Remote Patient Monitoring Market Worth $2,130 Million by 2025
Pune, Maharashtra, India, February 10 2021 (Wiredrelease) Allied Analytics –:Allied Market Research published a report, titled, “The Global Remote Patient Monitoring Market size was $703 million in 2015 and is expected to grow at a CAGR of 17.0% to reach $2,130 million by 2025. Congestive heart failure segment is estimated to lead the market throughout the analysis period, closely followed by diabetes. Three-fourths of the remote patient monitoring market share was captured by North America and Europe in 2015.
The leading companies, such as Medtronic Plc., Biotronik, and Boston Scientific Corporation, have adopted – product development and partnership strategies to improve their market share and positioning.
“Remote Patient Monitoring Market by Condition (Congestive Heart Failure, Diabetes, Chronic Obstructive Pulmonary Disease, Blood Pressure, and Mental Health), Components (Devices and Software) – Global Opportunity Analysis and Industry Forecast, 2014 – 2025”
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The congestive heart failure (CHF) is the highest revenue-generating segment in this market owing to the high-risk and life-threatening consequences associated with heart failure, which can be avoided using RPM technologies. In addition, the increase in geriatric population that leads to increase in incidences of age-related heart problems will further drive the market growth. Whereas, diabetes would account for the fastest growing segment owing to the increase in incidence of diabetes, presence of well-established smart glucose monitoring technologies in the market and rise in adoption by end users. The diabetes segment would exhibit significant growth in the Asia-Pacific and LAMEA, supplemented by the increase in awareness and adoption among end users.
1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
The devices segment occupied the major market share in 2015, and is expected to grow during the analysis period. This is due to the high one-time capital cost associated with the purchase of RPM devices. Also, improved highly sensitive devices, additional features, and added connectivity will help devices market to grow at a faster pace as compared to software.
Presently, North America and Europe are the most lucrative markets supplemented by factors, such as high purchasing power leading to rapid adoption of innovative technologies, increase in prevalence and incidences of chronic diseases in these region owing to the sedentary lifestyle, and established reimbursement policies along with the improved awareness. The Asia-Pacific RPM market is projected to be fastest growing geography globally. The market growth in this region is primarily attributed to the large undiagnosed patient population, improving access to the healthcare systems, and a high risk of developing chronic disease due to rapid urbanization.
Key findings of the Remote Patient Monitoring Market study:
– CHF was the leading segment in 2015, and is expected to maintain its lead throughout the analysis period.
– Diabetes will be the fastest growing segment throughout the analysis period.
– Devices will be both the highest revenue generating and fastest growing segment of the global remote patient monitoring (RPM) market.
– Saudi Arabia market for remote patient monitoring is projected to grow at a high CAGR of 21.3%.
– U.S. was the largest country market in 2015, and is projected to maintain its lead until 2022.
Summary of the Remote Patient Monitoring (RPM) Market Report can be accessed on the website at:
The key players profiled in this report include Aerotel Medical Systems (1988) Ltd., Biotronik SE & Co. KG, Boston Scientific Corporation, General Electric Company, Nihon Kohden Corporation, Medtornic Plc, Masimo Corporation, Abbott Laboratories, Johnson and Johnson, and Omron Corporation. Other players in the RPM market include A&D Company, Limited, Jawbone, Docobo Ltd., Microlife Corporation, Aipermon GmbH & Co. KG, SHL Telemedicine, Sorin Group and Schiller AG.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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