Remote Patient Monitoring Devices Market Value to Reach US$0.98 bn by 2020

Global Remote Patient Monitoring Devices Market: Snapshot

The global remote patient monitoring devices market is experiencing lucrative growth in the coming years. This growth can be attributable to the changing outlook toward the treatment of diseases and presence of advanced technology. Some other factors such as growing acceptance of patient management owing to patient-centric approach is influencing positively on the growth of the global remote patient monitoring devices market. Additionally, manufacturers are increasingly showing interest in understanding need of patients through data analytics and surveys which is resulting in to growing manufacture of advanced devices to improve healthcare devices. An swift change in the demand toward home care and preventive care has boosted acceptance of remote patient monitoring devices.

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According to the report by TMR, the global remote patient monitoring devices market was valued at around US$0.38 bn in 2013 and is anticipated to expand with a CAGR of around 14.20% from 2014 to 2020 to attain value of US$0.98 bn by the end of 2020.

High incidences of chronic diseases to be Beneficial for Growth

On the basis of type, the global remote patient monitoring devices market is segmented into heart monitors, breathe monitors, physical activity monitors, hematology monitors, body temperature monitors, and multi-sign monitors. Out of these, heart monitoring devices segment is expected to dominate the global market owing to higher provenances of the chromic and heart diseases over the forecast period. Also, the factors such as growing number of patients suffering from high blood pressure are also contributing in the growth and booting its demand.

On the basis of end user, the global remote patient monitoring devices market is segmented into home healthcare and ambulatory care centers. Of these, the ambulatory care centers segment is dominating the global market in due to growing geriatric population, which are more susceptible to the risk of chronic diseases and other disorders.

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Growing Emerging Trend of Using Remote Patient Monitoring Devices in Asia Pacific to Propel Growth

On the basis of region, the global remote patient monitoring devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Of these, in 2016, North America accounted for leading share of 39.1% in the global market for remote patient monitoring devices. This dominance is attributable to strong presence of key players and growing geriatric population in the region. Moreover, well-established and presence of advanced healthcare infrastructure and growing awareness towards home healthcare are projected to influence positively on the growth of this regional market in the upcoming years. However, Asia Pacific is expected to expand with higher CAGR owing to growing concerns about health, rising investment in the healthcare sector, and rising disposable income among the population.

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This release was published on openPR.