Artificial Intelligence
Remote Patient Monitoring Market Size Worth USD 6.42 Billion by 2030 at 18.64% CAGR – Report by Market Research Future (MRFR)
New York, USA, Aug. 12, 2022 (GLOBE NEWSWIRE) — Remote Patient Monitoring Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Remote Patient Monitoring Market Information By Application, Type, End User, And Region – Forecast till 2030“, the market will touch USD 6.42 billion by 2030, an 18.64% CAGR during the forecast period 2022-2030.
Remote Patient Monitoring Market Synopsis
The technique of remotely monitoring and gathering physiological and other patient data using digital tools is known as remote patient monitoring (RPM). Patients that require chronic, post-discharge or geriatric care are typically helped by RPM. It can alert healthcare companies about potential health risks or keep track of patient information between visits by connecting high-risk patients with remote monitoring. Businesses that want to track workmen’s compensation cases may also use RPM to ensure that workers are on the right road to returning to work. Patients, particularly the elderly, those recovering from surgery, those suffering from chronic illnesses, and those with impairments, can obtain medical evaluations at home thanks to remote patient monitoring technology.
The enhanced chronic illness management provided by remote monitoring systems and early warning indications and progress trackers will increase demand for these systems globally in the upcoming years. Real-time patient data via remote patient monitoring has helped with the timely management of chronic obstructive pulmonary disease, cancer, and diabetes. By reducing the distance between the patient and the healthcare provider, the implementation or adoption of next-generation sensor technology has impacted healthcare systems.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 6.42 Billion |
| CAGR | 18.64% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing geriatric population and Growing investments in telehealth |
| Rising prevalence of chronic diseases |
Remote Patient Monitoring Market Competitive Landscape:
The stellar contenders in the remote patient monitoring market are:
- Koninklijke Philips N.V. (Netherlands)
- OMRON Healthcare (Japan)
- Boston Scientific Corporation (US)
- Abbott Laboratories (US)
- Medtronic plc (Ireland)
- GE Healthcare (US)
- Cerner Corporation (US)
- Siemens Healthineers AG
- Nihon Kohden Corporation (Japan)
- OSI Systems, Inc. (US)
Remote Patient Monitoring Market U.S.P. Covered:
Market Drivers:
The growing geriatric population is one of the main factors boosting the market’s demand. RPM technology can help seniors prevent chronic problems from worsening and ensure their rehabilitation continues long after they leave an acute care facility. RPM technology can also alert medical staff and take appropriate action when an elderly person is wounded or in danger. Recent developments in remote monitoring capabilities are anticipated to support market expansion during the forecast period. Some advancements include the integration of RPM into hospitals around the world, using Artificial Intelligence (AI) to enhance clinical decision making, and functional enhancements, including a decrease in false alarms. Commercial businesses are also attempting to incorporate RPM into their goods.
Incorporating IoT elements into medical equipment has made it possible to provide patients and the older population with chronic illnesses with better quality and more efficient care. Sensors, Bluetooth connectivity, actuators, and other communication tools have made it effortless for patients and caregivers to communicate data to the doctor via a cloud-based platform.
Remote Patient Monitoring Market Restraints:
The growth of the remote patient monitoring business is being constrained by the potential for data breaches and worries about data privacy. The patient’s information cannot be disclosed by medical professionals who have access to the remote patient monitoring data to anybody who is not directly involved in the patient’s care. Thus, it is crucial to maintain data confidentiality. Recent data breaches have eroded end users’ faith in the products. Despite the rising need for solutions, it is projected that the lack of device and software adoption in low- and middle-income nations will restrain market growth throughout the projection period. One aspect of the drop in usage in these nations is the high implementation cost of remote patient monitoring systems. The adoption of these solutions needs appropriate funding, providers, and IT staff to ensure a smooth transition and the provision of high-quality patient care.
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Remote Patient Monitoring Market COVID 19 Analysis
The call for remote patient monitoring services has been considerably impacted by COVID-19. This was because of measures taken during the pandemic to stop the virus’ transmission, such as lockdowns, social withdrawal, and travel restrictions. Consequently, this made it very challenging for patients to attend healthcare facilities and undergo an on-site medical evaluation. As a result, there was a sharp rise in the need for reliable remote patient monitoring systems to deal with the pandemic’s disruptions.
Additionally, it contributed to users becoming more aware of the benefits of remote patient monitoring. This has also prompted large investments in the industry, which are fueling market expansion. The COVID-19 pandemic has prompted the adoption of cutting-edge technological solutions that can assist with managing medications, tracking disease symptoms, and remote monitoring of vital signs. More health parameters can be examined as the next-generation patient monitoring solutions grow more comprehensive.
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Remote Patient Monitoring Market Segmentation
By Type
Device sales are mostly driven by new product introductions and rising innovation rates.
By Application
Cardiovascular problems frequently include the usage of RPM products and services.
By End User
Due to rising disease prevalence, per capita income, and healthcare awareness, the patient sector is anticipated to account for a sizeable portion of the market.
Remote Patient Monitoring Market Regional Insights
By region, North America’s remote patient monitoring market had the biggest share. The rising prevalence of chronic diseases is a significant factor in the rise in demand for RPM goods and services. RPM is most commonly used in heart problems because sedentary lifestyles are becoming increasingly popular. As a result, these elements assisted North America in securing the biggest market share. Due to good legislative conditions, sufficient healthcare infrastructure, and the quick uptake of the devices, Europe retained the second position in the market.
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Additionally, introducing these monitoring devices in the region facilitates greater adoption thanks to strategic alliances amongst the businesses to offer patients full-service remote patient monitoring. Due to the existence of unexplored potential in the rising markets of India and China, the Asia-Pacific market is anticipated to see the quickest CAGR over the forecast period. Japan’s large elderly population is predicted to be a major source of income.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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Artificial Intelligence
Clinical Trials Matching Software Market Projected to Reach $832.56 million by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 18, 2024 /PRNewswire/ — The report titled “Clinical Trials Matching Software Market by Functionality (Analytics & Reporting, Compliance Tracking, Data Management), Deployment (Cloud & Web Based, On-Premise), End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $342.20 million in 2023 to reach $832.56 million by 2030, at a CAGR of 13.54% over the forecast period.
“The Global Surge in Adoption of Matching Software for Enhanced Participant Enrollment”
Clinical trials matching software stands at the forefront of revolutionizing clinical research by automating the process of identifying and enrolling eligible participants. These platforms offer a streamlined approach to match patient health profiles with trial requirements, accelerating enrollment and supporting the shift toward personalized healthcare using these advanced AI and ML technologies. Although integrating these systems poses challenges due to variations in healthcare IT infrastructure and the imperative for rigorous data security, the potential for market growth is substantial. In the Americas, a robust clinical trials ecosystem thrives; in the European Union, it has unified regulatory standards and extended to emerging regions such as the Middle East, Africa, and the APAC countries; the demand for such innovative solutions is on a steep rise. This demand is fueled by governmental support, the evolving regulatory landscape, and strategic partnerships to embed these solutions within electronic health records, underscoring a global movement toward optimizing clinical trial processes to better cater to specific patient demographics.
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“The Rise of Virtual Trials and Advanced Matching Software”
The healthcare landscape is witnessing a transformative shift toward virtual clinical trials, fueled by technological advancements and the necessity for continuity during the COVID-19 pandemic. This transition supports research amid social distancing measures and introduces significant cost savings by reducing the need for physical infrastructure and in-person interactions. The efficiencies brought by electronic health records (EHR), wearable technologies, and automation streamline the entire process, from patient recruitment to data analysis. Several approaches, endorsed by regulatory bodies such as the FDA, represent a leap forward in making clinical trials more accessible and streamlined, ensuring that more patients can participate in potentially life-saving research without the geographical and logistic constraints of traditional trials.
“Enhancing Clinical Trials through Advanced Analytics, Rigorous Compliance, and Precision-Patient Matching”
Integrating advanced analytics, meticulous compliance monitoring, and precision-patient matching marks a significant advancement toward maximizing efficiency and fostering trial diversity. The software delivers insightful data on trial progress, participant demographics, and enrollment figures, empowering stakeholders to make well-informed decisions and optimize resource distribution to meet trial goals effectively by implementing cutting-edge analytics. The built-in compliance feature ensures trials are conducted in strict adherence to regulatory standards, minimizing risks associated with non-compliance. Furthermore, a robust data management system guarantees the integrity and availability of clinical trial data, which is critical for the seamless operation and real-time analysis of trials. The software includes state-of-the-art patient matching technology, which employs sophisticated algorithms and artificial intelligence to expedite recruitment by accurately identifying candidates who match specific trial requirements. This innovative approach accelerates the recruitment timeline and enhances the diversification of trial participants, paving the way for more inclusive and representative clinical research outcomes.
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“Medidata by Dassault Systèmes SE at the Forefront of Clinical Trials Matching Software Market with a Strong 11.30% Market Share”
The key players in the Clinical Trials Matching Software Market include International Business Machines Corporation, Science 37, Inc. by eMed, LLC, Medidata by Dassault Systèmes SE, AutoCruitment LLC, Deep 6 AI Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Clinical Trials Matching Software Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Clinical Trials Matching Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Clinical Trials Matching Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Clinical Trials Matching Software Market Landscape: Explore 190 Pages of Insights, 286 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsClinical Trials Matching Software Market, by FunctionalityClinical Trials Matching Software Market, by DeploymentClinical Trials Matching Software Market, by End-UseAmericas Clinical Trials Matching Software MarketAsia-Pacific Clinical Trials Matching Software MarketEurope, Middle East & Africa Clinical Trials Matching Software MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
Related Reports:
Clinical Trial Support Services Market – Global Forecast 2024-2030Virtual Clinical Trials Market – Global Forecast 2024-2030Clinical Trials Management System Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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