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(Medical-NewsWire.com, December 24, 2019 ) Market Overview
• The Global Remote Patient Monitoring Market was valued at USD 557 million in 2017 growing at a CAGR of 10%. The research at DMI yielded diverse opinions about the market with the global Remote Patient Monitoring market forecast valuation pegged at USD xx million by 2026.
• Remote Patient Monitoring (RPM) facilitates clinicians to monitor vital health indicators of a patient over long distances. It involves the use of devices such as sensors and detectors to measure vital signs and transmit the data to the clinician.
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• The Remote Patient Monitoring market is expected to grow due to the continuous increase in the number of patients suffering from chronic diseases such as cardiovascular disease and diabetes.
• Reduction in clinic visit time and associated hospital healthcare cost is another significant factor contributing to market growth. However, concern regarding security and privacy issues related to health data is a substantial barrier to market growth.
• The market focus is shifting towards developing easy-to-use monitoring devices with layered data security.
• The comprehensive Remote Patient Monitoring market report segments the market by product type, by application, by end-user, and by region. Depending on the indication for which the remote monitoring device is being used, the market is segmented into – Cardiovascular disease, Diabetes, Hypertension, Sleep apnea, Respiratory disorders.
• By product type, the market critical to cardiac monitors, respiratory monitors, hematology monitors, and vital signs monitors.
• Cardiac monitors account for the largest market share in the global remote patient monitoring market due to the continuous rise in some patients with cardiovascular diseases, which is the leading cause of death worldwide.
• According to WHO, an estimated 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all global deaths. Using cardiac monitors can help prevent cardiac failure and could, therefore, reduce the number of deaths from cardiovascular diseases.
• Geographically, the market is segmented into five major regions, namely North America, South America, Europe, Asia Pacific, and RoW. The market is dominated by North America, with the US being the largest market in this region.
• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• The report also profiles the following companies, which take a significant part of the global Remote Patient Monitoring market share including Aerotel Medical Systems, Biotronik, Boston Scientific Corporation, General Electric Company, Medtronic, Abbott Laboratories, and Omron Corporation.
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