About Remote Patient Monitoring
Remote patient monitoring is a branch of telemedicine that focuses on providing healthcare services to patients with chronic diseases in their homes. Caregivers can use the remote interface to gather patient data. The highest market demand for remote patient monitoring is for cardiac procedures; they are also used to monitor diseases such as respiratory disorders, diabetes, mental illness, and cardiovascular diseases and blood pressure, thereby driving market growth.
The analysts forecast the global remote patient monitoring market to grow at a CAGR of 15.30% during the period 2017-2021.
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HTF Market recognizes the following companies as the key players in the global remote patient monitoring market: Medtronic, Boston Scientific, Abbott, Koninklijke Philips, and GE Healthcare.
Other Prominent Vendors in the market are: Aerotel Medical Systems, Honeywell HomMed, Masimo, Nihon Kohden, Microlife Corporation, Napier Healthcare, Dexcom, ResMed, mTelehealth, CareTaker Medical, VitalSignals Enterprises, and Ostar Healthcare Technology.
Commenting on the report, an analyst from HTF team said: “One trend in the market is paradigm shift toward home-based healthcare. Home-based healthcare is the trend that increases the demand for remote patient monitoring due to compatibility, portability, accuracy, and user-friendly digital operative methods. Vendors are focusing on developing portable medical devices such as continuous glucose monitoring devices and blood pressure monitors that patients can easily use at home.”
According to the report, one driver in the market is increasing consumer trend toward online medical purchase. Vendors have been increasing online marketing and promotional activities to provide better accessibility to their products and gain more product sales. Online marketing services allow vendors to minimize setup, distribution, and operational costs, thereby reducing overheads. Many small and large vendors sell remote patient monitoring devices and accessories online. They also provide discounts and promotional offers online, which increases the number of online purchases.
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Further, the report states that one challenge in the market is high cost of monitoring devices and procedures. Most remote patient monitors are expensive, especially in developing countries. The high cost of these devices and the related software is another key challenge that is hampering the growth of the market. The average cost of implantable cardiac monitors is between $3,500-$6,000, and the procedure cost is around $8,000. This is a huge cost burden on individuals in need of them. Moreover, these devices are not implanted for a lifetime; their longevity is a maximum of six to eight years, after which they are either removed or replaced through a second surgery, thereby creating extra expenses for patients.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report,
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
• Market outline
PART 05: Market landscape
• Market overview
• Market size and forecast
• Five forces analysis
PART 06: Market segmentation by product
• Market Overview
• Global vital signs remote patient monitoring market
• Global implantable remote patient monitoring market
PART 07: Market segmentation by application
• Cardiovascular diseases and blood pressure
• Respiratory disorders
• Mental illness
PART 08: Market segmentation by end-user
• Hospitals and clinics
• Home care settings
PART 09: Geographical segmentation
• Remote patient monitoring market in Americas
• Remote patient monitoring market in EMEA
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