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 is a healthcare delivery system that allows healthcare providers to remotely monitor a patient's health status and medical condition using digital technologies. This is achieved through the use of remote monitoring devices and software that collect and transmit patient data to healthcare providers for analysis. The software used in remote patient monitoring provides real-time data on vital information, medication use, and other health metrics, allowing healthcare providers to make informed decisions about patient care. The advantages of remote patient monitoring include improved patient outcomes, decreased hospital readmissions, and increased patient engagement in their own health.
The specialised telemedicine software serves as a link between the carer and the patient by offering a framework for conversation that enables remote and ongoing patient tracking. The market for remote patient monitoring devices has undergone a significant shift as a result of COVID-19 pandemic. This change has improved recovery rates by encouraging more users to sign up for the programme. Along with increasing access and payments, it has also increased the willingness of providers to use the programme. About 100 million Americans, according to the Centers for Disease Control and Prevention, suffer from hypertension. The chance of cardiac disease is further increased by hypertension. During the COVID-19 pandemic, remote patient monitoring was heavily employed, enabling virtual treatment in other disciplines like psychiatry and cardiology. The COVID-19 pandemic and a rise in at-home care are two reasons that are expected to cause the Remote Patient Monitoring business to double in the near future. It has been demonstrated that remote patient monitoring enhances patient compliance, enhances medical administration, and lowers healthcare expenses.
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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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