MedTech–Pharma alliances intensify as remote monitoring turns profitable

Ward-centered RPM expansion…market size expected to grow

Daewoong, Dong-A ST, Yuhan, and others start forming therapeutic area-based partnerships.

Rising pharma collaboration… competition likely between digital health alliances

As the remote patient monitoring (RPM) market enters a profit-generating phase, competition in the form of alliances between medical device companies and pharmaceutical firms is intensifying.

Currently, the domestic RPM market is developing within a framework of alliances between medical device companies and pharmaceutical firms. Seers Technology is partnering with Daewoong Pharmaceutical, Mezoo with Dong-A ST, Huinno with Yuhan Corp, and Wellysis with Samjin Pharmaceutical, forming a competitive landscape among these alliances.

Seers Technology is rapidly building references by targeting hospitals with its ward monitoring platform thynC. Mezzue, which is set to list on KOSDAQ in March, is targeting the ward monitoring market with its mobile patient monitoring platform, HiCardi. Wellysis is expanding through wearable ECG devices, while Huinno is growing its business around ECG-based digital healthcare solutions.

This surge in collaboration is interpreted as a sign that the RPM market has entered a phase where it is generating revenue. Pharmaceutical companies can expand patient management services based on therapeutic expertise and sales networks, while digital healthcare firms can strengthen data acquisition and platform competitiveness. These aligned interests are accelerating collaboration.

RPM market expands beyond ECG to patient management platforms

RPM is a digital healthcare technology that continuously measures and manages patients’ vital signs outside hospitals or within general wards.

While the initial market was centered on wearable ECG-based arrhythmia detection technology, it has recently been rapidly evolving into a platform format that simultaneously analyzes various vital signs such as heart rate, respiration, body temperature, and physical activity levels.

According to market research firm Markets and Markets, the global RPM market is expected to grow from USD 27.7 billion (KRW 41 trillion) in 2024 to USD 56.9 billion (KRW 85 trillion) by 2030, with an estimated annual growth rate of approximately 12–13%.

RPM market prospect: Rise from USD 27.7 billion (2024) to USD 56.9 billion (2030) 

In fact, as hospitals increasingly adopt ward-based monitoring systems, related companies are seeing rapid revenue growth.

Industry observers assess that the RPM market is now transitioning from the technology validation phase to the actual commercialization phase.

An industry source stated, “Pharmaceutical companies are expanding the market by applying specialized strategies aligned with their therapeutic areas and sales environments. Even those not currently collaborating with medical device companies are closely watching as successful cases emerge.”

Hospitals adopt multiple platforms …market expansion phase

However, many in the industry view the competition in the RPM market as being closer to a phase of market expansion rather than a zero-sum game for the time being.

In fact, some hospitals are adopting multiple RPM platforms simultaneously.

An industry insider noted, “While some hospitals adopt only a single solution, others adopt two platforms simultaneously after proof of concept (PoC) has been validated. Since the RPM market is still in its early stages, the structure allows multiple companies to grow together.”

Similar to how markets expand when new mechanisms of action enter therapeutic areas, insiders believe the key factor for the RPM market is in increasing the number of hospital beds adopting the technology.

As a result, analysts expect the RPM market to grow rapidly over the next 3–5 years, with multiple players expanding simultaneously.

Competition in the RPM market is expected to intensify further following upcoming initial public offerings (IPOs) and global expansion.

For example, Daewoong Pharmaceutical is pursuing a platform expansion strategy involving multiple partners in addition to Seers Technology, such as Skylabs, iKooB, and Puzzle AI, suggesting that competition may evolve beyond simple partnerships between medical device companies and pharmaceutical firms, into broader digital health alliances.

Ultimately, the RPM market may evolve beyond mere collaboration between medical device companies and pharmaceutical firms into a data-driven patient management platform industry.

An industry insider stated, “The RPM market is now moving beyond technological competition into a phase of platform competition. How companies build service models based on patient data will determine their future competitiveness.”