The Remote Patient Monitoring Market expected to reach USD 77.90 Billion by 2029
The global Remote Patient Monitoring (RPM) market is experiencing robust growth due to several key factors, such as the rising prevalence of chronic diseases, including diabetes, cardiovascular conditions, and respiratory disorders, coupled with an aging population, is driving demand for continuous health monitoring. Most patients are treated more for chronic diseases than other conditions, and a major portion of the healthcare expenditure goes toward treating and monitoring chronic diseases. Therefore, vital signs monitoring and remote patient monitoring devices will have a major impact on the future of the global healthcare market. Post-COVID-19 healthcare settings have invested in virtual care, online consultations, and home healthcare.
The adoption of Remote Patient Monitoring (RPM) technology has significantly increased, with devices now commonly used to monitor vital signs such as heart rate, blood pressure, and oxygen levels. The Centers for Medicare and Medicaid Services (CMS) introduced CPT codes for remote physiological monitoring. They expanded them in 2022 to include Remote Therapeutic Monitoring (RTM) for respiratory and musculoskeletal disorders, such as COPD and physical therapy. The pandemic accelerated RPM adoption, particularly by integrating IoT-enabled devices, which enhanced the technology's functionality and patient care. Combining AI with IoT (AIoT) further improved healthcare outcomes by enabling early detection of conditions like asymptomatic infections through advanced data analysis. As wireless data networks advance, the development of telehealth and remote monitoring platforms is expected to grow. There is also a rising demand for less invasive monitoring techniques, exemplified by products like Retia Medical's Argos monitor, which are user-friendly and compatible with existing systems. These technological advancements drive higher clinical demand and usage rates for patient monitors.
The adoption of Remote Patient Monitoring (RPM) technology has surged in recent years, with clinical devices increasingly being used to measure and monitor vital signs such as heart rate variability, blood pressure, and blood oxygen levels. The Centers for Medicare and Medicaid Services (CMS), which sets the standard of care for the U.S. healthcare system, introduced CPT codes for remote physiological monitoring over four years ago. In 2022, the CMS expanded its coverage by introducing CPT codes for Remote Therapeutic Monitoring (RTM), particularly for respiratory and musculoskeletal (MSK) disorders, including remote physical therapy and COPD inhaler tracking. Wireless data transmission network improvements are set to develop telehealth and remote monitoring platforms further. There is an increasing emphasis on non-invasive and less invasive monitoring techniques in various fields, such as fetal/neonatal and cardiac output monitoring. As patient monitors become more advanced and user-friendly, their usage rates are expected to rise, driving higher clinical demand. Virtual ICU care teams increasingly use RPM to integrate physiological parameters, such as vital signs and lab results, with electronic medical records (EMRs) to predict patient deterioration and guide treatment decisions.
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