The Global Remote Patient Monitoring Devices Market was valued at US$ 754.9 million in 2015 and is projected to expand at a CAGR of 7.1% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Technological developments like the innovative portable monitoring device, rising incidences of unhealthy lifestyle related disorders and the enhancing healthcare infrastructure are expected to be major factors driving growth of the global remote patient monitoring devices market over the foreseeable future.
According to the Stanford Center for Sleep Sciences and Medicine 2017, around 30 million people suffer from sleep deprivation and sleep disorders, also known as sleep apnea. Sleep apnea can even cause serious health consequences by increasing the risk of diabetes, hypertension and heart attack if not diagnosed or treated. The collaboration of Telenor Connexion and French eHealth provider, SRETT, in 2014, provides a connected solution for remote monitoring of patients affected by sleep apnea. SRETT has developed a universal solution T4P for all types of continuous positive airway pressure (CPAP) device. The T4P is the only solution adapted to fit all CPAP devices on the market. The connected T4P collects and analyzes data from the CPAP remotely and in real-time, thereby reducing travel time and hospital visits. The patient data is uploaded automatically to healthcare professionals facilitating personalized and ongoing monitoring of patients’ condition.
According to the World Health Organization 2017, one third of ischemic heart disease is attributed to high cholesterol. The raised cholesterol is estimated to cause 2.6 million deaths (4.5% of total) and 29.7 million disability adjusted life years. The remote patient monitoring device provides easy-to-use and portable system with correct assessment of the cholesterol levels.
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Cardiac arrhythmia is a condition characterized by the heart’s failure to beat slower or faster than normal. According to the World Health Organization 2013, 33.5 million people or 0.5% of the global population is estimated to have Atrial fibrillation, a major condition leading to cardiac arrhythmia. The remote patient monitoring devices provide real-time remote continuous cardiac arrhythmias detection and monitoring platform, allowing easy diagnostics facilitating early clinical intervention of cardiac arrhythmia among high-risk patients. The innovative devices allows the patients to lead a normal life while being remotely monitored in real-time by ambulatory ECG sensor. For instance, Nihon Kohden introduced the Bedside Monitor, BSM-3500 in 2016, which is designed to meet the needs of ambulatory surgical centers and specialty centers. The device offers advanced patient care which includes real-time mini trends for early detection of vital sign variability during outpatient procedures and is also designed to integrate with electronic medical records systems.
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Key takeaways of the Remote Patient Monitoring Devices Market:
- The global remote patient monitoring devices market is expected to expand at a CAGR of 7.1% during the forecast period (2017–2025) as there exists a huge demanding market especially in Asia Pacific, Latin America, Middle East and Africa.
- The cardiac monitors dominates the market in the product segment, as these portable devices continually monitor electrical activity of the cardiovascular system while performing daily activities.
- The cardiac arrhythmia dominates the market in the application segment, as the cardiac monitors available for monitoring cardiac arrhythmia are easily usable and largely available in medical healthcare facilities and home care settings
- Hospitals and home care settings are the major end users of remote patient monitoring devices market, as these devices offer reliability and accuracy with periodic measurements of physiological parameters like heart activity, blood pressure, body temperature, pulse rate and other clinical conditions.
- Some of the major players involved in global remote patient monitoring devices market are Abbott Laboratories, GE Healthcare, Omron Healthcare, Medtronic, Nihon Kohden, Smiths Medical, Philips Healthcare, F. Hoffmann-La Roche Ltd. And Kokinklijke Philips N.V. and St. Jude Medical.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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