Remote Patient Monitoring System Market is expected to display a steady growth by 2027|CAGR: 18%| UnivDatos Market Insights
NOIDA, India, July 20, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights the Remote Patient Monitoring System Market is expected to grow at a CAGR of around 18% from 2021-2027. The analysis has been segmented into Product (Vital Sign Monitors and Specialized Monitors); Distribution Channel (Diabetes, Cardiovascular Diseases, Sleep Disorders, Weight Management & Fitness Tracking, and Other Applications); End-User (Hospitals/Clinics, Home Care Settings, and Others); Region/Country.
Click here to view the Report Description & TOC
The remote patient monitoring system market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the remote patient monitoring system market. The remote patient monitoring system market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the remote patient monitoring system market at the global and regional levels.
Market Overview
The remote patient monitoring system is a subclass of telehealth that is designed to deliver healthcare services at the distance. These are typically medical devices deployed at home that transmits vital signs through a data hub, or a desktop console. The data is stored via server-side systems which are then eventually retrieved by caregivers and providers. The remote patient monitoring system enables the patients to manage various chronic diseases and infectious diseases. They support patients' healthcare journey and provide patients' health data to clinicians and caregivers enabling them to personalize their treatment and meet all the patient's needs to avoid any complications. In addition to this, it also enables patients to take control of their care alongside the physicians and caregivers.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The worldwide adoption of virtual and home care health technologies owing to the number of canceled appointments and deferred care amidst the novel coronavirus outbreak has further augmented the worldwide demand for the remote patient monitoring system. For instance, according to the study conducted by American Hospital Association, 4 in 10 adults in the United States deferred their medical treatments and routine checkup due to the COVID-19 pandemic.
The global remote patient monitoring system market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on the product, the market is divided into vital sign monitors and specialized monitors. The vital sign monitors are further segmented into temperature monitor, blood pressure monitor, pulse oximeter, heart rate monitor, respiratory rate monitor, and brain monitor. Among these, the specialized monitor segment holds a major share in the market owing to its ability to monitor important parameters to prevent complications before and after any surgical procedures. However, the vital sign monitors segment is anticipated to grow substantially in the projected timeframe due to the rising awareness of the benefits offered by their regular usage
- Based on application, the market has been segmented into diabetes, cardiovascular diseases, sleep disorders, weight management & fitness tracking, and other applications. The diabetes segment held the largest market share of this market owing to the growing prevalence of the diabetic population all over the world. Furthermore, as per World Health Organization, nearly 422 million people across the globe have diabetes, particularly in low and middle-income countries.
Remote Patient Monitoring System Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of the Europe)
- Asia-Pacific (China, Japan, India, and Rest of the APAC)
- Rest of the World
For a better understanding of the market dynamics of the remote patient monitoring system market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), and Rest of World. Among the regions, North America dominated the market in 2020 owing to the government support for advanced research and development in the field of telehealth solutions and increasing awareness regarding the benefits offered by them. Furthermore, The surging demand for remote patient monitoring systems is due to the growing geriatric population and rise in chronic disease incidences across the region.
The major players targeting the market include
- Medtronic
- F. Hoffmann-La Roche
- GE Healthcare
- Abbott Laboratories
- Omron Corporation
- Johnson & Johnson
- American Telecare
- Philips Healthcare
- Boston Scientific Corporation
- Biotelemetry, Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, technological innovations, product launches, partnerships, mergers, or acquisitions by leading companies in the remote patient monitoring system market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the remote patient monitoring system market?
- Which factors are influencing the remote patient monitoring system market over the forecast period?
- What are the global challenges, threats, and risks in the remote patient monitoring system market?
- Which factors are propelling and restraining the remote patient monitoring system market?
- What are the demanding global regions of the remote patient monitoring system market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
About UnivDatos Market Insights (UMI)
Browse Other Related Research Reports from UnivDatos Market Insights
- Cardiac Monitoring Market
- Wearable Artificial Organs Market
- Brain Monitoring Market
- Global Respiratory Monitoring Devices Market
- Wearable Medical Device Market
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
Contact :
UnivDatos Market Insights
Ankita Gupta
Director Operations
Ph: +91-7838604911
Email: Ankita.gupta@univdatos.com
Website: https://univdatos.com/
Logo : https://mma.prnewswire.com/media/1225049/UnivDatos_Logo.jpg
Share this article