Key Drivers and Opportunities in the Remote Health Monitoring Market: Insights into Trends and Growth
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What Long-Term Growth Rate is Expected for the Remote Health Monitoring Market Between 2025 and 2034?
The scale of the remote health monitoring market has seen notable advancement over recent years. Its expansion is predicted to rise from $5.66 billion in 2024 to $6.54 billion in 2025 with a compound annual growth rate (CAGR) of 15.6%. The past growth has been impacted by factors such as the increasing aged population and chronic illnesses, the acceptance of telemedicine, government regulations and initiatives, the preference of patients for home-based care, and the efficient cost of healthcare delivery.
The market size of remote health monitoring is projected to experience a significant increase in the coming years, reaching $11.36 billion in 2029 with a compound annual growth rate (CAGR) of 14.8%. This growth during the projected period can be linked to the fast-paced expansion of IoT in the healthcare sector, incorporation of artificial intelligence, readiness and response for pandemics, the use of remote patient monitoring in clinical studies, and a growing emphasis on preventive healthcare. Expected trends during this forecast period encompass the emergence of wearable technology, management of chronic diseases, IoT interconnectivity, the safeguarding of data and privacy, and the adoption of remote patient monitoring in elderly care.
Which Primary Drivers Are Supporting the Continued Expansion of the remote health monitoring Market?
The escalating number of elderly people worldwide is playing a significant role in propelling the progression of the remote health monitoring market. The term elderly population generally refers to individuals who are aged 65 and above. This upswing can be linked to declining fertility rates and improved life expectancy, causing a demographic shift where more of the population is senior citizens. Remote health monitoring systems are deployed to supervise the health of older people from a distance to pre-emptively detect any deteriorations in their conditions, thus prompting timely intervention by monitoring their physiological data. For example, the House of Commons Library, an administrative entity of the UK government, revealed in July 2024 that in 2022, around 12.7 million residents in the UK were aged 65 and above, accounting for 19% of the total population. By 2072, it’s projected that this would grow to 22.1 million, comprising 27% of the population. As such, the growing international aged population will stimulate the remote health monitoring market.
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What Are the Key Firms That Are Driving Transformation in the Remote Health Monitoring Market?
Major companies operating in the remote health monitoring market include:
• Nihon Kohden Corporation_x000D_
• Koninklijke Philips NV_x000D_
• Omron Corporation_x000D_
• F. Hoffmann-La Roche Ltd._x000D_
• American Telecare Inc._x000D_
What Current Trends in the Remote Health Monitoring Market Should Industry Players Pay Attention To?
The key trend gaining traction in the remote health monitoring market is technological innovation. Leading businesses in this market are focusing on the assimilation of cutting-edge technology like cloud computing and artificial intelligence (AI) in remote health monitoring systems for enhanced precision. AI and machine learning apply mathematical data models to enable a computer to learn without direct instruction, thereby revolutionizing the way healthcare organizations carry out large-scale remote patient monitoring and enhance patient outcomes. For instance, in November 2023, Royal Philips, a Dutch health technology company, launched the Philips HealthSuite Imaging. This specialized service offers a cloud-based picture archiving and communication system (PACS) to optimize radiology and imaging workflows, promoting high-speed remote access for diagnostic readings, integrated reports, and AI-powered workflow orchestration. Employing these advanced technologies, HealthSuite Imaging augments the interpretation and reporting of studies, increases operational efficiency, and enhances patient care.
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What Are the Major Categories and Their Growth Dynamics in the Remote Health Monitoring Market?
The remote health monitoring market covered in this report is segmented –
1) By Devices: Respiratory Monitoring, Blood Glucose Monitoring, Cardiac Monitoring, Multi-Parameter Monitoring
2) By Application: Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Management And Fitness Monitoring, Other Applications
3) By End-User: Home Care Settings, Hospitals Or Clinics, Other End-Users
Subsegments:
1) By Respiratory Monitoring: Spirometers, Pulse Oximeters, Capnometers, Respiratory Rate Monitors
2) By Blood Glucose Monitoring: Glucometers, Continuous Glucose Monitors (CGMs), Smart Insulin Pens
3) By Cardiac Monitoring: ECG Monitors, Holter Monitors, Implantable Cardiac Monitors, Blood Pressure Monitors
4) By Multi-Parameter Monitoring: Vital Sign Monitors, Telemetry Systems, Wearable Health Monitors
What Regions Are Driving Expansion in the Remote Health Monitoring Market?
North America was the largest region in the remote health monitoring market in 2024. The regions covered in the remote health monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does the Definition of the Remote Health Monitoring Market Include?
Remote health monitoring refers to the use of technology to monitor patients in non-clinical settings, such as the home. This healthcare delivery technique benefits patients, physicians, caregivers, and the healthcare system by leveraging technological improvements to collect patient data outside typical healthcare facilities.
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