According to the report “Global Patient Monitoring Market", published by Market Data Forecast, the global market is projected to reach USD 24.26 Billion by 2020, at a CAGR of 7.5% from 2015 to 2020.
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Remote Patient Monitoring Systems enable efficient healthcare delivery to patients outside conventional hospital or clinical settings, by transmitting real-time patient data for clinical review which enables reduce the mortality rates and facilitate efficient use of medical resources. These monitoring systems also help in avoiding emergency overcrowding by managing huge number of patients and enhance maintenance of electronic health records (EHR). Recently the market has gained immense focus due to the government measures to cut down hospital expenditures and reduce hospital stays.
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Increasing aged population and rising incidence of unhealthy lifestyle are the major driving factors of the Patient Monitoring Market. Technological developments like portability of the device and government regulations to control rising healthcare costs are also in the growth of the market. On the other side increasing patient privacy concerns & lack of proper reimbursements policies and the high cost of Remote Patient Monitoring systems are inhibiting the growth of the market.
Global market for patient monitoring is segmented on the basis of disease condition into eight segments namely
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Some of the major companies in the patient monitoring market are Abbott Laboratories, Drager Medical GmbH, GE Healthcare, Johnson & Johnson Inc, Masimo Corporation, Medtronic, Omron Healthcare, Mindray Medical, Mortara Instrument Inc and Nonin Medical
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Last updated on: 30/09/2016
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