North America Remote Patient Monitoring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Software, Devices, and Services) and End User (Providers, Payers, Patients, and Others)
Market Introduction
North America is largest market for remote patient monitoring with the US holding the largest market share followed by Canada. U.S. is the largest market for the remote patient monitoring. The growth of market is due to the factors such as increase in the demand of remote patient monitoring devices from hospitals & clinics, rise prevalence in the cardiovascular disease, and home healthcare in the US and the rise in the geriatric population in U.S. In addition, the country is far ahead from the other developed and developing countries in terms of technology. The advancement in the technology has forced to develop various remote patient monitoring devices and technologies that are used for its applications However, the veterans in healthcare industry are reluctant to the adoption of remote patient monitoring systems which is restraining the remote patient monitoring devices market. The companies in the region are growing due to the adoption of the strategic steps such as agreements, collaboration, product launches and many more. For instance, in Jan 2019, NewYork-Presbyterian Hospital and Philips team up for remote patient monitoring. NewYork-Presbyterian Hospital has planned to expand its virtual care capabilities with remote monitoring services from Philips. The doctors at Weill Cornell Medicine will utilize the Philips eCareCoordinator and eCareCompanion solutions under hospital affiliation. The use of remote patient monitoring devices can help to cut the chronic disease treatment cost and duration. For instance, coronary artery disease is among the leading cause of the morbidity and mortality in the well matured countries. As per the Center of Disease Control report, one out of four deaths are attributed to coronary artery disease. The coronary artery diseases cost human, productivity, more than US$ 100 billion per year in US. In addition, the recently published report by the American Heart Association in 2018 states that one of every three deaths are caused due to cardiovascular diseases. Approximately 2,300 Americans die of cardiovascular disease per year and an average of one death is recorded in every 38 seconds.
North America has experienced a rising number of cases of COVID-19 since its outbreak. The clinical and product development engine has experienced profound disruption as colleagues adjust to remote work environments and lab capacity is reduced. Clinical trials are also severely affected by disruptions in both new enrollment and in keeping existing patients on therapies. The impact of COVID-19 has placed many biomedical sensors companies under pressure. However, it also has had a positive impact on the medical device industry, wherein the demand for R&D activity is increasing, leading to a rise in medical device assistance for the detection of COVID-19. For instance, the researchers of the University Of Illinois Grainger College Of Engineering developed an ultrasensitive test using a paper-based electrochemical sensor that can detect the presence of the coronavirus in five minutes. Furthermore, the Government of Canada is invested $25.8M in COVID-19 research to contribute to the global efforts for research on medical countermeasures against COVID-19. For instance, a research project on “Rapid, Ultrasensitive Clinical Detection of 2019 Novel Coronavirus (nCOVID-19) by Novel Microfluidic Electrochemical Nano-Biosensors” was funded US$ 0.79 million. The Government of Canada provided the funding ($26.8M) for the first wave of COVID-19 research projects through the CIHR, the Natural Sciences and Engineering Research Council of Canada (NSERC), the Social Sciences and Humanities Research Council (SSHRC), the International Development Research Centre (IDRC), the Canada Research Coordinating Committee (CRCC) through the New Frontiers in Research Fund (NFRF), and Genome Canada (GC). Thus, increasing funding by the government in research and development activities anticipated the growth of the remote patient monitoring market.
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Market Overview and Dynamics
The remote patient monitoring market in North America is expected to grow from US$ 11,540.64 million in 2021 to US$ 76,657.92 million by 2028; it is estimated to grow at a CAGR of 31.1% from 2021 to 2028. Various developing and under-developed countries still do not have access to healthcare facilities. The patients from these places must travel a long way to get their routine checkups done from healthcare professionals. Remote patient monitoring and IoT enabled healthcare devices can help these patients to communicate as well as get diagnosed and monitored with the healthcare professionals from their homes, thus saving the time and cost involved in travelling. The expansion of IoT and connected healthcare services in such locations can be a prospective taken into consideration by the major companies operating in the remote patient monitoring devices in healthcare market.
Key Market Segments
In terms of type, the devices segment accounted for the largest share of the North America remote patient monitoring market in 2021. In term of end user, provider segment held a larger market share of the remote patient monitoring market in 2021.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the remote patient monitoring market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
Reasons to buy report
- To understand the North America remote patient monitoring market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America remote patient monitoring market
- Efficiently plan M&A and partnership deals in North America remote patient monitoring market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America remote patient monitoring market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Remote Patient Monitoring Market Segmentation
North America Remote Patient Monitoring Market – By Type
- Software
- Cloud
- On-Premise
- Devices
- Cardiac Monitoring Devices
- Neurological Monitoring Devices
- Respiratory Monitoring Devices
- Multiparameter Monitoring Devices
- Blood Glucose Monitoring Devices
- Fetal and Neonatal Monitoring Devices
- Weight Monitoring Devices
- Other Monitoring Devices
- Services
North America Remote Patient Monitoring Market – By End User
- Providers
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
- Others
- Payers
- Patients
- Others
North America Remote patient monitoring market – By Country
- US
- Canada
- Mexico
North America Remote patient monitoring market – Companies Mentioned
- Medtronic
- Koninklijke Philips N.V.
- Boston Scientific Corporation
- Abbott
- OMRON Corporation
- Siemens Healthineers AG
- Nihon Kohden Corporation
- General Electric Company
- VitalConnect
- Cerner Corporation
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Remote Patient Monitoring Market – By Type
1.3.2 North America Remote Patient Monitoring Market – By End User
1.3.3 North America Remote Patient Monitoring Market – By Country
2. North America Remote Patient Monitoring Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Remote Patient Monitoring Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Expert Opinions
5. North America Remote Patient Monitoring Market – Key Market Dynamics
5.1 Drivers
5.1.1 Up-scaling Prevalence of Chronic Diseases
5.1.2 Surging Awareness Regarding Healthcare
5.1.3 Boosting Demand for Home-Based Treatments
5.2 Restraints
5.2.1 Security and Privacy Concerns
5.2.2 Unaddressed Regulatory Problems
5.3 Opportunity
5.3.1 Extension of Healthcare Facilities in Remote Locations
5.4 Future Trend
5.4.1 Growing Monitoring to Replace Patients’ Routine Visits
5.5 Impact Analysis
6. North America Remote Patient Monitoring – Market Analysis
6.1 North America Remote Patient Monitoring Market Revenue Forecast and Analysis
7. North America Remote Patient Monitoring Market Analysis – By Type
7.1 Overview
7.2 Remote Patient Monitoring Market Revenue Share, by Type (2021 and 2028)
7.3 Software
7.3.1 Overview
7.3.2 Software: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.3.2.1 Cloud Software
7.3.2.1.1 Overview
7.3.2.1.2 Cloud Software: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.3.2.2 On-Premise Software
7.3.2.2.1 Overview
7.3.2.2.2 On-Premise Software: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4 Devices
7.4.1 Overview
7.4.2 Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.1 Cardiac Monitoring Devices
7.4.2.1.1 Overview
7.4.2.1.2 Cardiac Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.2 Neurological Monitoring Devices
7.4.2.2.1 Overview
7.4.2.2.2 Neurological Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.3 Respiratory Monitoring Devices
7.4.2.3.1 Overview
7.4.2.3.2 Respiratory Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.4 Multiparameter Monitoring Devices
7.4.2.4.1 Overview
7.4.2.4.2 Multiparameter Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.5 Blood Glucose Monitoring Devices
7.4.2.5.1 Overview
7.4.2.5.2 Blood Glucose Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.6 Fetal and Neonatal Monitoring Devices
7.4.2.6.1 Overview
7.4.2.6.2 Fetal and Neonatal Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.7 Weight Monitoring Devices
7.4.2.7.1 Overview
7.4.2.7.2 Weight Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.4.2.8 Other Monitoring Devices
7.4.2.8.1 Overview
7.4.2.8.2 Other Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
8. North America Remote Patient Monitoring Market – By End User
8.1 Overview
8.2 North America Remote Patient Monitoring Market, by End User (2021 and 2028) (%)
8.3 Providers
8.3.1 Overview
8.3.2 Providers: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.3.2.1 Hospitals
8.3.2.1.1 Overview
8.3.2.1.2 Hospitals: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.3.2.2 Home Care Settings
8.3.2.2.1 Overview
8.3.2.2.2 Home Care Settings Market: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.3.2.3 Ambulatory Care Centers
8.3.2.3.1 Overview
8.3.2.3.2 Ambulatory Care Centers: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.3.2.4 Others
8.3.2.4.1 Overview
8.3.2.4.2 Others: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Payers
8.4.1 Overview
8.4.2 Payers: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Patients
8.5.1 Overview
8.5.2 Patients: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Remote Patient Monitoring Market – Country Analysis
9.1 Overview
9.1.1 North America Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Country (%)
9.1.1.1 US
9.1.1.1.1 US Remote Patient Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.2 US Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Type (US$ Million)
9.1.1.1.2.1 US Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Software (US$ Million)
9.1.1.1.2.2 US Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Devices (US$ Million)
9.1.1.1.3 US Remote Patient Monitoring Market, Revenue and Forecast to 2028, By End User (US$ Million)
9.1.1.1.3.1 US Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Provider (US$ Million)
9.1.1.2 Canada
9.1.1.2.1 Canada Remote Patient Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.2 Canada Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Type (US$ Million)
9.1.1.2.2.1 Canada Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Software (US$ Million)
9.1.1.2.2.2 Canada Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Devices (US$ Million)
9.1.1.2.3 Canada Remote Patient Monitoring Market, Revenue and Forecast to 2028, By End User (US$ Million)
9.1.1.2.3.1 Canada Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Provider (US$ Million)
9.1.1.3 Mexico
9.1.1.3.1 Mexico Remote Patient Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.2 Mexico Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Type (US$ Million)
9.1.1.3.2.1 Mexico Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Software (US$ Million)
9.1.1.3.2.2 Mexico Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Devices (US$ Million)
9.1.1.3.3 Mexico Remote Patient Monitoring Market, Revenue and Forecast to 2028, By End User (US$ Million)
9.1.1.3.3.1 Mexico Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Provider (US$ Million)
10. Impact of COVID-19 Pandemic on North America Remote Patient Monitoring Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. North America Remote Patient Monitoring Market– Industry Landscape
11.1 Overview
11.2 Organic Developments
11.2.1 Overview
11.3 Inorganic Developments
11.3.1 Overview
12. Company Profiles
12.1 Medtronic
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Koninklijke Philips N.V.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Cerner Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Boston Scientific Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Abbott
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 OMRON Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Siemens Healthineers AG
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Nihon Kohden Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 VitalConnect
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 General Electric Company
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. US Remote Patient Monitoring Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 2. US Remote Patient Monitoring Market, by Software – Revenue and Forecast to 2028 (USD Million)
Table 3. US Remote Patient Monitoring Market, by Devices – Revenue and Forecast to 2028 (USD Million)
Table 4. US Remote Patient Monitoring Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. US Remote Patient Monitoring Market, by Providers – Revenue and Forecast to 2028 (USD Million)
Table 6. Canada Remote Patient Monitoring Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 7. Canada Remote Patient Monitoring Market, by Software – Revenue and Forecast to 2028 (USD Million)
Table 8. Canada Remote Patient Monitoring Market, by Devices – Revenue and Forecast to 2028 (USD Million)
Table 9. Canada Remote Patient Monitoring Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 10. Canada Remote Patient Monitoring Market, by Providers – Revenue and Forecast to 2028 (USD Million)
Table 11. Mexico Remote Patient Monitoring Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 12. Mexico Remote Patient Monitoring Market, by Software – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico Remote Patient Monitoring Market, by Devices – Revenue and Forecast to 2028 (USD Million)
Table 14. Mexico Remote Patient Monitoring Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 15. Mexico Remote Patient Monitoring Market, by Providers – Revenue and Forecast to 2028 (USD Million)
Table 16. Organic Developments Done By Companies
Table 17. Inorganic Developments Done By Companies
Table 18. Glossary of Terms, Remote Patient Monitoring Market
LIST OF FIGURES
Figure 1. North America Remote Patient Monitoring Market Segmentation
Figure 2. North America Remote Patient Monitoring Market Segmentation, By Country
Figure 3. North America Remote Patient Monitoring Market Overview
Figure 4. Devices Segment Held Largest Share of Remote Patient Monitoring Market, By Type
Figure 5. The US to Show Significant Growth During Forecast Period
Figure 6. North America Remote Patient Monitoring Market, Industry Landscape
Figure 7. North America PEST Analysis
Figure 8. North America Remote Patient Monitoring Market Impact Analysis of Driver and Restraints
Figure 9. North America Remote Patient Monitoring Market – Revenue Forecast and Analysis – 2021 - 2028
Figure 10. Remote Patient Monitoring Market Revenue Share, by Type (2021 and 2028)
Figure 11. Software: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 12. Cloud Software: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 13. On-Premise Software: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 14. Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 15. Cardiac Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 16. Neurological Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 17. Respiratory Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 18. Multiparameter Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 19. Blood Glucose Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 20. Fetal and Neonatal Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 21. Weight Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 22. Other Monitoring Devices: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 23. Services: Remote Patient Monitoring Market– Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America Remote Patient Monitoring Market, by End User (2021 and 2028) (%)
Figure 25. Providers: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Hospitals: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Home Care Settings Market: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Ambulatory Care Centers: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Others: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Payers: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Patients: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Others: Remote Patient Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. North America Remote Patient Monitoring geographic overview, By Country — 2021 (US$ Million)
Figure 34. North America Remote Patient Monitoring Market, Revenue and Forecast to 2028, By Country (%)
Figure 35. US Remote Patient Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 36. Canada Remote Patient Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 37. Mexico Remote Patient Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 38. Impact of COVID-19 Pandemic in North American Country Markets
- Medtronic
- Koninklijke Philips N.V.
- Boston Scientific Corporation
- Abbott
- OMRON Corporation
- Siemens Healthineers AG
- Nihon Kohden Corporation
- General Electric Company
- VitalConnect
- Cerner Corporation
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