AI in Remote Patient Monitoring (RPM) Market

The AI in remote patient monitoring market is projected to reach USD 8,438.5 million by 2030 from USD 1,967.7 million in 2024, at a high CAGR of 27.5% during the forecast period. The primary growth driver is real-time health monitoring made possible by an AI that detects health issues early, thereby saving on hospital visits. RPM technology is making healthcare more efficient, reducing costs, and easing the burden on hospitals and medical staff. Furthermore, the Centers for Medicare & Medicaid Services (CMS) extended Medicare reimbursement for AI-assisted remote patient monitoring services. They will now provide payment for acute as well as chronic conditions, which should encourage more healthcare professionals to embrace these technologies.

The AI in remote patient monitoring market is dominated by key players. The major players operating in this market are, Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), OMRON Helathcare, Inc. (Japan), GE HealthCare (US), Biobeat (Israel), Boston Scientific Corporation (US), Dexcom, Inc. (US), NIHON KOHDEN CORPORATION (Japan), F. Hoffmann-La Roche Ltd (Roche Diagnostics) (Switzerland) , ResMed Inc. (US), AliveCor, Inc. (US), Biotronik (Germany), Beijing Choice Electronic Tech Co. Ltd. (China), TytoCare Ltd. (US), Gloooko, Inc. (US), Welldoc, Inc. (US), Zeto Inc. (US), Turtle Shell Technologies Pvt. Ltd. (Dozee) (India), Masimo (US), iRhythm Inc. (US).

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Market Ranking:

The ranking of companies in the AI in remote patient monitoring (RPM) market has been determined through a market share analysis, conducted after thorough secondary research and validated by primary respondents. This ranking considers parameters such as revenue generated from vascular access devices, product portfolio breadth and depth, innovation, and approvals and launches. Based on this analysis, the top three players leading the market are Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), and Boston Scientific Corporation (US). These companies dominate due to their strong market presence, extensive product portfolios, and continuous innovation in AI in RPM market.

Koninklijke Philips N.V. (Netherlands)

Koninklijke Philips N.V. is the parent company of the Philips Group. The company works in four areas: Personal Health, Diagnosis and Treatment, Connected Care and Others. Connected Care segments provide Al in Remote Patient Monitoring solutions. Philips has grown over time through collaborations with key partners in the marketplace. In July 2024, the organization partnered with Bon Secours Mercy Health on a short-term initiative that aimed to enhance patient monitoring within 49 hospitals. The objective was to raise care quality while maintaining costs under control. Some of its major subsidiaries are Philips Oral Healthcare, LLC (US), Philips GmbH (Germany), Philips Ultrasound, Inc. (US), and Philips Consumer Lifestyle B.V. (Netherlands). It spans operations across North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

Medtronic (Ireland)

Medtronic is a global healthcare technology company based in Dublin, Ireland. The company helps healthcare systems, doctors, clinicians, and patients in more than 150 countries worldwide. It operates through four main business areas: Cardiovascular, Neuroscience, Medical Surgical, and Diabetes.Medtronic offers AI-powered Remote Patient Monitoring solutions across all four of its business segments. Also, approvals and partnerships are being pursued for an expansion of its diabetes device portfolio.

In August 2024, Medtronic announced a partnership with Abbott for the integration of continuous glucose monitoring technology to improve diabetes care for the patients. In August 2024, Medtronic introduced the Simplera Continuous CGM and announced the intent for FDA and PMDA approval. The system offers secure near real-time glucose monitoring that helps users to realize better blood sugar control.

Boston Scientific Corporation (US)

Boston Scientific Corporation is a global developer, manufacturer, and marketer of medical devices used in a broad range of interventional medical specialties. The company operates primarily in two business segments, MedSurg and Cardiovascular. The MedSurg segment focuses on endoscopy, urology, and neuromodulation, offering minimally invasive solutions for various medical conditions. The Cardiovascular segment includes interventional cardiology, cardiac rhythm management, electrophysiology, and peripheral interventions, providing technologies for diagnosing and treating heart and vascular diseases. The company provides AI in remote patient monitoring through Cardiovascular segment.

Boston Scientific operates in over 40 countries across six continents, with regional headquarters and offices in the North America, Europe, Asia Pacific, Latin America and Middle East and Africa

Related Reports:

AI in Remote Patient Monitoring (RPM) Market by Component (Device: Wearable, Implantable, Portable; Software, Service), Indication (Cardiac, Neuro, Onco, Diabetes, Sleep, Mental Health), End User (Hospitals, Clinics, Payer), Region - Global Forecast to 2030

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