Attention towards science, technology and innovation (STI) is at an all-time high as healthcare systems worldwide continue to adapt and respond to the new normal, and challenges remain to be addressed.
With limited movement, strict health protocols that people must observe in public places and a sense of unease when visiting medical facilities, safer health monitoring alternatives aided by wearables and at-home medical devices are being offered.
Remote patient monitoring (RPM) has witnessed a significant application and exponential growth, especially since the onset of the pandemic, as healthcare providers remain under pressure to provide holistic and efficient healthcare services. RPM makes use of connected health monitoring devices which allow healthcare professionals and patients to observe, analyze, track and report a patient’s acute or chronic conditions wherever they are in the world. The devices range from health and fitness monitoring smartwatches, activity and sleep trackers, glucometers, hemoglobin meters, blood ketone meters, lactate test meters, uric acid meters, digital blood pressure monitors, heart rate monitoring devices, medical diagnostic devices, pulse oximeters and other non-invasive gadgets which can have Bluetooth connectivity or can be connected via smart devices.
According to a report by Insider Intelligence, 30 million patients in the US alone will use RPM tools by 2024, indicating a 28.2 percent growth from the data in 2020. It further provides that the global RPM systems market will be worth more than US$1.7 billion by 2027. Meanwhile, a report from Grand View Research, Inc. stated that the global patient monitoring devices market is projected to reach US$73.46 billion by 2028 and is set to grow at a CAGR of 8.8 percent. Furthermore, North America has contributed the largest among the regions with a 42.70 percent share.
Incorporating RPM both in the overall health management of a person and the disease management of a patient not just minimizes costs but also results to lower readmissions to hospitals, care facilities or emergency rooms. Patients no longer have to travel back and forth to facilities just for check-up, allowing them more time to recuperate and take care of themselves. Since patients and healthcare providers have access to the patient’s health data, it brings an added peace of mind and daily assurance that someone is watching out for their health and well-being. RPM also allows people to monitor and manage their health more efficiently while at home. It allows for better engagement between clinicians and patients, resulting in improved patient behavior.