Remote patient monitoring systems market is anticipated to grow at a significant CAGR of 10.5% during the forecast period. The major factor driving the growth of the market is, increasing cases of hypertension which leads to a rising risk of cardiovascular diseases. For instance, According to a report published by World Health Organization (WHO), in August 2021, started that hypertension is a serious medical condition approximately 1.28 billion adults aged between 30-79 years across the globe are having hypertension. Hence, it increases the risks of heart, brain, kidney, and other diseases and approximately 1 in 5 adults (21%) with hypertension are under control between 2010 and 2030 to reduce the prevalence of hypertension by 33%.
Moreover, the rising adoption of smartphone and wearable devices are fueling the remote patient monitoring systems industry. As smartphones are getting cheaper and most of the smartphones nowadays comes with additional sensors which makes it easier for the patients to collect the data. Additionally, wearable technology is rapidly growing with the launch of new devices such as fitness bands, mobile ECG’s and so on. It enables them to provide valuable information about the health of an individual hence fueling the growth of the market.
Remote patient monitoring system is a method that allows patients to use the latest advances such as mobile devices to collect data generated by the patients and then send it to a medical professional for analyzing. Vital signs, weight, blood pressure, and heart rate are the most common types of physiological data that can be collected by remote patient monitoring system. A special telehealth computer is used to send this collected data to the doctor or software applications which can be installed on a smartphone or tablet.
Another factor that is driving the market is string government regulation. Governments across the globe are taking initiatives to control increasing healthcare costs. Additionally, due to the technological advancements and the development of efficient monitoring products is propelling the remote patient monitoring systems market. In the US, a government initiative Obamacare was implemented to impose penalties on the hospitals charging patients more. Further according to the act the government reduced patient readmission cost admitting within 30days after discharge, therefore, increasing the usage of remote patient monitoring systems by the doctors hence contributing to the growth of the market.
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Remote Patient Monitoring Systems Market- Segmentation
By Application
- Cardiovascular Diseases
- Respiratory Diseases
- Cancer
- Diabetes
- Others
By End-user
- Hospitals & Clinics
- Homecare Settings
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Remote Patient Monitoring Systems Market -Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Company Profiles
A&D Co. Ltd.
AT&T Inc.
Abbott Laboratories Inc.
Aerotel Medical Systems Ltd.
Baxter International Inc.
Biotronik SE & Co. KG
Boston Scientific Corp.
Dexcom, Inc.
Docobo Ltd.
General Electric Co.
Honeywell International Inc.
Johnson & Johnson
Koninklijke Philips N.V.
Masimo Corp.
Medtronic PLC
Nihon Kohden Corp.
Omron Healthcare Inc.
ResMed Ltd.
Schiller AG
Senseonics Holdings
Spacelabs Healthcare
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