Remote Patient Monitoring Devices Market to Grow at 14% CAGR through 2020, North America Most Lucrative Market
Adoption of various remote patient monitoring devices has been a welcome change in the healthcare industry. An accelerated shift toward home care and preventive care has led higher acceptance of remote patient monitoring devices.
The global remote patient monitoring devices market is likely to grow at a robust CAGR of over 14% through 2020. Demand for home based healthcare, combined with advancement in the efficacy of remote patient monitoring devices is likely to influence the market during the forecast period. A new research report titled “Remote Patient Monitoring Devices Market (By Types: Heart Monitors, Breath Monitors, Physical Activity Monitors, Hematology Monitors, Body Temperature Monitors, Multi-sign Monitors and Others & By End Users: Home Healthcare and Ambulatory Care Centers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” offers insights and analysis on the future of remote patient monitoring devices market during the assessment period. The report has been added to the comprehensive database of Market Research Reports Search Engine (MRRSE).
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According to the report, the broader trends in the healthcare sector are creating opportunities for remote patient monitoring devices. There has been an increase in the number of geriatric patients who require constant care. There is an increasing preference among geriatric population to receive care in the comfort of their own homes. Owing to this, there has been a steady demand for remote patient monitoring devices among healthcare providers.
Another key development that is likely to fuel the demand for remote patient monitoring devices globally is the constant advancement in the efficiency of remote patient monitoring devices. For a long time, remote patient monitoring devices has limited applications, however, due to wider integration with EHR and other healthcare technologies, they are now playing an important role in administering care remotely.
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The report has segmented the global remote patient monitoring devices on the basis of type into heart monitors, breath monitors, physical activity monitors, hematology monitors, body temperature monitors, and multi-sign monitors. The key end use segments have been broadly segmented into home healthcare and ambulatory care centers. The report also offers detailed region-wise analysis and projects North America to be one of the leading markets for remote patient monitoring devices globally. Demand for remote patient monitoring devices in North America is on account of rising awareness of the benefits of home based care. Also, the US has a large baby boomer population on account of which demand for remote patient monitoring devices is likely to witness an increase. In addition to North America, Asia Pacific is also likely to provide growth opportunities to manufacturers during the forecast period. Increasing emphasis on healthcare services in emerging economies of Asia Pacific is likely to fuel demand during the forecast period.
Some of the leading players profiled in the report include Abbott Laboratories, AMD Global Telemedicine, Covidien plc, Honeywell HomMed LLC, F. Hoffman-La Roche Ltd., and Omron Healthcare Inc
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