Wearable Devices is fastest growing segment fueling the growth of Remote Patient Monitoring Devices Market

 

The global Remote Patient Monitoring Devices Market is estimated to be valued at US$ 1,192.5 Mn or Million in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: Remote patient monitoring devices allow continuous monitoring of patients’ vital signs and physiological data outside of conventional clinical settings such as hospitals and diagnostic centres. These devices help in early detection of adverse health conditions and ensure timely interventions to improve patient outcomes.

Market key trends: One of the key trends in the remote patient monitoring devices market is the rising adoption of wearable monitoring devices. Wearable devices allow continuous, real-time monitoring of patient health metrics such as heart rate, blood pressure, blood oxygen levels, blood glucose levels, activity levels etc. Currently, wearable devices account for over 40% of the remote patient monitoring devices market and growing at a faster rate owing to advantages such as convenience, cost-effectiveness and easy integration with smartphones. Advancements in miniaturization, improved functionality and connectivity of these wearable devices is expected to further drive their demand during the forecast period.
Segment Analysis
The remote patient monitoring devices market is segmented based on product type, end-user and application. By product type, the market is bifurcated into vital sign monitors and specialty monitors. Among these, the vital sign monitors segment held the largest market share in 2021 owing to the wide-ranging applications of these portable devices to monitor patients with chronic medical conditions remotely.

Key Takeaways
The global remote patient monitoring devices market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing incidences of chronic diseases and rise in geriatric population globally.

Regional analysis
North America dominated the global remote patient monitoring devices market in 2021 owing to the advanced healthcare infrastructure and government initiatives to support RPM adoption in the region. Asia Pacific is anticipated to witness the fastest growth during the forecast period due to expanding medical tourism industry, growing awareness and improving healthcare infrastructure in developing countries.

Key players
Key players operating in the remote patient monitoring devices market are Abbott Laboratories, GE Healthcare, Omron Healthcare, Medtronic PLC, Nihon Kohden, Smiths Medical, Philips Healthcare, F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., Siemens Healthcare GmbH and Cerena Corporation. Among these, Abbott Laboratories holds the leading market position owing to its wide product portfolio for remote monitoring of chronic diseases.

Comments

Post a Comment

Popular posts from this blog

Unveiling Health Secrets: Exploring the Potential of Blood-Based Biomarkers

Image
  The human body is a complex and intricate system, often harboring subtle signs of its inner workings. One of the most promising avenues for unlocking these secrets lies within our bloodstream – a treasure trove of information encoded in the form of blood-based biomarkers. These biomarkers, measurable indicators present in the blood, hold the potential to revolutionize healthcare by providing early detection, accurate diagnosis, and personalized treatment approaches. Blood-based biomarkers encompass a wide range of molecules – from proteins and nucleic acids to metabolites and even circulating cells. Researchers have been diligently working to identify specific biomarkers associated with various diseases and conditions. For instance, elevated levels of certain proteins might point to cardiovascular diseases, while specific genetic material could indicate the presence of cancer. By analyzing these biomarkers, clinicians gain valuable insights into an individual's health status, en...
Read more

Revolutionizing Biology: Advancements in Single Cell Analysis Techniques

Image
  Single cell analysis has emerged as a groundbreaking technology that is revolutionizing the field of biology. Traditionally, biological studies were conducted on populations of cells, averaging out the heterogeneity present within them. However, the advent of single cell analysis has enabled scientists to delve into the complexity of individual cells, uncovering a wealth of previously inaccessible information. Advancements in single cell analysis techniques have paved the way for a deeper understanding of cellular heterogeneity, gene expression, and cellular behavior. One of the most remarkable techniques is single-cell RNA sequencing (scRNA-seq), which allows scientists to measure gene expression in individual cells. This breakthrough has led to the identification of rare cell types, understanding of cellular communication networks, and the discovery of novel biomarkers. Moreover, single cell imaging techniques, such as single cell fluorescence microscopy, have enabled research...
Read more

Medical Robots Market Poised to Grow Owing to Improving Healthcare Infrastructure

Image
 The Medical Robots Market is anticipated to witness robust growth due to rising healthcare spending across the globe. Medical robots are used to perform minimal invasive surgeries with greater accuracy and flexibility. Growing preference for Robot-Assisted Surgery (RAS) over conventional open surgeries due to benefits such as shorter recovery time and minimum operative scars has been augmenting demand for medical robots. Key functions include guiding and positioning surgical accessories like guide tubes in radiology and guiding catheter and wires in cardiology. With rising chronic disease prevalence associated with aging populations, the need for more surgical procedures is surging which requires precise action minimally invasive robotic systems can provide. The Global Medical Robots Market is estimated to be valued at US$ 11.47 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030. Key Takeaways: Key players operating in the Medical Robo...
Read more