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The global Remote Patient Monitoring Devices Market Size is expected to attain a market size of $13.1billion by 2022, rising at a CAGR of 14.3% during the forecast period.
Remote Patient Monitoring (RPM) Device also known as homecare Telehealth, is a technological device that are used for continually monitoring heart activity, blood pressure, pulse rate, body temperature and other patient related activities. These devices are also useful in inspecting the chronic diseases. The health professionals can examine their patients from the remote locations is one of the major breakthroughs in terms of healthcare advancements. To perform a routine test patient can use the mobile medical devices and can easily send the test data to their respective healthcare surgeon with the help of smartphones or computers. Reduction in the cost of the hospitals stays, overcrowding in the diagnostic centres, and increase in the patient care are some of the key drivers of the Remote patient control market. However, shortage of skilled professionals, lack of Reimbursement guidelines and issues in device function can hamper the growth of the market.
The National Telehealth Policy Resource Center says those who spend more time using remote monitoring had higher survival, those who did not use remote monitoring device; it clearly indicates that increased use of remote patient monitoring device could improve patient outcomes. Based on the product, the Remote Patient Monitoring Devices market is segmented into Cardiac Monitors, Respiratory Monitors and Hematological Monitors. The Cardiac Monitors market is segmented into ECG Monitoring, Heart Rate Monitors, Fetal Heart Rate Monitor and Blood Pressure Monitors. Respiratory Monitors are further segmented into Respiration Rate Monitor, Spirometers and Sleep Apnea Monitor. The Hematological Monitors market is further segmented into Blood Glucose Monitor and Prothrombin Time Monitor.
Based on the Indications, the market is segmented into Cardiac Arrhythmia, Diabetes, Ischemic diseases, Hypertension, Sleep apnea, Chronic respiratory diseases and Hyperlipidemia. Based on End User Type, the market is segmented into Hospitals, Homecare Settings and Others. Based on region, Remote Patient Monitoring Devices market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Remote Patient Monitoring Devices market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Remote Patient Monitoring Devices market. Key companies profiled in the report include Abbott Laboratories, Medtronic Plc, Roche Diagnostics, Siemens Healthcare (Siemens AG), Omron Corporation, Nihon Kohden Corporation, Honeywell International, Inc., Lifewatch and Philips Group.