Remote Patient Monitoring Market
Remote Patient Monitoring Market Expected to Reach $8.5 Billion by 2031
PORTLAND, OREGON, UNITED STATE, July 21, 2022 /EINPresswire.com/ -- The remote patient monitoring market was valued at $1.9 billion in 2021, and is estimated to reach $8.5 billion by 2031, growing at a CAGR of 16.3% from 2022 to 2031.Surge in number of populations, limited availability of hospitality bed along with upsurge in infectious virus during the pandemic fuel the growth of the global remote patient monitoring market during the forecast period
Remote patient monitoring devices check patients' body temperature, respiration rate, heart rate, and blood pressure without invasive treatments. Day-to-day monitoring equipment, such as glucometers for diabetic patients and heart or blood pressure monitors for cardiac patients, are examples of remote patient monitoring technologies. Information can be delivered to a physician's office through a software application installed on the patient's internet-capable computer, smartphone, or tablet using telehealth communication lines.
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KEY FINDINGS OF STUDY
The study provides an in-depth analysis of the remote patient monitoring market size along with the current trends and future estimations to elucidate the imminent investment pockets.
It offers remote patient monitoring market analysis from 2021 to 2031, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global remote patient monitoring market growth.
The World Health Organization (WHO) on January 30, 2021 declared COVID-19 as a pandemic and general wellbeing crisis of international concern. COVID-19 has impacted around 210 countries across the globe ,owing to the COVID-19 pandemic. State-run administrations across the globe declared inescapable lockdowns as well as social distancing measures to forestall breakdown of the healthcare structure. States have additionally given constraints and preventions on undertakings and elective surgeries. These obstructions continue to influence the growth of different industries and the enhanced response toward these regulations affects the industry. The distribution, production, and store network have been impacted, due to lockdowns across the globe.
Key Market Segments
By Condition
Congestive Heart Failure (CHF)
Diabetes
Chronic Obstructive Pulmonary Disease (COPD)
Blood Pressure
Mental Health
Others
By Component
Devices
Software
Key Market Players
Aerotel Medical Systems (1988) Ltd.
Boston Scientific Corporation
General Electric Company
Nihon Kohden Corporation
Medtronic Plc
Masimo Corporation
Abbott Laboratories
Johnson and Johnson
Omron Corporation
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The remote patient monitoring market share is segmented on the basis of condition, component and region. By condition, the market is fragmented into congestive heart failure, diabetes, chronic obstructive pulmonary disease, blood pressure, mental health and others. The congestive heart failure segment dominated the market in 2021 with a revenue of $916.75 million. Growth of the segment is attributed to rising burden of chronic diseases such as heart diseases due to lifestyle changes and the rising geriatric population. By component the market is segregated into devices and software.
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