow at a CAGR of ~12%. RPM devices have held the most significant share in the market since 2022, with North America dominating the regional market share.
Key players functioning in remote patient monitoring sector are Koninklijke Philips N.V, Ge Healthcare, Medtronic Plc, Siemens Healthineers Ag, Abbott Laboratories and Omron Healthcare.
Recent Developments:
MARKET DYNAMICS
Drivers: Rising geriatric population and growing need to expand healthcare access
The increasing global geriatric population serves as a primary market driver for Remote Patient Monitoring (RPM), with the UN projecting that individuals aged 60 and above will reach 2.1 billion by 2050, constituting 22% of the global population. This significant demographic shift is characterized by longer life expectancies and higher rates of chronic conditions like diabetes, cardiovascular diseases, and respiratory disorders, creating substantial demand for remote monitoring solutions. The elderly population often faces mobility challenges and requires regular vital sign monitoring, making RPM an ideal solution for maintaining continuous healthcare oversight while reducing the need for frequent clinical visits.
Additionally, the growing need to expand healthcare access addresses critical challenges in both urban and rural settings. In rural areas, RPM bridges geographical barriers by providing specialist care access to patients in remote locations. A study by the American Hospital Association revealed that 76% of U.S. hospitals are now connecting with patients through telehealth and RPM solutions, marking a significant shift in healthcare delivery models.
Opportunities: Supportive central data management systems
The integration of supportive central data management systems represents a significant market opportunity in Remote Patient Monitoring (RPM), particularly as healthcare organizations increasingly leverage cloud-based platforms and advanced analytics. According to a recent Healthcare Information and Management Systems Society (HIMSS) survey, 76% of healthcare organizations that implemented centralized data management systems reported improved clinical decision-making and reduced time to intervention. These centralized systems enable seamless aggregation of patient data from multiple RPM devices, creating comprehensive health profiles that support more informed clinical decisions.
The opportunity lies in developing robust platforms that can not only collect and store vast amounts of patient data but also provide actionable insights through AI and machine learning algorithms. Modern central data management systems are evolving to include features like automated alert systems, predictive analytics, and integration with Electronic Health Records (EHRs). A notable example is the Mayo Clinic’s implementation of a centralized RPM data platform, which reduced hospital readmissions by 40% for high-risk cardiac patients through early intervention enabled by real-time data analysis. This demonstrates the significant potential for healthcare organizations to improve patient outcomes while reducing operational costs through effective data management systems in RPM deployments.
Challenges: Healthcare frauds
Healthcare fraud in Remote Patient Monitoring (RPM) presents a significant market challenge, particularly as the adoption of digital health solutions expands. Fraudulent activities include billing for non-existent patient monitoring sessions, falsifying patient data, and submitting claims for services not rendered. Common schemes involve providers billing for RPM services without proper patient consent, using automated systems to generate false readings, or charging for monitoring periods that exceed actual patient engagement times.
RPM devices dominated the remote patient monitoring market share in 2023
In 2023, RPM devices emerged as the dominant segment in the Remote Patient Monitoring market, primarily driven by the widespread adoption of vital sign monitors, blood glucose monitors, and cardiac monitoring devices. This dominance is attributed to the increasing prevalence of chronic diseases and the growing acceptance of wearable technology among patients. For instance, continuous glucose monitoring devices saw particularly strong growth, with market leader Dexcom reporting a 31% increase in global device shipments in 2023.
Diabetes segment accounted for the largest share in 2023
The diabetes segment maintained market leadership in the Remote Patient Monitoring market during 2023, driven by the escalating global diabetes prevalence and the critical need for continuous glucose monitoring. The International Diabetes Federation reports that approximately 537 million adults were living with diabetes in 2021, making consistent blood glucose monitoring essential for disease management. This segment’s dominance is reinforced by the widespread adoption of advanced continuous glucose monitoring (CGM) systems and connected insulin pumps that enable real-time data transmission to healthcare providers.
Significant market share was held by hospitals in 2022
Remote patient monitoring serves a number of end-users such as hospitals, home care, ambulatory care centers and others
The traditional healthcare facilities, i.e. hospitals remained the significant holder of user market share due to increase in the adoption rates of RPM devices globally.
North America held the largest market share in remote patient monitoring in the forecast period
Remote patient monitoring market research included a comprehensive analysis of five key regions:
All regions were evaluated based on these following factors- healthcare infrastructure, regulatory landscape, technological adoption, and market dynamics. The research observed that North America held the largest share in the remote patient monitoring domain during the forecast period, primarily due to its advanced healthcare systems, high adoption rates, and the presence of major market players driving innovation in this sector.
As per the historical and the base year of the report (2022 and 2023, respectively), key players in remote patient monitoring were Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), Ge Healthcare (US), Cerner Corporation (US), Siemens Healthineers Ag (Germany), Omron Healthcare (Japan), Boston Scientific Corporation (US), Abbott Laboratories (US), Resideo Life Care Solutions (US), among others.
Introduction
Market Definition
Remote Patient Monitoring (RPM) is a technology-enabled healthcare delivery modality that leverages IoT-connected medical devices, biosensors, and telecommunications infrastructure to systematically capture, transmit, evaluate, and store physiological data from patients in non-clinical settings. This interoperable digital health solution facilitates continuous monitoring of vital biometrics, disease-specific parameters, and patient-reported outcomes through FDA-cleared devices and HIPAA-compliant platforms. The collected data undergoes algorithmic analysis to identify clinically significant trends and acute changes, enabling healthcare providers to implement timely interventions, adjust treatment protocols, and deliver evidence-based care management. RPM is particularly efficacious for chronic disease management, post-acute care transitions, and preventive healthcare delivery, demonstrating improved clinical outcomes, reduced hospital readmissions, and enhanced patient engagement through real-time bidirectional communication between providers and patients.
FIGURE: REMOTE PATIENT MONITORING MARKET SEGMENT
Sources: Company Websites and Wissen Research Analysis
FIGURE: YEARS FRAMEWORK CONSIDERED IN THE STUDY
Sources: Wissen Research Analysis
Key Stakeholders
Key objectives of the Study
Research Methodology
The objective of the study is to analyze the key market dynamics such as drivers, opportunities, challenges, restraints, and key player strategies. To track company developments such as product launches and approvals, expansions, and collaborations of the leading players, the competitive landscape of the remote patient monitoring market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches will be used to estimate the market size. To estimate the market size of segments and sub segments the market breakdown and data triangulation will be used.
FIGURE: RESEARCH DESIGN
Sources: Wissen Research Analysis
Research Approach
Collecting Secondary Data
The secondary research data collection process involves the usage of secondary sources, directories, databases, annual reports, investor presentations, and SEC filings of companies. Secondary research will be used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the remote patient monitoring market. A database of the key industry leaders will also be prepared using secondary research.
Collecting Primary Data
The primary research data will be conducted after acquiring knowledge about the remote patient monitoring market scenario through secondary research. A significant number of primary interviews will be conducted with stakeholders from both the demand side and supply side (including various industry experts, such as Directors, Chief X Officers (CXOs), Vice Presidents (VPs) from business development, marketing and product development teams, product manufacturers) across major countries of North America, Europe, Asia Pacific, and Rest of the World. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.
FIGURE: BREAKDOWN OF PRIMARY INTERVIEWS FROM SUPPLY SIDE
FIGURE: BREAKDOWN OF PRIMARY INTERVIEWS FROM DEMAND SIDE
FIGURE: PROPOSED PRIMARY PARTICIPANTS FROM DEMAND AND SUPPLY SIDE
Note: Above mentioned companies are non- exhaustive
Market Size Estimation
All major manufacturers offering various remote patient monitoring will be identified at the global/regional level. Revenue mapping will be done for the major players, which will further be extrapolated to arrive at the global market value of each type of segment. The market value of remote patient monitoring market will also split into various segments and sub segments at the region level based on:
FIGURE: REVENUE MAPPING BY COMPANY (ILLUSTRATION)
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
FIGURE: REVENUE SHARE ANALYSIS OF KEY PLAYERS (SUPPLY SIDE)
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
FIGURE: MARKET SIZE ESTIMATION TOP-DOWN AND BOTTOM-UP APPROACH
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
FIGURE: ANALYSIS OF DROCS FOR GROWTH FORECAST
Sources: World Health Organization (WHO), the Organization for Economic Co-operation and Development (OECD), National Center for Biotechnology Information (NCBI), National Institutes of Health (NIH), National Library of Medicine, The National Medical Products Administration (NMPA), United States Food & Drug Administration (US FDA), Orange book, Purple book, Clinical trials.gov, Pan American Health Organization (PAHO), Department of health and Human Services (HHS), The Central Drugs Standard Control Organization (CDSCO)
FIGURE: GROWTH FORECAST ANALYSIS UTILIZING MULTIPLE PARAMETERS
Sources: Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentation, Paid Database, and Wissen Research Analysis.
Research Design
After arriving at the overall market size-using the market size estimation processes-the market will be split into several segments and sub segment. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub segment, the data triangulation, and market breakdown procedures will be employed, wherever applicable. The data will be triangulated by studying various factors and trends from both the demand and supply sides in the remote patient monitoring market industry.`
Sources: Company Website, Press Releases, Annual Reports, Paid Data Sources, and Wissen Research Analysis and the above mentioned sources
1. Introduction
1.1 Key Objectives
1.2 Definitions
1.2.1 In Scope
1.2.2 Out of Scope
1.3 Scope of the Report
1.4 Scope Related Limitations
1.5 Key Stakeholders
2. Research Methodology
2.1 Research Approach
2.2 Research Methodology / Design
2.3 Market Sizing Approach
2.3.1 Secondary Research
2.3.2 Primary Research
3. Executive Summary & Premium Content
3.1 Global Market Outlook
3.2 Key Market Findings
4. Market Overview
4.1 Market Dynamics
4.1.1 Drivers/Opportunities
4.1.2 Restraints/Challenges
4.2 End User Perception
4.3 Need Gap
4.4 Supply Chain / Value Chain Analysis
4.5 Industry Trends
4.6 Porter’s Five Forces Analysis
4.7 Pricing Analysis
4.8 Reimbursement Scenario
5. Patent Analysis
5.1 Top Assignees in Remote Patient Monitoring Market
5.2 Geography Focus of Top Assignees
5.3 Legal Status of Remote Patient Monitoring Patents
5.4 Assignee Segmentation
5.5 Network Analysis of Top Collaborating Entities in Remote Patient Monitoring Patent Applications
5.6 Technology Evolution in Remote Patient Monitoring
5.7 Key Patents in Remote Patient Monitoring
5.8 Patent Trends and Innovations
5.9 Key Players and Patent Portfolio Analysis
6. Remote Patient Monitoring Market, by Type (2023-2030, USD Million)
6.1 Software and Services
6.2 Devices
6.2.1 Cardiac Monitoring Devices
6.2.2 Blood Pressure Monitoring Devices
6.2.3 Neurological Monitoring Devices
6.2.4 Respiratory Monitoring Devices
6.2.5 Multiparameter Monitoring Devices
6.2.6 Blood Glucose Monitoring Devices
6.2.7 Fetal and Neonatal Monitoring Devices
6.2.8 Weight Monitoring Devices
6.2.9 Other Monitoring Devices
7. Remote Patient Monitoring Market, by Application (2023-2030, USD Million)
7.1 Oncology
7.2 Cardiovascular Diseases
7.3 Diabetes
7.4 Sleep Disorders
7.5 Weight Management and Fitness Monitoring
7.6 Bronchitis
7.7 Infections
7.8 Virus
7.9 Dehydration
7.10 Hypertension
7.11 Others
8. Remote Patient Monitoring Market, by End Users (2023-2030, USD Million)
8.1 Hospitals and Clinics
8.2 Home Care Setting
8.3 Long Term Care Centres
8.4 Ambulatory Care Centres
8.5 Others
9. Remote Patient Monitoring Market, by Region (2023-2030, USD Million)
9.1 North America
9.1.1 US
9.1.2 Canada
9.2 Europe
9.2.1 UK
9.2.2 France
9.2.3 Germany
9.2.4 Italy
9.2.5 Spain
9.2.6 Rest of Europe
9.3 Asia Pacific
9.3.1 China
9.3.2 India
9.3.3 Japan
9.3.4 South Korea
9.3.5 Australia and New Zealand
9.3.6 Rest of Asia Pacific
9.4 Middle East and Africa
9.5 Latin America
10. Competitive Analysis
10.1 Key Player’s Footprint Analysis
10.2 Market Share Analysis
10.3 Key Brand Analysis
10.4 Regional Snapshot of Key Players
10.5 R&D Expenditure of Key Players
11. Company Profiles2
11.1 Koninklijke Philips N.V. (Netherlands)
11.1.1 Business Overview
11.1.2 Product Portfolio
11.1.3 Financial Snapshot3
11.1.4 Recent Developments
11.1.5 SWOT Analysis
11.2 Medtronic (Ireland)
11.3 GE Healthcare (US)
11.4 Cerner Corporation (US)
11.5 Siemens Healthineers Ag (Germany)
11.6 Omron Healthcare (Japan)
11.7 Boston Scientific Corporation (US)
11.8 Abbott Laboratories (US)
11.9 Resideo Life Care Solutions (US)
11.10 Vivify Health, Inc. (US)
11.11 Alten Calsoft Labs (France)
11.12 Preventice Solutions (US)
11.13 Βιο-Βeat Technologies (Israel)
11.14 Vitalconnect (US)
11.15 Welch Allyn (US)
11.16 Teladoc Health Inc. (US)
11.17 Dexcom Inc. (US)
11.18 Irhythm Technologies, Inc. (US)
11.19 Vivalnk Inc. (US)
11.20 Bardy Diagnsotics, Inc. (US)
11.21 Others Key Players
11.21.1 Health Beats
11.21.2 Starling Medical
11.21.3 Alive Cor, Inc.
11.21.4 Αktiia
11.21.5 Τytocare
12. Appendix
12.1 Industry Speak
12.2 Questionnaire
12.3 Available Custom Work
12.4 Adjacent Studies
12.5 Authors
13. References
Key Notes:
Note 1 – Contents in the ToC / market segments are tentative and might change as the research proceeds.
Note 2 – List of companies is not exhaustive and might change during the course of study.
Note 3 – Details on key financials might not be captured in case of unlisted companies.
Note 4 – SWOT analysis will be provided for top 3-5 companies.