Remote Patient Monitoring Devices Market

Remote Patient Monitoring Devices Market to be boosted by Geriatric Population

Healthcare

With the population aged 65 and above growing at a rapid rate, remote patient monitoring devices ought to be inevitable. As such, unnecessary visits to hospitals could be averted. Hospital admissions and readmissions could also be done cautiously. 

At the same time, the possibility of healthcare fraud couldn’t be ruled out, especially in telemedicine and telehealth practices. There are several ways in which a physician or patient could be victimized. For example – the name and account of a physician could be made use of for receiving payments from insurance companies, or non-listed/non-eligible institutional providers could go for improper codding, and, in turn, improper billing to produce false claims. 

Also, new practices could prove to be a challenge to physicians and patients alike initially. This difficulty to cope up may act as another restraint to Remote Patient Monitoring Devices Market. Persistence Market Research has given these details with subsequent measures in its latest market study entitled “Remote Patient Monitoring Devices Market”.

Remote Patient Monitoring Devices Market Dispersion

The global remote patient monitoring devices market, by product, spans vital sign monitors (Blood Pressure Monitors, Pulse Oximeters, ECG (Heart Rate Monitor), Temperature Monitor, Respiratory Rate Monitor, EEG (Brain Monitoring)), specialized monitors (anesthesia monitors, blood glucose monitors, cardiac rhythm monitor, respiratory monitor, fetal heart monitors, prothrombin monitors, Multi-Parameter Monitors (MPM), and likewise. By application, it’s cardiovascular diseases, cancer, diabetes, sleep disorder, weight management and fitness monitoring, bronchitis, infections, virus, dehydration, and hypertension. By end-use, it’s home healthcare, ambulatory patients, and hospital-based patients. 

Out of these, diabetes holds the largest market share by application, followed by hypertension. By product, it’s the specialized monitors ruling the roost. Persistence Market Research has highlighted these findings with insights in its latest market study entitled “Remote Patient Monitoring Devices Market”.

Region-wise Sneak Peek

North America holds the largest market share. It holds over 40% of the market share. This could be attributed to the growing incidences of chronic diseases along with an exorbitant demand for portable and wireless systems. Europe stands second due to the rising demand for supportive central data management systems, in-house monitoring, and the growing efficiency and precision of remote patient monitors. However, the Asia-Pacific is expected to grow at the fastest pace in the remote patient monitoring devices market due to countries like Japan housing the majority of people aged 65 and above. India and China are also not behind. Persistence Market Research has, with its line of expertise in the form of analysts and consultants, has entailed these facts with probable calls to action in its latest market study entitled “Remote Patient Monitoring Devices Market”.

At the Doorstep of Competition

Persistence Market Research has profiled the key players in the remote patient monitoring devices market as Boston Scientific Corporation, Koninklijke Philips N.V., Abbott Laboratories, Nihon Kohden Corporation, F. Hoffmann-La Roche Ltd., LifeWatch AG, Medtronic, St. Jude Medical, and likewise. It has gone further with mentioning about the developments in this regard. For instance – Philips, in the year 2020, did table Avalon CL Fetal along with Maternal Pod and Patch to enable remote monitoring of fetuses all across Europe, the US, New Zealand, Australia, and Singapore. Around the same time, Philips collaborated with ATA (American Telemedicine Association), to improve on adopting telehealth across home care, acute, and post-acute settings. In the year 2020 itself, BioTelemetry went on with the acquisition of On. Demand RPM (remote patient monitoring) and coaching platform that Envolve People Care, Inc. (a subsidiary of Centene Corporation) was operating.

In all

The global remote patient monitoring devices market is slated to grow on an impeccable note between 2021 and 2031 – Persistence Market Research

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