Growth in Adoption of Telemedicine and Telehealth Services Expected to Drive Global Remote Patient Monitoring System Market: Ken Research
As per analysis, “Remote Patient Monitoring System Market: Current Analysis and Forecast (2021-2027)” the key companies operating in the global remote patient monitoring system market include American Telecare, GE Healthcare, Boston Scientific Corporation, Johnson & Johnson, F.Hoffmann-La Roche, Omron Corporation, Medtronic, Philips Healthcare, Abbott Laboratories and among others.
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By product type, remote patient monitoring system market has been bifurcated as specialized-monitors, vital-sign monitors and others. Specialized monitors include cardiac rhythm monitor, blood glucose monitor, respiratory monitor, anesthesia monitor, multi-parameter monitor and others. Specialized monitors segment dominates the global market owing to its ability to monitor clinically important data pre & post-surgery, prevent complications and identify symptoms. Vital sign monitors include brain monitor (EEG), Heart Rate Monitor (ECG), pulse oximeter, temperature monitor, respiratory rate monitor and blood pressure monitor. In vital sign monitors segment, the heart rate monitor segment is expected to witness higher CAGR due to increase in incidence of cardiac conditions during the forecast period. By application, market has been segregated as sleep disorders, diabetes, weight management & fitness tracking, cardiovascular diseases and others. In addition, by end-user, market has been segregated as home care settings, hospitals/clinics and others.
Rise in demand for wireless & portable systems, followed by growth in geriatric population, growth in technological advancement, rise in prevalence of chronic conditions and increase in investments in the telehealth & remote patient monitoring are some major factors, which are responsible for growth of the remote patient monitoring system market. However, informal usage of social media practices and increase in regulatory variations may impact the market. Moreover, high utility of real patient monitoring in combating infectious disease & epidemics and role is a leading opportunity for market.
Based on regional analysis, the North-America is a leading region in global remote patient monitoring system market owing to presence of sophisticated reimbursement structures and increase in incidence of chronic diseases across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to rise in demand for wireless & portable systems and higher mortality rate over the forecast period. It is estimated that future of the global remote patient monitoring system market will be optimistic on account of growth in adoption of telemedicine & telehealth services during the forecast period.
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Ankur Gupta, Head Marketing & Communications
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