Remote Patient Monitoring Devices Market Growth Rises With Increasing Prevalence Of Respiratory Disorders To 2025 as per Top Key Players Abbott Laboratories, GE Healthcare, Omron Healthcare, Medtronic, St. Jude Medical, Smiths Medical, Philips Healthcare

Coherent Market Insights has announced the addition of the “Global Remote Patient Monitoring Devices Market, By Product Type (Cardiac Monitors, Respiratory Monitors, Hematological Monitors, Vital Signs Monitors), Application (Cardiac Arrhythmia, Diabetes, Ischemic Diseases, Hypertension, Sleep Apnea, Chronic Respiratory Diseases, Hyperlipidemia), End User (Hospitals, Home Care Settings, Long-term Care Centers), and Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025”, The report classifies the Remote Patient Monitoring Devices Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

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Major Driver of Remote Patient Monitoring Devices Market

The remote patient monitoring devices market is expected to grow drastically owing to the government regulations to control the rising healthcare costs, the technological innovations and developments of efficient self-monitoring products. The Patient Protection and Affordable Care Act, also known as Obamacare was implemented under the Hospital Readmissions Reduction Program by U.S. government to impose penalties to hospitals. According to the penalty, government had reduced up to 1% in the Medicare payment per patient for hospital readmission within 30 days in 2013, thereby, accelerating the growth of remote patient monitoring devices by the healthcare professionals. According to the Biomed Central Respiratory Research 2016, asthma and chronic obstructive pulmonary disease (COPD) are common chronic obstructive lung disorders characterized by variable airflow limitation and airway hyper responsiveness, affecting over 25 million people in the U.S. The patient monitoring devices are largely been validated as clinically effective tools for the management of disease.

Market Dynamics

The market is gaining significant traction due to rising prevalence rate of hypertension and diabetes. Management of these chronic conditions include a lifelong collaboration with the healthcare professionals. According to the World Health Organization 2012, an estimated 1.5 million deaths were directly caused by diabetes and another 2.2 million deaths were attributable to hyperglycemia or high blood glucose levels. The technological innovations and developments of remote monitoring products are contributing to the market growth. For instance, the FDA approval of CGM remote mobile communications device Dexcom SHARE, an accessory of Dexcom G4 PLATINUM Continuous Glucose Monitoring System, uses a secure wireless connection to transmit the glucose levels of a diabetic. With Dexcom SHARE, the glucose data can be easily monitored by parents and personal caregivers from a remote location.

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Increasing Awareness Of Home-Based Treatments Is A Prominent Factor To Fuel The Remote Patient Monitoring Devices Market

The rise in the geriatric population, associated with high susceptibility to chronic diseases, increases demand for home-based treatments, opinion based diagnosis of chronic diseases tests in rural areas is expected to boost the global remote patient monitoring device market. The remote patient monitoring device in Asia Pacific is expected to increase over the forecast period, owing to high population base and the increasing purchasing power of the patients. The key players are acquiring smaller organizations to improve their product portfolio and gain additional market share. The collaborations between manufacturers, hospitals, and academic institutions are expected to establish a positively impact the market growth.

Market Taxonomy

This report segments the global remote patient monitoring devices market on the basis of product type, application, end user, and geography. On the basis of product type, the remote patient monitoring devices market is categorized into cardiac monitors, respiratory monitors, hematological monitors, vital signs monitors and others. On the basis of application, the remote patient monitoring devices market is categorized into cardiac arrhythmia, diabetes, ischemic diseases, hypertension, sleep apnea, chronic respiratory diseases and hyperlipidemia. On the basis of end-user, the remote patient monitoring devices market is categorized into hospitals, home care settings, long term care centers and others. For comprehensive understanding of market dynamics, the global remote patient monitoring devices market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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Detailed Segmentation:

Global Remote Patient Monitoring Devices Market, By Product Type:
Cardiac Monitors
Respiratory Monitors
Hematological Monitors
Vital Signs Monitors
Others

Global Remote Patient Monitoring Devices Market, By Application:
Cardiac Arrhythmia
Diabetes
Ischemic Diseases
Hypertension
Sleep Apnea
Chronic Respiratory Diseases
Hyperlipidemia

Global Remote Patient Monitoring Devices Market, By End User:
Hospitals
Home Care Settings
Long-term Care Centers
Others

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