THE REMOTE PATIENT MONITORING MARKET IS ANTICIPATED TO WITNESS SIGNIFICANT GROWTH OVER THE NEXT DECADE

The ability to remotely monitor patients using various consultation tools and software have revolutionized modern healthcare practices.

The concept of monitoring patients over telephone can be traced back to the 1800’s. However, it was not until 1961, during the National Aeronautics and Space Administration (NASA) space mission, when remote physiologic monitoring of astronauts was efficiently required. Further, with the introduction of cloud computing in 1960s, the remote patient monitoring domain evolved at a significant pace, as these solutions were capable of enabling information sharing and analysis to carry out the process in a more robust manner. Since then, the domain has gained more popularity amongst patients and their caregivers owing to ease of use and cost-effectiveness.

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It worth highlighting that despite the various advantages offered, it was not until the COVID-19 pandemic that remote patient monitoring (RPM) solutions witnessed rapid adoption. During the pandemic, several regional governments endorsed the use of such solutions in order reduce low-importance or follow-up visits to hospitals and clinics and consequently, limit the spread of the virus. Further, various healthcare facilities, such as hospitals and clinics, have actively started monitoring and managing their patients remotely. At present, RPM solutions are complimenting conventional approaches to provide better and well-defined healthcare facilities to patients.

RPM solutions can facilitate services for patients suffering from chronic, as well as acute, disorders. As a result, RPM solutions are capable of reducing the burden on healthcare facilities, especially in the wake of a pandemic. It is worth highlighting that RPM solutions involve a set of functions that are performed by the software to produce the analyzed output. These functions include data collection, transmission, evaluation and notifications.

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 Data Collection: It includes continuous collection of a patient’s vital signs from various sources, such as wearable devices, IoT devices and sensors. It is important to mention that the data is collected remotely, without an oversight from a healthcare provider.
 Transmission: The data collected from RPM devices is transmitted to the healthcare provider via the internet, text, phone or other modes of communication. The collated data can either be transmitted continuously or stored in a cloud / web-based platform.
 Evaluation: The transmitted data is then analyzed by a software in order to evaluate the patient’s condition. The physician then examines the received data and provides information on areas of concern.
 Notification: The data gathered is then fed into an AI system that sends quick alerts to the patient. In case immediate attention is required, alerts are sent to the specific emergency responders in order to prioritize the treatment. In addition to risk-alerts, the physicians might communicate relevant data-driven insights and interventions to patients.


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Request Sample - Remote Patient Monitoring Market | Industry Analysis | Market Size | 2030

Given their various benefits, the remote patient monitoring solution providers market is poised to grow at a CAGR of over 24.0%, till 2030...