Report Overview

During the projected period, the market for patient monitoring systems in the United States is anticipated to expand significantly. The population of elderly people is growing, and remote patient monitoring systems are becoming more widely used. The market for patient monitoring devices is expanding as chronic illnesses including COPD, diabetes, cancer, and atherosclerosis become more common. Additionally, it is anticipated that partnerships between businesses, hospitals, and academic institutions would result in the release of new products, helping to raise market revenue and, therefore, the expansion of the United States patient monitoring systems market.

United States Remote Patient Monitoring Market – Industry Trends & Forecast Report 2028 

United States remote patient monitoring market was worth USD 13.48 billion in 2021 and is further projected to reach USD 21.36 billion by the year 2028, exhibiting a CAGR of 6.9% during 2022-2028 (forecast period). Digital technologies are used for remote patient monitoring, also known as remote physiologic monitoring, to track and collect medical and other health data from patients. This data is then electronically transmitted to healthcare professionals for review, and, if necessary, recommendations and instructions. Additionally, RPM can help decrease the frequency of hospital stays, readmissions, and length of hospital stays, all of which improve quality of life while lowering costs. The United States remote patient monitoring market is expected rise as a result of rising telemedicine use, an increase in the prevalence of chronic illnesses, and a paradigm shift toward home healthcare.

United States Remote Patient Monitoring Market – Overview

The purpose of patient monitoring is to provide alerts for impending or potentially hazardous health deterioration. Blood oxygen saturation levels (SPO2), heart rate, blood pressure, and temperature are just a few of the biometric variables that are measured, recorded, distributed, and displayed by patient monitoring systems. They assist to prevent major issues by routinely monitoring patients. As a result, there are fewer trips to the emergency room and shorter hospital stays. These gadgets can be used to remotely monitor patients' physiological characteristics thanks to advances in wireless technology.

United States Remote Patient Monitoring Market Forecast and Trends

Growth Drivers 

Technology Innovations in Wearable Medical Devices are Increasing

By delivering more data to medical practitioners, wearable health gadgets are helping individuals monitor their health conditions better on both a personal and professional level, perhaps enabling earlier diagnosis and treatment support. The creation of more trustworthy and adaptable wearables is made possible by the electronic equipment being smaller, which helps the health monitoring approach. Wearables have the benefit of being able to be created as smart devices that can provide digital health data and provide telemedicine, similar to implanted devices. Patients and physicians may more easily monitor vital signs, physiological and biochemical markers, such as glucose levels and physical activity, due to wearable technology.

Additionally, wearable medication delivery devices offer a consistent way to give pharmacological therapy without the requirement for trained personnel. These capabilities increase the precision of patient testing and treatments, enhancing patient satisfaction while reducing healthcare costs. These factors help explain why remote patient monitoring systems are becoming more and more popular.

Restraint

Rising Concerns Related to the Use of Invasive Monitoring Systems

The use of invasive monitoring systems has a number of dangers, including the inconvenience of inserting monitoring devices such pulmonary artery catheters (PACs). Other significant concerns include thrombosis, air embolism, infection, bleeding/hematoma development, cardiac arrhythmias, decreased circulation to the distal limb, hemorrhage, nerve injury (during insertion), and pulmonary capillary necrosis. The mortality rate during invasive operations rises as a result of these circumstances. As a result, the hazards stated above restrict the use of intrusive monitoring equipment. The United States patient monitoring systems market's expansion, however, is probably going to be constrained by concerns about data privacy and security. The market for patient monitoring systems in the United States is also constrained by government rules and problems with payment.

Impact of COVID-19 on the United States Remote Patient Monitoring Market

Although most markets are seeing a decline, the COVID-19 epidemic has had a favorable impact for a number of healthcare-related sectors, including patient monitoring systems. The market for patient monitoring systems is expanding really quickly right now. They are essential in the fight against pandemics and in patient monitoring. Due to its extensive usage in patient treatment and IoT technologies, patient monitoring systems, such as heart monitors, respiration devices, and temperature monitoring devices, are in high demand. Additionally, IoT has a variety of applications in patient monitoring that have proved helpful throughout the crisis, especially when integrated with other transformational technologies like Cloud and Artificial intelligence (AI).

United States Remote Patient Monitoring Market – By Component

Based on components, the market is divided into devices and services. The devices segment accounts for the largest share than that of the services segment in the United States remote patient monitoring market. According to the type of devices, the patient monitoring devices market is segmented into several subcategories, including hemodynamic monitoring, neuromonitoring, cardiac monitoring, fetal & neonatal monitoring, respiratory monitoring, multiparameter monitoring, weight monitoring, temperature monitoring, urine output monitoring, and other patient monitoring equipment. The increasing in the use of wearable medical devices, technological advancements in IoT, the rise in the adoption of home healthcare systems are expected to boost the device segment in the remote patient monitoring market.

United States Remote Patient Monitoring Market– By Application

Based on application, the market is divided into cardiovascular diseases, diabetes, cancer, hypertension, infections, and others, wherein cardiovascular diseases segment accounted for largest share in 2021. According to the Centers for Disease Control and Prevention CDC, 1 in every 4 deaths in the United States are caused by cardiac illnesses, accounting for 659,000 deaths per year in 2020. RPM is becoming more common in cardiology, according to statistics from the Centers for Disease Control and Prevention (CDC). In the United States, about one in two people have high blood pressure, and the majority of these individuals do not have their hypertension under control.

United States Remote Patient Monitoring Market– By End User Type

On the basis of end user, the market has been segmented into hospitals & specialty clinics, homecare settings, ambulatory surgical centers, long term & acute care centers, and others. In terms of end user, hospitals and specialized clinics segment held the largest share in 2021, and it is predicted that the homecare sector is expected experience the fastest rate of growth among end-users. Some medical facilities choose remote patient monitoring systems due to the rising demand for hospital beds and the difficulty of providing treatment when there are staffing shortages.

Furthermore, technological developments have made it possible to remotely monitor patients whether they are at home or in nursing homes. Health systems may now employ at-home continuous pulse oximeters to monitor patients and prevent hospitalizations with the use of wireless monitors, cloud-based platforms, and telemedicine. The market growth for the sector of homecare settings is anticipated to be greatly boosted by all of these factors.

Competitive Landscape

Key players operating in the United States remote patient monitoring market are Medtronic plc, Koninklijke Philips N.V., ResMed Inc., 100plus, A&D Company, Abbott, AltumView Systems, BIOTRONIK, Boston Scientific, Bardy Diagnostics, Cardiomo Care, Cardiologs, Drägerwerk AG & Co. KGaA, F. Hoffmann-La Roche AG, GE Healthcare, Grand Care Systems, Honeywell International, iHealth Unified Care, Qardio, Inc., MedM, and other prominent players.

The United States patient monitoring systems market is highly competitive and prominent players have adopted various strategies to garner maximum United States patient monitoring systems market share. These include collaboration, product launch, partnership, and acquisition.

Recent Development

• In December 2021, Smart Meter, the leader in cellular-enabled remote patient monitoring (RPM) data and devices, announced a partnership with A&D Medical, to develop and deliver top-quality RPM devices that use advanced cellular-enabled technology best to connect patients, caregivers, and healthcare providers.

Scope of Report:

By Components

• Devices
  • Hemodynamic Monitoring
  • Neuromonitoring
  • Cardiac Monitoring
  • Fetal & Neonatal Monitoring
  • Respiratory Monitoring
  • Multiparameter Monitoring
  • Weight Monitoring
  • Temperature Monitoring
  • Urine Output Monitoring
  • Others
• Services
  • Consulting
  • System Integration and Deployment
  • Support and Maintenance

By Application

• Cardiovascular Diseases
• Diabetes
• Cancer
• Hypertension
• Infections
• Others

By End-User

• Hospitals & Specialty Clinics
• Homecare Settings
• Ambulatory Surgical Centers
• Long Term & Acute Care Centers
• Other End User