Remote Patient Monitoring Devices Market will tread along an excellent growth path, expanding at a 14.2% CAGR From 2014 to 2020: Transparency Market Research

Albany - NY, Aug. 10, 2015 (GLOBE NEWSWIRE) -- "Remote Patient Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020", a new report published by U.S.-based market research firm Transparency Market Research, presents a comprehensive account of the global remote patient monitoring devices market. Based on a detailed study using a number of industry-leading primary and secondary research methodologies, the report analyzes the past and current state of the market, and forms a forecast for the period between 2014 and 2020.The report states that the market will tread along an excellent growth path, expanding at a 14.2% CAGR over the forecast period. With such high growth prospects, the market, which had a net worth of US$0.38 billion in 2013, is expected to reach US$0.98 billion by 2020.

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The market for medical devices is one of the most important subsets of the global healthcare market. Aiding a variety of treatment methodologies and making self-treatment a plausible option for patients, the medical devices market, especially in the field of remote patient monitoring, continues to make healthcare easier and more effective with perpetually developing technologies in current times. Many factors are critical to the rising demand for remote patient monitoring devices, chiefly including the rising availability of user-friendly, portable devices, and the rising prevalence of chronic conditions such as diabetes, respiratory diseases, and a number of cardiovascular diseases across the globe.

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However, there are also certain factors, such as lack of reimbursement coverage and concerns related to privacy and security of data, related to remote patient monitoring devices that can hamper the market's growth to an extent over the report's forecast period.Of the key remote patient monitoring device types studied in the report, including heart monitors, breath monitors, body temperature monitors, hematology monitors, and physical activity monitors, the segment of heart monitors accounted for the largest market share in 2013 owing to the high prevalence of cardiac diseases across the globe. The market for cardiac monitoring devices is expected to see good growth over the report's forecast period, too, owing to the continuously expanding population of geriatrics and rising prevalence of heart conditions globally.

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Geographically, the market in North America is currently the lead revenue generator of the global remote patient monitoring devices market and is also expected to dominate the market in the near future. Rising healthcare costs in the U.S. and a growing population of people above 65 years of age make remote healthcare monitoring a highly attractive treatment option for North American consumers. High prevalence of diabetes in North America is also expected to help further development of the global remote patient monitoring devices market owing to the rising demand for hematology monitoring devices market. However, the market is expected to observe the fastest growth in the Asia Pacific regional market owing to factors such as rising healthcare costs and a flourishing medical tourism industry in regions such as India and Thailand. The report also presents a detailed competitive analysis of the market and presents business profiles of key players in the global remote patient monitoring devices market, including Covidien plc, Aerotel Medical Systems, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Honeywell HomMed LLC, Smiths Medical, AMD Global Telemedicine, and Omron Healthcare.

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Key Segments of the Global Remote Patient Monitoring Devices Market:

Global Remote Patient Monitoring Devices, by Types

Heart Monitors

  • ECG
  • Heart rate monitors
  • Fetal heart monitors
  • Blood pressure monitors

Breath Monitors

  • Respiration rate monitors
  • Spirometers
  • Sleep apnea monitors

Physical Activity Monitors

  • Activity level monitors
  • Weight monitors
  • Hematology Monitors
  • Blood glucose monitors
  • Prothrombin time monitors

Body Temperature Monitors

Multi-sign Monitors

Others (remotely monitored infusion pumps, Ventilators, etc.)

Global Remote Patient Monitoring Devices, by End Users

  • Home Healthcare
  • Ambulatory Care Centers

Global Remote Patient Monitoring Devices, by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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Source:Transparency Market Research