Asia Pacific Remote Patient Monitoring Systems Market Opportunity Analysis by 2023 | ABBOTT LABORATORIES, AMD SOUTH AMERICA TELEMEDICINE, BAXTER, BOSCH MEDICAL, BOSTON SCIENTIFIC, CARDIOCOM, COVIDIEN, GE HEALTHCARE

The Asia Pacific remote patient monitoring systems market is expected to witness a CAGR of 12.9% during the forecast period, 2018-2023. Cardiac monitoring segment occupied the largest share in Asia-Pacific market and is predicted to maintain its share till 2023.

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Demand for Home-Based Monitoring Devices
The adoption of the various home based monitoring devices has been a helped in growing of the healthcare industry drastically. The switch towards the home care and preventive care has led to the higher acceptance of the remote patient monitoring devices. With the help of these devices the patients can keep a track of their well-being and offer accurate diagnosis. These devices are also helping the patients to recover better after surgeries and during the treatments. However, a paradigm shift towards the home based monitoring is increasing which is driving the remote patient monitoring systems market.
The other factors also include rising incidences of chronic diseases due to lifestyle changes, increase in aging population, need to contain healthcare expenditure and ease of use and portability devices to promote the growth.

Key Developments in the Market
January 2017 - Omron Healthcare Introduced Avail, A Wireless Device For Drug-Free Pain Relief. The device can treat multiple pain sites simultaneously and is controlled by Omron’s new mobile app, Omron TENS, enabling users to operate Avail remotely

Major players –
ABBOTT LABORATORIES, AMD SOUTH AMERICA TELEMEDICINE, BAXTER, BOSCH MEDICAL, BOSTON SCIENTIFIC, CARDIOCOM, COVIDIEN, GE HEALTHCARE AND OMRON HEALTHCARE, amongst others.

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Lack of Trained Staff and Physicians
The major restraint for the market is the lack of trained staff and physicians, as these systems require a lot of expertise in handling the remote patient monitoring system.
The other factor also includes resistance from healthcare industry professionals towards the adoption of patient monitoring systems and stringent regulatory framework.

Japan Dominates the Market
Geographically the Asian market has been segmented under various regions namely, China, Japan, India, Australia & New Zealand, and South Korea. Japan dominates the Asia-Pacific patient monitoring system market in 2016, which was followed by China, India, and Korea. The market is majorly driven by the factors such as increasing number of chronic disease in Asia-Pacific, as two in three deaths were from chronic disease worldwide in 2016.

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This release was published on openPR.