February 2023
20 Sep 2024
The global remote health monitoring market is estimated to surpass around USD 22 billion by 2033 and poised to grow at a double-digit CAGR of 14.8% during the forecast period. Remote health monitoring helps manage chronic diseases by tracking the patient continuously, which helps to predict any early signs of diseases and health progress and detect the effect of treatment on the patient. Due to these reasons, the remote health monitoring market is growing rapidly.
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Remote health monitoring is a category of the telehealth market in which healthcare experts keep track of patients’ health outside their traditional setup, hospitals, or clinics. This helps the healthcare experts to understand patients’ progress and also in case of any changes required in the treatment. This is helpful for various reasons, such as preventing the growth of any chronic diseases, proper monitoring in the absence of healthcare experts, less healthcare expense, and improved patient treatment results.
Such remote health monitoring devices also help track patients’ heart rate, temperature, blood glucose levels, stress levels, and various other parameters. With the rising advancement in remote health monitoring devices, it is possible to check a lot more things at a time, which will ultimately be convenient for both patients and healthcare experts.
The growing number of patients and the requirement for detailed observation are driving the remote health monitoring market
The rising number of elderly people leads to a high number of patients who need to be kept under observation, and remote health monitors play a significant role at that point. People suffering from chronic diseases need continuous medical monitoring, which can cost too much for that condition. This is a cost-effective method that can help to understand the acceptance and progress due to the treatment and avoid any kind of serious issues in the future.
The implementation of technology can help people handle it on their own and also understand the reports, making it preferable. Research conducted by the Journal of American Medical Informatics Association (JAMIA) concluded that remote health monitoring enhances the patients’ cooperation in treating chronic conditions. This also encourages healthcare experts to recommend remote health monitoring devices and hence influence the growth of the remote health monitoring market. There is a huge investment in the advancement of remote health monitoring devices by the government and other manufacturing companies, which is also causing improvements in devices and increasing market demand.
There is a significant concern associated with the rise of technology as the wider use of such devices leads to a huge amount of data collection, and it has a chance of data breaching, which creates a hindrance in the growth of the remote health monitoring market. To resolve this concern, manufacturers of these devices need to provide some data safety measures that can assure users that their private information is in safe hands. Introducing a strict authentication process, strong regulatory methods and methods to maintain privacy can ensure that people use these remote health monitoring devices.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 6.35 Billion |
| Market Revenue by 2033 | USD 22 Billion |
| CAGR | 14.8% |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Recent Development by AstraZeneca plc
Recent Development by Star Health and Allied Insurance Company Limited
Asia Pacific region is expected to witness the fastest growth in the predicted period from 2024-2033. Japan, due to the increasing number of old aged population, is expected to generate the highest revenue in this market. Countries like India and China are also developing advanced technology devices that can help people be in less charge.
North America dominated the remote health monitoring market in 2023 due to the increasing number of cases of chronic kidney diseases. The demand for portable, easy-to-handle advanced technology remote health monitoring devices is rising with pocket-friendly prices; these factors together contribute to the growth of the market.
Europe, particularly Western European countries, are observed as contributing mostly to the growth of the market. This region is considered the second most revenue-generating remote health monitoring market. Growing accuracy in data while monitoring patients with chronic diseases is the most significant reason driving the market.
Growing uses of remote health monitoring devices are raising the market
Infectious diseases are considered risky as they can be harmful to both patients and healthcare experts. Such remote health monitoring devices hold a high potential to reduce the risk of spreading infectious diseases. It reduces the unwanted traveling of patients to the hospitals and also shows clear improvement in the patient which helps them to understand their recovery process. Keeping the required distance and continuous observation reduce the speed of infection. Awareness among people regarding the prevention of any chronic diseases and cost-effective factors also influences the use of remote health monitoring devices.
By Devices
By Application
By End-Users
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