Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Remote Patient Monitoring market is emerging due to the growing old population and emerging medical expenditure
The Global Remote Patient Monitoring market will grow with USD 2.7 billion at fueling CAGR in the forecast period from 2020-2027. With the emerging population of old adults, rising prevalence of chronic diseases and technology advancement has fueled the market share of remote patient monitoring market.
The integration of automation with the healthcare industry has improved medical device usage. The remote patient monitoring helps in monitoring the patient through telemedicine. The RPM reduces the cost of medical services and saves time for visiting doctors.
Moreover, the remote patient monitoring system automatically collects vital signs data and provides remote medical services, thereby monitoring the patient's gaps between visits and improving the effectiveness of family visits. Also, it allows nurses to monitor and collect patient vital signs data through networked devices, which helps nursing homes provide timely care services.
Furthermore, the remote patient monitoring system has a population health management function, which helps reduce risks and claims, retain patients, and promote active disease management. Thus, the market share of the global remote patient monitoring market will bolster its demand in the future as well.
Type of Device overview in the Global remote patient monitoring Market
Based on the type of device, the global remote patient monitoring market segmented into Heart Monitors, Breath Monitors, Hematology Monitors, Multi-Parameter Monitors. The heart monitors segment has captured the highest market value in the worldwide remote patient monitoring market in the forecast period from 2020-2027. The emerging cases of chronic heart diseases among the geriatric population and the remote patient monitoring market can identify the symptoms of heart attack will fuel the market share of the global remote patient monitoring market.
Application overview in the Global remote patient monitoring Market
Based on the Application, the global remote patient monitoring market classified into Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Monitoring & Fitness Monitoring, Other. The cardiovascular disease segment has dominated the market share of the worldwide remote patient monitoring market. The remote patient monitoring device uses to monitor the weight management and other health function of the patient to reduce the chances of cardiac arrest. The RPM monitor the heart rate, blood pressure, and other service and send reports via wireless connections.
End-use overview in the Global remote patient monitoring Market
Based on the End-use, the global remote patient monitoring market attributed to Home Care Settings, Clinics, Hospitals. The home care settings will capture the largest share in the global remote patient monitoring market. The prevalence of the old age population increases the chances of cardiac diseases and other chronic diseases. Therefore, remote patient monitoring devices are used in-home care for monitoring the patient in case of emergency, and it also reduces cost and saves time for visiting doctors.
Region Overview in the Global remote patient monitoring Market
Based on geography, the global remote patient monitoring market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe region will be expecting to witness the highest growth during the forecast period from 2020-2027. To reduce the medical expenditure integrates the functions and operations of medical care and improves the medical treatment of the patient are fueling the market demand for the global remote monitoring market in Europe.
Global remote patient monitoring Market: Competitive Landscape
Companies such as Honeywell, American Telecare, Roche, Philips Healthcare, Bosch, Biotronik, Intel, Welch Allyn, Health anywhere Inc., Johnson & Johnson, and Covidien Plc and other key players in the global remote patient monitoring market.