Remote Patient Monitoring Devices Market Report

Remote Patient Monitoring Devices Market Analysis By Product (Vital Sign Monitors, Specialized Monitors), By End Use (Hospital Based Patients, Alternate Site (Ambulatory Patients, Home Healthcare)), By Application, And Segment Forecasts, 2014 - 2025

Published: November 2016  |  140 Pages  |  Format: PDF  |  Report ID: 978-1-68038-383-6

Industry Insights

The global remote patient monitoring devices market was valued at USD 546.8 million in 2015 and is expected to grow at a CAGR of 13.4% over the forecast period. Growing geriatric population and their rising demand for independent living coupled with quality care and cost effective treatment are the vital growth propellers for this market.

Supportive government programs such as the Centre for Technology and Aging based in California, is devoted towards rapid technological advancement in remote patient monitoring devices which leads to maintenance of independent and healthier living. The extensive role of remote monitoring devices in chronic disease management, which includes an early warning system, care integrator, progress tracker, confidence builder and capacity builder are expected to further drive the industry growth over the forecast period.

U.S. remote patient monitoring devices market, by product, 2014 - 2025

U.S. remote patient monitoring devices market

The use of remote patient monitoring devices in post-acute care increases patient’s role in self-health management. This ability to augment self-management skills and tools is expected to be high impact rendering driver for the growth of market.

Estimates as per WHO (World Health Organization) suggest that the percentage of geriatric population is expected to reach 16.0% in 2050 from 7.0% in 2000. Aging is considered to be the greatest risk factor for chronic conditions. The rising geriatric population is expected to heighten the susceptibility towards chronic conditions such as diabetes, cardiovascular disorderand sleep disorder.

Biotronik, in order to prove the efficacy of its device TRUST Trial, conducted a study using its ICD (Implantable Cardioverter Defibrillator). The preliminary results found that remote patient monitoring reduces the in-person clinic visit by 43%. These technological advancements are expected to serve as growth opportunities for this market in the coming six years.

Product Insights

The product segment includes vital sign monitors and special monitors. The vital sign monitors are commonly used and are expected to remain as the fastest growing division over the forecast period.

Heart rate monitor is identified as the dominating product sub segment due to increasing incidences of cardiac related conditions globally.The surge in the number of individuals with heart disorders has led to the increased usage of these monitors.

Application Insights

Application segments of this market include cancer, cardiovascular diseases, sleep disorder and diabetes treatment along with weight management.The cardiovascular disease treatment segment is expected to witness lucrative growth over the forecast period due to its increasing prevalence rate.

Cardiovascular diseases emerged as the leading application segment in 2014 and accounted for over 30.0% of the share. Globally rising geriatric population base and the growing crisis of chronic diseases are expected to be high impact rendering drivers for the growth of the industry over the forecast period.

End-Use Insights

Hospital based, alternate site monitoring such as ambulatory patients and home healthcare are the end-use segments. Hospitals are expected to dominate this segment owing to high patient turn around and large volume of procedures.

However, alternate site monitoring especially home healthcare is anticipated to exhibit sturdy growth rate over the forecast period. Cost efficiency of these alternate site along with availability qualified resources is expected to support the growth.

Global remote patient monitoring devices market, by end-use, 2015

Global remote patient monitoring devices market

Regional Insights

North America was the dominant market for remote patient monitoring devices in 2015. Increasing base of geriatric population, rising incidences of chronic diseases, growing demand for wireless and portable systems coupled with presence of sophisticated reimbursement structureaiming towards cutting out of pocket expenditure levels are major factors attributing to its larger market share.

Europe,especially the Western European countries, due to higher mortality rate and rising demand for low cost treatment, is expected to remain the second most profit generating region for market over the forecast period. Rising demand for in house monitoring, supportive central data management systems, and rising accuracy and efficiency of remote patient monitors are the high impact rendering drivers for the region’s growth.

Asia Pacific is expected to grow at the fastest rate over the forecast period owing to the large presence of untapped opportunities in the emerging markets of India and China, rising medical tourism and constantly improving healthcare infrastructure in these markets.

Competitive Insights

Some of the key industry players include Honeywell, American Telecare, Roche, Philips Healthcare, Bosch, Biotronik, Intel, Welch Allyn, Health anywhere Inc, Johnson & Johnson and Covidien Plc. The market participants engage in collaborations such as mergers and acquisitions along with new product development in an attempt to maintain sustainability.

For instance, Bosch launched an easy to use patient interface for home healthcare in 2012, which assists the process of self-management and continuous monitoring for long term chronic conditions such as diabetes, cardiac arrhythmias and sleep disorders. Roche and Qualcomm entered into strategic collaboration in order to enhance remote monitoring and chronic disease management.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historic data

2013 - 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, South Africa

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented remote patient monitoring devices market on the basis of product, application, end-use and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Vital Sign Monitors

      • Blood Pressure Monitor

      • Pulse Oximeters

      • Heart Rate Monitor (ECG)

      • Temperature Monitor

      • Respiratory Rate Monitor

      • Brain Monitor (EEG)

    • Special

      • Anesthesia Monitor

      • Blood Glucose Monitor

      • Cardiac Rhythm Monitor

      • Respiratory Monitor

      • Fetal heart Monitor

      • Prothrombin Monitor

      • Multi Parameter Monitor (MPM)

      • Others (Ventilators, Infusion Pumps and Others)

  • Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Cancer Treatment 

    • Cardiovascular Diseases Treatment

    • Diabetes Treatment

    • Sleep Disorder Treatment

    • Weight Management and Fitness Monitoring

  • End-Use Outlook (Revenue, USD Million, 2014 - 2025)
    • Hospital based

    • Alternate Site Monitoring

      • Ambulatory

      • Home Healthcare

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America

      • U.S.

      • Rest of North America

    • Europe

      • Germany

      • UK

      • Rest of Europe

    • Asia Pacific

      • Japan

      • China

      • India

      • Rest of Asia Pacific

    • Latin America

      • Brazil

      • Mexico

      • Rest of Latin America

    • Middle East and Africa (MEA)

      • South Africa

      • Rest of Middle East and Africa

Key questions answered by the report
Request for Customization

Choose License Type:

Single User - $3,450
Multi User - $6,450
Enterprise User - $8,450

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA