Global Remote Patient Monitoring Devices Market Trends, Forecast Report 2025-2037
Remote Patient Monitoring Devices Market size is poised to expand from USD 8.53 billion to USD 88.88 billion, exhibiting a CAGR of more than 19.5% throughout the forecast period, from 2025 to 2037. In the year 2025, the industry size of remote patient monitoring is estimated at USD 9.87 billion.
The market growth can primarily be ascribed to escalating cases of non-communicable diseases (NCDs) across the globe, the lack of space in hospitals for storage, and increasing number of patients suffering from chronic diseases. World Health Organization (WHO) released a set of data demonstrating that nearly 41 million people lose their lives every year due to non-communicable diseases.
Additionally, remarkable rise in government initiatives and spending and increasing cases of COPD are set to fuel the market growth. For instance, chronic obstructive pulmonary disease (COPD) accounted for approximately 3 million deaths across the globe in 2019. Moreover, improvement in lifestyle, growing awareness toward early diagnosis, and ongoing development of medical technology will boost the market size. As of 2019, the spending on medical technology was estimated to be nearly USD 30 billion while the revenue generated by the technology was anticipated to be around USD 450 billion.
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Remote Patient Monitoring Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Cases of Cardiovascular Diseases to Boost the Market Growth - It is estimated that approximately 18 million people die on account of cardiovascular (CVDs) disease every year while in 2020, around 350,000 people lost their lives due to coronary heart disease.The modern era is the era of advanced technology that is flourished with the new innovative technological development of medical devices. Remote patient monitoring are very useful for patients and healthcare providers since they are easy to operate and quite affordable. Almost every household has access to some sort of personal patient monitoring device. Some of the common examples of these devices are thermometers, ECG, blood pressure cuffs, pulse oximeters, scales, glucometers, and others.
- Rising Prevalence of Diabetes across the Globe- As of 2019, almost 2 million people deceased owing to diabetes while around 35 million individuals were still living with diabetes.
- Up Surged Demand Owing to Higher Penetration of Respiratory Diseases- As per the report published by the Pan America Health Organization (PAHO), it was demonstrated that around 534,242 deaths were caused by chronic respiratory diseases solely in America.
- Exponential Growth in the Global Healthcare Expenditure - World Bank stated that in 2019, the global health expenditure hit USD 1,121.9 per capita.
- The rising Cases of COVID-19 during the Pandemic Outbreak- As per the data in 2021, about 300 million cases of COVID-19 are reported across the globe including 5 million deaths.
Challenges
- A Significant Need for Higher Initial Investment
- Lack of Awareness and AffordabilityMost of the elders are not aware of the telehealth facilities. Also, some are not ready to leave behind the conventional method of appointments and refuse to adopt to the new techniques. The fraud associated with this in the name of insurance may victimize anyone including physicians and patients. These behavioral barriers are also significantly restraining market growth due to unfamiliarity and lack of experience.
- Lack of Requisite Medical Workforce
Remote Patient Monitoring Market: Key Insights
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
19.5% |
Base Year Market Size (2024) |
USD 8.53 billion |
Forecast Year Market Size (2037) |
USD 88.88 billion |
Regional Scope |
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Remote Patient Monitoring Segmentation
Indication (Oncology, Diabetes, Hypertension, COPD, Congestive Heart Failure)
The oncology segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be credited to rising cases of cancer globally, increasing awareness regarding healthcare owing to advancements in medical treatment, and increasing access to insurance. For instance, nearly 400 new cases of cancer per 100,000 individuals are diagnosed every year.
Our in-depth analysis of the global market includes the following segments:
By Monitoring Type |
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By Type |
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By Component |
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By Indication |
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By End-User |
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Customize this ReportRemote Patient Monitoring Industry - Regional Synopsis
The North America region remote patient monitoring market is set to dominate majority revenue share by the end of 2037. Factors such as the presence of the major key players and rising prevalence of chronic diseases, the growing demand for low-cost treatment, and increasing wireless and portable systems adoption are anticipated to propel the market revenue. Based on the data provided by the Centers for Disease Control and Prevention (CDC), it was stated that in every 10 Americans, 6 of them suffer from some sort of chronic diseases such as cancer, diabetes, stroke, and others.
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Companies Dominating the Remote Patient Monitoring Landscape
- F. Hoffmann-La Roche Ltd
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Koninklijke Philips N.V.
- Abbott Laboratories
- Bio Telemetry, Inc.
- Boston Scientific Corporation
- Omron Corporation
- Masimo Corporation
- Edward Lifesciences Corporation
- Nihon Kohden Corporation
- Medtronic plc
In the News
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F. Hoffmann-La Roche Ltd to unveil a digital PCR system, Digital LightCycler System. It is a next-generation PCR system that has been developed for assisting the clinical researcher to understand the type of cancer and if it is associated with an infection or genetic disease.
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Bio Telemetry, Inc. to complete its acquisition of On.Demand remote patient monitoring (RPM) and coaching platforms. The platform is mainly functioned by Envolve People Care, Inc. The acquisition took place to enhance the quality of life and decrease the cost of care.
Author Credits: Radhika Pawar
- Report ID: 2443
- Published Date: Jan 28, 2025
- Report Format: PDF, PPT