According to a new market research study titled 'Remote Patient Monitoring Devices Market - Global Analysis and Forecasts by Product, Application and End User. The global remote patient monitoring devices market is expected to reach US$ 1,546.85 Mn in 2027 from US$ 712.21 Mn in 2018. The market is estimated to grow with a CAGR of 9.0% from 2019-2027. The report highlights the trends prevalent in the global remote patient monitoring devices market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to rising prevalence of chronic diseases, increasing geriatric population, and rising awareness regarding healthcare. However, factors such as, unaddressed regulatory concerns and security and privacy concerns are likely to pose a negative impact on the market growth.
Global remote patient monitoring devices market, based on the application was segmented into cardiovascular diseases treatment, cancer treatment, sleep disorder treatment, diabetes treatment and weight management & fitness monitoring. In 2018, the cardiovascular diseases treatment segment held a largest market share of 22.9% of the remote patient monitoring devices market, by application. This segment is also expected to dominate the market in 2027 owing to increasing prevalence of the cardiovascular disease, changing dietary habits, sedentary lifestyle and obesity. Moreover, the cancer treatment segment is anticipated to witness the significant growth rate of 9.2% during the forecast period, 2019 to 2027 owing to rising government initiatives such as cancer awareness campaigns, health insurance policies covering cancer treatments, and evolving reimbursement policies for medical devices.
Some of the prominent players operating in remote patient monitoring devices market are Koninklijke Philips N.V., Medtronic Plc., Nihon Kohden Corporation, Welch Allyn, Abbott Laboratories, GE, Honeywell, Boston Scientific Corporation, F. Hoffmann-La Roche AG, American Telecare Inc., Johnson & Johnson, Biotronik SE & Co. KG, Masimo Corporation and Omron Healthcare. The market players are focused towards bringing new and innovative products through inorganic activities to sustain their position in the market. For instance, in January 2019, NewYork-Presbyterian Hospital will expand its virtual care capabilities with remote monitoring services from Philips. The hospital's affiliated doctors at Weill Cornell Medicine will utilize the Philips eCareCoordinator and eCareCompanion solutions. Additionally, its affiliated physicians at Columbia University Irving Medical Center anticipate using the tools. The eCareCoordinator platform lets clinicians remotely keep an eye on patients' vital signs and send them short surveys about their health status.
Global Perfusion Systems Market, By Regions, 2018 (%)
The report segments the global remote patient monitoring devices market as follows:
Global Perfusion Systems Market - By Type
Global Remote Patient Monitoring Devices Market - By Application
Global Remote Patient Monitoring Devices Market - By End User
Global Perfusion Systems Market - By Geography
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