An improvement in the healthcare sector in developing nations and advancement in technology, along with support from the government, has driven the demand for the market.
Market Size – USD 786.4 Million in 2019, Market Growth – CAGR of 14.1%, Market Trends –Surge in incidence of coronavirus.
global Remote Patient Monitoring Market is forecast to reach USD 2.14 Billion by 2027, according to a new report by Reports and Data. The market in the past few years has witnessed an increase in demand owing to the growing penetration of the internet and the emergence of advanced technologies in the healthcare sector. Digital health has developed into a successful business, attracting several industries from the outside of healthcare.
Various factors have contributed to the growth of the industry. One of the major drivers for growing demand has been rapid technological advancements in different industries like artificial intelligence, which has, in turn, contributed to the growth of this industry. Apart from technological advancements, applicability, and convenience associated with the use of this service, have also acted as a significant contributing factor for this industry.
Remote patient monitoring provides the service users with the scope of using it from any location resulting in the elimination of geographic barriers associated with cardiac care and associated services. Such benefits related to the use of this service has promoted its rapid acceptance among the end-users as well as the care users. Without artificial intelligence (AI), the industry can provide incremental improvements in efficiency. With AI’s help, there can be an increase in efficiency by a huge magnitude. With AI, RPM has the potential to be a crucial part of the solution to the problem of skyrocketing healthcare costs caused by an aging population.
Request free sample of this research report: @ https://www.reportsanddata.com/sample-enquiry-form/3234
The COVID-19 impact:
The COVID-19 virus pandemic has initiated a seismic wave of health anxiety and awareness, which is triggering a new category of virus-fighting tech. The lockdown to ensure social distancing has surged in the short run and the manufacturers are positive the demand for these products will surge in the long run, especially due to COVID-19. The adoption of market services will particularly witness an increase in remote areas. The support from the government across the globe will propel the market demand as well.
Further key findings from the report suggest
- The remote heart rate monitor gives information on heart rate and sends results to the webserver. From the web, anyone can monitor the physical status of the patient. The system can monitor heart rates from remote places. With tools like the Apple Watch and Fitbit, people are able to monitor vital health data from anywhere in the world.
- The expansion of remote cardiac monitoring has been boosted due to various driving factors. One of the significant reasons for the adoption of this system is the increase in the rate of obesity, which results in cardiovascular diseases [CVD]. Due to the rise in the rate of occurrence of CVD, remote cardiac monitoring services are becoming increasingly relevant for the healthcare sector, which is turning out to be a significant driving factor for this industry.
- A vast majority, approximately 88% of hospitals have invested in remote patient monitoring technologies as part of their transition to a value-based care model. The hospitals are unable to deal with the increasing number of patients suffering from coronavirus, and remote patient monitoring can help doctors monitor more patients as compared otherwise.
- Nearly 1800 hospitals use mobile applications to treat patients. Less than 25% of hospitals in the country currently leverage mobile applications to interact and monitor the patients, whereas more than 80% or 6400 hospitals report using patient portal software. North America dominated the market, with a share of 38.3% in the year 2019.
- Key participants include Abbott Laboratories, GE Healthcare, Omron Corporation, Medtronic PLC, Boston Scientific Corporation, Biotronik SE & Co. KG, Nihon Kohden Corporation, General Electric Company, Masimo Corporation, and Johnson and Johnson, among others.
- ResMed acquired Propeller Health for USD 225 Million. The acquisition will strengthen ResMed’s portfolio into the respiratory care market. Propeller Health company designs remote patient monitoring devices for treating chronic respiratory disease.
Remote Patient Monitoring Market By Product, By Application, And By End-Use, Forecasts To 2027, To identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/remote-patient-monitoring-market
For the purpose of this report, Reports and Data have segmented the global Remote Patient Monitoring Market on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Vital Sign Monitors
- Pulse Oximeters
- Temperature Monitor
- Brain Monitoring (EEG)
- Blood Pressure Monitors
- Heart Rate Monitor (ECG)
- Respiratory Rate Monitor
- Special Monitors
- Blood Glucose Monitors
- Respiratory Monitor
- Anesthesia Monitors
- Cardiac Rhythm Monitor
- Fetal Heart Monitors
- Multi-Parameter Monitors (MPM)
- Prothrombin Monitors
Application Outlook (Revenue, USD Billion; 2017-2027)
- Cardiovascular Diseases
- Sleep Disorders
- Weight management and Fitness Monitoring
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Hospital-based patients
- Home Healthcare
- Ambulatory Patients
Order Now: @ https://www.reportsanddata.com/checkout-form/3234
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Remote Patient Monitoring Market Segmentation & Impact Analysis
4.1. Remote Patient Monitoring Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Advancement in technology
188.8.131.52. Growth in spread of coronavirus
4.2.3. Market restraints analysis
184.108.40.206. High cost
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industry including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Company Name: Reports and Data
Contact Person: John Watson
Email: Send Email
Address:40 Wall St. 28th floor
City: New York City
State: NY 10005
Country: United States