Owing to the advent of technology and increasing acceptance toward novel changes, the global remote patient monitoring device market is expected to see an outstanding rate of growth in present years. The outlook towards diseases and healthcare management is improving day by day. In the years to come, it is estimated that the global remote patient monitoring device market may flourish as manufacturers are putting more focus to understand the needs of the patients and accordingly produce end products. This is being done with the help of surveys and data analytics.

According to the report by TMR, the global remote patient monitoring devices market was valued at around US$0.38 bn in 2013 and is anticipated to expand with a CAGR of around 14.20% from 2014 to 2020 to attain value of US$0.98 bn by the end of 2020.

There are different variations in the remote patient monitoring devices like breath monitors, hematological monitors, multi-sign monitors, heart monitors, and physical activity monitors. Among these, heart monitors have more chances of increasing demand in the coming years. This is because of the rise in cases of various heart-related problems and cardiovascular diseases. Moreover due to the increase in the number of people suffering from high pressure, the revenue share contribution to the market is also expected to go higher with the advent of time.

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Global Remote Patient Monitoring Devices Witness Most Promising Rise in Demand:

The global remote patient monitoring devices market is experiencing lucrative growth in the coming years. This growth can be attributable to the changing outlook toward the treatment of diseases and presence of advanced technology. Some other factors such as growing acceptance of patient management owing to patient-centric approach is influencing positively on the growth of the global remote patient monitoring devices market. Additionally, manufacturers are increasingly showing interest in understanding need of patients through data analytics and surveys which is resulting in to growing manufacture of advanced devices to improve healthcare devices. An swift change in the demand toward home care and preventive care has boosted acceptance of remote patient monitoring devices.

On the basis of region, the global remote patient monitoring devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Of these, in 2016, North America accounted for leading share of 39.1% in the global market for remote patient monitoring devices. This dominance is attributable to strong presence of key players and growing geriatric population in the region. Moreover, well-established and presence of advanced healthcare infrastructure and growing awareness towards home healthcare are projected to influence positively on the growth of this regional market in the upcoming years. However, Asia Pacific is expected to expand with higher CAGR owing to growing concerns about health, rising investment in the healthcare sector, and rising disposable income among the population.

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In healthcare industry, various remote patient monitoring devices are being adopted and this is bringing a good change in the healthcare industry. The rate of acceptance in terms of preventive care and home care has seen an accelerated growth. The main motive of these devices is to offer help to the patients so that they themselves can keep a track of their health, and prevent long-drawn sickness. These devices also offer diagnosis to the patients during treatments and also after surgeries.

 Global Remote Patient Monitoring Devices Market: Companies Mentioned:

Major companies in the remote patient monitoring devices market are Hoffman-La Roche Ltd., Abbott Laboratories, Honeywell HomMed LLC, AMD Global Telemedicine, and F. Hoffman-La Roche Ltd.

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