The North America Remote Patient Monitoring Market is poised to reach $484 million by 2020 growing at a CAGR of 8.0%. Remote patient monitoring (RPM), also called homecare telehealth, is a category of ambulatory healthcare that permits a patient to use a mobile medical device to accomplish a routine test and guide the test data to a healthcare expert in real-time. RPM technology comprises day-to-day monitoring devices such as glucose meters for patients with diabetes and heart or blood pressure monitors for patients getting cardiac care. Information can be sent to a physician’s workplace by using a special telehealth computer system, by using a special software application installed on the patient’s Internet-capable computer, smartphone or tablet PC.
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Currently, the global market is dominated by the North America region followed by the likes of Europe. USA is the largest market in this region. The North America Remote Patient Monitoring market can be segmented on the basis of type of device (Heart monitors, Breath Monitors, Hematology monitors and Multi Parameter monitors), End user (Home healthcare, Clinics, Hospitals and Others), Geography (USA and Canada).
Increase in the chronic disease population, increase in the aging population, and demand for home based monitoring devices are all the major factors driving the growth of the patient care monitoring market. The need to contain the average healthcare expenditure is one of the major reason driving the growth of the market.
Resistance from the healthcare industry professionals towards the adoption of the patient monitoring system, lack of proper reimbursement policies and stringent regulatory framework are the challenges faced by the Patient monitoring equipment market.
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