Remote Patient Monitoring Market Transforming the Healthcare Industry by Growing at Highest CAGR of 17.0% to reach $2,130 million by 2022

The Global Remote Patient Monitoring Market size was $703 million in 2015 and is expected to grow at a CAGR of 17.0% to reach $2,130 million by 2022. Remote patient monitoring (RPM) is a technology used to collect medical and health-related data from individuals at one location and electronically transmit it to a healthcare provider at another location.

Remote Patient Monitoring is an innovative care delivery model that securely transmits patients data to healthcare teams, and alerts the providers about the early signs of clinical deterioration, and thus creates opportunities for timely intervention. It allows hospital and healthcare systems to improve and ensure compliance with post-discharge plans. This is because the doctor has access to patients vitals outside the hospital premises. They identify any potential health problems using the historical track records and time-based monitoring, and intervene before they cause any emergency.

Presently, North America and Europe are the most lucrative markets supplemented by factors, such as high purchasing power leading to rapid adoption of innovative technologies, increase in prevalence and incidences of chronic diseases in these region owing to the sedentary lifestyle, and established reimbursement policies along with the improved awareness. The Asia-Pacific RPM market is projected to be fastest growing geography globally. The market growth in this region is primarily attributed to the large undiagnosed patient population, improving access to the healthcare systems, and a high risk of developing chronic disease due to rapid urbanization.

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The congestive heart failure (CHF) is the highest revenue-generating segment in this market owing to the high-risk and life-threatening consequences associated with heart failure, which can be avoided using RPM technologies. In addition, the increase in geriatric population that leads to increase in incidences of age-related heart problems will further drive the market growth. Whereas, diabetes would account for the fastest growing segment owing to the increase in incidence of diabetes, presence of well-established smart glucose monitoring technologies in the market and rise in adoption by end users. The diabetes segment would exhibit significant growth in the Asia-Pacific and LAMEA, supplemented by the increase in awareness and adoption among end users.

Key Findings of the Remote Patient Monitoring (RPM) Market:

• CHF was the leading segment in 2015, and is expected to maintain its lead throughout the analysis period.
• Diabetes will be the fastest growing segment throughout the analysis period.
• Devices will be both the highest revenue generating and fastest growing segment of the global remote patient monitoring (RPM) market.
• Saudi Arabia market for remote patient monitoring is projected to grow at a high CAGR of 21.3%.
• U.S. was the largest country market in 2015, and is projected to maintain its lead until 2022.

Top Key Players :

• Aerotel Medical Systems (1988) Ltd.
• Biotronik SE & Co. KG
• Boston Scientific Corporation
• General Electric Company
• Nihon Kohden Corporation
• Medtornic Plc
• Masimo Corporation
• Abbott Laboratories
• Johnson and Johnson
• Omron Corporation.

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