Market Research

A quick overview of the remote patient monitoring (RPM) market (2020-2025)

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Digital technologies have come to make contributions to collect health data of patients so that it is easy to obtain information at the patient’s place of residence. Remote monitoring of the patient’s condition greatly reduces the staggering costs of hospitalization. The market for remote patient monitoring has been growing in recent years due to the prevalence of chronic diseases, increasing elderly population, technological advances and the availability of advanced tools, and it is expected to grow significantly with increasing awareness of this market’s value.

Market / Industry segment of remote patient monitoring market

Base YearMarket size(B$)Duration(YEAR)CAGR(%)Source Name
20200.931612.70%Adroit market research
201715.87612%Research and market
20194.046513.70%Market data forcast
20150.703717.00%Allied market research
20200.931612.70%Yahoo Finance

Influencing factors that changes market size of the remote patient monitoring

The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of remote patient monitoring.

Direct drivers:

  1. Prevalence of chronic diseases
  2. Technology advancement
  3. Acceptance of technology by the treatment staff
  4. Increase of surplus income

Reverse drivers:

  1. High costs of equipment repair and maintenance
  2. Cyber attacks
  3. Lack of specialized personnel
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The market of the remote patient monitoring may also be threatened by following risks:

In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of patient remote monitoring may also be threatened by the following risks:

  1. Manufacturing risk
  2. Technology risk
  3. Funding risk
  4. Sales and marketing risk

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