The remote patient monitoring market is expected to reach US$31.326 billion by the end of 2023, increasing from US$15.871 billion in 2017, growing at a CAGR of 12% during the forecast period. Remote patient monitoring makes use of digital technologies to collect medical and various other forms of health data and transmit them to a healthcare provider. The data can be collected at patient’s residence, thus avoiding the nursing and hospitalization cost. The market for remote patient monitoring witnessed significant growth in recent years owing to rise in disposable incomes and increasing demand from an ageing population. Availability of technologically advanced products, the budding prevalence of chronic diseases, government support in various countries and rising awareness regarding the benefits of remote patient monitoring are the major factors driving the demand for these systems. Asia- Pacific is expected to witness significant growth over the projected period, attributable to rising healthcare expenditure and an increase in disposable income over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Qualcomm Life, Inc., OSI Systems, Inc., Philips Healthcare, Abbott Laboratories and GE Healthcare among others.
The remote patient monitoring market has been analyzed through following segments:
Vital Signs Monitor
Blood Pressure Monitor
Heart Rate Monitors
By End User
Hospitals and Clinics
Middle East and Africa