14 December 2018
– The Global Remote
Patient Monitoring Market is anticipated to grow at a
significant CAGR of 15.66% in the upcoming period as the scope, product types,
and its applications are increasing across the globe. Remote patient monitoring
devices, as the name suggests, supports in the monitoring of the patient’s
physical state at a distance. The patient does not need to visit the medical
consultant. The factors that propel the growth of the market include
technological advancements, rise in the prevalence of chronic diseases like
diabetes and heart conditions, growing aged population across the globe and
increasing awareness among people. On the other hand, there are factors that
may hamper the growth of the market including lack of training, high cost of
device and unavailability of expert professionals.
The remote patient monitoring market may be explored by
condition, component, application, end user and geography. The market may be
explored by the condition as chronic obstructive pulmonary disease (COPD),
congestive heart failure (CHF), diabetes, mental health, blood pressure, and
others. Based on the component, the market could span software and devices.
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The key applications that could be explored in the market
include cardiovascular diseases treatment, cancer treatment, diabetes
treatment, weight management, fitness monitoring and sleep disorder treatment
and others. The “Heart rate monitor” segment led the market in 2015 and will
continue to lead in the forecast period. The key factors that may be attributed
to the growth of market includes increase in the demand for home health care
and independent living by the aged population.
The market could span as end user as home healthcare,
hospital-based patients, ambulatory patients, alternate site patient monitoring
and others. The “Hospital-Based Patients” segment led the market in 2017 and
will continue to lead in the forecast period. The key factor that may be
attributed to the growth of the market includes high demand.
North America accounted for the major share of the remote
patient monitoring market in 2017 and will continue to lead in the forecast
period. The factors that could be attributed to the growth include
technological advancements, implementation of appropriate government
initiatives in order to curb the deteriorating environmental conditions and
improved healthcare infrastructure. North America is followed by the
Asia-Pacific region.
Some of the key players that fuel the growth of the remote
patient monitoring market comprise Honeywell, Philips, American Telecare,
Philips Healthcare, Roche, Bosch, Intel, Bortnick, Welch Allyn, Covidien Plc,
Johnson & Johnson, and Health anywhere Inc. The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
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Market Segment:
The market is divided
into the following segments based on geography:
• Americas
• APAC
• EMEA
Global Remote Patient Monitoring Market 2018-2022, has been
prepared based on an in-depth market analysis with inputs from industry
experts. The report covers the market landscape and its growth prospects over the
coming years. The report also includes a discussion of the key vendors
operating in this market.
Key vendors
• GE
• Koninklijke Philips
• Abbott
• Boston Scientific
• Medtronic
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