An estimated 14% of global ventures offer Remote Patient Monitoring solutions, and since 2016, the number of Remote Patient Monitoring ventures has grown 1.4x to reach 1056 ventures in Q1, 2021 (excluding ventures that have been acquired or issued an IPO).
Remote Patient Monitoring uses technology to monitor patient health outside of a traditional clinical setting, such as at home, in a care facility or in a remote area. It ranges from monitoring vitals to tracking mental state, sharing daily logbooks or requesting feedback that medication has been taken in appropriate dosages at correct timings. The information can either be shared directly over telecommunication links and directly connected to the HCP electronic health records system or stored locally and shared during a patient visit.
For this report, Galen Growth has considered Remote Patient Monitoring in 3 categories:
- Remote Patient Monitoring Devices
- Disease Management
- Digital Therapeutics