Comprehensive Analysis on Remote Patient Monitoring Devices Market | Key Players are: Abbott Laboratories, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., Nihon Kohden Corporation, St. Jude Medical, LifeWatch AG, and Medtronic
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.
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Remote patient monitoring is gaining popularity owing to the increase in chronic diseases and aging population. In the traditional healthcare setting all the data collected is lost as soon as the patient leaves the hospital and it is only found when a patient visits again. However, remote patient monitoring device helps in collecting the data and share it even from a remote location outside hospital or clinic.
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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