According to this report, the Global Remote Patient Monitoring Market was worth $31.6 billion in 2016 and is estimated to be growing at a CAGR of 13.4%, to reach $59.26 billion by 2021.
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Innovative technologies have been transforming the healthcare field in recent years.
From electronic patient accounts, telemedicine devices, remote patient monitoring, and other health IT systems, the medical business is rapidly becoming more digital and practical. All of these capabilities are meant to improve patient care, enhancing public health outcomes, and dropping overall medical costs.
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Remote patient monitoring is becoming a sturdy market amongst healthcare suppliers. Emerging remote patient monitoring systems are expected to incorporate current technologies influencing the healthcare industry such as wearable devices or telemedicine.
A shift from an irregular model to a vibrant constant care model will permit the probability of primary detection and response of healthcare contributors.
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The increasing economic problem on medical clinics and hospitals for patient admittance is the major factor boosting the global remote patient monitoring devices market in the forecast period. Cloud computing is also a key driver of this individual market, which is estimated to surge connectivity immensely in the coming years.
Conversely, the shortage in sustaining the safety and secrecy of the data is the key factor obstructing the growth of this market.
The global remote patient monitoring market is segmented on the basis of type into breath monitors, physical activity monitors, heart monitors, haematological monitors and multi-sign monitors. Based on application the market is segregated into cancer treatment, cardiovascular diseases, diabetes treatment, sleep disorder and weight management and fitness monitoring.
On the basis of end users market is bifurcated into ambulatory care centers, hospitals and home healthcare. The increasing occurrence of diabetes is a major factor that is predicted to increase the demand for haematology monitoring devices in the global remote patient monitoring devices market.
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Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. The North America region leads the global remote patient monitoring market and is also expected to continue in that position during the forecast period.
The Asia Pacific remote patient monitoring market is proposed to witness fast growth owing to numerous factors comprising of the rising costs of healthcare services and the flourishing medical tourism industry in countries such as Japan and India.
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The market contributors involve in mergers and attainments along with new product enhancement in an effort to preserve sustainability. Some key players include Welch Allyn, Bosch, Johnson & Johnson, Intel, Roche, Philips Healthcare, Philips, Healthanywhere Inc, Honeywell, American Telecare, Biotronik, and Covidien Plc.
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