Advanced Remote Patient Monitoring Systems Market Global Industry Volume By Region 2020

Remote patient monitoring systems refer to a technology that enable monitoring of patients outside the conventional clinic or hospital premises. The main concept behind remote patient monitoring is to avoid the inconvenience caused to critical patients. Advanced remote patient monitoring systems include sophisticated peripherals that facilitate real time audio and video service. This enables face to face interaction between the patients and medicine professionals. These systems are highly useful as it reduces the travel time of patients to clinics and improves the medical consultation. This can reduce mortality rates and enable efficient use of medical resources. The connectivity between the patients and medical professionals is attained using wireless technologies such as wireless local area networks (WLAN) and cellular networks. Advanced remote patient monitoring systems helps in avoiding emergency overcrowding, manage large number of patients and improved maintenance of electronic health records (EHR).

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One of the major factors driving the advanced remote patient monitoring systems market is low treatment costs. Advanced remote patient monitoring systems reduce the expenses such as hospital admissions, travelling costs and others. Increasing number of patients with diseases such as diabetes, congestive heart diseases and others is major factor driving the demand for advanced and cost effective healthcare solutions. Monitoring systems deliver low cost, fast and reliable consulting of these diseases as compared to conventional consulting. Furthermore, advanced remote patient monitoring systems help the medical professional to monitor number of patients simultaneously from one place. This enables increased coverage of patient monitoring with less number of medical personnel.

With continuous monitoring of patients, the medical professionals can diagnose serious disorders in an early stage. This leads to improved patient care and reduced mortality rate. Furthermore, increasing adoption of mobile devices such as smartphones, tablet personal computers (PCs) and others is another factor boosting the advanced remote patient monitoring systems market.

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The advanced remote patient monitoring systems market is segmented based on the type of monitoring, end-user and geographic regions. The different types of monitoring include vital signs monitoring, diagnostic monitoring and specialized monitoring. Vital sign monitoring comprises blood pressure, pulse oximeters and other physical parameters. Diagnostic monitoring includes electrocardiogram (ECG) and others. Specialized monitoring includes disease specific monitoring such as anesthesia, diabetes - glucose, cardiac rhythm, respiratory and other disorder monitoring. The advanced remote patient monitoring systems market is segmented based on end-users as hospital based patients and telemedicine patients. Geographically, the advanced remote patient monitoring systems market is segmented into four major regions as North America, Europe, Asia Pacific and Rest of the World (RoW). At present, North America accounts for the largest share in terms of revenue in advanced remote patient monitoring systems market. This is mainly due to rising lifestyle diseases such as atherosclerosis, asthma, osteoporosis and other heart diseases. Additionally, availability of sophisticated monitoring devices is another factor responsible for this growth. North America is expected to remain the dominant market for the next few years owing to high investment in healthcare sector.

Some of the leading players in advanced remote patient monitoring systems market include Abbott Laboratories, Drager Medical GmbH, Covidien Ltd., GE Healthcare, Masimo Corporation, Johnson and Johnson Inc., Mindray Medical International Ltd., Natus Medical Inc., Mortara Instrument Inc., Nihon Kohden Corporation, Omron Healthcare Co. Ltd., Nonin Medical Inc., Koninklijke Philips N.V., Roche Diagnostics Ltd. and others.

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