Remote Patient Monitoring (RPM), a technology used to collect patients medical and health information from health monitoring and diagnostic devices at one location and transfer it to the physician or doctor at another location. Remote patient monitoring (RPM) remotely monitors and analyzes physiological parameters such as heart rate, pulse rate, blood pressure, blood oxygen levels, blood sugar, vital signs. Due to which, it helps to reduce the patient hospitalization time and reduces hospital visits. This further improves patient's care and quality of life.

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According to our new market research study on “Remote Patient Monitoring Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, End User, and Geography,” the market is expected to reach US$ 188,952.22 million by 2028 from US$ 29,062.30 million in 2021. It is estimated to grow at a CAGR of 16.6% from 2021 to 2028. The key factors that are driving the growth of market are the growing prevalence of chronic diseases, rising awareness regarding healthcare, and surging demand for home-based treatments. However, security and privacy issues, and unaddressed regulatory concerns restrain the market growth.

It is anticipated that efficient remote healthcare may reduce the number of routine checkups before or after visiting a healthcare professional. Also, the patients would be permitted to leave the clinic or hospital earlier as the healthcare professionals will be enabled to monitor the patients from their home rather than admitting them in the hospital for further observation. For instance, in 2018, Britain’s National Health Service announced their Test Bed Programme, in which Type 1 or Type 2 diabetic patients were to be experimented with health technology allowing them to self-manage their conditions by staying at home. This helps in decreasing the additional costs required for staying in hospitals, thereby decreasing the overall medical expenditure of the individuals. Also, the improved internet connectivity and decreasing internet costs particularly in developing nations, are the major factors for the growth of the remote patient monitoring devices market.

The remote patient monitoring market majorly consists of the players such as Koninklijke Philips N.V., NIHON KOHDEN CORPORATION, Medtronic, General Electric, Cerner Corporation, Siemens Healthineers AG, Boston Scientific Corporation, Omron Healthcare, Abbott, and VitalConnect among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have adopted several inorganic and organic strategies to accelerate their growth and improve their market position.

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