Remote Patient Monitoring Market Outline Analysis:
The market for remote patient monitoring (RPM) observed significant growth in recent years owing to a rise in disposable incomes and increasing demand from an aging population. Availability of technologically superior products, the growing occurrence of chronic conditions, government assistance in many countries and raising awareness about the benefits of remote patient monitoring are the major factors making the demand for these systems. This reduces the number of pressure department visits and the duration of hospitalization. This is connected to the large undiagnosed patient population, increasing access to healthcare systems, and a high risk of increasing chronic disease due to rapid urbanization. In addition, the rise in incidences of chronic diseases, such as diabetes and COPD, are tied for the high growth rate.
Remote patient monitoring is a technology employed to collect medical and health-related data from somebody at one location and electronically send it to a healthcare provider at another location. RPM is used to remotely monitor and investigate physiological parameters such as plasma oxygen levels, vital signs, blood pressure, response rate, and blood sugar, which improves the quality of care, state of life, and allows early prediction of difficulties and exacerbations
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What is the Size of Remote Patient Monitoring Market?
Remote Patient Monitoring Market expected to grow at a CAGR of 17.1% to reach USD 2,131 million by 2025
Remote Patient Monitoring Market Segmentation Analysis:
The remote patient monitoring business has been analyzed through the devices such as Neuromonitoring Systems, Cardiac Monitoring Systems, Hemodynamic Monitoring Systems, Fetal and Neonatal Monitoring Systems Others. The prominent end-users of the market are Hospitals and Clinics, Ambulance, and Homecare.
Remote Patient Monitoring Market Geographic Analysis:
The market would gain traction in the developing countries of Asia-Pacific, Africa, and Latin America. The long undiagnosed patient population, fast urbanization, rise in disposable incomes, enhanced government funding towards healthcare, an increase in awareness about RPM technologies are important factors that constitute the constant market growth in these regions. Nevertheless, there would be driving concerns related to the cost of technologies, particularly in third-world countries and in developing countries, such as India and China.
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The key players covered in Remote Patient Monitoring Market are: Boston Scientific Corporation Biotronik SE & Co. KG, Masimo Corporation, Abbott Laboratories, General Electric Company, Nihon Kohden Corporation, Medtronic Plc, Johnson and Johnson and Omron Corporation. Other players in the RPM market include Limited, Aipermon GmbH & Co. KG, A&D Company, Jawbone, Docobo Ltd., SHL Telemedicine, Microlife Corporation, Schiller AG, and Sorin Group.
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