Remote Patient Monitoring Systems Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028
Homecare telehealth is among factors that are transforming the healthcare sector, and is facilitated by remote patient monitoring systems. Remote patient monitoring systems are a type of mobile healthcare systems that enable patients to utilise ambulatory medical devices. Routine tests can be performed using remote patient monitoring systems that transmit the real-time test automatically to the healthcare professional. Remote patient monitoring systems include daily use monitors, such as blood pressure or heart rate monitors, for heart patients and glucose level detectors for diabetes patients.
The data recorded by the remote patient monitoring systems can be accessed by physicians from any compatible remote network-connected device. The data obtained from remote patient monitoring systems is recoded in a relational database. This feature enables the physician to view data from remote patient monitoring systems as a trend and as a specific instance. Remote patient monitoring systems are mostly used by chronically ill and elderly patients. Remote patient monitoring systems enable physicians to monitor the medical conditions of patients closely and intervene in case their health deteriorates.
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Remote Patient Monitoring Systems: Market Drivers and Challenges
Incorporating remote patient monitoring systems for patients with chronic diseases can greatly enhance the quality of the life of patients. Remote patient monitoring systems allow patients to prevent unforeseen health complications, minimise the overall healthcare costs and maintain independence. By incorporating remote patient monitoring systems, patients can avoid last-minute clinic visits and doctor appointments. These factors are expected to maintain the growth of the global remote patient monitoring systems market.
Remote patient monitoring systems also offer physiological parameters-based trend analysis, which enable the early detection of health deterioration. The requirement of wireless mobility in the healthcare sector enhances the adoption of remote patient monitoring systems in institutional as well as community settings. The implementation of remote patient monitoring systems increases healthcare efficiency and enables healthcare providers to communicate and educate their patient remotely.
Remote Patient Monitoring Systems: Regional Market Outlook
Among all the regions, North America holds the largest market share of the global remote patient monitoring systems market and is expected to maintain a steady growth rate over the forecast period. The growth of the remote patient monitoring systems market in North America can be attributed to the ever-rising trend of home and industrial automation in the healthcare sector.
The rise in disposable income in the residential sector also plays a major role in driving the global remote patient monitoring systems market. Southeast Asia and Other Asia Pacific economies are expected to register a significant growth rate in the remote patient monitoring systems market. Western and Eastern European countries are also expected to generate a steady growth rate during the forecast period.
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Remote Patient Monitoring Systems: Key Market Players
Some of the major players operating in the global remote patient monitoring systems market include Drager Medical GmbH; Abbott Laboratories; Covidien Ltd.; Masimo Corporation; GE Healthcare; Johnson and Johnson, Inc.; Natus Medical, Inc.; Medical International Ltd.; Mortara Instrument, Inc. and Roche Diagnostics Ltd., among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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