remote patient monitoring industry report by end users

Who are the end users of the remote patient monitoring market?

The end user of the remote patient monitoring market includes providers, payers, patients, and other end users. Providers is the largest end-users in the remote patient monitoring market. What are the major products in the remote patient monitoring market?

What is remote patient monitoring technology?

As per the scope of this report, remote patient monitoring technology comprises day-to-day monitoring devices, such as glucometers for patients with diabetes and heart or blood pressure monitors for patients getting cardiac care.

How is technology used to monitor patients within hospital rooms?

The technology has been developed with relatively simple applications to monitor patients within hospital rooms to the extent that normal activities at home can be allowed for the patient while still being monitored using modern communication and sensor technologies.

What is a multi-parameter remote monitoring device?

These multi-parameter remote monitoring devices are used not only by medical professionals but also by the health-conscious population, as sleep and activity monitors fall in these categories.

How big is the remote patient monitoring market?

The global remote patient monitoring market was valued at $30.5 billion in 2021 and is expected to reach $62 billion, growing at a CAGR of 12.5% during the forecast period.

How do you document remote patient monitoring?

To document CPT 99453, include the following:practitioner order for device deployment;condition(s) for which the patient is being monitored;device identification;date of delivery of the device to the patient; and.date(s) on which training is provided to the patient.

What can be monitored as remote patient monitoring?

There are many symptoms and conditions that can be tracked through remote patient monitoring, including:High blood pressure.Diabetes.Weight loss or gain.Heart conditions.Chronic obstructive pulmonary disease.Sleep apnea.Asthma.

Is the remote monitoring of patient data?

Remote patient monitoring, also referred to as remote physiologic monitoring, is the use of digital technologies to monitor and capture medical and other health data from patients and electronically transmit this information to healthcare providers for assessment and, when necessary, recommendations and instructions.

What are the two types of remote patient monitoring?

Common examples of remote health monitoring devices include continuous glucose monitors that remind diabetes patients to take their insulin, while allowing their physician to monitor the disease, digital blood pressure monitors that enable patients to remotely send physicians their blood pressure and blood oxygen ...

Is Remote Patient Monitoring considered telehealth?

2.4. Remote patient monitoring (RPM) is a type of home telehealth that enables patient monitoring as well as transfer of patient health data to a health care provider.

What is remote patient monitoring in healthcare?

Often abbreviated as RPM (and sometimes known as remote patient management), remote patient monitoring is a method of healthcare delivery that uses the latest advances in information technology to gather patient data outside of traditional healthcare settings.

What is remote clinical monitoring?

Remote monitoring in clinical trials means monitors don't visit the site to transfer and review the data. Instead, the data monitoring is done virtually. With the use of digital technology, CROs and study sponsors/stakeholders can see the data from wherever they are located.

How does remote monitoring work?

Remote patient monitoring devices tap digital technology to send communications between patients and providers. Patients monitor themselves to collect data about their health at various points throughout the day, then electronically transmit secure data in messages to their clinicians or technicians.

Who benefits from remote patient monitoring?

There are many benefits of remote patient monitoring (RPM) for clinicians — ease of access to patient data, the ability to deliver higher-quality care to more patients with a lower risk of burnout — and for healthcare providers — lower costs and higher efficiency, to name just a couple.

What is disadvantage of remote patient monitoring?

Remote patient monitoring does have some drawbacks, such as its reliance on technology that not all patients can afford. RPM systems need reliable internet connections. Some of your patients may not have broadband access, making it harder for them to participate in RPM setups.

What is the study period of this market?

The Global Remote Patient Monitoring Systems Market market is studied from 2019 - 2027. Read More

What is the growth rate of Global Remote Patient Monitoring Systems Market?

The Global Remote Patient Monitoring Systems Market is growing at a CAGR of 8.54% over the next 5 years. Read More

What is Global Remote Patient Monitoring Systems Market size in 2019?

The Global Remote Patient Monitoring Systems Market is valued at 1119 Million USD in 2019. Read More

What is Global Remote Patient Monitoring Systems Market size in 2027?

The Global Remote Patient Monitoring Systems Market is valued at 1730 Million USD in 2027. Read More

Which region has highest growth rate in Global Remote Patient Monitoring Systems Market?

Asia Pacific is growing at the highest CAGR over 2021- 2026. Read More

Which region has largest share in Global Remote Patient Monitoring Systems Market?

North America holds highest share in 2021. Read More

Who are the key players in Global Remote Patient Monitoring Systems Market?

Abbott Laboratories, Medtronic PLC, GE Healthcare, Boston Scientific Corporation, Omron Corporation are the major companies operating in Global Rem...

What are the factors that influence global remote patient monitoring market growth?

The increase in the incidence of cardiovascular diseases, the expansion of the elderly population, and an independent and healthy lifestyle are further expected to influence global remote patient monitoring market growth positively. Aging is considered the most significant risk factor for chronic diseases. As the majority population increases and ...

Which region is the leader in remote patient monitoring?

Geographically, the North American region leads the global remote patient monitoring market and is also expected to continue in that position during the forecast period. In 2019, North America accounted for 39.1% of the market for remote patient monitoring devices.

What is a significant factor predicted to increase the demand for hematology monitoring devices in the global remote patient monitoring

The increasing occurrence of diabetes is a significant factor predicted to increase the demand for hematology monitoring devices in the global remote patient monitoring devices market.

What is RPM in healthcare?

RPM emerged as one of the key approaches for assisting patients in the effects of the COVID-19 pandemic due to social distancing and lockdown steps to control viral spread & the adoption of digital technology in the healthcare sector is anticipated to the global RP M Market. Besides, it has a negative effect like lack of awareness in some countries, and mobile technology can be a strong engine. Still, to guide, direct and steer the program in the right direction, it needs a professional hand. Data security officers need to play an active role in the design of RPM programs.

Which country has the largest remote patient monitoring market?

North America accounted for the largest share of the global remote patient monitoring market in 2019. In 2019, North America accounted for the largest share of the remote patient monitoring market, followed by Europe. The large share of North America in the RPM market can be attributed to the rising prevalence of chronic conditions, ...

What is the global patient monitoring market?

Based on end users, the global remote patient monitoring market is broadly segmented into providers, payers, patients, and other end users . The providers' segment accounted for the largest share of the global market in 2019. This can be attributed to the increased adoption of remote monitoring in chronically ill and old aged patients, advancements in RPM monitoring devices, and the increasing number of RPM services offered by providers.

Why is telemedicine important?

In such cases, telemedicine has great potential to limit the spread of epidemics and healthcare-associated infections owing to its inherent benefits, such as the early detection of diseases and virtual visits, consequently reducing overall patient exposure. It certainly reduces the total number of in-person visits and travel included in the process of treatment. It is a safer mode of care delivery and slows down the spread of infectious diseases.

How much of healthcare providers are investing in remote monitoring?

According to the Consumer Technology Association, 88.0% of the healthcare providers are investing in or invested in remote monitoring services in 2019. Moreover, according to American Medical Association, the adoption of remote patient monitoring by physicians increased from 13% to 22% between 2016 and 2019.

What is the global remote healthcare market?

The global remote healthcare market size was valued at USD 6.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.0% from 2021 to 2028. The spread of the COVID-19 pandemic has increased the adoption of remote healthcare technologies by patients, payers, and providers. Many patients adopted real-time virtual health platforms to avoid visiting hospitals during the pandemic. Telehealth platforms offering real-time virtual health services such as American Well witnessed a 1000% increase in visits due to the pandemic. Moreover, telehealth claim lines increased by 4000% between March 2019 and March 2020 in the U.S. Increasing adoption of real-time virtual health services such as audio, video, and chatbox is estimated to drive the market growth potential.

How many visits did Teladoc have in 2019?

For instance, Teladoc reported a patient visit volume of 4.1 million visits in 2019 which increased to 10.6 million in 2020. Halodoc, a telehealth platform providing real-time virtual health service reported an increase in 101% of the daily active users in March 2020 as compared to 2019.

How many people use telehealth in 2019?

According to a survey conducted by American Well in 2019 in the U.S., 66% of the consumers were willing to use telehealth including real-time virtual health. Moreover, 64 million consumers were willing to shift their primary care physician in 2019 from 50 million in 2017 to video visits/consultations in the U.S.

What is the tele-ICU segment?

The tele-ICU segment dominated the market and accounted for the largest revenue share of 49.7% in 2020. Initiatives, collaborations, and partnerships undertaken by the key stakeholders are driving the segment. For instance, in May 2020, Philips Healthcare introduced an eICU program in Japan in collaboration with Showa University. This program was designed to improve high-risk patient outcomes and advance critical care globalization. The company has implemented similar programs in the U.K., Australia, Middle East, and the Americas. In February 2021, Hicuity Health and Covenant Health collaborated to extend tele-ICU care in the East Tennessee region in the U.S. Increasing awareness regarding the benefits of tele-ICU is fueling segment growth. According to an article published by Phillips, tele-ICUs result in a 20% reduction in death rates, a 30% reduction in length of hospital stay, and a 37% reduction in transfer of patients.

When will telehealth claim lines increase?

Moreover, telehealth claim lines increased by 4000% between March 2019 and March 2020 in the U.S. Increasing adoption of real-time virtual health services such as audio, video, and chatbox is estimated to drive the market growth potential. To learn more about this report, request a free sample copy.

When will tele-ICUs be available in India?

For instance, in August 2020, a new tele-ICU service was introduced in Maharashtra, India, Moreover, in March 2020, Sheba Medical Center and the Ichilov Hospital in Israel introduced AI-based tele-ICUs for supporting COVID-19 patients. Moreover, the shortage of ICU beds globally is driving the adoption of tele-ICUs thereby driving ...

Growing Prevalence of Chronic Diseases

Type-Based Insights

End User-Based Insights

• By end-user, the remote patient monitoring market is segmented into providers, payers, patients, and others. The providers segment held the largest share of the market in 2021, whereas the patient segment is estimated to register the highest CAGR in the market during the forecast period.

See more on theinsightpartners.com

Strategic Insights

Remote Patient Monitoring Market – by Type

Remote Patient Monitoring Market – by End User

Remote Patient Monitoring Market – by Geography

Company Profiles