North America Remote Patient Monitoring Market

North America Remote Patient Monitoring Market Size (2024 to 2032)

The remote patient monitoring market in the North American region is forecasted to be USD 5128 million by 2032 and USD 1876 million in 2024, growing at a CAGR of 13.39% during the forecast period.

The rising number of senior people across the region with chronic disease conditions is demanding patient monitoring, driving the growth of the remote patient monitoring market in North America. Older adults frequently require medical attention, which is expensive. Remote patient monitoring can be influential in minimizing medical expenditure. According to United States Bureau data, the number of Americans aged 65 years and above is projected to grow from 15% to 24% by 2060. Remote patient monitoring works effectively in monitoring and managing the conditions which are accelerating the market value in the North American region. Older people are highly prone to infectious diseases, which require patient monitoring devices. Nearly 20% of the population in the U.S. are above 60 years old. The rising aging population is one of the major factors increasing the need for remote patient monitoring, thus driving the market in North America. This remote patient monitoring for older people enables healthcare providers to monitor and manage patient health outside hospitals. Additionally, this technology helps older people to live in a comfortable place with peace of mind, not worrying about their health so much. This is also used for older people and patients with a disability who cannot move from one place to another without others support. These people feel secure using these remote monitoring devices to check their health regularly.

The remote patient monitoring service relieves the patient from staying at the hospitals and clinics. These can be used and operated from remote areas. Remote patient monitoring and telehealth to offer remote consultations drive market growth. Monitoring heart rate and oxygen levels by remote patient monitoring is gaining traction among the people, propelling the growth of the North American market growth. The usage of smartphones and wearable medical devices is growing significantly in North America, driving the remote patient monitoring market forward in this region. Nowadays, most people are wearing gadgets to know the body's blood pressure, steps, and glucose levels.

The increasing investments by manufacturers in R&D activities for better solutions in monitoring patients' health conditions are expected to provide opportunities for market expansion in the North American region. In case of epidemic and infectious diseases, these remote patient monitoring devices are beneficial with telemedicine to reduce the spread of disease. These are expected to be helpful in the future.

The scarcity of healthcare professionals favors the remote patient monitoring market. The attention of the healthcare professions has been given to assisting COVID-19 patients during the pandemic, which has grown the adoption of telehealth. The shortage of healthcare providers in the rural region makes use of remote patient monitoring by people suffering from any diseases or who want to predict their health condition due to some illness. In the United States, the usage of telehealth has grown significantly in recent times. As a result, most people are making appointments online and taking prescriptions for the minor health issues they face daily.

However, increasing healthcare fraud in telehealth and telemedicine is the primary factor restraining the market growth. In addition, some factors, such as having internet access and data security issues, are further challenging the market growth in North America. Increasing fraudulent activities by the telehealth sector are hampering the market growth by reducing the adoption of remote patient monitoring services. These activities include unauthorized access and data breaches to patient information. Most of the individuals are concerned regarding the safety of the personal data. Lack of awareness among many people in undeveloped areas is impeding market expansion in the North American region. Most people and healthcare professionals still believe traditional monitoring methods are practical and are unwilling to embrace the technological advancements that act as a challenging factor for market growth. Patients and some healthcare professionals must be aware that remote patient monitoring services hinder the region's market growth.

Impact of COVID-19 on the North American Remote Patient Monitoring Market

The pandemic positively impacted the market expansion of remote patient monitoring services. Remote patient monitoring services were beneficial during the pandemic due to increased COVID-19 cases. The patients are monitored with these services due to low medical staff situations. All the hospitals and clinics adopted remote patient monitoring services to provide service to patients without directly contacting them to reduce the spread of disease. 

This research report on the North American remote patient monitoring market has been segmented and sub-segmented into the following categories

North America Remote Patient Monitoring Market Analysis By Type 

• Breath Monitors
• Physical Activity Monitors
• Heart Monitors
• Hematological Monitors
• Multi-Sign Monitors

The breath monitors segment dominated the North American market in 2023, as dropping oxygen levels is the main symptom in most emergency cases. Difficulty breathing is the main symptom faced by the people during the COVID outbreak.

The heart monitors segment is another lucrative segment and is expected to have significant growth over the forecast period. Cardiovascular diseases are becoming prevalent across the region, demanding heart monitors to monitor the heart rate of the patients. It is estimated that approximately 735,000 Americans experience heart attacks every year out of 210,000 have already faced mild heart attacks.

North America Remote Patient Monitoring Market Analysis By Application 

• Cancer Treatment
• Cardiovascular Diseases
• Diabetes Treatment
• Sleep Disorder and Weight Management
• Fitness Monitoring

The diabetes treatment segment held the largest share of the remote patient monitoring market in the North American region in 2023. Diabetic people are easily prone to chronic diseases such as hypertension and cardiovascular diseases. They need frequent monitoring of blood glucose levels, heart rate, and blood pressure levels, making the diabetic segment hold the most significant share in the market growth.

The cardiovascular disease segment is gaining traction as many people are facing cardiovascular disorders irrespective of age. The diagnosed people need to monitor their heart rate and oxygen levels regularly to avoid the risk of heart attacks. The cardiovascular segment is expected to have rapid growth in the forecast period.

North America Remote Patient Monitoring Market Analysis By End-Use 

• Ambulatory Care Centers
• Hospitals
• Home Healthcare

The home healthcare segment dominated the market with a significant market share in 2023. Increasing homecare cases among chronic and after-surgery patients demand remote patient monitoring services, fuelling the segmental growth.

The ambulatory care centers segment has gained attention in recent years and is expected to grow steadily in the forecast periods due to services provided for emergency cases needing regular monitoring.

North America Remote Patient Monitoring Market Analysis By Country 

• United States
• Canada
• Rest of North America

Geographically, the North American region accounted for the most significant share of the global market in 2022 owing to the increasing healthcare expenditure, YOY growth in the population suffering from various diseases, and the presence of key market players. The increasing prevalence of chronic diseases is further fuelling the market growth in this region. 5 in 10 people in America suffer from one chronic disease. The mortality rate is increasing due to the increase of these chronic diseases.

The U.S. dominated the North American region in 2023. Growing advancements in product development related to patient monitoring, increasing investments by the U.S. government, and increasing healthcare programs to adopt remote patient monitoring are a few of the factors propelling the remote patient monitoring market in the U.S. In addition, remote patient monitoring has integrated with advanced technological developments, such as sensors and artificial intelligence, to improve the devices for patient use. The US dominated the North American Remote Patient Monitoring market in 2023 due to increasing healthcare system advancements and rising healthcare expenditure. The rising prevalence of infectious diseases and the recent pandemic are increasing the adoption of remote patient monitoring services. Increasing government initiatives to develop the healthcare system across developed countries such as the U.S., Canada, and Mexico are boosting the regional market growth. The pandemic influenced many people to adopt remote monitoring services to understand emergencies. The increasing R&D activities incorporating remote patient monitoring services with artificial intelligence and sensors are enhancing the market value.

The Canadian market is anticipated to grow at a healthy CAGR during the forecast period. Health Canada empowers all people to have a healthy life without affecting any diseases by using remote patient monitoring devices. As a result, most people show interest in having personalized interaction with the healthcare provider to track their daily health for better treatment. Canada's market is expected to grow steadily over the forecast period due to the increasing number of older adults with cardiovascular diseases in the region.

KEY MARKET PLAYERS

A few of the major participants operating in the North American remote patient monitoring market profiled in this report are Welch Allyn, Bosch, Johnson & Johnson, Intel, Roche, Philips Healthcare, Philips, Healthanywhere Inc., Honeywell, American Telecare, Biotronik, and Covidien PLC.