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U.S. Remote Patient Monitoring and Care Market – Industry Trends and Forecast to 2031

Pharmaceutical

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U.S. Remote Patient Monitoring and Care Market – Industry Trends and Forecast to 2031

  • Pharmaceutical
  • Upcoming Report
  • Mar 2024
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

U.S. Remote Patient Monitoring and Care Market, By Product (Device, Mobile App, Hospital-Side Software, and Cloud Repository), Application (Cardiovascular Diseases, Diabetes, Chronic Respiratory Diseases, Sleep Disorder, Cancer, Dementia and Fall, Infertility, Weight Management and Fitness Monitoring, Dehydration, Bronchitis, Oncology, Infections, Hypertension, COVID-19, and Others), End User (Providers, Payers, Patients, and Others), Distribution Channel (Direct Sales, Retail Sales, and Others) – Industry Trends and Forecast to 2031.

U.S. Remote Patient Monitoring and Care Market Analysis and Size

The remote patient monitoring market addresses various health conditions, including cardiovascular diseases, diabetes, chronic respiratory diseases, sleep disorders, cancer, dementia, falls, and infertility. For instance, in cardiovascular care, wearable devices track heart rate and activity levels, while in diabetes management, continuous glucose monitoring systems provide real-time data. Such technology enables proactive healthcare interventions, improves patient outcomes, and reduces healthcare costs associated with chronic disease management.

Data Bridge Market Research analyses that the U.S. remote patient monitoring and care market, which was USD 2.77 billion in 2023, is expected to reach USD 24.64 billion by 2031, at a CAGR of 31.4% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation      

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product (Device, Mobile App, Hospital-Side Software, and Cloud Repository), Application (Cardiovascular Diseases, Diabetes, Chronic Respiratory Diseases, Sleep Disorder, Cancer, Dementia and Fall, Infertility, Weight Management and Fitness Monitoring, Dehydration, Bronchitis, Oncology, Infections, Hypertension, COVID-19, and Others), End User (Providers, Payers, Patients, and Others), Distribution Channel (Direct Sales, Retail Sales, and Others)

Market Players Covered

Abbott (U.S.), Medtronic (U.S.), Boston Scientific Corporation (U.S.), Wipro (India), Resideo Technologies Inc. (U.S.), Vivify Health (U.S.), Koninklijke Philips N.V. (Netherlands), Cardiomo (U.S.), Huma (U.K.), Welkin Health (U.S.), AlayaCare (Canada), General Electric (U.S.), Datos Labs Pvt Ltd. (Israel), ResMed (U.S.), Orion Health group of companies (New Zealand), F. Hoffmann-La Roche Ltd (Switzerland)

Market Opportunities

  • Increased Accessibility to Healthcare Services Remotely
  • Integration of IoT Devices for Health Monitoring

Market Definition

Remote patient monitoring and care is a healthcare delivery model enabled by technology, allowing healthcare providers to remotely monitor and manage patients' health outside traditional clinical settings. It involves the use of devices to collect patient data, which is transmitted to healthcare professionals for assessment and intervention, enhancing patient care and outcomes.

U.S. Remote Patient Monitoring and Care Market Dynamics

Drivers

  • Aging Population's Increasing Healthcare Needs

As the population ages, there is a surge in chronic conditions requiring consistent management and monitoring. Remote Patient Monitoring and Care Market addresses this by offering continuous health tracking outside clinical settings. This technology allows healthcare providers to remotely monitor vital signs, medication adherence, and other health indicators in real-time. Consequently, it enables timely interventions, reduces hospital admissions, and enhances overall patient outcomes, aligning with the growing demand for proactive and personalized healthcare solutions.

  • Advancements in Remote Monitoring Technology Solutions

Innovations such as wearable sensors, IoT devices, and telemedicine platforms enhance RPMC capabilities, enabling real-time data collection, analysis, and communication between patients and healthcare providers. These technological advancements enhance care quality, patient engagement, and care coordination while reducing healthcare costs. Consequently, the evolution of remote monitoring technologies serves as a key driver for the RPMC market's expansion.

Opportunities

  • Increased Accessibility to Healthcare Services Remotely

Remote patient monitoring (RPM) transforms healthcare by allowing patients to access medical attention and monitoring from any location. Utilizing wearable devices and telecommunication technologies, patients transmit vital signs and health data to healthcare providers, enabling prompt interventions and tailored care plans. This enhanced accessibility boosts patient engagement, satisfaction, and health outcomes while reducing healthcare expenses. RPM significantly bridges gaps in healthcare accessibility and delivery, particularly benefiting those with chronic conditions or limited mobility.

  • Integration of IoT Devices for Health Monitoring

The integration of IoT (Internet of Things) devices for health monitoring transforms the remote patient monitoring and care market. These devices, such as wearable sensors and smart medical devices, enable real-time tracking of patient vital signs and health data outside traditional healthcare settings. This integration presents opportunities for healthcare providers to remotely monitor patients' health conditions, enhance early detection of potential issues, improve treatment adherence, and ultimately provide more personalized and proactive care, leading to better patient outcomes and increased efficiency in healthcare delivery.

Restraints/Challenges

  • Privacy and Security Concerns Regarding Patient Data

Privacy and security concerns regarding patient data pose a significant challenge in the remote patient monitoring and care market. These concerns create hesitancy among patients and healthcare providers to adopt such technologies fully. Without robust measures to safeguard sensitive information, trust in remote monitoring solutions diminishes, hindering market growth. Additionally, regulatory complexities surrounding data protection further impede the expansion of remote care technologies, limiting their potential impact on healthcare delivery and patient outcomes.

  • Limited Reimbursement Policies for Remote Monitoring Services

Without adequate reimbursement, healthcare providers may be hesitant to invest in remote monitoring technologies, leading to slower adoption rates. Additionally, patients may face financial barriers to accessing these services, further limiting market growth. The absence of comprehensive reimbursement policies also hampers innovation and investment in remote monitoring solutions, restraints the market's potential to address healthcare challenges effectively.

This U.S. remote patient monitoring and care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the U.S. remote patient monitoring and care market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In October 2023, Ricoh USA, Inc. introduced the RICOH Remote Patient Monitoring (RPM) service, addressing healthcare staffing challenges in the remote patient monitoring and care market. This service offers a solution to alleviate staffing constraints by leveraging technology for remote patient monitoring, enhancing efficiency and effectiveness in healthcare delivery
  • In August 2023, GE HealthCare obtained FDA approval for a portrait patient monitoring system, bolstering its presence in the remote patient monitoring and care market. This system integrates wearable sensors to wirelessly transmit vital signs to a monitor, enhancing real-time patient monitoring capabilities and driving innovation in remote healthcare delivery
  • In March 2021, Koninklijke Philips N.V. partnered with Dutch development bank FMO to enhance access to quality primary care in Africa. This collaboration underscores the power of private sector innovation, fostering affordable care models for underserved communities. Such initiatives drive healthcare expenditure growth in Africa while expanding business presence and opportunities in the remote patient monitoring and care market
  • In March 2021, F.Hoffmann-La Roche Ltd announced a merger agreement with GenMark Diagnostics, Inc., enhancing its capabilities in the remote patient monitoring and care Market. This strategic move grants Roche access to advanced technology for comprehensive pathogen testing from a single patient sample, strengthening its position and expanding business opportunities in the healthcare sector

U.S. Remote Patient Monitoring and Care Market Scope

The U.S. remote patient monitoring and care market is segmented on the basis of product, application, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Device
  • Mobile App
  • Hospital-Side Software
  • Cloud Repository

 Application

  • Cardiovascular Diseases
  • Diabetes
  • Chronic Respiratory Diseases
  • Sleep Disorder
  • Cancer
  • Dementia and Fall
  • Infertility
  • Weight Management and Fitness Monitoring
  • Dehydration
  • Bronchitis
  • Oncology
  • Infections
  • Hypertension
  • COVID-19
  • Others

 End User

  • Providers
    • Hospital and Clinics
    • Home Care Settings and Long Term Care Centres
    • Ambulatory Care Centres
    • Passive Exoskeletons
  • Payers
  • Patients
  • Others
    • Long Term Care
    • Post- Acute Care

Distribution Channel

  • Direct Sales
  • Retail Sales
  • Others

U.S. Remote Patient Monitoring and Care Market Regional Analysis/Insights

The U.S. remote patient monitoring and care market is analysed and market size insights and trends are provided by product, application, end user, and distribution channel as referenced above.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.[AN4] 

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The U.S. remote patient monitoring and care market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for U.S. remote patient monitoring and care market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the U.S. remote patient monitoring and care market. The data is available for historic period 2016-2021.

Competitive Landscape and U.S. Remote Patient Monitoring and Care Market Share Analysis

The U.S. remote patient monitoring and care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to U.S. remote patient monitoring and care market.

Some of the major players operating in the U.S. remote patient monitoring and care market are:

  • Abbott (U.S.)
  • Medtronic (U.S.)
  • Boston Scientific Corporation (U.S.)
  • Wipro (India)
  • Resideo Technologies Inc. (U.S.)
  • Vivify Health (U.S.)
  • Koninklijke Philips N.V. (Netherlands)
  • Cardiomo (U.S.)
  • Huma (U.K.)
  • Welkin Health (U.S.)
  • AlayaCare (Canada)
  • General Electric (U.S.)
  • Datos Labs Pvt Ltd. (Israel)
  • ResMed (U.S.)
  • Orion Health group of companies (New Zealand)
  • F. Hoffmann-La Roche Ltd (Switzerland)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The U.S. remote patient monitoring and care market size will be worth USD 24.64 billion by 2031.
The growth rate of the U.S. remote patient monitoring and care market is 31.4% by the year 2031.
The Aging population's increasing healthcare needs & advancements in remote monitoring technology solutions are the growth drivers of the U.S. remote patient monitoring and care market.
Product, application, end user, and distribution channel are the factors on which the U.S. remote patient monitoring and care market research is based.
Major companies in the U.S. remote patient monitoring and care market are Abbott (U.S.), Medtronic (U.S.), Boston Scientific Corporation (U.S.), Wipro (India), Resideo Technologies Inc. (U.S.), Vivify Health (U.S.), Koninklijke Philips N.V. (Netherlands), Cardiomo (U.S.), Huma (U.K.), Welkin Health (U.S.), AlayaCare (Canada), General Electric (U.S.), Datos Labs Pvt Ltd. (Israel), ResMed (U.S.), Orion Health group of companies (New Zealand), F. Hoffmann-La Roche Ltd (Switzerland).
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