Remote Patient Monitoring (RPM) devices enable monitoring of patients outside the conventional settings, which increases efficiency and access to healthcare. RPM devices are used for the purpose of managing and monitoring a wide array of health conditions. These systems provide alerts when health conditions decline, allow patients, caregivers, and clinicians to intervene and modify treatment plan. The RPM devices market is segmented on the basis of products, applications, and end use. On the basis of product, they are classified into vital sign monitors and special monitors. By application, they are segmented into cardiovascular diseases, cancer, diabetes, sleep disorder treatment, and weight management & fitness monitoring market. End users of the market include hospital, and alternate site patient monitoring, such as ambulatory and home health care.
The growing demand for healthy and independent living has opened a significant market for vital sign monitors. Vital sign monitors are identified as the most lucrative product segment of RPM devices market. Along with geriatric care, vital sign monitors are also involved in preventive care and chronic disease management. Special monitors are expected to maintain their position over the forecast period owing to their application in acute care management and post operative management.
The global RPM devices market is highly competitive and fairly concentrated, with a few top companies accounting for over 50.0% of the global demand in 2015. Some key market participants include Medtronic;St. Jude Medical;Boston Scientific Corporation;Covidien; and Philips Healthcare. Expanding application of RPM devices and availability of technologically advanced products are expected to be vital for remaining competitive in this market, with frequent mergers and acquisitions being undertaken as an attempt to diversify product portfolio and gain market share.
Our study provides comprehensive analysis on market trends, driving factors, five forces, and various other parameters of market dynamics. Moreover, complete analysis of each segment, at global and regional level is included in our report.
In-depth report on global remote patient monitoring devices market by Grand View Research: