The Remote Patient Monitoring System Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2025. The Remote Patient Monitoring System market report is a valuable source of data for business strategists. The process for developing an updated forecast and creating the market report involves the compilation and analysis of all derivative or application sectors with a country-wise analysis of demand trends, taking into account the economic, political, and legislative environment. We have taken a holistic approach to formulate and develop a clear market model for accurate market numbers. This Remote Patient Monitoring System Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
Top Companies in the Global Remote Patient Monitoring System Market
Abbott Laboratories (NYSE: ABT), AMD South America Telemedicine, Baxter International Inc. (NYSE: BAX), Bosch Medical, Boston Scientific Corporation (NYSE: BSX), Cardiocom, Medtronic plc (NYSE: MDT), Genesis Healthcare, Inc. (NYSE: GEN), Omron Healthcare, among others.
The global Remote Patient Monitoring System Market to grow with a CAGR of 14.2% over the forecast period of 2021-2026.
An increase in the chronic disease population, an increase in the aging population, and the demand for home-based monitoring devices are all the major factors driving the growth of the market. Operating home-based devices is becoming simple, and hence, these devices are being used by all age groups. They are also compact and portable and the patients can wear them all the time without unease. These devices also ensure that the patient’s condition is monitored all the time. Moreover, the need to maintain the average healthcare expenditure is one of the major reasons for the growth of the market.
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Multi-parameter monitors are devices that monitor various parameters, such as arterial blood pressure, heart rate, body and skin temperature, oximetry, and capnography, with a single device. These devices have become popular as they are small, portable, and user-friendly. The multi-parameter remote monitoring devices are used not only by medical professionals but also by the health-conscious population, as sleep and activity monitors fall in these categories.
Asia was the largest region in the patient monitoring devices market in 2015, accounting for $7 billion or 40% of the market share. The Americas was the second largest region accounting for $6 billion or 30% of the market share. Europe was the third largest region accounting for $4 billion or 20% of the market share. The Middle East & Africa was the fourth largest region accounting for $1 billion or 5% of the market share. Oceania was the fifth largest region accounting for $0.3 billion or 2% of the market share.
North America is leading the remote patient monitoring devices market globally, and it is anticipated to dominate the market in the future. There is a growing trend of shifting treatment from hospitals to homes, to reduce hospital bills. The increasing economic burden on hospitals due to a large number of inpatients, coupled with penalties imposed under the Hospital Readmissions Reduction Program formed by the Patient Protection and Affordable Care Act, is resulting in the increased adoption of remote patient monitoring devices in the United States. Furthermore, patients prefer home healthcare due to its cost-effectiveness, privacy, and convenience, thus, boosting the market growth.
The Remote Patient Monitoring System market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Remote Patient Monitoring System Market based on Types are:
Cardiac Monitoring Systems
Hemodynamic Monitoring Systems
Fetal and Neonatal Monitoring Systems
Based on Application, the Global Remote Patient Monitoring System Market is Segmented into:
Regions Are covered By Remote Patient Monitoring System Market Report 2020 To 2026.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
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Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of the Remote Patient Monitoring System Market
-Changing Remote Patient Monitoring System market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Remote Patient Monitoring System market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Remote Patient Monitoring System Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
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