Remote Patient Monitoring Devices Market Forecast during 2018 – 2025 | Omron Healthcare, Smiths Medical, Medtronic, AMD Global Telemedicine
Remote Patient Monitoring Devices Market Size is anticipated to reach over USD 1,882.75 Million by 2025 from USD 675.97 Million in 2017.
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Remote Patient Monitoring technology comprises devices such as glucose meters, blood pressure monitoring system, and other portable devices that are used by patients at a remote location. Growing usage of smartphones and increasing the expansion of the smartphone applications that are linked to the monitoring devices further helps in transmitting and recording person’s health-related data to the healthcare suppliers or specialists.
Growth Factors and Key Players: -
The rise in the implementation rate of remote patient monitoring devices, increasing number of geriatric populations, and growing incidence of patients suffering from different lifestyle diseases are the major factor boosting the Remote Patient Monitoring Devices Market.
With the increasing development in wireless technology, such monitoring devices are used to remotely monitor the physical parameters of the person such as heart rate, blood pressure, blood glucose level, and provide proper treatment if necessary.
Asia Pacific is also expected to dominate the market during the forecast. Rising disposable income, high presence of untapped market opportunities primarily in developing economies, advancement in technology, supportive government initiatives are some of the factors expected to significantly boost the market in the Asia Pacific.
The high cost associated with this device, stringent reimbursement guidelines and issues correlated with the government regulations are some of the factors anticipated to hinder the market growth.
Some major key players in Remote Patient Monitoring Devices Market includes: -
• Hoffmann-La Roche Ltd.
• AMD Global Telemedicine
• Honeywell International Inc.
• Omron Healthcare
• Smiths Medical
The object of these key market players is to deliver better chronic care administration while keeping the cost low. In addition, the companies are concentrating on producing easy-to-use monitoring devices that can aid patients to accomplish conditions including diabetes or heart diseases better by avoiding costly medical processes.
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On the basis of product type, the Remote Patient Monitoring Devices Market is segmented into Heart Rate Monitors, Heart Monitors, Blood Pressure Monitors, Sleep Apnea Monitors, Breath Monitors, Weight Monitors, Blood Glucose Monitors, Infusion Pumps, and Body Temperature Monitors. Heart rate monitor is estimated to dominate the product segment owing to growing global incidences of cardiovascular incidence. The increase in the number of people with cardiac diseases has led to the augmented use of such monitoring devices.
On the basis of application, the market is segmented into Cancer Treatment, Cardiovascular Diseases Treatment, Diabetes Treatment, Sleep Disorder Treatment, Weight Management and Fitness Monitoring. In 2017, cardiovascular disease treatment is estimated to dominate the market growth majorly owing to the increasing incidences of cardiovascular diseases.
On the basis of the end user, the market is segmented into Hospitals, Ambulatory Surgical Centers, and Homecare settings.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Partial TOC of Remote Patient Monitoring Devices Market: -
1. Industry snapshot
2. Ecosystem analysis
3. Market Dynamics
4. Industry analysis - Porter's five force
5. Degree of competition
6. Market PEST Analysis
7. Market Value Chain Analysis
8. Industry Trends
9. Competitive Ranking Analysis
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