Remote Patient Monitoring Devices Market Scope
Remote patient monitoring device, a type of ambulatory healthcare that are used for the purpose of managing and monitoring a wide array of health conditions by using mobile medical device and send the test data to the healthcare professional in real-time. The surging use of smartphones is leading to the rise in the development of applications that are connected to the monitoring device being used. The aim of the key players in the very market is to offers remote patient monitoring devices is to provide better chronic care management while keeping the cost down.
According to AMA, the Global Remote Patient Monitoring Devices market is expected to see growth rate of 14.7% and may see market size of USD900.1 Million by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Remote Patient Monitoring Devices market throughout the predicted period.
Biotronik (Germany), Boston Scientific Corporation (United States), CAS Medical Systems (United States), Abbott Laboratories (United States), Dragerwerk (Germany), GE Healthcare (United States), Medtronic (Ireland), Mindray Medical (China), Nihon Kohden (Japan), Philips Healthcare (Netherlands), Spacelabs Healthcare (United States) and St. Jude Medical (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are BioTelemetry Inc. (United States), F. Hoffmann-La Roche Ltd (Switzerland), CONTEC MEDICAL (China), Aerotel Medical Systems Ltd. (Israel) and Smiths Medical (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Remote Patient Monitoring Devices market by Type (Vital Sign Monitors, Blood Pressure Monitor, Pulse Oximeters, Heart Rate Monitor (ECG), Temperature Monitor, Respiratory Rate Monitor, Brain Monitor (EEG) and Others), by Application (Cancer Treatment, Cardiovascular Diseases Treatment, Diabetes Treatment, Sleep Disorder Treatment and Weight Management and Fitness Monitoring) and Region with country level break-up.
On the basis of geography, the market of Remote Patient Monitoring Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Key Players are Focusing on Layered Data Security and Device Management Solution
- Rise in Telemedicine Approach Incorporating Remote Patient Monitoring
Market Drivers
- Availability of Wireless Monitoring Devices
- Rising Incidence of Lifestyle and Chronic Diseases
Opportunities
- Growing Demand for Patient Monitoring Devices in Non-Hospital Settings
- Increasing Geriatric Patient Base and Swelling Healthcare Expense in Developed Economies
Restraints
- Lack of Standardisation Among Devices
- Lack of Privacy and Security of Data
Challenges
- Risks Associated With Invasive Monitoring Devices
Key Target Audience
Product Manufacturers, Vendors/Service Providers, Healthcare Service Providers, Medical Device Companies, Medical Software Providers, Diagnostic Centers, Research Institutions and Others