Table of Contents
Remote Patient Monitoring Market Overview
Remote Patient Monitoring (RPM) companies use technology to track health data outside traditional clinical settings. Essential for managing chronic illnesses, post-operative care, and elderly care.
Key components include wearable devices, medical tools, mobile data-sharing apps, and health trend analytics.
RPM enhances patient care by enabling timely interventions, improving accessibility, reducing costs, and empowering patients.
Nevertheless, it faces challenges like data privacy, technology adoption, system integration, and regulatory issues.
Further, future developments are expected in AI integration, growing wearable technology, improved telehealth services, and a stronger focus on preventive care.
Market Drivers
The global Remote Patient Monitoring (RPM) market rapidly expanding due to various factors. The growing prevalence of chronic diseases necessitates continuous health monitoring for timely interventions.
Advancements in wearable technology and mobile health applications enhance data collection and patient engagement.
Additionally, an aging population increases the demand for effective home care solutions. RPM helps reduce hospital admissions, yielding cost savings through proactive management.
Moreover, supportive regulations and improved reimbursement policies encourage provider adoption, while heightened consumer awareness of personal medical devices bolsters market growth.
Market Size
The Global Remote Patient Monitoring Market is projected to increase from USD 6.7 billion in 2022 to USD 78.4 billion by 2032, with a CAGR of 28.7%.
List of Major Companies
These are the top 10 companies operating in the Remote Patient Monitoring Market:
Siemens
Company Overview
| Establishment Year | 1847 |
| Headquarter | Munich, Germany |
| Key Management | Roland Busch (CEO) |
| Revenue (US$ Bn) | $ 81.8 Billion (2022) |
| Headcount | ~ 320,000 (2023) |
| Website | https://www.siemens.com/ |
About Siemens
Siemens AG, through Siemens Healthineers, has significantly advanced in remote patient monitoring (RPM) companies with its DigitalHands platform.
Which provides preconfigured self-monitoring kits, including tablets and blood pressure monitors, to improve patient engagement and data accuracy.
Additionally, Smart Remote Services (SRS) enable real-time monitoring of medical equipment for proactive maintenance and reduced downtime.
To bolster its digital capabilities, Siemens acquired Altair Engineering for $10.6 billion in October 2024 and Brightly Software for $1.575 billion in June 2022.
Enhancing its industrial software portfolio and digital infrastructure. These initiatives underscore Siemens AG’s commitment to advancing its RPM and digital health solutions.
Geographical Presence
Siemens AG, a leading German multinational based in Munich and Berlin, operates in over 190 countries. The company has a strong presence in Europe, North America, Asia, and the Middle East and Africa.
Offering a wide range of products and services. In North America, Siemens has invested about $3 billion in the last four years to enhance its technology and manufacturing capabilities. Its global operations include significant facilities in Germany, Singapore, and China.
With approximately 45,200 R&D employees and an R&D budget of €5.7 billion in fiscal 2019. Siemens is committed to innovation and expanding its market reach across various sectors.
Recent Developments
- In October 2024, Siemens acquired Altair Engineering, strengthening its role in the industrial software market and emphasizing its focus on data analysis and artificial intelligence.
- In June 2022, Siemens acquired Brightly Software, a U.S. SaaS provider of asset management solutions, reinforcing its leadership in the buildings and infrastructure software market.
GE-Healthcare
Company Overview
| Establishment Year | 1994 |
| Headquarter | Chicago, Illinois, United States |
| Key Management | Peter Arduini (CEO) |
| Revenue (US$ Bn) | $ 19.6 B (2023) |
| Headcount | ~ 51,000 (2023) |
| Website | http://www.gehealthcare.com/ |
About GE Healthcare
GE HealthCare has improved its remote patient monitoring (RPM) companies’ capabilities through strategic partnerships and acquisitions.
In October 2022, it collaborated with AMC Health to integrate acute monitoring with AMC’s RPM solutions for ongoing care of patients with chronic conditions.
In January 2024, GE HealthCare announced plans to acquire MIM Software. Which provides AI-enabled image analysis tools to support its precision care strategy.
Additionally, in July 2024, it agreed to acquire Intelligent Ultrasound Group’s clinical AI business for approximately $51 million to enhance its ultrasound offerings.
These efforts underscore GE HealthCare’s commitment to advancing its RPM capabilities and patient care through digital solutions.
Geographical Presence
GE Healthcare Technologies, Inc. is a global medical technology leader operating in over 160 countries and serving more than one billion patients annually.
It has a strong presence in North America, particularly in the U.S. and Canada, where sales rose by 8% in the third quarter of 2024.
Key European locations include France, Finland, Poland, and Hungary, while the Asia-Pacific region features the John F. Welch Technology Center in Bengaluru, India.
The company also operates extensively in the Middle East and Latin America to improve healthcare access.
Headquartered in Chicago, Illinois, GE HealthCare focuses on manufacturing and R&D, including a joint venture in India, facilitating local production and customized medical technologies globally.
Recent Developments
- In July 2024, GE Healthcare acquired Intelligent Ultrasound Group’s clinical AI software business for around $51 million.
- In October 2022, GE Healthcare and AMC Health partnered to offer Remote Patient Monitoring (RPM), extending patient care from hospitals to the home.
Philips
Company Overview
| Establishment Year | 1891 |
| Headquarter | Amsterdam, Netherlands |
| Key Management | Roy Jakobs (CEO) |
| Revenue (US$ Bn) | $ 19.6 Billion (2022) |
| Headcount | ~ 69,656 (2023) |
| Website | http://www.philips.com/ |
About Philips
Koninklijke Philips N.V. has bolstered its remote patient monitoring (RPM) companies capabilities through key acquisitions and innovations.
In February 2021, Philips purchased BioTelemetry, Inc. for about USD 2.8 billion, enhancing its cardiac care RPM portfolio. Earlier, in January 2021, it acquired Capsule Technologies, Inc. for USD 635 million, which strengthened its ability to integrate patient data across care settings.
Additionally, in November 2021, Philips acquired the French firm Cardiologs, known for its AI and cloud-based cardiac diagnostic solutions.
These acquisitions underscore Philips’ commitment to advancing RPM solutions and enhancing patient care through digital technology.
Geographical Presence
Koninklijke Philips N.V., or Philips, is a health technology company based in Eindhoven, Netherlands, operating in over 100 countries.
Its North American headquarters are located in Cambridge, Massachusetts, with additional facilities in Nashville, Tennessee, and Markham, Ontario.
Further, In Europe, Philips has its main office in the Netherlands and significant operations in Germany and the United Kingdom.
Moreover, In the Asia-Pacific region, the company employs over 17,500 people in China, operates manufacturing sites in India, and maintains regional headquarters in Singapore. This broad geographical presence allows Philips to meet diverse healthcare needs effectively.
Recent Development
- In November 2021, Philips acquired Cardiologs, a French medical technology firm specializing in using artificial intelligence and cloud technology to improve cardiac diagnostics.
- In January 2021, Philips acquired Capsule Technologies, Inc., a provider of medical device integration and data technologies for healthcare.
Medtronic
Company Overview
| Establishment Year | 1949 |
| Headquarter | Dublin, Ireland |
| Key Management | Geoff Martha (CEO) |
| Revenue (US$ Bn) | $ 32.3 Billion (2024) |
| Headcount | ~ 95,000 (2024) |
| Website | http://www.medtronic.com/ |
About Medtronic
Medtronic plc has enhanced its remote patient monitoring (RPM) companies capabilities through strategic acquisitions and product launches.
In March 2024, the company acquired MC3 Cardiopulmonary, which specializes in extracorporeal membrane oxygenation (ECMO) technology, leading to the launch of the VitalFlow ECMO system.
This acquisition enhances Medtronic’s RPM offerings with advanced ECMO solutions. Additionally, the CareLink™ network enables healthcare professionals to remotely monitor patients with implanted cardiac devices, improving outcomes and reducing hospital visits.
These initiatives underscore Medtronic’s commitment to advancing RPM solutions and patient care through digital technology.
Geographical Presence
Medtronic plc, a leading healthcare technology company, operates in over 150 at approximately 350 locations worldwide.
The company has a strong presence across the Americas, Europe, Asia, and Australia, with major offices in the U.S., Canada, Brazil, China, India, Germany, and South Africa.
Notably, Medtronic has invested $160 million to expand its Engineering and Innovation Center in Hyderabad, India, enhancing its focus on software development and engineering research.
This broad geographic reach and strategic investments underscore Medtronic’s dedication to meeting diverse healthcare needs through innovation and localized solutions.
Recent Development
- In October 2023, Medtronic recalled its MiniMed 600 series or 700 series insulin pumps due to the shortened battery life.
- In September 2024, Medtronic launched VitalFlow, a user-friendly all-in-one extracorporeal membrane oxygenation (ECMO) system for clinicians.
Abbott
Company Overview
| Establishment Year | 1888 |
| Headquarter | Green Oaks, Illinois, U.S. |
| Key Management | Robert B. Ford (CEO) |
| Revenue (US$ Bn) | $ 40.1 B (2023) |
| Headcount | ~ 114,000 (2023) |
| Website | http://www.abbott.com/ |
About Abbott
Abbott Laboratories has significantly advanced its remote patient monitoring (RPM) companies capabilities through strategic acquisitions and innovative product developments.
Further, In September 2023, Abbott completed the acquisition of Bigfoot Biomedical, a company specializing in intelligent insulin management systems for diabetes patients, thereby enhancing its RPM offerings in diabetes care.
Additionally, Abbott’s Merlin@home™ transmitter enables remote monitoring of patients with implanted cardiac devices, allowing healthcare providers to receive timely data without in-person visits.
These strategic initiatives underscore Abbott’s commitment to expanding its RPM solutions and enhancing patient care through advanced digital technologies.
Geographical Presence
Abbott Laboratories is a global healthcare company operating in over 160 countries, offering products in diagnostics, medical devices, nutrition, and pharmaceuticals.
It has a strong presence in North America, particularly the U.S., and maintains manufacturing and research facilities in Europe, including Ireland, the UK, and Germany.
In the Asia-Pacific region, Abbott serves markets in India and China, while its Latin American operations focus on Brazil, Argentina, and Mexico.
The company is also expanding in the Middle East and Africa, leveraging its extensive network to deliver innovative healthcare solutions.
Recent Developments
- In October 2024, Abbott Laboratories terminated the sale of a 51% stake to The Searle Company Limited.
- In September 2024, Abbott’s acquisition of Bigfoot Biomedical enhanced its diabetes care by complementing the FreeStyle Libre® technology and advancing personalized management solutions.
Omron
Company Overview
| Establishment Year | 1933 |
| Headquarter | Kyoto, Japan |
| Key Management | Junta Tsujinaga (CEO) |
| Revenue (US$ Bn) | $ 5.7 Billion (2023) |
| Headcount | ~ 28,034 (2023) |
| Website | http://www.omron.com/ |
About Omron
Omron Corporation has improved its remote patient monitoring (RPM) capabilities through key innovations.
In January 2021, it launched VitalSight™, an RPM service for hypertension that enables data sharing between patients and physicians to enhance treatment engagement.
The OMRON Connect app was also introduced, allowing users to sync their connected blood pressure monitors for personalized hypertension management.
In February 2022, Omron partnered with JMDC Inc. to create personalized health solutions by integrating medical data with its monitoring devices. These efforts highlight Omron’s commitment to advancing RPM and digital health solutions.
Geographical Presence
Omron Corporation, headquartered in Kyoto, Japan, is a global leader in automation components and systems, operating in over 130 countries.
Its significant geographical presence spans across Asia, including key markets such as China, India, and Japan; Europe, with operations in countries like Germany, France, and Spain; the Americas, including Brazil, Canada, Mexico, and the United States; as well as Africa, primarily in South Africa, and Oceania, with a focus on Australia and New Zealand.
This extensive network enables Omron to provide localized support and tailored solutions to meet the diverse needs of its global customers.
Recent Developments
- In August 2024, Omron Corporation partnered with Neura Robotics to enhance manufacturing with AI-powered cognitive robots.
- In January 2021, OMRON Healthcare launched its first remote patient monitoring service and digital tools to enhance patient-physician communication and support hypertension management.
ResMed
Company Overview
| Establishment Year | 1989 |
| Headquarter | San Diego, California, U.S. |
| Key Management | Michael Farrell (CEO) |
| Revenue (US$ Bn) | $ 4.6 Billion (2024) |
| Headcount | ~ 9,980 (2024) |
| Website | http://resmed.com/ |
About ResMed
ResMed Inc. has enhanced its remote patient monitoring (RPM) companies’ capabilities through strategic acquisitions and innovations.
In November 2022, it acquired MEDIFOX DAN, a German leader in out-of-hospital care management software, for €958.6 million, expanding its software-as-a-service (SaaS) offerings and adding outpatient therapy services.
Earlier, in October 2021, ResMed acquired Ectosense, a provider of cloud-connected home sleep testing devices, which improved remote sleep apnea diagnosis and treatment.
Additionally, ResMed’s AirView™ platform allows healthcare professionals to securely monitor patients with sleep-disordered breathing and respiratory insufficiency, enabling timely interventions.
These initiatives demonstrate ResMed’s commitment to advancing RPM solutions and enhancing patient care through digital technology.
Geographical Presence
ResMed Inc., based in San Diego, California, is a leading provider of cloud-connected medical devices for sleep apnea and respiratory issues, operating in over 140 countries.
The company has a strong presence in North America, where it is expanding its marketing efforts, and it contributes significantly to global revenue through its operations in Europe.
In the Asia-Pacific region, including Australia, New Zealand, Japan, China, and India, ResMed addresses growing healthcare needs, while Latin America offers potential for growth with its developing healthcare infrastructure.
The company is also committed to improving patient care in the Middle East and Africa, navigating regional challenges with a focus on innovation and quality.
Recent Developments
- In November 2024, ResMed acquired MEDIFOX DAN, a leading German provider of software solutions for out-of-hospital care.
- In October 2021, ResMed acquired Ectosense, a leader in cloud-connected home sleep test devices that aid in diagnosing and raising awareness of sleep apnea.
Biotronik
Company Overview
| Establishment Year | 1963 |
| Headquarter | Berlin, Germany |
| Key Management | Alexander Uhl (CEO) |
| Revenue (US$ Bn) | $ 1.9 Billion (2023) |
| Headcount | ~ 9,000 (2023) |
| Website | http://www.biotronik.com/ |
About Biotronik
Biotronik has advanced its remote patient monitoring (RPM) companies capabilities through strategic partnerships and innovative products.
Its flagship solution, BIOTRONIK Home Monitoring®, allows automatic daily data transmission from cardiac devices, enabling healthcare providers to monitor patients’ vital signs and intervene as needed remotely.
In September 2022, Biotronik partnered with AliveCor to integrate AI-driven solutions into its cardiac monitoring systems, improving diagnostic accuracy and patient care.
Furthermore, in August 2024, the company launched the FlowGuide and Guidion Short guide extension catheters, developed with IMDS, to support complex vascular interventions.
These initiatives reflect Biotronik’s dedication to advancing RPM solutions and enhancing patient care through digital technology.
Geographical Presence
Biotronik SE & Co. KG, headquartered in Berlin, Germany, is a prominent global medical technology company specializing in cardiovascular, endovascular, and neuromodulation solutions.
Further, the company operates in over 100 countries, maintaining a significant presence in Europe, North America, Latin America, Asia, and Africa.
Key locations include Germany, Austria, Switzerland, the United States, Canada, China, India, and South Africa, among others.
Biotronik’s extensive geographical reach allows it to serve a diverse clientele, reinforcing its position as a leader in the medical technology industry.
Recent Development
- In August 2024, Biotronik launched FlowGuide and Guidion Short guide extension catheters to enhance support and device delivery in complex vascular interventions.
- In February 2024, Biotronik launched Freesolve, a vascular intervention coronary resorbable magnesium scaffold.
DexCom
Company Overview
| Establishment Year | 1999 |
| Headquarter | San Diego, California, U.S. |
| Key Management | Kevin Sayer (CEO) |
| Revenue (US$ Bn) | $ 3.6 Billion (2023) |
| Headcount | ~ 9,600 (2023) |
| Website | http://www.dexcom.com/ |
About DexCom
DexCom, Inc. has made significant strides in remote patient monitoring (RPM) by innovating its continuous glucose monitoring (CGM) systems.
Further, In August 2024, the company introduced Stelo, the first FDA-approved over-the-counter CGM, aimed at adults with type 2 diabetes not on insulin and non-diabetics interested in glucose monitoring.
Stelo features a wearable sensor that delivers readings every 15 minutes through a smartphone app, enhancing accessibility.
Additionally, the G7 CGM system offers real-time glucose monitoring with improved accuracy and a quick 30-minute sensor warm-up, enabling timely interventions for better diabetes management. These advancements reflect DexCom’s commitment to enhancing patient care through digital technology.
Geographical Presence
DexCom, Inc., headquartered in San Diego, California, specializes in continuous glucose monitoring (CGM) systems for diabetes management.
The company has a significant presence in the United States, distributing its products directly to consumers and healthcare providers.
Internationally, DexCom operates in several markets, including key European countries like Germany and the UK, as well as Canada, Australia, New Zealand, Japan, and parts of the Middle East, including Bahrain and the UAE.
The company continues to explore expansion opportunities, aiming to enhance accessibility to its innovative diabetes management solutions globally.
Recent Development
- In June 2024, DexCom partnered with the International Diabetes Federation to enhance the lives of people with diabetes.
- In May 2024, DexCom partnered with Bio Conscious Technologies to combine Dexcom CGM data with the AI-powered ARPM platform to Bio Conscious’ Endobits.
Garmin
Company Overview
| Establishment Year | 1989 |
| Headquarter | Schaffhausen, Switzerland |
| Key Management | Cliff Pemble (CEO) |
| Revenue (US$ Bn) | $ 5.2 Billion (2023) |
| Headcount | ~ 20,000 (2024) |
| Website | http://www.garmin.com/ |
About Garmin
Garmin Ltd. has significantly advanced its remote patient monitoring (RPM) companies capabilities through strategic collaborations and product innovations.
The company’s smartwatches and fitness trackers, equipped with health and wellness features, facilitate continuous data collection, enabling healthcare providers to monitor patients remotely.
In July 2024, Garmin highlighted its role in transforming digital health and RPM by integrating its devices into various healthcare applications, enhancing patient engagement and adherence.
Additionally, Garmin has expanded its product portfolio through acquisitions, such as the purchase of JL Audio in September 2023, aiming to integrate premium audio solutions into its offerings.
These strategic initiatives underscore Garmin’s commitment to enhancing its RPM solutions and advancing digital health technologies.
Geographical Presence
Garmin Ltd. is a global leader in GPS-enabled technology, with its headquarters in Olathe, Kansas, and its legal domicile in Schaffhausen, Switzerland.
The company has a significant presence across North America, Europe, Asia-Pacific, and the Middle East, with offices in key locations such as the United States, the United Kingdom, Belgium, and Taiwan.
Further, Garmin’s diverse product portfolio spans various sectors, including fitness, outdoor activities, aviation, marine, and automotive, and is distributed through independent retailers, online platforms, and original equipment manufacturers.
Strategic acquisitions, such as Navionics and Lumishore, have further expanded its market reach and enhanced its product offerings, solidifying its position in the global market.
Recent Developments
- In October 2024, Garmin launched G3000 PRIME, a new advanced integrated flight deck.
- In September 2024, Garmin launched the Garmin Dash Cam X series of high-quality dash cameras.
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