North America Remote Patient Monitoring Market Trends, Sales, Supply, Demand and Analysis by Forecast to 2028
Market Introduction
North America is largest market for remote patient monitoring with
the US holding the largest market share followed by Canada. U.S. is the largest
market for the remote patient monitoring. The growth of market is due to the
factors such as increase in the demand of remote patient monitoring devices
from hospitals & clinics, rise prevalence in the cardiovascular disease,
and home healthcare in the US and the rise in the geriatric population in U.S.
In addition, the country is far ahead from the other developed and developing
countries in terms of technology. The advancement in the technology has forced
to develop various remote patient monitoring devices and technologies that are
used for its applications However, the veterans in healthcare industry are reluctant
to the adoption of remote patient monitoring systems which is restraining the
remote patient monitoring devices market. The companies in the region are
growing due to the adoption of the strategic steps such as agreements,
collaboration, product launches and many more. For instance, in Jan 2019,
NewYork-Presbyterian Hospital and Philips team up for remote patient
monitoring. NewYork-Presbyterian Hospital has planned to expand its virtual
care capabilities with remote monitoring services from Philips. The doctors at
Weill Cornell Medicine will utilize the Philips eCareCoordinator and
eCareCompanion solutions under hospital affiliation. The use of remote patient
monitoring devices can help to cut the chronic disease treatment cost and
duration. For instance, coronary artery disease is among the leading cause of
the morbidity and mortality in the well matured countries. As per the Center of
Disease Control report, one out of four deaths are attributed to coronary
artery disease. The coronary artery diseases cost human, productivity, more
than US$ 100 billion per year in US. In addition, the recently published report
by the American Heart Association in 2018 states that one of every three deaths
are caused due to cardiovascular diseases. Approximately 2,300 Americans die of
cardiovascular disease per year and an average of one death is recorded in
every 38 seconds.
Exploring the Growth
of the North America Remote Patient Monitoring Market
The North America Remote Patient Monitoring Market has
witnessed significant growth over the past few years, driven by the rising need
for efficient and real-time healthcare solutions. Remote patient monitoring
(RPM) refers to the use of digital technologies to collect medical data from
patients outside traditional healthcare settings, such as in the home, and
electronically transmit that information to healthcare providers for assessment
and recommendations. This approach not only enhances patient care but also
reduces the burden on healthcare systems. One of the primary factors fueling
the expansion of the North America Remote Patient Monitoring Market is the
increasing prevalence of chronic diseases, including diabetes, hypertension,
and cardiovascular conditions. With a growing aging population, the demand for
continuous health monitoring has increased, encouraging the adoption of RPM
technologies. These tools allow healthcare professionals to monitor vital signs
and symptoms remotely, thereby improving patient outcomes and preventing
complications.
📚 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝
𝐒𝐚𝐦𝐩𝐥𝐞
𝐏𝐃𝐅
𝐂𝐨𝐩𝐲@
https://www.businessmarketinsights.com/sample/TIPRE00025808
In addition, the growing integration of advanced
technologies such as artificial intelligence, wearable devices, and Internet of
Things (IoT) solutions has further strengthened the North America Remote
Patient Monitoring Market. These innovations have made it possible to gather
accurate and real-time health data, enabling proactive medical intervention.
Wearables like smartwatches and biosensors are becoming increasingly popular
among patients, promoting greater engagement in personal health management.
The COVID-19 pandemic played a crucial role in accelerating
the development of the North America Remote Patient Monitoring Market. During
the crisis, hospitals and clinics were overwhelmed with patient loads, making
remote monitoring an essential component of care delivery. As healthcare
providers sought to minimize in-person contact, RPM emerged as a safe and
effective alternative to manage patients with mild symptoms and those with
chronic conditions requiring ongoing care.
Furthermore, government support and favorable reimbursement
policies have helped boost the North America Remote Patient Monitoring Market.
Public and private healthcare systems are investing in digital health
infrastructure to meet the rising demand for remote care services. These
efforts are aimed at reducing hospital readmissions, lowering healthcare costs,
and enhancing the overall quality of care.
The increasing awareness among patients about the benefits
of remote monitoring is also playing a pivotal role in the growth of the North
America Remote Patient Monitoring Market. Patients appreciate the convenience,
safety, and empowerment that comes with being able to monitor their health from
the comfort of their homes. This shift in patient preference is encouraging
healthcare systems to adopt and integrate RPM solutions into their service
offerings.
Despite the positive trends, the North America Remote
Patient Monitoring Market still faces certain challenges. Data privacy
concerns, lack of standardization, and the need for robust connectivity
infrastructure in rural areas are some of the barriers to widespread adoption.
However, with continued investment in digital health and increased awareness of
its benefits, these challenges are expected to diminish over time. In
conclusion, the North America Remote Patient Monitoring Market is poised for
continued expansion as healthcare moves toward more personalized, data-driven,
and technology-enabled models of care. By enhancing access, improving patient
outcomes, and reducing costs, remote patient monitoring is shaping the future
of healthcare in North America.
📚𝐅𝐮𝐥𝐥
𝐑𝐞𝐩𝐨𝐫𝐭
𝐋𝐢𝐧𝐤
@ https://www.businessmarketinsights.com/reports/north-america-remote-patient-monitoring-market
𝐓𝐡𝐞 𝐋𝐢𝐬𝐭
𝐨𝐟
𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬
Medtronic
Koninklijke Philips N.V.
Boston Scientific Corporation
Abbott
OMRON Corporation
Siemens Healthineers AG
Nihon Kohden Corporation
General Electric Company
VitalConnect
Cerner Corporation
Market
Overview and Dynamics
The remote patient monitoring market in North America is
expected to grow from US$ 11,540.64 million in 2021 to US$ 76,657.92 million by
2028; it is estimated to grow at a CAGR of 31.1% from 2021 to 2028. Various
developing and under-developed countries still do not have access to healthcare
facilities. The patients from these places must travel a long way to get their
routine checkups done from healthcare professionals. Remote patient monitoring
and IoT enabled healthcare devices can help these patients to communicate as
well as get diagnosed and monitored with the healthcare professionals from
their homes, thus saving the time and cost involved in travelling. The
expansion of IoT and connected healthcare services in such locations can be a
prospective taken into consideration by the major companies operating in the
remote patient monitoring devices in healthcare market.
The North
America remote patient monitoring (RPM) market has witnessed substantial growth
in recent years, driven by a convergence of technological innovation, shifting
healthcare paradigms, and increasing chronic disease prevalence. Remote patient
monitoring refers to the use of digital technologies to collect medical data
from patients in one location and electronically transmit it to healthcare
providers in a different location. This approach enables healthcare
professionals to continue tracking a patient’s health data after discharge or
between visits, improving outcomes and reducing hospital readmissions.
One of
the primary drivers of the market is the rising burden of chronic diseases such
as diabetes, hypertension, cardiovascular ailments, and respiratory disorders.
These conditions require continuous monitoring and management to prevent
complications. RPM allows patients to remain in the comfort of their homes
while healthcare providers can monitor their health metrics in real-time. This
not only enhances the quality of care but also reduces the cost associated with
frequent hospital visits and long-term stays.
The aging
population across North America also significantly contributes to the growth of
this market. As people age, they become more susceptible to chronic illnesses
and often require regular monitoring. Remote patient monitoring technologies
offer a non-intrusive and convenient way to manage the health of elderly
patients. Devices like wearable sensors, pulse oximeters, blood pressure
monitors, and glucose meters have made it easier to track vital health
parameters. These tools are increasingly being integrated into comprehensive
healthcare plans, allowing for a proactive approach to patient care.
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
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