45 Million RPM Recipients in North America by 2026
|The COVID-19 pandemic nearly doubled adoption for remote patient monitoring (RPM) over the past two years with mobile apps and integrated platforms for chronic disease management (CDM) responsible for most of this growth.
ON World has covered connected health for the past 15 years. In response to the pandemic, our analysts conducted an in-depth study on the impact of COVID-19 on connected health. This study included interviews with 100+ executives with connected health vendors, service providers and healthcare systems as well as several surveys with 2,500 consumers in the US and Canada.
Rapid Growth for Integrated CDM Platforms
The pandemic has resulted in rapid growth for integrated CDM platforms targeted at health systems such as such as Clear Arch Health, Connect America, Medically Home, Medtronic and Vivify. COVID-19 has also brought more awareness and driven adoption for integrated CDM platforms targeted primarily at corporate wellness such as Livongo (Teladoc).
The pandemic accelerated established RPM programs by pioneers such as Kaiser Permanente, Mayo Clinic and the Veteran Health Administration. It also triggered new national initiatives such as the "Acute Care at Home Program" that provided waivers for home-based acute care management for patients that would otherwise require hospitalization using RPM, telehealth and in-person care.
This growth has also resulted in dramatic change to the RPM competitive landscape with numerous mergers and acquisitions such as Clear Arch of Resideo's Life Care Solutions and Teladoc's $18.5 billion acquisition of Livongo. Other developments include cross-platform collaborations such as the Advanced Care at Home Coalition that was launched in October 2021 by the Mayo Clinic, Medically Home and Kaiser Permanente with about a dozen other health system participants.
$17.2 Billion North America RPM Market
By 2026, annual revenues for connected health devices, software and services for RPM in North America will reach $17.2 billion. By this time, there will be 44.5 million patients who have their vital signs and associated physiological data remotely monitored.
Although established RPM markets such as cardiac monitoring and respiratory/sleep disorders will make up most of the revenues over the next five years, users of mobile apps and integrated chronic disease management (CDM) platforms will increase 3X faster. Revenues from mobile apps and integrated CDM platforms will increase by a 36.2% compound annual growth rate (CAGR) over this period. While this growth is impressive, RPM revenues will make up only 1.5% of the total Medicare spending at this time.
Population Aged 60+ Will Double by 2050
In the US, all baby boomers will be older than age 65 by 2030. This will expand the size of the older population so that 1 in every 5 residents will be at retirement age. Largely due to this growth in the senior population, spending for the public/government-funded Medicare program is predicted to reach $1.7 trillion in 2030 more than double from spending in 2018 when it was $704.6 billion.
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