Report Description
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:
Definition
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.
Market Drivers
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.
Market Restraints
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.
Opportunities
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.
Trends
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.
Segment Covered:
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
q Devices
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 BioTelemetry
q Medtronic
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.
Report Highlights:
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.
BioTelemetry
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.
Salient Features:
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 participants