Remote Patient Monitoring System Market Size 2021, Global Industry Analysis by Trends, Share, Company Overview, Growth and Forecast by 2021 Latest Research Report

Absolute Markets Insights added research publication document on Remote Patient Monitoring System Market breaking major business segments and highlighting wider level geographies to get deep dive analysis on market data. The study is a perfect balance bridging both qualitative and quantitative information of Remote Patient Monitoring System market. The study provides valuable market size data for historical (Volume** & Value) from 2016 to 2020 which is estimated and forecasted till 2030*.

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Remote Patient Monitoring System Market By Offering (Products (Vital Sign Monitors (Blood Pressure Monitor, Pulse Oximeter, Heart Rate Monitor (ECG), Temperature Monitor, Respiratory Rate Monitor, Brain Monitor (EEG), Others), Specialized Monitors (Anesthesia Monitor, Blood Glucose Monitor, Cardiac Rhythm Monitor, Multi Parameter Monitors, Respiratory Monitor, Fetal Heart Monitor, Prothrombin Monitor, Others), Services (Training And Consulting, Implementation And Maintenance, Design And Development, Others)); By Speciality (Anesthesiology, Cardiology, Neurology, Cardiovascular Care, Urology, Neonatology, Pulmonology, Cancer Care, Mental Health Care, Respiratory Care, Others); By End-Users (Hospitals And Clinics, Pharmaceutical Companies And Research Labs, Elderly Care Centers, Home-Care, Others); By Functionality (Portable, Non-Portable); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) — Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2020–2028

In terms of revenue, global remote patient monitoring system market was valued at US$ 980.06 Mn in 2019 and is anticipated to grow at a CAGR of 15.34% over the forecast period. Some of the players operating in the remote patient monitoring system market are Abbott, AliveCor, Inc., ALTEN Calsoft Labs (An ALTEN Group company), BD, Bio-Beat, BioTelemetry, Inc., Boston Scientific Corporation, Cerner Corporation, Dexcom, Inc., F. Hoffmann-La Roche Ltd, GENERAL ELECTRIC COMPANY, iRhythm Technologies, Inc., Koninklijke Philips N.V., Masimo Medtronic, Nihon Kohden Corporation, Omron Healthcare, Inc., OSI Systems, Inc., Preventice Solutions, Inc., Resideo Technologies, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthcare Limited, VitalConnect, VivaLNK, Vivify Health, Inc. and Welch Allyn, amongst others.

The healthcare industry is rampantly embracing technology. Added focus on healthcare advancement in the developing and developed countries is attracting heavy investments from both public and private participants. Telemedicine and remote patient monitoring programs are gaining traction in the healthcare industry, as the concept of home-based healthcare is being promoted as part of reducing added healthcare-related costs. The popularity of smart devices and the internet which is connected with IoT enabled medical monitoring devices is enabling medical professionals to study patient data and progress with ease. Centralized data storage allows remote access of data, and this data is used to provide tailor-made treatment solutions for individuals. These factors are leading to the growth of the global remote patient monitoring system market.

The COVID-19 pandemic has severely hampered the mobility of individuals in almost all regions across the world. Social distancing is being increasingly promoted by the government bodies to curb the spread of the virus, and individuals are being asked to remain at their homes and venture out only in cases of emergencies. The healthcare industry is being radically transformed as a result of the COVID-19 pandemic. Healthcare professionals and pharmaceutical companies are working around the clock to generate a cure for coronavirus. In healthcare facilities, added care is being taken to reduce the spread of infection. Hospital and clinic visits has seen a drastic fall ever since the discovery of the coronavirus infection, as the individuals are increasingly staying away from these facilities fearing the spread of the virus.

This has raised the demand for remote patient monitoring systems and devices, as patients are moving towards availing treatment from the comfort of their homes. Devices such as blood pressure monitors and oxygen level monitors are being integrated with IoT features, and the data from these devices can be monitored by healthcare professionals using cloud computing techniques. Furthermore, patients who have been tested positive for COVID-19 are also choosing to get treatment at home rather than being hospitalized. Higher cost of treatment in hospitals in regions where the public health facilities are not well developed is a major reason for this. Companies are increasingly coming up with remote patient monitoring systems that facilitate home-based care for COVID-19.

Periodic monitoring of SpO2 has been recommended by the Centers for Disease Control and Prevention in the U.S. for COVID-19 patients that are opting for COVID-19 treatment at home. OSPLabs, for instance, is providing a remote patient monitoring system for enhanced health tracking. The company also provides customized remote patient monitoring systems based on the requirement of the individual or healthcare facility. Private networks are also being provided to ensure patient data confidentiality. Similarly, VitalConnect, a company headquartered in California, has brought out a solution called VitalPatch for tackling the COVID-19 pandemic. Continuous monitoring of vital signs of patients is facilitated through wireless biosensors which have been integrated with the product. Hence, the COVID-19 pandemic is expected to have a positive impact on the global remote patient monitoring system market in the coming years.

This global Remote Patient Monitoring System market research analysis brings together a vast market place clearly into the focus. By understanding client’s requirements precisely and following them firmly, this Remote Patient Monitoring System market research report has been structured. The report discusses the recent and future market trends and performs analysis of the impact of buyers, substitutes, new entrants, competitors, and suppliers on the market. The Remote Patient Monitoring System report also has reviews about key players, major collaborations, merger & acquisitions along with trending innovation and business policies. The Remote Patient Monitoring System report is generated by proper use of SWOT analysis and Porter’s Five Forces analysis methods.

Report opportunities in the Remote Patient Monitoring System market:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Remote Patient Monitoring System Market
2. Market Penetration: Comprehensive information on the product portfolios of the top players in the Remote Patient Monitoring System market.
3. The key findings and recommendations highlight crucial progressive industry trends in the Remote Patient Monitoring System Market, thereby allowing players to develop effective long term strategies
4. To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the Remote Patient Monitoring System market
5. The report offers market share appraisals for regional and global levels

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