According to the report “Global Remote Patient Monitoring Market” published by Market Data Forecast, the global market is projected to reach USD 59.26 billion by 2021 from USD 31.6 billion in 2016, at a CAGR of 13.4%.
Remote patient monitoring (RPM) uses digital technologies to collect medical and other forms of health data from individuals in one location and electronically transmit that information securely to health care providers in a different location for assessment and recommendations.
Monitoring programs can collect a wide range of health data from the point of care, such as vital signs, weight, blood pressure, blood sugar, blood oxygen levels, heart rate, and electrocardiograms.
This data is then transmitted to health professionals in facilities such as monitoring centers in primary care settings, hospitals and intensive care units, skilled nursing facilities, and centralized off-site case management programs. Health professionals monitor these patients remotely and act on the information received as part of the treatment plan.
The factors influencing the Global Market for Remote Patient Monitoring Market, either positively or negatively are presented in the DROC analysis. The increasing economic problem on medical clinics and hospitals for patient admittance is the major factor boosting the global remote patient monitoring devices market in the forecast period. Cloud computing is also a key driver of this individual market, which is estimated to surge connectivity immensely in the coming years. Conversely, the shortage in sustaining the safety and secrecy of the data is the key factor obstructing the growth of this market.
For granular level understanding, the Remote Patient Monitoring Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segments.
- By Type
- Breath Monitors
- Physical Activity Monitors
- Heart Monitors
- Haematological Monitors
- Multi-Sign Monitors
- By Application
- Cancer Treatment
- Cardiovascular Diseases
- Diabetes Treatment
- Sleep Disorder
- Weight Management and Fitness Monitoring
- By End-User
- Ambulatory Care Centers
- Home Healthcare
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. The North America region leads the global remote patient monitoring market and is also expected to continue in that position during the forecast period. The Asia Pacific remote patient monitoring market is proposed to witness fast growth owing to numerous factors comprising of the rising costs of healthcare services and the flourishing medical tourism industry in countries such as Japan and India.
- North America Remote Patient Monitoring Market
- Europe Remote Patient Monitoring Market
- Asia-Pacific Remote Patient Monitoring Market
- Latin America Remote Patient Monitoring Market
- Middle East and Africa Remote Patient Monitoring Market
The market contributors involve in mergers and attainments along with new product enhancement in an effort to preserve sustainability. Some key players include Welch Allyn, Bosch, Johnson & Johnson, Intel, Roche, Philips Healthcare, Philips, Healthanywhere Inc, Honeywell, American Telecare, Biotronik, and Covidien Plc.
The Remote Patient Monitoring Market study offers the following deliverables:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming
- Segment-level analysis on basis of producttype, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that effect the global market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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