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    Remote Patient Monitoring Market Report

    Remote Patient Monitoring Market Report
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    Global Remote Patient Monitoring Market, Trends, Dynamics, and Market Analysis
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    Impact of COVID-19 on Remote Patient Monitoring Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Remote Patient Monitoring Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Global Remote Patient Monitoring Market is estimated to grow from USD 23.1 billion in 2020 to USD 123.5 billion by 2026 at a healthy CAGR of 33.1% during the forecast period.

    Figure: Global Remote Patient Monitoring Market Size, 2020-2026 (USD Billion)

    Remote-Patient-Monitoring-Market-Forecast

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    What is Remote Patient Monitoring?

    Remote Patient Monitoring is a healthcare method that involves the usage of technology to gather patient data outside healthcare facilities. It helps to collect medical data of patients from one place and transmit the healthcare provider at different locations electronically for assessment and recommendation. It allows the healthcare provider to track data of a patient discharged from hospital to home or a care facility and thus, helps to reduce readmission rates.

    Key Players

    Key players operating in the global Remote Patient Monitoring market are-

    • Abbott Laboratories (The U.S),
    • Mindray Medical International Limited (China),
    • Johnson & Johnson (The U.S),
    • GE Healthcare (The U.S),
    • Omron Corporation (Japan),
    • Nihon Kohden Corporation (Japan),
    • Honeywell Life Care Solutions (The U.S),
    • Koninklijke Philips N.V. (Netherlands),
    • OSI Systems, Inc. (The U.S),
    • F. Hoffmann-La Roche AG (Switzerland),
    • Smiths Medical, Inc. (The U.S), and
    • Boston Scientific Corporation (The U.S).

    Market Dynamics

    The global market growth is primarily driven by rapid urge in number of hospitals using telehealth to provide healthcare services remotely.

    • Remote patient monitoring helps to reduce healthcare costs and reduce burden on the medical resources.
    • Additionally, rising prevalence of chronic diseases among consumers such as cancer, cardiovascular diseases, bronchitis and diabetes coupled with expanding geriatric populace is expected to drive the market growth at a significant rate during the review period.
    • Furthermore, increasing demand for technologically advanced solutions in the healthcare industry to treat infectious diseases is projected to create substantial growth opportunities for the market players.

    Segments' Analysis

    End User Trends

    Based on end user, the market has been divided into hospital-based patients, ambulatory patients, and home healthcare.

    • The hospital-based patients segment accounted for the substantial market share in 2020.
    • The segment growth can be attributed to prevalence of large number of patients in the hospitals.
    • The home healthcare segment is projected to register fastest CAGR due to increasing number of people interacting with the doctors at home coupled with convenience, availability of skilled staff and cost efficiency.

    Regional Trends

    The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period due to the increasing prevalence of chronic diseases, expanding geriatric populace, and high demand for low-cost healthcare treatment.

    The market in the Asia-Pacific region is projected to register a healthy growth rate on account of the rising number of people suffering from chronic diseases and the increasing adoption of digitally advanced solutions.

    COVID-19 Impact on Global Remote Patient Monitoring (GPCRs) Market

    The covid-19 outbreak impacted the growth of the remote patient monitoring market positively as the visits to hospitals for medical consultation decreased due to fear of getting infected. The usage of remote patient monitoring made it easier for the patients to be able to consult the healthcare providers online.

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    Critical Questions answered in the report –

    • What are the key trends in the global Remote Patient Monitoring market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on the global Remote Patient Monitoring market?
    • What are the key strategies adopted by the major vendors to lead in the global Remote Patient Monitoring market?
    • What is the market share of the top vendors?

    Target Audience

    • Remote patient monitoring distributors
    • Remote patient monitoring suppliers
    • Remote patient monitoring manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    The remote patient monitoring market size is expected to reach USD 123.5 billion in the foreseeable future.

    Abbott Laboratories (The U.S), Mindray Medical International Limited (China), Johnson & Johnson (The U.S), GE Healthcare (The U.S), Omron Corporation (Japan), Nihon Kohden Corporation (Japan), Honeywell Life Care Solutions (The U.S), Koninklijke Philips N.V. (Netherlands), OSI Systems, Inc. (The U.S), F. Hoffmann-La Roche AG (Switzerland), Smiths Medical, Inc. (The U.S) and Boston Scientific Corporation (The U.S) are among the key players in the remote patient monitoring market.

    The remote patient monitoring market is expected to witness an impressive growth of 33.1% CAGR in the coming years.

    North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period.

    The home healthcare segment is expected to register the fastest CAGR in the remote patient monitoring market in the coming years.

    Remote patient monitoring distributors, Remote patient monitoring suppliers, Remote patient monitoring manufacturers, Logistics organizations, Government bodies are the target audience in the remote patient monitoring market.

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