Revolutionizing Healthcare: Exploring the Growth Trajectory of Remote Patient Monitoring Technology

April 19, 2024

October 26^th,2023/Industry News Global/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Remote Patient Monitoring Market.

The Remote Patient Monitoring Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The Global Remote Patient Monitoring 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 helps to reduce healthcare costs and reduce the burden on medical resources. The rising prevalence of chronic diseases among consumers such as cancer, cardiovascular diseases, bronchitis, and diabetes coupled with the expanding geriatric populace is expected to drive the market growth at a significant rate during the review period.

Segments Analysis

By End User Type

"Hospital-based patient segment accounted for a substantial market share in 2022".

The Hospital-Based Patient segment accounted for a substantial market share in 2022. The market has been divided into hospital-based patients, ambulatory patients, 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 coupled with convenience, availability of skilled staff, and cost efficiency.

By Regional

"North America accounted for the largest market share in 2022".

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.

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Features of the Report

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Remote Patient Monitoring Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

About Stratview Research

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Author : Emily