ALBANY, N.Y., Oct. 7, 2020 /PRNewswire/ -- From 2020 to 2030, the global remote patient monitoring devices market will record a stellar growth rate of about 12.5%, compounded annually. It will add notably to market worth. It is pertinent to note here that in the year 2019, valuation was pegged at USD 0.8 billion. By 2030, the market will touch mark of USD 3.4 billion.
As per Transparency Market Research, "The robust CAGR will lead to creation and availability of a string of profitable growth opportunities in the vendor landscape. Factors such as rapidly ageing population across the world, increasing incidence and prevalence of chronic diseases, and technological advancement will help the market record growth."
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Key Findings of Global Remote Patient Monitoring Devices Market Study:
- Product-wise, heart rate monitors (ECG) segment accounts for a sizeable market share and over the forecast period it will expand at a notable pace
- On the basis of application, cardiovascular segment holds significant share of global remote patient monitoring devices market
- Under the end-user category, hospital-based patients segment is a prominent growth propeller
For a detailed analysis of global remote patient monitoring devices market by product, end-user, and region, visit TOC at https://www.transparencymarketresearch.com/report-toc/401
Key Drivers of Growth in Global Remote Patient Monitoring Devices Market:
- Improvement in healthcare systems and growing focus on betterment in medical outcomes is set to drive the global remote patient monitoring devices market forward
- Rapidly ageing population, coupled with increase in incidence of chronic illnesses is anticipated to drive the market on an upward growth trajectory
- Advancement in technology is paving way for growth in the global remote patient monitoring devices market over the forecast period
Regional Analysis of Global Remote Patient Monitoring Devices Market:
- North America is anticipated to account for a high revenue share in the global market owing to presence of strong players and pronounced ageing of regional population
- Increasing awareness and prevalence of chronic diseases are also growth propellers over the forecast period
- Asia Pacific (APAC) region will be a lucrative market and will grow at a decent pace from 2020 to 2030
Analyze global remote patient monitoring devices market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample.php
Competitive Analysis of Global Remote Patient Monitoring Devices Market:
Transparency Market Research (TMR) has deep dived into the competitive landscape of global remote patient monitoring devices market over the forecast period to provide granular information regarding growth dynamics. It notes that vendor landscape of the market is moderately fragmented and quite competitive. The TMR report delineates information on company overview, product portfolio, financial overview, and recent developments.
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Players that have left a mark on the global remote patient monitoring devices market and are active and aggressive as far as claiming revenue share is concerned include Koninklijke Philips N.V., GE Healthcare, Boston Scientific Corporation, Omron Healthcare, Medtronic Plc., Welch Allyn, Abbott Laboratories, Masimo Corporation, Hoffmann-La Roche Ltd., and Shenzhen Mindray Bio-Medical Electronics Co., Ltd., among others.
It is quite pertinent to note here that leading players are making use of strategies that revolve around improvement in technology and innovation. Alliances and product development are other strategies that pave way for growth.
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Global Remote Patient Monitoring Devices Market: Segmentation
Remote Patient Monitoring Devices Market, by Product
- Vital Sign Monitors
- Heart Rate Monitors (ECG)
- Blood Pressure Monitors
- Respiratory Rate Monitors
- Brain Monitoring (EEG)
- Temperature Monitors
- Pulse Oximeters
- Special Monitors
- Blood Glucose Monitors
- Fetal Heart Monitors
- Multi-Parameter Monitors (MPM)
- Anesthesia Monitors
- Prothrombin Monitors
Remote Patient Monitoring Devices Market, by Application
- Cardiovascular Diseases
- Sleep Disorder
- Weight Management & Fitness Monitoring
Remote Patient Monitoring Devices Market, by End User
- Hospital-based Patients
- Ambulatory Patients
Remote Patient Monitoring Devices Market, by Region
- North America
- Rest of the Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Vital Signs Monitoring Systems Market: The growing prevalence of chronic diseases worldwide, surge in the geriatric population, and favorable reimbursement policies are some of the leading factors that are expected to boost the growth of the vital signs monitoring systems market during the forecast period. Thus, the global vital signs monitoring systems market is expected to reach a value of ~US$ 11.8 Bn by the end of 2027
Refurbished Medical Equipment Market: The global refurbished medical equipment market was valued at ~US$ 8 Bn in 2018 and is projected to expand at a high CAGR from 2019 to 2027. Rise in prevalence of various chronic conditions, stringent regulatory scenarios for refurbished medical equipment, favorable reimbursement policies; rising mergers & acquisitions; and presence of key players, especially in developing countries, are anticipated to propel the market
Wearable Medical Devices Market: The global wearable medical devices market was valued at approximately US$ 6.8 Bn in 2017 and is anticipated to reach a value of approximately US$ 29.6 Bn by 2026, expanding at a CAGR of 17.7% from 2018 to 2026. The market is driven by the rise in prevalence of chronic pain, increase in diabetic population, increase in the geriatric population, and a surge in the rate of adoption of technologically advanced wearable medical products.
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