Wilmington, Delaware, United States, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global remote patient monitoring devices market is prognosticated to reach a value of US$ 3.4 Bn by the end of 2030, as per an analysis by Transparency Market Research (TMR). In addition, the study finds that the market for remote patient monitoring devices is expected to grow at a CAGR of 12.5% during the forecast period, 2020-2030.
Remote patient monitoring devices manufacturers are focusing on the development of compact-sized products. Furthermore, enterprises are strengthening their market positions by using new product launches and partnerships strategies. Such factors, in turn, are expected to lead to significant growth of the global remote patient monitoring devices market in the near future.
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Over the period of past few years, there has been a surge in the understanding pertaining to the importance of integrated primary healthcare services and chronic diseases management globally. Moreover, the artificial dichotomy between various types of diseases is leading to increase in the adoption of a combined approach that can be beneficial for all conditions, state analysts of a TMR study on the global remote patient monitoring devices market.
The healthcare sector of several emerging nations such as India is being expanding at noteworthy pace. Moreover, the spending power of the population in these nations is improving and people are gaining easy access to different healthcare insurance services. This aside, the understanding pertaining to the healthy lifestyle is rising in India. These factors suggest that the remote patient monitoring devices market in Asia Pacific is prognosticated to gain notable growth prospects in the near future.
Remote Patient Monitoring Devices Market: Key Findings
- Due to emergence of different infectious diseases including the coronavirus, the need for varied remote patient monitoring devices is being increasing in order to offer next-gen treatments to such diseases. Hence, rise in the incidences of infectious diseases globally is anticipated to create profitable prospects in the global remote patient monitoring devices market during the forecast period.
- Surge in the emergence and adoption of different types of remote patient monitoring devices globally has resulted into decline in the number of hospital readmissions. This trend is anticipated to boost the demand for such devices, states a TMR analysis of remote patient monitoring devices market.
- The popularity of remote patient monitoring devices is being rising among the older population owing to the ability of these devices to help in monitoring the important health parameters. Hence, rise in the adoption of the home-based care for elder people across developed and developing nations is fueling the market growth, states a TMR analysis that delivers key insights on the trends and growth drivers of remote patient monitoring devices market.
- Companies engaged in the manufacturing of conventional medical devices are gradually focusing on the expansion of their product portfolios in remote patient monitoring devices incorporated with next-gen technologies. For instance, major companies are launching IoT-based remote patient monitoring devices. Such factors are fueling the growth of the global remote patient monitoring devices market.
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Remote Patient Monitoring Devices Market: Growth Boosters
- Rise in the understanding among consumers about the advantages of remote patient monitoring devices is propelling the market growth
- Surge in the focus of government authorities of several nations on advancing public health is expected to help in expansion of the global remote patient monitoring devices market size
Remote Patient Monitoring Devices Market: Key Players
Some of the key players profiled in the report are:
- GE Healthcare
- Koninklijke Philips N.V.
- Omron Healthcare
- Boston Scientific Corporation
- Welch Allyn
- Medtronic Plc.
- Masimo Corporation
- Abbott Laboratories
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Hoffmann-La Roche Ltd.
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Remote Patient Monitoring Devices Market Segmentation
Product
- ital Sign Monitors
- Heart Rate Monitors (ECG)
- Blood Pressure Monitors
- Respiratory Rate Monitors
- Brain Monitoring (EEG)
- Temperature Monitors
- Pulse Oximeters
- Others
- Special Monitors
- Blood Glucose Monitors
- Fetal Heart Monitors
- Multi-Parameter Monitors (MPM)
- Anesthesia Monitors
- Prothrombin Monitors
- Others
Application
- Cardiovascular Diseases
- Diabetes
- Cancer
- Hypertension
- Infections
- Bronchitis
- Dehydration
- Sleep Disorder
- Weight Management & Fitness Monitoring
- Others
End User
- Hospital-based Patients
- Homecare
- Ambulatory Patients
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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