Remote Patient Monitoring Devices Market World's Top Players Include Abbott Laboratories, GE Healthcare, Omron Healthcare, Medtronic, St. Jude Medical

Remote patient monitoring devices allow for digital collection of medical health data from one location and electronically transmit the information to health care providers to another location for recommendation and assessments. The monitoring devices collect wide range of healthcare data from the point of care, which includes blood pressure, blood oxygen levels, heart rates, electrocardiograms, vital signs and blood sugar.

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According to the World Health Organization 2017, one-third of ischemic heart disease is attributable to high cholesterol. Increase in cholesterol levels is estimated to cause 2.6 million deaths (4.5% of total) and 29.7 million disability adjusted life years. The remote patient monitoring device provides easy-to-use and portable system with correct assessment of the cholesterol levels.

The global remote patient monitoring devices market is estimated to be valued at US$ 856.8 million in 2017 and is expected to witness a CAGR of 7.1 % during the forecast period (2017 – 2025).

Increasing prevalence of respiratory disorders drives the growth 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.

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.

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.

Major Key Companies:

Key companies covered as a part of this study include Abbott Laboratories, GE Healthcare, Omron Healthcare, Medtronic, St. Jude Medical, Smiths Medical, Philips Healthcare, F. Hoffmann-La Roche Ltd. And Kokinklijke Philips N.V. and St. Jude Medical.

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Detailed Segmentation:

• Global Remote Patient Monitoring Devices Market, By Product Type:

o Cardiac Monitors
o Respiratory Monitors
o Hematological Monitors
o Vital Signs Monitors
o Others

• Global Remote Patient Monitoring Devices Market, By Application:

o Cardiac Arrhythmia
o Diabetes
o Ischemic Diseases
o Hypertension
o Sleep Apnea
o Chronic Respiratory Diseases
o Hyperlipidemia

• Global Remote Patient Monitoring Devices Market, By End User:

o Hospitals
o Home Care Settings
o Long-term Care Centers
o Others

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This release was published on openPR.