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Remote Patient Monitoring Devices Market Forecast Research Reports Offers Key Insights

02-23-2017 02:22 PM CET | IT, New Media & Software

Press release from: TMR - Research Reports

Remote Patient Monitoring Devices Market Forecast Research

Remote patient monitoring is an emerging healthcare solution that enables monitoring of patients who are away from hospital settings. Remote patient monitoring offers several advantages such as reduction in hospital visits, data recording for prolong period, quick and accurate results, reduced cost for patients and assistance to medical practitioner with historic patient data. In addition, remote patient monitoring also reduces the waiting time in hospitals and enables medical practitioners to access the patient records from multiple places. Furthermore, growing demand for electronic health record (EHR) is fueling the demand for remote patient monitoring devices since these devices offer integration with cloud data bases for data storage and access. Growing patient population, rising awareness of lifestyle disorders and technological developments in medical devices have accentuated the growth of remote patient monitoring devices market.

Get PDF containing the Forthcoming Market Trends of Remote Patient Monitoring Devices at: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=401

Heart monitors, breath monitors, physical activity monitors, hematology monitors, body temperature monitors, multi-sign monitors and others are some of the remote monitoring devices that are widely used. Rising incidences of chronic diseases that require continuous monitoring such as diabetes, blood pressure and cardiovascular conditions, propels the demand for medical devices. In 2013, heart rate monitors segment dominated the global remote patient monitoring devices owing to high demand for these devices mainly due to rising prevalence of cardiac diseases. Furthermore, rising geriatric population propels the prevalence of cardiac diseases globally. Thus, owing to increasing number of patients diagnosed with cardiac diseases accentuates the uptake the heart rate monitors.

In 2013, ambulatory care centers segment accounted for the largest share in the global remote patient monitoring devices market. Growing geriatric population is primarily driving the demand for ambulatory care centers, as elderly people are at a higher risk of acquiring diseases and infections. However, rise in demand for home-based treatment as more number of patients opts for diagnosis and treatment of diseases at home boosts the home healthcare segment during the forecast period from 2014 to 2020.

Geographically, North America contributed the largest share in the global remote patient monitoring devices market. Increasing incidences of cardiovascular and respiratory diseases coupled with rising preference to reduce hospital readmissions. Under the Hospital Readmissions Reduction Program created by the Patient Protection and Affordable Care Act, government of the U.S. has imposed penalty to hospitals. As a penalty government has announced reduction up to 1% in the Medicare payment per patient for hospital readmission within 30 days in 2013. Thus, to reduce the hospital readmissions, medical professionals are promoting remote patient monitoring in the region.

Read the Current Market Status of Remote Patient Monitoring Devices at: http://www.transparencymarketresearch.com/remote-patient-monitoring-devices-market.html

The global remote patient monitoring devices market is a fragmented market with many local players competing with global players. In addition, presence of all the necessary resources is enabling easy entry of medical device manufacturers into the remote patient monitoring devices market. Thus, major players in the market are strategically collaborating with local players to offer innovative technologies and thereby sustain in the competition. In November 2014, LifeWatch AG partnered with Vital Connect, Inc., a health care company based in Silicon Valley. This collaboration enables LifeWatch to utilize Vital Connect’s HealthPatch MD as 1-lead ECG device in LifeWatch’s cardiac monitoring business. LifeWatch aims to expand its cardiac monitoring devices business by adding patch technology to its product offerings. Similarly, in December 2014, Omron Healthcare Inc. collaborated with AliveCor, Inc., a California-based company that provides mobile technology for heart health. The two companies aim to improve access to remote patient monitoring products through retail and online channels, especially for heart patients.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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