Implantable Remote Patient Monitoring Device Market Size, Share, Growth, and Industry Analysis, By Type (Implantable Cardiovascular Monitoring Device, Implantable Brain Monitors, Gastrointestinal Surveillance, Implantable Blood Monitoring Devices, Implantable Respiratory Monitoring Device, and Implantable Musculoskeletal Monitoring Devices), By Application (Hospital, Clinic, and Household), and Regional Forecast To 2031

Updated On: 22 April 2024

Implantable Remote Patient Monitoring Device Market Report Overview

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The global implantable remote patient monitoring device market size was USD 5928.5 million in 2022 & the market is expected to reach USD 25485 million by 2031, exhibiting a CAGR of 17.6% during the forecast period. 

The COVID-19 pandemic has been unprecedented and staggering, with implantable remote patient monitoring device market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand.

With the help of a transmitter, implantable remote patient monitoring devices collect data from various organs and body parts and send it to a monitoring system for further processing and interpretation. An implantable device that gathers information on various organs, including the heart, lungs, brain, bones, stomach, and skin, including an external transmitter. These technologies aid medical professionals in identifying any anomalies and the most likely causes of illnesses within the human body. The monitoring systems come with cutting-edge features like an early warning system, a progress tracker, and a capacity builder. The implantable remote patient monitoring device market is expected to grow as a result of an increase in the number of middle-aged and elderly people worldwide as well as a focus on high-quality care services.

Major factors influencing the adoption of devices include chronic diseases like cancer, diabetes, and cardiovascular disease. Governments from all around the world have started initiatives and given money to fund technological developments in the area of implantable remote patient monitoring devices and affordable healthcare. This market is probably going to gain from the expanding home healthcare trend. These devices profit from cutting-edge features including wireless networking and compatibility with smart devices. The application of IoT and AI in medical equipment has created new opportunities for industry growth. The augmenting growth of this market is attributing the increased implantable remote patient monitoring device market share and revenue systems.

COVID-19 Impact COVID-19 to Surge Implantable Remote Patient Monitoring Device Market Growth

The demand for has implantable remote patient monitoring device significantly increased as a result of COVID-19, and producers are now concentrating more on raising production to keep up with the rising demand for respiratory monitoring devices, multi-parameter monitoring devices, blood glucose monitoring devices, cardiac monitoring devices, temperature monitoring devices, and fetal/neonatal monitoring devices. In addition, it is anticipated that the market for neuromonitoring devices will recover its losses. The implantable remote patient monitoring device market is expanding as a result of a variety of factors, including an aging population and changing lifestyles, growing demand from the healthcare industry, and an increase in the number of monitoring device manufacturers.

Latest Trends

"Chronic Diseases to Increase Market Growth"

The demand for implantable remote cpatient monitoring devices is being driven by the rise in chronic diseases like diabetes, stroke, and renal disease. For example, the World Health Organisation (WHO) estimates that 422 million people worldwide have diabetes. The number of people who suffer from asthma, chronic obstructive pulmonary disease (COPD), and the high incidence of tobacco use are all rising quickly.

Implantable Remote Patient Monitoring Device Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into implantable cardiovascular monitoring device, implantable brain monitors, gastrointestinal surveillance, implantable blood monitoring devices, implantable respiratory monitoring device, and implantable musculoskeletal monitoring devices amongst which implantable cardiovascular monitoring device is the leading segment in the market.

• By Application Analysis

Based on application, the market can be divided into hospital, clinic, and household amongst which hospitals are the leading segment in the market.

Driving Factors

"Residential Healthcare Settings to Augment the Implantable Remote Patient Monitoring Device Market Growth"

The surge in demand for the devices to be utilized in domestic settings is the primary element projected to fuel the market's expansion. The market is also anticipated to grow as a result of the increased prevalence of cardiovascular disease globally, where patients require ongoing monitoring. The implantable remote patient monitoring device market is also being driven by the rise in the older population around the world. Because older people frequently have chronic conditions that necessitate for regular monitoring of their health, there is a greater demand in the market. Additionally, because they provide comfort to the patients, technologically advanced equipment including ventilators, nebulizers, oxygen monitors, and many others are predicted to drive market expansion.

"Wearable Monitoring Devices to Proliferate Market Expansion"

The market is expanding as a result of wearable implantable remote patient monitoring device expanding adoption. A few examples of patient monitoring tools, biosensors, and smart implants include continuous temperature, glucose, blood pressure, and pulse oximetry. Due to developments and the expanding potential of wireless data transmission networks driving the targeted industry, it will be simpler to construct platforms for telehealth and improved patient monitoring. Furthermore, IoT capabilities are a feature of contemporary wearable technology. Vital indicators including the ECG, blood pressure, and blood sugar are evaluated by wearable biosensors, which transmit the data to a central server using mobile wireless networks.

Restraining Factors

"High Cost and Less Professional Personnel to Restrain the Market Growth"

These implantable remote patient monitoring devices are highly expensive, and also need professional healthcare personnel to manage the devices and keep them working efficiently for the patient’s satisfaction and speedy recovery. But currently the healthcare sector lacks such professionally experienced and efficient individuals. Also, it is crucial to create methods for anticipating and correcting a system failure because equipment malfunction or inadequate planning frequently lead to system failures. Risk analysis related to system failures should be viewed as essential, especially for safety-critical applications like patient monitoring devices that deal with human health. These factors are anticipated to restrain the advancing market growth and hinder the propelling shares of the market as well.

Implantable Remote Patient Monitoring Device Market Regional Insights

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"North America to Remain Dominant Over the Forecast Period"

The implanted remote patient monitoring device market is dominated by North America, and this trend is expected to hold true during the projected period. The increased incidence of chronic diseases, the presence of cutting-edge technology, and the desire for wireless and portable systems intended to lower out-of-pocket costs are a few factors influencing the regional spread. Major market players including GE Healthcare, Edward Lifesciences, Masimo Corporation, and Natus Medical are also spending money on research and development to create more sophisticated patient monitoring facilities, which will fuel the industry's expansion.

Over the course of the projection, profitable growth is expected in the Asia-Pacific area. China and India have the largest populations of diabetics, and during the predicted period, this number is expected to increase. This results in an increase in diabetes preventive awareness, which augments market expansion even more.

Key Industry Players

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

List of Market Players Profiled

• Medtronic (Ireland)
• Abbott (U.S.)
• Profusa Inc. (U.S.)
• Qura Inc. (U.S.)
• Boston Scientific Corp. (U.S.)
• Harvard Bioscience Inc. (U.S.)
• Angel Medical Systems Inc. (U.S.)
• Bioness Inc. (U.S.)
• Biotronik Se & Co. Kg (Germany)
• Dexcom Inc. (U.S.)
• Endotronix Inc. (U.S.)
• Injectsense Inc. (U.S.)
• Integrated Sensing Systems Inc. (U.S.)
• Lindacare Nv (Belgium)
• Medico S.p.a. (Italy)
• Microport Scientific Corp. (China)
• Orthosensor Inc. (U.S.)
• Senseonics Holdings Inc. (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.