Stratview Research has published a new report titled “Remote Patient Monitoring Market” which is segmented By Product (Software & Services, Devices), By Application (Cancer, Cardiovascular Diseases, Bronchitis, Diabetes, Infections, Others), By End-User (Hospital Based Patients, Ambulatory Patients, Home Healthcare), and By Region (North America, Europe, Asia-Pacific, and the Rest of World).
As per the study, the market is estimated to grow from USD 52.9 billion in 2022 to USD 229.4 billion by 2028 at a healthy CAGR of 27.7% during the forecast period of 2022-2028.
Remote Patient Monitoring is a healthcare method that involves the usage of technology to gather patient data outside healthcare facilities. It helps to collect the medical data of patients from one place and transmit the healthcare provider at different locations electronically for assessment and recommendation.
It allows the healthcare provider to track data of a patient discharged from a hospital to a home or a care facility and thus, helps to reduce readmission rates.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By End User Type
The Hospital-Based Patient segment accounted for a substantial market share in 2022.
The market has been divided into hospital-based, ambulatory, and home healthcare. The segment growth can be attributed to the prevalence of a large number of patients in the hospitals. The home healthcare segment is projected to register the fastest CAGR due to the increasing number of people interacting with the doctors at home, convenience, availability of skilled staff, and cost efficiency.
Which Region is expected to remain the largest market?
North America accounted for the largest market share in 2022 and is projected to continue its dominance during the review period due to the increasing prevalence of chronic diseases, expanding geriatric populace, and high demand for low-cost healthcare treatment.
The market in the Asia-Pacific region is projected to register a healthy growth rate on account of the rising number of people suffering from chronic diseases and the increasing adoption of digitally advanced solutions.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players acting in the Remote Patient Monitoring Market:
- Abbott Laboratories (The U.S)
- GE Healthcare (The U.S)
- Boston Scientific Corporation (The U.S)
- Mindray Medical International Limited (China)
- Johnson & Johnson (The U.S)
- Omron Corporation (Japan)
- Nihon Kohden Corporation (Japan)
- Honeywell Life Care Solutions (The U.S)
- Koninklijke Philips N.V. (Netherlands)
- OSI Systems, Inc. (The U.S)
- F. Hoffmann-La Roche AG (Switzerland)
- Smiths Medical, Inc. (The U.S)
Key questions answered by the report.
- What is the projected CAGR for revenue from the Remote Patient Monitoring Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Remote Patient Monitoring Market?
- Which are the major market players?
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