Is remote patient monitoring worth it?

The remote patient monitoring market is expected to grow from $2.1 billion in 2019 to $10.8 billion by 2024, at a CAGR of 36.4% during the forecast period (MarketsandMarkets, 2019). hospitals and clinics are deploying remote patient monitoring (RPM) solutions to gain real-time insights into the health of their patients and improve the quality of care.

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Category: Remote Patient Monitoring

The remote patient monitoring market is expected to grow from $2.1 billion in 2019 to $10.8 billion by 2024, at a CAGR of 36.4% during the forecast period (MarketsandMarkets, 2019). hospitals and clinics are deploying remote patient monitoring (RPM) solutions to gain real-time insights into the health of their patients and improve the quality of care. The growing demand for connected health devices and mobile health applications is driving the adoption of RPM solutions. Moreover, the increasing number of chronic diseases and the rising aging population are propelling the growth of this market. However, data security and privacy concerns are restraining the growth of this market. Hospitals and clinics have been using remote patient monitoring solutions to collect data from patients remotely and reduce readmission rates. RPM solutions help in the early detection and management of chronic diseases, such as heart failure, diabetes, and respiratory diseases. These solutions also help in reducing hospital stays, which reduces treatment costs. In addition, these solutions enable real-time monitoring of vital signs and symptoms, which helps clinicians make timely interventions and improve patient outcomes. The deployment of remote patient monitoring solutions is helping healthcare organizations move toward value-based care. RPM is a promising technology.

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