Remote Patient Monitoring Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC338

Remote patient monitoring is a healthcare service segment which allows a patient to utilize a medical device to perform and monitor a general routine test and send the concerned results of test to healthcare professionals in real time, sitting at remote locations. In alignment with the recent trend of patients desiring medical care at their homes, various remote patient monitoring devices have been launched to eliminate the overall need for frequent visits to health clinics and hospitals. Hence, remote patient monitoring devices provide a more customized treatment and post treatment plan. Remote patient monitoring is a technique generally used to receive and collect medical and other health-related information from individual patients present at one location and thus transmit the same electronically to a healthcare professional sitting at a remote location. Remote patient monitoring devices are used to analyze and monitor physiological parameters such as vital signs, blood oxygen levels, blood pressure, heart rate, and blood sugar, thus improving the quality of life, quality of care, and permits easier and earlier prediction of exacerbations and aggravations remotely. This reduces the overall number of duration of hospitalization and emergency department visits. This is attributed to the improving access to healthcare systems, large undiagnosed patient population and a high risk of developing chronic disease due to rapid urbanization.

Diabetes, various chronic heart diseases such as cancer etc. and chronic respiratory diseases are the major causes of mortality and morbidity, worldwide. According to WHO, chronic care management accounts for approximately 75% of the overall healthcare expenses. Hence, increase in prevalence of chronic illnesses creates an enormous financial burden on the caregivers. This is where remote patient technologies come into role play and identifies even the small changes in the patient’s physiological information and sustains self-monitoring. Thus, reduction of readmissions and prevention of avoidable hospitalizations is achieved using remote patient monitoring systems. Moreover, remote patient monitoring reduces the number of unnecessary visits to the doctors and reduce the overall travel-related expenses which are necessary for receiving efficient medical care. On short and long term basis, remote patient monitoring systems, by properly implementing, can expand access to quality healthcare facilities, and thus can save the total turnaround time and expenses. Increasing expenditure on healthcare facilities coupled with increasing demand for effective treatment solutions for fatal chronic diseases is anticipated to boost the overall growth of global remote patient monitoring market. The global remote patient monitoring market is also anticipated to be driven by rise in geriatric population suffering from chronic diseases, thus propelling the demand for remote patient monitoring devices. In addition, the rising awareness towards remote patient monitoring devices amongst physicians and patients, and demand for opinion based diagnosis of chronic diseases due to lack of standard diagnostic tests especially in rural areas is projected to surge the growth of global remote patient monitoring market in near future. However, lack of trained professionals to operate remote patient monitoring devices and systems is expected to hinder the growth of global remote patient monitoring market. Moreover, insufficiency in maintaining the security and privacy of stored information and data coupled with lack of general awareness on patient monitoring and lack of uniformity in device functionality are the key factors challenging the growth of global remote patient monitoring market.

The global remote patient monitoring market can be segmented on the basis of product type, end-user, application and geography. By product type, the global remote patient monitoring market can be segmented into respiratory monitors, cardiac monitors, hematological monitors and others. On the basis of end-users, the global remote patient monitoring market can be segmented into long term care centers, homecare settings, hospitals and others. On the basis of application, the global remote patient monitoring market can be segmented into diabetes, sleep apnea, hyperlipidemia, cardiac arrhythmia, ischemic diseases, hypertension and chronic respiratory diseases. On the basis of geography, the global remote patient monitoring market can be segmented into North America, Europe, Latin America, Middle East & Africa (MEA) and Asia-Pacific.

Key players operating in the global remote patient monitoring market include Koninklijke Philips N.V., Abbott Laboratories, Boston Scientific Corporation, Medtronic, F. Hoffmann-La Roche Ltd, Nihon Kohden Corporation, LifeWatch AG., St. Jude Medical among others.

Market Segmentation

Market by Product Type

·         Respiratory monitors

·         Cardiac monitors

·         Hematological monitors

·         Others

Market by End-user

·         Long term care centers

·         Homecare settings

·         Hospitals

·         Others

Market by Application

·         Diabetes

·         Sleep apnea

·         Hyperlipidemia

·         Cardiac arrhythmia

·         Ischemic diseases

·         Hypertension

·         Chronic respiratory diseases

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


Related Reports

Open MRI Systems Market (By Field Strength: Low, Medium, High; By Application: Brain, Spine, Abdominal, Breast, Cardiac, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The global open MRI systems market is expected to grow at a CAGR of around 6.1% over the forecast period 2019 to 2026 and expected to reach the market value of around US$ 1,563.1 Mn by 2026. Magnetic resonance imaging (MRI) systems refer to the equipment which uses the medical imaging technique to form images of physiological processes of the body with the help of radiofrequency pu

Artificial Intelligence for Drug Discovery Market (By Drug Type: Small Molecule, Large Molecule; By Technology: Deep Learning, Machine Learning; By Application: Metabolic Disease, Cardiovascular Diseases, Oncology, Neurodegenerative Diseases, Others; By End use: Pharmaceutical & Biotechnological Companies, Academic & Research Institutes, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The Global Artificial Intelligence for Drug Discovery Market size is expected to reach around US$ 8,149 Mn by 2026 and is expected to register a CAGR of above 42%. There is constant increase in number of patients suffering from chronic diseases across the globe and pharmaceutical companies are investing high on development of various drugs. Artificial Intelligence is able to assist manufacturers by providing s

Healthcare Staffing Market By Service (Travel Nurse, Locum Tenens, Per Diem Nurse, Allied Healthcare) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026

The global healthcare staffing market value is expected to reach around US$ 45.2 Bn by 2026 and growing at a CAGR of around 5.2% over the forecast period 2019 to 2026. Healthcare staffing agencies are the recruitment firms that provide a broad spectrum of healthcare staff ranging from nurse and physician to allied clinician and pharmacists. Healthcare facilities often need assistan

Ambulatory Surgical and Emergency Centers Market By Service Type (Orthopedics, Ophthalmology, Gastroenterology, Plastic Surgery, Pain Management or Spinal Injections, Others) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026

The global ambulatory surgical and emergency centers market is expected to grow at a CAGR of 6.2% over the forecast period 2019 to 2026 and market size is poised to reach US$ 203.1 Bn by 2026. Ambulatory surgery and emergency centers are medical care facilities that provide same-day surgery care which also includes consultation and diagnosis. It is a more convenient alternative to hospital based outpatient pro

Ambulatory Health Care Services Market By Type (Primary Care Offices, Medical Specialty, Emergency Departments, Surgical Specialty), By Application (Orthopedics, Ophthalmology, Gastroenterology, Plastic Surgery, Pain Management or Spinal Injections, Others) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026

The global ambulatory health care services market size is expected to surpass US$ 4.4 Tn by 2026 and will grow at a noteworthy CAGR of 5.9% over the forecast period 2019 to 2026. Ambulatory service centers (ASC) also referred as outpatient care centers. These are medical care facilities that provide outpatient services such as consultation, diagnosis, treatment, and intervention services. It is a more convenie

Ambulatory EHR Market By Application (Patient Management, Practice Management, E-prescribing, Population Health Management, Referral Management, Health Analytics, Decision Support), By Delivery Mode (Client Server-based, Web-based), By End User Mode (Independent Ambulatory Centers, Hospital-owned Ambulatory Centers) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026

The global ambulatory EHR market size is expected to reach US$ 6.8 billion by 2026 and will grow at a CAGR of around 6.0% over the forecast period 2019 to 2026. The digital version of the patient’s record is known as the electronic health records. It includes a wide range of patient’s information such as medical history, ongoing medication, allergies, personal statistics, the status of immunization, demographics, and laborator

Cart Summary