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Global Remote Patient Monitoring and Care Market – Outlook
The persuasive Remote Patient Monitoring and Care marketing report provides CAGR value fluctuation during the forecast period of 2022-2029 for the market. The market report contains a myriad of factors that have an influence on the market and includes industry insight and critical success factors (CSFs), market segmentation and value chain analysis, industry dynamics, drivers, restraints, key opportunities, technology and application outlook, country-level and regional analysis, competitive landscape, company market share analysis, and key company profiles. With the particular base year and the historic year, certain estimations and calculations are performed in this world-class report. Remote Patient Monitoring and Care market research report is a resource, which provides current as well as upcoming technical and financial details of the industry to 2029.
Data Bridge Market Research analyses that the Remote Patient Monitoring and Care market growing at a CAGR of 9.26% during the forecast period. Growing demand for self-monitoring and preventive medicine is expected to open up new market opportunities.
Essential Determinant Factors of Remote Patient Monitoring and Care Market
Remote patient monitoring and care employs a variety of technologies to collect medical data from a single location and securely transmit it to healthcare providers. This type of service allows a provider to continue tracking a patient’s health care data after they are discharged from the hospital or care facility, lowering mortality rates.
In recent years, due to the world’s rapidly growing population and the prevalence of chronic diseases, there has been a growing need to expand healthcare access infrastructure, as well as the cost benefits of telehealth and remote patient monitoring technology. Chronic diseases account for 90 percent of total healthcare costs in the United States each year, according to the Centers for Disease Control and Prevention (CDC). These costs can be significantly reduced by implementing remote patient monitoring systems, which is expected to propel market growth.
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Key Players in the Global Market – Remote Patient Monitoring and Care Market
The remote patient monitoring and care market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to remote patient monitoring and care market.
Some of the major players operating in the remote patient monitoring and care market are Abbott, Aerotel Medical Systems (1998) Ltd., AMD Global Telemedicine, Inc., Baxter., Boston Scientific Corporation, Medtronic, GENERAL ELECTRIC COMPANY, Honeywell International Inc, Omron Healthcare, Inc., Proteus Digital Health, BioTelemetry, Inc., Nihon Kohden Corporation, F. Hoffmann-La Roche Ltd, Koninklijke Philips N.V., AMC Health, Biotronik, among others.
SWOT analysis has been performed while formulating the winning global Remote Patient Monitoring and Care market report along with many other standard steps of researching, analyzing, and collecting data. This report is formulated by considering several steps which can be summarised as follows. 1. Create a title page 2. Affix a table of contents 3. Abridge the report in the executive summary 4. Write an introduction 5. Write the qualitative research segment of the body 6. Write the survey research section of the body 7. Summarize the types of data used in drawing conclusions 8. Share findings based on research 9. State conclusions and call the reader to action.
Global Market Analysis – Segmentation – Remote Patient Monitoring and Care Market
The remote patient monitoring and care market is segmented on the basis of devices, applications and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Devices Vital Signs Monitor Glucose Monitor Blood Pressure Monitor Blood Pressure Monitor Heart Rate Monitor Respiratory Monitor Haematology Monitors Multi-Parameter Monitors Breath Monitors Others On the basis of devices, the remote patient monitoring and care market is segmented into vital signs monitor, glucose monitor, blood pressure monitor, blood pressure monitor, heart rate monitor, respiratory monitor, haematology monitors, multi-parameter monitors, breath monitors and others.
Application Cancer Treatment Cardiovascular Diseases Diabetes Treatment Sleep Disorders Weight Management Fitness Monitoring The application segment of the remote patient monitoring and care market is divided into cancer treatment, cardiovascular diseases, diabetes treatment, sleep disorders, weight management & fitness monitoring and others.
End User Home Care Setting Clinics Long Term Care Centers Hospitals On the basis of end- users, the remote patient monitoring and care market is divided into home care setting, clinics, long term care centres and hospitals.
Remote Patient Monitoring and Care Market Dynamics
Drivers Wearable patient monitoring devices are becoming increasingly popular. Wearable patient monitoring devices, biosensors, and smart implants are used for a variety of purposes, including continuous glucose monitoring, temperature monitoring, blood pressure monitoring, and pulse oximetry. The Internet of Things technology is built into next-generation wearable devices. Wearable biosensors measure vital signs such as blood pressure, weight, blood sugar, and electrocardiography (ECG), which are then transmitted to a central server via mobile wireless networks.
Quality healthcare at home RPM technologies enter the picture, detecting small changes in the patient’s physiological data and encouraging self-monitoring. As a result, it reduces readmissions and avoidable hospitalizations. Furthermore, these technologies reduce the number of unnecessary trips to the doctor’s office as well as the travel-related expenses required to receive quality medical care. RPM technologies, when properly implemented, can increase access to quality healthcare while saving time and money in the short and long term.
Opportunities In recent years, rising healthcare costs, particularly in hospital settings, have shifted attention to alternative methods of treatment, such as home healthcare. As a result, there is an increased demand for effective home-use devices such as thermometers, pulse oximeters, weight scales, ECG monitors, event monitors, EEG recorders, and foetal monitors. The current healthcare system’s sustainability is a major source of concern for governments all over the world.
Restraints/Challenges Shortages of healthcare industry professionals, as well as unfavourable reimbursement policies, are expected to impede market growth during the forecast period.
This remote patient monitoring and care market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Remote Patient Monitoring and Care market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Remote Patient Monitoring and Care Market
As a result of the pandemic, access to customers to sell and implement patient monitoring devices (such as neuromonitoring devices and weight monitoring devices) decreased during March 2020 and throughout the second quarter of 2020, as hospitals became primarily focused on the COVID-19 pandemic. Because of the pandemic, there has been a significant increase in demand for remote monitoring and patient engagement solutions. COVID-19 has resulted in a significant increase in demand for patient monitoring systems, with manufacturers increasingly focusing on expanding production to meet the growing demand for respiratory monitoring devices, multi-parameter monitoring devices, blood glucose monitoring devices, cardiac monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, and fetal/neonatal monitoring devices. Furthermore, the market for neuromonitoring devices is expected to recover its losses in the near future.
Recent Development Philips and BioIntelliSense announced a strategic collaboration in July 2020 to improve remote patient monitoring solutions. Philips incorporated the latter’s BioSticker device into its portfolio of remote patient monitoring (RPM) devices, which monitor chronic conditions. BioTelemetry acquired the On.Demand remote patient monitoring (RPM) platform operated by Envolve People Care Inc., a Centene Corporation subsidiary, in July 2020. This acquisition adds chronic remote patient monitoring solutions to BioTelemetry’s current portfolio of acute care connected health products and services, with a focus on diabetes, hypertension, and chronic heart failure.
Regional Market Analysis – Remote Patient Monitoring and Care Market
The remote patient monitoring and care market is analysed and market size insights and trends are provided by country, devices, applications and end-users.as referenced above.
The countries covered in the remote patient monitoring and care market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the remote patient monitoring and care market from 2022 to 2029, owing to a growing trend of home-based treatment to reduce hospital bills and an increase in chronic disease cases in the region.
Asia-Pacific is expected to grow significantly due to rising healthcare expenditure and disposable income.
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The Remote Patient Monitoring and Care Market Report gives answers to the following questions:
Key Pointers Covered in Remote Patient Monitoring and Care Market Industry Trends and Forecast to 2029 Market Size Market Standards and Changes Market Trials in Different Regions Market Requirements in Different Regions Market Shares in Different Regions Recent Developments for Market Competitors Recent Market Value for Different Regions Sales Data for Market Competitors Key Vendors and Disruptors Study Supply Chain Competiveness Value Chain Analysis
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Research Methodology: Global Remote Patient Monitoring and Care Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Expert Analysis, Import/Export Analysis, Pricing Analysis, Production Consumption Analysis, Climate Chain Scenario, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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