Global remote patient monitoring (RPM) devices market is forecasted to reach $556.9 million by the year 2016 at the compounded annual growth rate of 10% during the forecasted period. Some of the major factors responsible for this growth are continuously increasing number of patients suffering from chronic disorders like cardiovascular illnesses and diabetes and increasing number of elderly population, as these people often prefer house monitoring as it avoids travelling and waiting time. Cardiac remote patient monitoring is the largest segment of this industry and it is expected to reach $399.9 million by the year 2016 at the compounded annual growth rate of 11%. This growth is mainly attributed due to the increasing incidences of cardiovascular diseases across the world. The U.S. and Europe are the largest markets for cardio remote patient monitoring devices where penetration of RPM is much higher.
Rise in occurrences of chronic diseases is leading to an increase in overall expenditure on healthcare facilities, thus increasing pressure on government and healthcare providers to look for alternative methods to reduce healthcare costs. Remote patient monitoring is intended to reduce the treatment costs as it reduces visits to hospitals and clinics and expenditure on healthcare facilities as treatment can be provided at home.
Based on Type
- Hemodynamic monitoring devices
- Neuromonitoring devices
- Cardiac monitoring devices
- Multi-parameter monitoring devices
- Remote patient monitoring devices
Based on Application
- Home Healthcare
- Nursing Homes
This research report analyzes this market depending on its market segments and major geographies. This research report also includes complete analysis of current market trends, industry drivers, factors limiting market growth, industry structure, and market projections for upcoming years. Report also provides analysis of recent technological developments in this industry, Porter’s five force model analysis, and complete company profiles of top industry players. This report includes review of micro and macro factors significant for existing market players and new entrants along with detailed value chain analysis.
Geographies analyzed under this report are
- North America
- Asia Pacific
- Rest of the World
Some of the major players dominating this industry are Philips Healthcare, GE Healthcare, MindRay Medical, Omron Healthcare, Draeger Medical, Nihon Kohden, Masimo, Covidien, CareFusion, Welch Allyn, Schiller AG, and others.
More Reports on Medical Devices Market: http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html
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