Remote patient monitoring devices supports patient monitoring of physical conditions without the need to visit a medical practitioner. Digital technology is used to monitor the patients, which gathers medical data that is securely passed to the healthcare providers at another location for clinical review. The remote patient monitoring devices helps to control patient costs by reducing hospital stays, empower patients to shift from healthcare to self-care, avoid hospital readmissions and modify patient behavior with reliable diagnosis. Remote patient monitoring devices allow for real-time sharing, allowing physicians to take vital decisions to ensure efficient treatment for various physiological parameters.
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The remote patient monitoring devices market is expected to gain steady traction in the foreseeable future as the remote monitoring experience bring total solution with sophisticated web-based technology personalized and day-to-day support.
The market is gaining significant traction due to rising prevalence rate of hypertension and diabetes. Management of these chronic conditions include a lifelong collaboration with the healthcare professionals. According to the World Health Organization 2012, an estimated 1.5 million deaths were directly caused by diabetes and another 2.2 million deaths were attributable to hyperglycemia or high blood glucose levels. The technological innovations and developments of remote monitoring products are contributing to the market growth. For instance, the FDA approval of CGM remote mobile communications device Dexcom SHARE, an accessory of Dexcom G4 PLATINUM Continuous Glucose Monitoring System, uses a secure wireless connection to transmit the glucose levels of a diabetic. With Dexcom SHARE, the glucose data can be easily monitored by parents and personal caregivers from a remote location.
Key companies covered as a part of this study include Abbott Laboratories, GE Healthcare, Omron Healthcare, Medtronic, St. Jude Medical, Smiths Medical, Philips Healthcare, F. Hoffmann-La Roche Ltd. And Kokinklijke Philips N.V. and St. Jude Medical.
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- Global Remote Patient Monitoring Devices Market, By Product Type:
- Cardiac Monitors
- Respiratory Monitors
- Hematological Monitors
- Vital Signs Monitors
- Global Remote Patient Monitoring Devices Market, By Application:
- Cardiac Arrhythmia
- Ischemic Diseases
- Sleep Apnea
- Chronic Respiratory Diseases
- Global Remote Patient Monitoring Devices Market, By End User:
- Home Care Settings
- Long-term Care Centers
Increasing awareness of home-based treatments is a prominent factor to fuel the remote patient monitoring devices market
The rise in the geriatric population, associated with high susceptibility to chronic diseases, increases demand for home-based treatments, opinion based diagnosis of chronic diseases tests in rural areas is expected to boost the global remote patient monitoring device market. The remote patient monitoring device in Asia Pacific is expected to increase over the forecast period, owing to high population base and the increasing purchasing power of the patients. The key players are acquiring smaller organizations to improve their product portfolio and gain additional market share. The collaborations between manufacturers, hospitals, and academic institutions are expected to establish a positively impact the market growth.
This post was originally published on Trading Herald