Increased Technological Developments and Rising Awareness of Lifestyle Disorders to Drive Global Remote Patient Monitoring Devices Market

The global remote patient monitoring devices market is expected grow substantially with massive support of various government policies to improve healthcare delivery, reduce costs, and ensure better patient care. Remote patient monitoring devices have been widely used due to crucial advantages such as reduced cost for patients, data recording for prolonged periods, and reduction in hospital visits. Furthermore, these devices also reduce waiting time in hospitals and allow medical assistants to track a patient’s record from multiple locations. Remote patient monitoring devices can also remotely track and analyze physiological parameters such as vital signs, heart rate, blood oxygen levels, blood pressure, and blood sugar, which helps improve one’s overall health and allows early prediction of exacerbations. 

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Which are the key factors driving the global remote patient monitoring devices market?

Rapid technological advancements occurring in the global remote patient monitoring devices market is likely to promote the market with better healthcare services. Remote patient monitoring devices market is anticipated to grow substantially due to rising population base, increasing incidents of cardiovascular devices, and the growing demand for healthy living. Additionally, increase in demand for electronic health record is anticipated to boost the remote patient monitoring devices market. Remote patient monitoring devices prevents avoidable hospitalization, which saves time and money.

Despite the financial constraints and economic uncertainty that have affected many other medical devices markets, remote patient monitoring devices market will remain in high demand. Other factors driving market growth include developing nation’s activities for bettering health care services and rising awareness about disease self-monitoring. 

Which are the key segments of the global remote patient monitoring devices market?

The global remote monitoring devices market is fragmented into Asia Pacific, Europe, Middle East and Africa, North America, and Latin America. Among segments, North America accounted for major shares of the remote monitoring devices market, owing to the increasing demand for technological advanced products. Asia Pacific region is anticipated to have high growth opportunity due to increasing demand of effective health care solutions in the emerging economies such as India and China.

The rise in demand for independent living by major population and availability of medical devices are crucial factors driving the market in developing countries. Europe and Latin America are also likely to influence the global remote patient monitoring devices market with the presence of strong government initiatives to enhance healthcare infrastructure.

Which are the major players leading market for remote patient monitoring devices?

The global remote patient monitoring devices market is classified as many local market players giving strong competition to global players. Additionally, presence of required medical resources allowing new manufacturers to enter the market for remote patient monitoring devices. Leading market players are focusing on improving healthcare services through continuous research and development activities. Market players are introducing technological advancements to their product portfolio in order to strengthen their market position and to increase total market share.

Some of the leading players driving the global remote patient monitoring devices market are LifeWatch AG, Omron Healthcare Inc., AliveCor, Inc., BioTelemetry, Inc., Roche, Philips, Welch Allyn, American Telecare, Honeywell, and Biotronik. 

Masimo, one of the market leader in remote monitoring solutions, on May 19, 2017, announced the full market release of Early Warning Score (EWS), which is related to root patient monitoring and connectivity hub. EWS collects information from clinical observations and vital signs in order to calculate the potential of patient deterioration. This new system version will help medical experts to generate accurate medical reports and detect patient’s health issues in early stages.

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