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% from 2016 to 2021.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.
Monitoring programs can also help keep people healthy, allow older and disabled individuals to live at home longer and avoid having to move into skilled nursing facilities. RPM can also serve to reduce the number of hospitalizations, readmissions, and lengths of stay in hospitals—all of which help improve quality of life and contain costs.
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Global Remote Patient Monitoring Market: Drivers & Restraints
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.
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Global 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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Global Remote Patient Monitoring market: Overview
Supportive government programs such as the Centre for Technology and Aging based in California, is devoted towards rapid technological advancement in remote patient monitoring devices which leads to maintenance of independent and healthier living. The extensive role of remote monitoring devices in chronic disease management, which includes an early warning system, care integrator, progress tracker, confidence builder and capacity builder are expected to further drive the industry growth over the forecast period.
The vital sign monitors are commonly used and are expected to remain as the fastest growing division over the forecast period. Heart rate monitor is identified as the dominating product sub segment due to increasing incidences of cardiac related conditions globally. The surge in the number of individuals with heart disorders has led to the increased usage of these monitors.
Global Remote Patient Monitoring market: Region-wise Outlook
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.
Key Questions Answered
- What is the current and future Remote Patient Monitoring market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Remote Patient Monitoring space globally?
- 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 Remote Patient Monitoring?
- What are the challenges and barriers that have hindered widespread adoption of Remote Patient Monitoring?
Global 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 Global 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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