Remote patient monitoring devices Market Set for Continued Growth to 2024 | By key vendors - Boston Scientific Corporation, Abbott Laboratories, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., Nihon Kohden Corporation
Some of the key players in the global remote patient monitoring devices market are Boston Scientific Corporation, Abbott Laboratories, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., Nihon Kohden Corporation, St. Jude Medical, LifeWatch AG, and Medtronic.
The ‘Remote Patient Monitoring Devices Market’ study drafted by Persistence Market Research is essentially an exhaustive review of present and future trends of this business sphere. The report also collates a concise outline of industry share contenders, market share, market size in terms of value and volume, distribution channel, and geographical spectrum along with revenue predictions of the industry landscape.
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The concept of telemedicine is also gaining momentum. It allows remote diagnosis and treatment of patients using a telecommunication device, this reduces cost substantially and offers care with comfort.
The manufacturers of remote patient monitoring devices are also focusing on research and development activities and increasingly investing in the same. This is being done to improve the remote patient monitoring device cur-rently offered and also decrease the high cost of devices.
Companies are also looking forward to come-up with a mobile application for remote patient monitoring, thereby, eliminating the need to spend on costly hardware. Manufacturers are developing cardiovascular and respiratory devices with increasing people suffering from various heart and breathing diseases. Hence, portable device monitoring heart rate and blood pressure. Sensor-based devices monitoring oxygen levels and to monitor medication usage are also being provided.
North America is expected to remain dominant in the global market for remote patient monitoring devices during 2017-2024. By 2024 end, North America is likely to surpass US$ 500 Million in terms of revenue. The U.S. is one of the largest countries in the region for remote patient monitoring devices. Technological advancements and the growing need for comfort is driving the demand for home-based monitoring devices. According to the report from American Heart Association, more than 80 million Americans have high blood pressure and more than 90 million Americans carry a diagnosis of cardiovascular diseases. Hence, the demand for remote patient monitoring devices is gaining traction in the region.
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Based on the product type, cardiac monitors are likely to witness the highest sales during 2017-2024. In terms of value, cardiac monitors are estimated to reach close to US$ 800 Million by 2024 end.
On the basis of indication, cardiac arrhythmia is expected to see a significant growth throughout the forecast period 2017-2024. Cardiac arrhythmia is projected to exceed US$ 300 Million revenue by the end of the forecast period. Meanwhile, ischemic diseases are also likely to see impressive growth in the global market for remote patient monitoring devices.
By the end user, hospitals followed by homecare setting are likely to experience a robust growth during 2017-2024. By the end of 2024, hospitals as the end users are projected to bring in nearly US$ 700 Million revenue.
Table of Content:
1. Executive Summary
2. Market Introduction
2.1. Remote Patient Monitoring Devices Market Definition
2.2. Remote Patient Monitoring Devices Market Taxonomy
3. Market Analysis Scenario
3.1. Remote Patient Monitoring Devices Volume Analysis
3.2. Remote Patient Monitoring Devices Pricing Analysis
3.2.1. Pricing Assumptions
3.2.2. Price Projections Per Region
4. Market Dynamics
4.1. Macro-economic Factors
5. Global Remote Patient Monitoring Devices Market Analysis and Forecast, By Product Type
5.1.1. Basis Point Share (BPS) Analysis By Product Type
5.1.2. Y-o-Y Growth Projections By Product Type
6. Global Remote Patient Monitoring Devices Market Analysis and Forecast, By Indication
6.1.1. Basis Point Share (BPS) Analysis By indication
6.1.2. Y-o-Y Growth Projections By indication
6.2. Market Size (US$ Mn) Forecast By Indication
6.2.1. Cardiac Arrhythmia
6.2.3. Ischemic diseases
6.2.5. Sleep apnea
6.2.6. Chronic respiratory diseases
7. Global Remote Patient Monitoring Devices Market Analysis and Forecast, By End User
7.1.1. Basis Point Share (BPS) Analysis By End User
7.1.2. Y-o-Y Growth Projections By End User
7.2. Market Size (US$ Mn) Forecast By End User
7.2.2. Homecare Settings
7.2.3. Long-term Care Centers
7.3. Market Attractiveness Analysis By End User
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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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