According to the report “North America Remote Patient Monitoring Market,” published by Market Data Forecast, the global market is projected to reach USD 18.68 billion by 2021, growing at a CAGR of 13.06% during the forecast period 2016-2021
Remote patient monitoring technology involves regular monitoring devices for instance glucose meters for patients suffering from diabetes and blood pressure monitors for patients receiving cardiac upkeep. Data can be sent to a physician’s clinic by means of a specific telehealth computer system, through a special software application installed on the patient’s computer, smartphone or tablet PC.
Remote patient monitoring devices, due to their capability to monitor various chronic conditions such as diabetes, cardiovascular conditions and cancer are expected to witness substantial growth over the forecast period. Increasing incidences of cardiovascular diseases, rising geriatric population base and the growing demand for independent and healthy living by them are high impact rendering drivers for remote patient monitoring devices market.
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North America Remote Patient Monitoring Market: Drivers & Restraints
Some of the major drivers for remote patient monitoring market are growth in the chronic disease population, rise in the aging population, increasing demand for home-based monitoring devices and need to enclose the average healthcare expenses. Endurance from the healthcare industry experts for the adoption of the patient monitoring systems, dearth of proper reimbursement strategies and stringent regulatory framework are the challenges confronted by the patient monitoring market.
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North America Remote Patient Monitoring Market: Segmentation
- Breath Monitors
- Physical Activity Monitors
- Heart Monitors
- Haematological Monitors
- Multi-Sign Monitors
- Cancer Treatment
- Cardiovascular Diseases
- Diabetes Treatment
- Sleep Disorder
- Weight Management and Fitness Monitoring
- Ambulatory Care Centers
- Home Healthcare
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North America Remote Patient Monitoring Market: Overview
The North American remote patient monitoring market is propelled by government guidelines to reduce healthcare costs. The increasing occurrence of diabetes is a major factor that is predicted to increase the demand for haematology monitoring devices in the global remote patient monitoring devices market. The Cardiac Arrhythmia application segment is expected to account for 20.2% revenue share of the global remote patient monitoring device market by 2016 end while the Diabetes segment is expected to account for 14.2% revenue share of the global remote patient monitoring device market by 2016 end.
In the end user category, the Hospitals segment is expected to account for 46.3% revenue share of the global remote patient monitoring device market by 2016 end while the Homecare Settings segment is expected to account for 24.0% revenue share of the global remote patient monitoring device market by 2016 end. Revenue from the Hospitals segment in the global remote patient monitoring device market is expected to increase 1.6X by 2021 end as compared to that in 2016.
North America Remote Patient Monitoring Market: Region-wise Outlook
Based on geography the market is analysed under various regions namely, USA and Canada. USA being the largest market globally holds the highest number of shares followed by Canada. The major factors backing to the growth of the market in this region are the aging population and lifestyle diseases that are further serving the overall prevalence of chronic diseases.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Remote Patient Monitoring Market outlook in North America?
- What trends are affecting the North America market?
- What is the competitive landscape and market share of major players in the Remote Patient Monitoring space in North America?
- What are the key, high growth markets that Remote Patient Monitoring manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Remote Patient Monitoring currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Remote Patient Monitoring?
- What are the challenges and barriers that have hindered widespread adoption of Remote Patient Monitoring?
North America Remote Patient Monitoring Market: Key Players
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.
Reasons to buy North America Remote Patient Monitoring Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, 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 affect the 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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