Steady Growth for Remote Patient Monitoring Market predicted through 2020

Transparency Market Research, a global market intelligence firm, has recently announced the publication of a new research report to their collection. The research report, titled “Remote Patient Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” provides a detailed study on the global remote patient monitoring devices market.

According to the report, in 2013, the global market for remote patient monitoring devices was worth US$0.38 bn and is anticipated to reach US$0.98 bn by the end of 2020. The market is expected to register a progressive 14.20% CAGR between 2014 and 2020. The rising economic burden on medical clinics and hospitals for patient admission is the major factor propelling the global remote patient monitoring devices market in the forecast period. However, the inadequacy in maintaining the security and privacy of the data is the key factor hampering the growth of this market.

On the basis of type, the global market for remote patient monitoring devices has been divided into breath monitors, physical activity monitors, heart monitors, hematological monitors, and multi-sign monitors. The growing prevalence of various chronic diseases that need constant monitoring, such as blood pressure, diabetes, and cardiovascular disorders, is driving the global market for monitoring medical devices. In 2013, the heart rate monitors segment led the overall market due to the rising prevalence of cardiac diseases across the globe.

Brochure Download: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=401

On the basis of end-use, the global market for remote patient monitoring devices is classified into ambulatory care centers and home healthcare. In 2013, the ambulatory care center segment held the biggest share in the global remote patient monitoring devices market. The dominance of this segment is due to the growing geriatric population, as aging people are at a greater risk of developing various infections and diseases. Nevertheless, the home healthcare segment is also expected to grow at a fast pace in the forecast period.

On the basis of major geographies, the global market for remote patient monitoring devices has been segmented into Europe, Asia Pacific, North America, and Rest of the World. In terms of revenue generation, the North America region dominates the global remote patient monitoring devices market and is also anticipated to remain in that position throughout the forecast period. The dominance of this region is due to the growing geriatric population and increasing healthcare cost in the U.S., making the remote healthcare monitoring treatment option attractive.

In addition, the rising incidence of diabetes in this region is another factor that is anticipated to boost the demand for hematology monitoring devices in the global remote patient monitoring devices market. On the other hand, the Asia Pacific remote patient monitoring devices market is projected to witness rapid growth due to several factors including the increasing costs of healthcare services and the booming medical tourism industry in countries such as Thailand and India.

Furthermore, the research report analyzes the competitive landscape of the global remote patient monitoring devices market based on key criteria such as company profile, financial overview, business strategies, and recent developments. Some of the key players mentioned in the research report are Honeywell HomMed LLC, F. Hoffmann-La Roche Ltd., AMD Global Telemedicine, Covidien plc, Omron Healthcare, Aerotel Medical Systems, Smiths Medical, and Abbott Laboratories.

Remote Patient Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

The global remote patient monitoring devices market is a rather new solution provided by the healthcare industry, owing to unique technological advancements that allow the dispensing of quality healthcare to patients who, for whatever reason, are away from a healthcare facility. Another name for remote patient monitoring is homecare telehealth. The basic concept of the global remote patient monitoring devices market involves the use of an ambulatory service that lets a patient use a medical device in a mobile manner to perform routine tests and diagnostic procedures. The procedures are all performed by a trained healthcare professional. The operative word to be used for the global remote patient monitoring devices market is “real-time”, which is the focus of all RPM services.

Browse Full Article: http://www.transparencymarketresearch.com/article/remote-patient-monitoring-devices-market.htm

The Advantages of a Revamped Healthcare Sector

Of the many benefits provided by the global remote patient monitoring devices market, the most crucial one has to be the significant reduction in waiting time for patients. Remote patient monitoring uses electronic medical records and quick-response communication systems, thereby allowing medical professionals to act immediately on any case and provide the best solution that can be arranged. This also means a decent cut in the number of hospital visits that a patient has to make. All the tests and diagnostics that can be performed on a mobile floor can be done through the global remote patient monitoring devices market. Other advantages of the market include enhanced data recording at regular intervals and for prolonged periods, increase in accuracy of results, cost reduction for patients, and easy access to a patient’s historic data.

Old Drivers for a New Market

One demographic segment that is in utter need of the global remote patient monitoring devices market is the geriatric group. Their currently growing numbers can mean only one thing for this market: higher demand. The rising geriatric population around the world, and especially in North America, is in need of constant medical assistance for problems like bone disorders and cardiac diseases. In fact, the number of patients who need care in terms of cardiac diseases is increasing rapidly enough to create a large uptake of heart monitors that will be used by the global remote patient monitoring devices market. Another factor set to drive the market is the rising prevalence of chronic diseases, including diabetes, blood pressure issues, and cardiovascular problems.

Get Free Sample: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=401

North America and the impact of the PPACA

From a geographical perspective, the global remote patient monitoring devices market is dominated by North America. The region faces an already large number of patients with cardiovascular and respiratory issues; a number that is still on the rise. Now, with the initiation of the Patient Protection and Affordable Care Act (PPACA), which was created under the Hospital Readmissions Reduction Program, the U.S. government can impose a penalty to any hospital with high readmission numbers. The Act lets the government penalize a hospital for 1% of the Medicare payment per patient for all readmissions into hospitals. The penalty must be paid within 30 days as of 2013. Therefore, to reduce the number of readmissions, healthcare organizations in the U.S. are using aspects of the global remote patient monitoring devices market.

All in all, the global remote patient monitoring devices market, with its acutely high CAGR of 14.2% from 2014 to 2020, is set to show major growth. The market was already worth US$0.38 billion in 2013, and with its many market drivers, is expected to reach a high net worth of US$0.98 billion by the end of 2020. This spells good news for all the existing players and the new entrants of the global remote patient monitoring devices market, whose innovative leads are critical to the market’s growth.

Browse Full Global Remote Patient Monitoring Devices Market Report With Complete TOC @ http://www.transparencymarketresearch.com/remote-patient-monitoring-devices-market.html