Health systems or hospitals rapidly adopted remote patient monitoring technology to maintain social distancing and thereby control viral spread. Patients suffering from COVID – 19 need to monitor blood oxygen level and heart rate regularly. Hence, it is expected to increase the demand of RPM technology during the forecast period.
The global Remote Patient Monitoring Market was valued at US$ 975 Mn in 2020 is expected to reach US$ 3,244.9 Mn by 2027, with a growing CAGR of 18.9% during the forecast period (2021-2027).
Rising geriatric population, Covid-19 cases, entry of innovative products, and investment by market players are some of the major drivers of the global remote patient monitor’s market. Large number of diabetes patients is responsible for dominance of segment in the market. Large patient pool and increasing adoption by patients are expected to accelerate the market growth.
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The report overview includes studying the market scope, leading players like American Telecare; Biotronik; Bosch; Honeywell; Roche; Philips Healthcare; Intel; Health anywhere Inc.; Johnson & Johnson; Welch Allyn; and Covidien Plc, etc.market segments and sub-segments, market analysis by type, application, geography.
According to CDC statistics, about 6 in 10 adults in the U.S. are suffering with at least one chronic disease. Furthermore, 4 in 10 adults have two or more than two chronic diseases. This report covers Leading Countries and analyzes the potential of the global Remote Patient Monitoring industry, providing statistical information about market dynamics, growth factors, major challenges, PEST analysis, and market entry strategy Analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.
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The Global Remote Patient Monitoring Industry Segmentation:
- Vital Sign Monitors
- Specialized Monitors
- Cardiovascular Diseases
- Sleep Disorder
- Weight management and Fitness Monitoring
- Hospital-based Patients
- Ambulatory Patients
- Home Healthcare
Based on geography, the global Remote Patient Monitoring market is categorized into five major geographies, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2020, North America commanded for the largest share of the global Remote Patient Monitoring market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Remote Patient Monitoring industry is growing at a fast pace and so. existence of major players in this market along with a high willingness to adopt these technology
The report can assist with understanding the market and plan for business extension appropriately. In the procedure examination, it gives experiences from marketing channel and market situating to potential development techniques, giving inside and out an investigation to new contestants or exists rivals in the Remote Patient Monitoring business. For every maker covered, this report investigates their Remote Patient Monitoring fabricating locales, limit, creation, ex-industrial facility value, income, and market share in the worldwide market.
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