DUBLIN, Sept. 13, 2022 /PRNewswire/ — The “Remote Patient Monitoring Market By Condition, By Component: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The remote patient monitoring market was valued at $1.9 billion in 2021, and is estimated to reach $8.5 billion by 2031, growing at a CAGR of 16.3% from 2022 to 2031.
Companies are expected to invest in remote patient monitoring devices to alter their ready-to-work practices during the pandemic as most COVID-19 patients are asymptomatic. COVID-19 has laid a solid platform for doctors and patients to successfully employ remote patient monitoring.
The World Health Organization (WHO) on January 30, 2021 declared COVID-19 as a pandemic and general wellbeing crisis of international concern. COVID-19 has impacted around 210 countries across the globe, owing to the COVID-19 pandemic. State-run administrations across the globe declared inescapable lockdowns as well as social distancing measures to forestall breakdown of the healthcare structure.
States have additionally given constraints and preventions on undertakings and elective surgeries. These obstructions continue to influence the growth of different industries and the enhanced response toward these regulations affects the industry. The distribution, production, and store network have been impacted, due to lockdowns across the globe.
Similarly, the remote patient monitoring market had a positive impact during the pandemic, owing to social distancing norms and least availability of hospital beds for maximum adaptation of home-based patient care system. Hence, overall, the pandemic had a positive impact on remote monitoring market
The major factors that drive the growth of global remote patient monitoring market trends are increase in lifestyle changes, surge in number of …