DUBLIN--(BUSINESS WIRE )--The "Remote Patient Monitoring System Market Size, Share & Trends Analysis Report by Product (Vital Sign Monitors, Specialized Monitors), by End Use (Hospital Based Patients), by Application, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global remote patient monitoring system market size is expected to reach USD 6.7 billion by 2030. It is projected to register a CAGR of 20.2% from 2022 to 2030.
COVID-19 pandemic has a significant impact on the remote patient monitoring system. The main drivers for this market are the increasing geriatric population, cost-effective treatment, and the rising prevalence of chronic conditions.
The breakout of COVID-19 has propelled the demand for remote patient monitoring devices and services as healthcare facilities were burdened with COVID-19 infected patients. Key players like Smiths Medical reported that the demand of their home monitoring devices substantially increased during the pandemic.
The amalgamation of telehealth with remote patient monitoring services is expected to further boost market growth. Asia Pacific is also projected to be a key revenue generator in the coming years.
The region is backed by developing countries such as China, South Korea, and Thailand which are witnessing an increase in the number of chronic diseases owing to lifestyle changes.
Cardiovascular disease is among the leading cause of death in these countries. The remote patient monitoring system is expected to play a key role in the early detection and timely management of these diseases.
Remote Patient Monitoring System Market Report Highlights
Market Variables, Trends & Scope
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900