Remote Patient Monitoring

Remote Patient Monitoring Market is Expected to Reach $2,130 million, Globally by 2022 Remote Patient Monitoring (RPM) Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $2,130 million by 2022, registering a CAGR of 17% during the period 2014-2022. Congestive heart failure segment is estimated to lead the market throughout the analysis period, closely followed by diabetes.

Three-fourths of the remote patient monitoring market share was captured by North America and Europe in 2015.

RPM is an innovative care delivery model that securely transmits patient’s data to healthcare teams, and alerts the providers about the early signs of clinical deterioration, and thus creates opportunities for timely intervention. It allows hospital and healthcare systems to improve and ensure compliance with post-discharge plans. This is because the doctor has access to patient’s vitals outside the hospital premises. They identify any potential health problems using the historical track records and time-based monitoring, and intervene before they cause any emergency. This reduces readmissions and prevents avoidable hospitalizations.

Moreover, these technologies decrease a number of unnecessary trips to the doctor’s office by automatically updating the patients vital sign database at regular intervals and reduce travel-related expenses. These factors are necessary to receive quality medical care and drive the RPM market growth. However, unfavorable reimbursement policies and limited awareness about the RPM devices restrains the market growth.

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Key Findings of the Remote Patient Monitoring (RPM) Market:     

CHF was the leading segment in 2015, and is expected to maintain its lead throughout the analysis period.

Diabetes will be the fastest growing segment throughout the analysis period.

Devices will be both the highest revenue generating and fastest growing segment of the global remote patient monitoring (RPM) market.

Saudi Arabia market for remote patient monitoring is projected to grow at a high CAGR of 21.3%.

U.S. was the largest country market in 2015, and is projected to maintain its lead until 2022.

For instance, Medtronic announced the launch of MiniMed 630G system with SmartGuard technology in August 2016. This system was approved for the treatment of diabetes mellitus patients aged 16 years and above. This system combines its proprietary SmartGuard technology with a brand new user-friendly pump design. Boston Scientific Corporation received an FDA approval for EMBLEMTM MRI subcutaneous implantable defibrillator (SICD) system in August 2016. This system provides treatment for patients who are at risk of a sudden cardiac arrest. Thus, it reduces the risk of complications associated with conventional transvenous implantable cardioverter-debrillator leads.

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Key players in the market includes:                 

Aerotel Medical Systems (1988) Ltd. Biotronik SE & Co. KG Boston Scientific Corporation General Electric Company Nihon Kohden Corporation Medtornic Plc Masimo Corporation Abbott Laboratories Johnson and Johnson and Omron Corporation A&D Company Limited Jawbone Docobo Ltd. Microlife Corporation Aipermon GmbH & Co. KG SHL Telemedicine Sorin Group and Schiller AG.