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Pulished Date April, 2021
ID: 631
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North America Remote Patient Monitoring Market Research Report - Segmented By Type, Application, End-Use & Country (United States, Canada and Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact and Growth Forecast (2021 to 2026)

Pulished: April, 2021
ID: 631
Pages: 145

North America Remote Patient Monitoring Market Size (2021 to 2026)

The size of the North American remote patient monitoring market is forecasted to be USD 2735.44 million by 2026 and USD 1459.33 million in 2021, growing at a CAGR of 13.39% during the forecast period.

The remote patient monitoring market in North America is expanding at a rapid rate, with factors such as rising chronic illness incidence due to lifestyle changes in the area and increased demand for home-based monitoring devices all contributing to this growth. These devices have grown in importance due to their shown capacity to effectively treat chronic illnesses, including cardiovascular disease, diabetes, cancer, and a variety of other acute conditions. The rising geriatric population and the growing need to expand healthcare access, the cost benefits of telehealth and remote patient monitoring, the benefits of RPM in reducing the burden on medical resources, advancements in telecommunications, rising chronic disease incidences, and increasing investments in telehealth and RPM are the major factors driving the growth of this market.

The increasing growth of healthcare infrastructure, the construction of post-acute care centers, and the strong demand in this region will provide international firms with new penetration opportunities. Wearable gadgets such as pulse monitoring bands, continuous glucose meters, and blood pressure monitors keep track of a patient's actions throughout the day and store the information in a connected smart device, which subsequently sends the information to the physician. Remote monitoring systems aid in treating chronic diseases, including early warning signals and performance monitoring, and are expected to see growing demand in the future years.

The North American market for remote patient monitoring devices is being hindered by resistance from healthcare professionals to patient monitoring systems. During the forecast period healthcare fraud, and informal social media practices are likely to restrict the market growth.

Physicians and patients are generally unfamiliar with new methods and are hesitant to abandon their current procedures. Because of their unfamiliarity with technology, older individuals may also refuse to use telehealth and telemedicine services. The remote patient monitoring market's growth may be hampered by a costly remote monitor that necessitates many software and hardware resources. All these are the challenges faced by the market.

This research report on the North America Remote Patient Monitoring market has been segmented and sub-segmented into the following categories:

By Type: 

  • Breath Monitors
  • Physical Activity Monitors
  • Heart Monitors
  • Hematological Monitors
  • Multi-Sign Monitors

By Application: 

  • Cancer Treatment
  • Cardiovascular Diseases
  • Diabetes Treatment
  • Sleep Disorder and Weight Management
  • Fitness Monitoring

By End-Use: 

  • Ambulatory Care Centers
  • Hospitals
  • Home Healthcare

By Country: 

  • United States
  • Canada
  • Rest of North America

Geographically, the USA is the largest market globally holds the highest number of shares, followed by Canada. The market contributors are involved in mergers and attainments and new product enhancement to preserve sustainability. Because of the increased frequency of chronic diseases, the need to decrease healthcare spending, and the growing elderly population, North America accounted for the highest market share in the remote patient monitoring (RPM) market. In the United States, the growing geriatric population is driving up the usage of patient monitoring equipment.

The increase in demand for remote patient monitoring devices from hospitals & clinics and home healthcare in the United States and the rising prevalence of cardiovascular disease in the United States and Mexico contribute to the market's growth. The growing need for home-based treatment where patients may monitor their own health has fueled the market for remote patient monitoring equipment in the United States. Chronic diseases account for 90% of all healthcare expenses in the United States each year. The regional rise can be attributed to an increase in the frequency of chronic illnesses, demand for wireless and portable systems, and the availability of sophisticated reimbursement structures aimed at reducing out-of-pocket expenditure. In the future, chronic health issues will generate considerable demand for RPM devices, and reimbursement is likely to continue to fuel future growth. The recent epidemic of COVID-19 has resulted in increased technical developments in remote monitoring, which has resulted in market expansion in this region.

KEY MARKET PLAYERS:

A few of the major participants operating in the North American remote patient monitoring market profiled in this report are Welch Allyn, Bosch, Johnson & Johnson, Intel, Roche, Philips Healthcare, Philips, Healthanywhere Inc., Honeywell, American Telecare, Biotronik, and Covidien Plc.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 New Developments                               

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 By Type                        

                                5.1.1 Breath Monitors   

                                5.1.2 Physical Activity Monitors 

                                5.1.3 Heart Monitors     

                                5.1.4 Haematological Monitors  

                                5.1.5 Multi-Sign Monitors            

                5.2 By Application                           

                                5.2.1 Cancer Treatment

                                5.2.2 Cardiovascular Diseases    

                                5.2.3 Diabetes Treatment            

                                5.2.4 Sleep Disorder       

                                5.2.5 Weight Management and Fitness Monitoring         

                5.3 By End-Use                 

                                5.3.1 Hospitals  

                                5.3.2 Ambulatory Care Centers 

                                5.3.3 Home Healthcare 

6. Geographical Analysis                                              

                                6.1 Introduction               

                                6.2 United States            

                                6.3 Canada         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 Welch Allyn                

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Strategic Evaluation and Operations            

                                8.1.4 Financial analysis  

                                8.1.5 Legal issues             

                                8.1.6 Recent Developments       

                                8.1.7 SWOT analysis       

                                8.1.8 Analyst View          

                8.2 Bosch                            

                8.3 Johnson & Johnson                 

                8.4 Intel                               

                8.5 Roche                           

                8.6 Philips Healthcare                    

                8.7 Philips                           

                8.8 Healthanywhere Inc                               

                8.9 Honeywell                  

                8.10 American Telecare                

                8.11 Biotronik                   

                8.12 Covidien Plc                             

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Expert Opinions                                        

                10.1 Market Outlook                     

                10.2 Investment Opportunities                 

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Regional, and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. North America Remote Patient Monitoring Market, By Region, From 2020 to 2025 (USD Million)
  2. North America Remote Patient Monitoring Market, By Type, From 2020 to 2025 (USD Million)
  3. North America Breath Monitors Market, By Region, From 2020 to 2025 (USD Million)
  4. North America Physical Activity Monitors Market, By Region, From 2020 to 2025 (USD Million)
  5. North America Heart Monitors Market, By Region, From 2020 to 2025 (USD Million)
  6. North America Haematological Monitors Market, By Region, From 2020 to 2025 (USD Million)
  7. North America Multi-Sign Monitors Market, By Region, From 2020 to 2025 (USD Million)
  8. North America Remote Patient Monitoring Market, By Application, From 2020 to 2025 (USD Million)
  9. North America Cancer Treatment Market, By Region, From 2020 to 2025 (USD Million)
  10. North America Cardiovascular Diseases Market, By Region, From 2020 to 2025 (USD Million)
  11. North America Diabetes Treatment Market, By Region, From 2020 to 2025 (USD Million)
  12. North America Sleep Disorder Market, By Region, From 2020 to 2025 (USD Million)
  13. North America Weight Management and Fitness Monitoring Market, By Region, From 2020 to 2025 (USD Million)
  14. North America Remote Patient Monitoring Market, By End-Use, From 2020 to 2025 (USD Million)
  15. North America Hospitals Market, By Region, From 2020 to 2025 (USD Million)
  16. North America Ambulatory Care Centers Market, By Region, From 2020 to 2025 (USD Million)
  17. North America Home Healthcare Market, By Region, From 2020 to 2025 (USD Million)
  18. United States Remote Patient Monitoring Market, By Type, From 2020 to 2025 (USD Million)
  19. United States Remote Patient Monitoring Market, By Application, From 2020 to 2025 (USD Million)
  20. United States Remote Patient Monitoring Market, By End-Use, From 2020 to 2025 (USD Million)
  21. Canada Remote Patient Monitoring Market, By Type, From 2020 to 2025 (USD Million)
  22. Canada Remote Patient Monitoring Market, By Application, From 2020 to 2025 (USD Million)
  23. Canada Remote Patient Monitoring Market, By End-Use, From 2021 to 2026 (USD Billion)

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