Global Healthcare Digitalization & the Role of RPM Software
According to FutureWise analysis the market for Remote Patient Monitoring Software and Services in 2023 was US$ 11.32 billion, and is expected to reach US$ 111.01 billion by 2031 at a CAGR of 33.00%.
Remote patient monitoring (RPM) is a healthcare delivery system that enables healthcare providers to assess a patient's health status and medical condition remotely using digital technologies. This process involves remote monitoring devices and software that collect and transmit patient data to healthcare providers for analysis. The software used in RPM offers real-time data on vital signs, medication adherence, and other health metrics, allowing healthcare providers to make informed decisions about patient care. The advantages of RPM include improved patient outcomes, reduced hospital readmissions, and increased patient engagement in their own health.
Specialized telemedicine software serves as a bridge between caregivers and patients by providing a framework for ongoing communication and tracking. The market for remote patient monitoring devices has experienced significant changes due to the COVID-19 pandemic, which has encouraged more users to enroll in these programs and improved recovery rates. Additionally, it has increased access to care and made providers more willing to adopt these solutions.
According to the Centers for Disease Control and Prevention, around 100 million Americans suffer from hypertension, which heightens the risk of cardiovascular disease. During the pandemic, RPM was extensively utilized, facilitating virtual care in various fields, including psychiatry and cardiology. The growth of at-home care, coupled with the lessons learned during COVID-19, is expected to drive the remote patient monitoring industry to double in the near future. Research indicates that remote patient monitoring enhances patient compliance, improves medical management, and reduces healthcare costs
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Remote Patient Monitoring Software and Services Market Segmentation:
By Type
- Software
- Web based
- On Cloud
- Services
By Application
- Cancer Treatment
- Cardiovascular Diseases
- Diabetes Treatment
- Sleep Disorder
- Weight Management and Fitness Monitoring
- Other
By End user
- Healthcare Providers
- Healthcare Payers & Patients
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Competitive Landscape in Remote Patient Monitoring Software and Services Market:
- OSPLabs
- Wipro Ltd.
- MedM Inc.
- LeewayHertz
- Taazaa
- Medtronic PLC
- Welkin Health, Inc.
- Resideo Life Care Solutions
- Koninklijke Philips N.V.
- VivaLNK Inc.
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**Objectives of this Study: **
- To provide a comprehensive analysis of the Remote Patient Monitoring Software and Services Market By Type, By Application, By End user and By Region.
- To offer detailed insights into factors such as drivers, restraints, trends, and opportunities, as well as segmental and regional influences on market growth.
- To evaluate current market trends and forecast micro-markets, presenting overall market projections in the form of data sets and PowerPoint presentations.
- To predict the market size in key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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