A recent market intelligence report that is published by Data Insights Partner on the global Remote Patients Monitoring Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Remote Patients Monitoring Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Remote Patients Monitoring Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Remote Patients Monitoring Market is offered. In accordance with the report, the global Remote Patients Monitoring Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Remote patient monitoring is a technology-based, patient monitoring system outskirts of the conventional clinical setup like remote area or home. These systems improve the accessibility to quality care and reduces expenditure. The incorporation of remote patient monitoring systems in the management of chronic diseases will improve the patient’s living standard, their independence, prevents the happening of complications and curb personal expenditure of the patient. Capability of remote monitoring, analysis of trends in physiological parameters, and real-time deterioration detection are some of the chief features of Remote Patient monitoring systems.
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The convenience associated with the utilization of remote patient monitoring by the patients is primarily driving its market. It plays a pivotal role in identifying minute changes in the patient’s physiology and helps in self-monitoring. This in turn reduces the frequency of being hospitalized. This device also assists in reducing the number of visits to doctor’s chamber and other travel-based expenditures. These devices can be properly implemented by all age groups at home to obtain quality care. It is also portable so that the patient can carry it with themselves. The craze for reducing expenditure, save time and receive quality care without delay of time is fueling the growth of this market.
The soaring population and the widespread sufferance from chronic diseases and the surging aging people in the population is thriving the growth of this market.
The advancement in technology and its implementation on medical science coupled with the thriving healthcare infrastructure is boosting the development of remote patients monitoring systems including capacity builders, trusted builders, progress tracking, caregiver integrators, and early warning systems.
Further, the supportive policies and programs of the government of different nations in this market is propelling the growth of this market. For instance, California-based organization, Centre for Technology and Aging committed the implementation of technological advancement on remote patient monitoring system aimed at maintaining a healthier and independent lifestyle. These factors are positively influencing the remote patient monitoring market.
The lack of privacy of patient’s data is impeding the growth of this market. Moreover, the incidences of health care fraudulent practices in the context of telehealth and telemedicine practices for example false claiming events is hindering the growth of this market.
The unwillingness of the physicians, patients and medical professionals to adopt advance medical treatment facilities and give up conventional medical treatment systems is retarding the growth of this market.
Hard and fast directives of the regulatory board coupled with the deficiency of exact policies for reimbursement is hampering the growth of the remote patients monitoring market.
The soaring population suffering from geriatric diseases and the increasing burden and pressure on the health care sector is likely to incline them towards the transition from traditional treatment methods to the utilization of remote patient monitoring systems and provide good scope for this market.
Further, technological advancement at a lightening speed and its implementation on the medical science and the booming health infrastructure is like to provide lucrative opportunities to the remote patients monitoring market.
According to an estimation by 2019, North America followed by Europe accounts to be the leaders in market share. North America is expected to witness significant market growth in the forecast period. This can be traced back to the ever-increasing population suffering from chronic diseases, the transitioning in treatment procedures from healthcare centers to home-based systems, soaring demand for portable and wireless health care systems, and the presence of sophisticated structure for reimbursement. The progress showcased by Europe is expected to be the effect of rising mortality and morbidity rates, the craze for low-cost in-house health monitoring and treating systems, and better management systems of central data.
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This market intelligence report on the global Remote Patients Monitoring Market encompasses market segments based on product type, end user and country.
By Product Type the global Remote Patients Monitoring Market has been divided into:
q Services and Software
o Weight Monitoring Devices
o Fetal and Neonatal Monitoring Devices
o Blood Glucose Monitoring Devices
o Multiparameter Monitoring Devices
o Respiratory Monitoring Devices
o Neurological Monitoring Devices
o Cardiac Monitoring Devices
By End Use the global Remote Patients Monitoring Market has been divided into:
q Hospital Based Patients
q Ambulatory Patients
q Home Healthcare
By country/region, the global Remote Patients Monitoring Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q KoninkLijke Philips N.v.
q Abbott Laboratories
q GE Healthcare
q Cerner Corporation
q OMRON Healthcare
q Siemens Healthineers AG
q Boston Scientific Corporation
q Teladoc Health Inc
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Remote Patients Monitoring Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Koninklijke Philips N.V.
In June 2020, Avalon CL Fetal and Maternal Pod and Patch was launched by Koninklijke Philips N.V. in Singapore, New Zealand, Australia, Europe, US for supporting Fetal & maternal monitoring.
In July 2020, On.Demand RPM and coaching platform under the operation of Envolve People care, a subsidiary of Centene Corporation was acquired by BioTelemetry.
Ø This study offers comprehensive yet detailed analysis of the Remote Patients Monitoring Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Remote Patients Monitoring Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Remote Patients Monitoring caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Remote Patients Monitoring Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Remote Patients Monitoring Market
v Identification of key factors driving investment opportunities in the Remote Patients Monitoring Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participant
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