Report Says Telemedicine and RPM Markets Will Continue to Expand
GlobalData, a data and analytics company, released its findings in a new report.
The market for telemedicine and remote patient monitoring (RPM) has been rapidly expanding, driven by the COVID-19 pandemic and the need for remote healthcare delivery. RPM devices are estimated to grow to a market value of $1.2 billion by 2025, while the market for telemedicine is projected to reach $185.6 billion by 2026, according to GlobalData.
RPM devices allow healthcare providers to monitor patients’ health metrics from a distance. This technology provides early detection of health problems and can prevent unnecessary hospital visits, making it an attractive option for both patients and providers.
Cynthia Stinchcombe, Medical Devices Analyst at GlobalData, says, “Artificial intelligence (AI) is also being integrated into telemedicine and RPM, enabling providers to analyze data from remote monitoring devices and gain valuable insights into patient health. This technology has the potential to significantly improve patient outcomes and reduce healthcare costs.”
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