Remote Health Monitoring Global Market Is Expected To Grow At A Rate Of 15% Through 2023 – 2027
6 Jun, 2023
The global remote health monitoring market size is expected to grow from $4.15 billion in 2022 to $4.84 billion in 2023 at a compound annual growth rate (CAGR) of 16.65%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global remote health monitoring market size is expected to reach $.49 billion in 2027 at a CAGR of 15.1%.
Global Remote Health Monitoring Market Key Driver
The growing worldwide elderly population will contribute significantly to the future growth of the remote health monitoring industry. The elderly are those aged 65 and up. Remote health monitoring is used to remotely monitor the health of elderly persons in order to avoid spotting relapses in diseases and thus enabling early intervention by watching a person's physiological data. For instance, in October 2022, according to data published by the world health organization (WHO), a Switzerland-based international intergovernmental organization focused on international public health, the global population aged over 60 is projected to double from 1 billion in 2020 to 2.1 billion in 2050. The number of people aged 80 and more is predicted to treble between 2020 and 2050, reaching 426 million. Therefore, the rising global old age population will drive the remote health monitoring market.
Get a sample of the global remote health monitoring market reportGlobal Remote Health Monitoring Market Segments
The global remote health monitoring market is segmented:
1) By Devices: Respiratory monitoring, Blood glucose monitoring, Cardiac monitoring, Multi-parameter monitoring
2) By Application: Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Management and Fitness Monitoring, Other Applications
3) By End-User: Home Care Settings, Hospitals/Clinics, Other End-Users
4) By Geography: The regions covered in the remote health monitoring market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global remote health monitoring market.
Major Remote Health Monitoring Industry Players
Nihon Kohden Corporation, Koninklijke Philips N.V., Omron Corporation, F. Hoffmann-La Roche Ltd, American Telecare, Welch Ally, Boston Scientific Corporation, GE Healthcare, Masimo, Vitls Inc, Abbott, Biotronik, LifeWatch, Athelas, Capterra
Get the full global remote health monitoring market reportRemote Health Monitoring Market Overview
Remote health monitoring refers to the use of technology to monitor patients in non-clinical settings, such as the home. This healthcare delivery technique benefits patients, physicians, caregivers, and the healthcare system by leveraging technological improvements to collect patient data outside typical healthcare facilities.
Remote Health Monitoring Global Market Report 2023 provides data on the global remote health monitoring market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The remote health monitoring market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.