Remote Patient Monitoring System Market Analysis By Industry Size, Share, Revenue Growth, Development And Demand Forecast To 2022

Remote patient monitoring system focuses on monitoring the patient outside the conventional settings of hospitals and healthcare centers. With the help of this system, the patient can be treated from their own home and it is effective in reducing healthcare cost and saving time. For patients suffering from chronic diseases, it is better to arrange medical treatment from home as the patient feel more comfortable in the company of family members.

The primary users are hospitals and home healthcare clinics. There are mainly four components of a monitoring system. Sensors on medical devices which are used to measure physiological condition, local data storage facility which is connected with the centralized data center in the healthcare centers, centralized data storage facility is available at the medical center to track the treatment details of the patient, and diagnostic software application which provides treatment recommendation and intervention alert based on the medical data captured by the sensors.

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Market Dynamics
Advancement in technology, rising number of chronic diseases, the aging population, low treatment cost, fast and reliable medical consulting facility, and increasing demand are the main driving force for the growth of the remote patient monitoring system market. On the other hand lack of awareness among people, insufficiently trained professionals, high upfront cost of the devices, and stringent Govt. regulations are some of the primary restraints. The top companies are trying to increase their market share by introducing new devices to enhance the product portfolio or by acquiring other firms.

Market Segments
The market can be segmented based on the application and devices used. The remote patient monitoring system has its application in heart failure, diabetes, pulmonary, blood pressure, and mental health related diseases. Cardiac monitors, respiratory monitors, and hematology monitors are some of the products widely used in the market.

Regional/Geographic Analysis
North America is the market leader followed by Europe and the Asia Pacific. Technological advancement, venture capital investment, govt support and increasing demand for low-cost treatment ensure North America’s leadership in the remote patient monitoring system market. It is expected that North America will remain as a dominant market for the next few years. Investors and manufacturers are highly interested in Asia Pacific regions due to the presence of untapped market with lots of opportunities. Other geographic markets include South America, Japan, and Middle East & Africa.

Technological advancement, Govt. support, rising number of lifestyle diseases and increasing awareness among people are creating lots of opportunities in the current market. The highest growth rate is expected to be in the Asia Pacific region in the forecasted period. Various R&D work in critical disease sector is also creating opportunities for the market to grow.

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Key Players

Some of the major players in the market include Aerotel Medical Systems (1988) Ltd., Boston Scientific Corporation, Biotronik SE & Co. KG, Nihon Kohden Corporation, Medtronic Plc, Abbott Laboratories, Johnson and Johnson, Omron Corporation, and Microlife Corporation.

Report ContentsRegional AnalysisReport Highlights
Market segments

Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Rest of Eastern Europe

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Asia Pacific
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

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