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Remote Patient Monitoring Devices Market, By Products (Vital Sign Monitors and Special Monitors), and Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025

131 Pages | Published Date : 28 / 06 / 18  | Report Code: AV193 | Report Format: PDF

REPORT HIGHLIGHT

The Remote Patient Monitoring Devices market is estimated to represent a global market of USD 648.3 million by 2017 with growth rate of 11.6%.

Market Dynamics

Remote patient monitoring devices enable patients in disease monitoring outside of conventional clinical facilities. Use of such medical equipment increase access to the clinical care and minimize patient’s healthcare cost. Increasing incidences of chronic diseases globally play an important role in driving the demand for remote patient monitoring devices. For example, as per the World Health Organization, major chronic conditions such as diabetes, cancer, cardiovascular diseases, respiratory disorders, and other life-threatening diseases account for more than 60.0% of the total number of deaths and 43.0% of the global burden of disease.

Additionally, growing geriatric population, advancement in technologies coupled with rising demand for wireless and portable medical devices support the worldwide market growth.  However, the industry is stifled by some key impediments such as lack of sufficient reimbursements and increasing concerns over data security.

Product Takeaway

In terms of products, the market is divided into a vital sign and special monitors. Special monitors accounted for the highest share of the worldwide market. In 2017, this segment captured around 82% share of overall industry owing to its high cost coupled with increasing incidences of chronic disease conditions. Vital sign devices cover Blood Pressure, Heart Rate (ECG), Respiratory Rate, Brain Monitoring (EEG), and Others.

These equipment function as a surveillance system, which continuously monitors, analyze and record vital signs of a patient. Growing demand for a healthy and independent living has opened up a significant opportunity for vital signs monitors which have been identified as the most lucrative product segment of this market. Among different vital sign products, brain monitoring devices recorded the lowest revenue, capturing around 1.5% revenue share throughout the study period. These devices are primarily used to record electrical activity and thus the presence of any abnormalities in the brain.

Whereas, special devices comprise Cardiac Rhythm, Anaesthesia, Blood Glucose, Respiratory, Multi-Parameter Monitors (MPM) and others. Respiratory devices are considered to be one of the highest revenue generating product segment owing to the rising incidence of respiratory disorders across the globe.

According to the World Health Organization (WHO), more than 235 million people suffer from asthma, as of 2017 and the number is increasing rapidly. Application segment is divided into diabetes, cancer, cardiovascular disorders, and others. The end-use industry is categorized into Hospitals, Ambulatory Facilities, and Home Healthcare. Use of remote patient monitoring devices in hospital settings is high and the demand is rapidly increasing.

Global Remote Patient Monitoring Devices Market, by Products, 2017 vs 2025

Regional Takeaway

Regionally, North America and Europe accounted for the highest share of the overall industry, captured more than 65% revenue share in 2017. North America is the dominant region in global market owing to the rising chronic disease incidences coupled with favorable reimbursement schemes. For example, in the U.S., vital Sign Monitors such as blood pressure monitors, thermometers, and pulse oximeters are eligible for reimbursement schemes. Some of the schemes they are eligible for are HAS (Health Saving Account), FSA (Flexible Spending Account) and HRA (Health Reimbursement Arrangement). On another side, technology innovation is likely to help key players to create a new market in the developing region, primarily in smaller towns and rural areas, and leapfrog to the next level of growth.

Key Vendor Takeaway

A large number of companies in the remote patient monitoring equipment is preparing to inject new investments to introduce advanced products. Companies such as Roche Diagnostics, Honeywell, Phillips Healthcare, Welch Allyn, and Johnson & Johnson are considered to be the prominent players in this industry. Companies are actively involved in new product innovation and strategic mergers and acquisitions in order to maintain their significant presence. For instance, in 2017, Omron Healthcare, Inc. introduced blood pressure monitors at the Consumer Electronics Show (CES) in the U.S. The company is aimed to strengthen the company’s product portfolio in personal heart health technology through such introduction.

The market size and forecast for each segment and sub-segments has been considered as below:

  • Historical Year – 2014 & 2016
  • Base Year – 2017
  • Estimated Year – 2018
  • Projected Year – 2025

TARGET AUDIENCE

  • Traders, Distributors, and Suppliers
  • Manufacturers
  • Hospitals
  • Government and Regional Agencies and Research Organizations
  • Consultants
  • Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCT

  • Vital Sign Monitors
    • Blood Pressure Monitors
    • Heart Rate (ECG) Monitors
    • Respiratory Rate Monitors
    • Brain Monitoring (EEG) Devices
    • Others
  • Special Monitors
    • Cardiac Rhythm Monitors
    • Anaesthesia Monitors
    • Blood Glucose Monitors
    • Respiratory Monitors
    • Multi-Parameter Monitors (MPM)
    • Others

MARKET, BY REGION

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Rest of APAC
  • Rest of the World
    • Middle East and Africa
    • Latin America
TABLE OF CONTENT

1. REMOTE PATIENT MONITORING DEVICES MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Key Market Facts
2.2. Geographical Scenario
2.3. Companies in the Market
3. REMOTE PATIENT MONITORING DEVICES KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. REMOTE PATIENT MONITORING DEVICES INDUSTRY STUDY
4.1. Porter’s Analysis
4.2. Market Attractiveness Analysis
4.3. Regulatory Framework Analysis
5. REMOTE PATIENT MONITORING DEVICES MARKET LANDSCAPE
5.1. Market Share Analysis
6. REMOTE PATIENT MONITORING DEVICES MARKET – BY PRODUCT
6.1. Overview
6.2. Vital Sign Monitors
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.2.3. Blood Pressure Monitors
6.2.3.1. Overview
6.2.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.2.4. Heart Rate (ECG) Monitors
6.2.4.1. Overview
6.2.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.2.5. Respiratory Rate Monitors
6.2.5.1. Overview
6.2.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.2.6. Brain Monitoring (EEG) Devices
6.2.6.1. Overview
6.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.2.7. Others
6.2.7.1. Overview
6.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3. Special Monitors
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3.3. Cardiac Rhythm Monitors
6.3.3.1. Overview
6.3.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3.4. Anaesthesia Monitors
6.3.4.1. Overview
6.3.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3.5. Blood Glucose Monitors
6.3.5.1. Overview
6.3.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3.6. Respiratory Monitors
6.3.6.1. Overview
6.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3.7. Multi-Parameter Monitors (MPM)
6.3.7.1. Overview
6.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3.8. Others
6.3.8.1. Overview
6.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7. REMOTE PATIENT MONITORING DEVICES MARKET– BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.2.3. U.S.
7.2.3.1. Overview
7.2.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.2.4. Canada
7.2.4.1. Overview
7.2.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3. Europe
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3.3. France
7.3.3.1. Overview
7.3.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3.4. Germany
7.3.4.1. Overview
7.3.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3.5. Rest of Europe
7.3.5.1. Overview
7.3.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4. Asia Pacific (APAC)
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4.3. China
7.4.3.1. Overview
7.4.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4.4. India
7.4.4.1. Overview
7.4.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4.5. Rest of APAC
7.4.5.1. Overview
7.4.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5. Rest of the World
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5.3. Latin America
7.5.3.1. Overview
7.5.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5.4. Middle East and Africa
7.5.4.1. Overview
7.5.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8. KEY VENDOR ANALYSIS
8.1. Roche Diagnostics
8.1.1. Company Overview
8.1.2. SWOT Analysis
8.1.3. Key Developments
8.2. Honeywell
8.2.1. Company Overview
8.2.2. SWOT Analysis
8.2.3. Key Developments
8.3. Phillips Healthcare
8.3.1. Company Overview
8.3.2. SWOT Analysis
8.3.3. Key Developments
8.4. Welch Allyn
8.4.1. Company Overview
8.4.2. SWOT Analysis
8.4.3. Key Developments
8.5. Johnson & Johnson
8.5.1. Company Overview
8.5.2. SWOT Analysis
8.5.3. Key Developments
*Client can request additional company profiling as per specific requirements
9. 360 DEGREE ANALYSTVIEW
10. APPENDIX
10.1. Research Methodology
10.2. Abbreviations
10.3. Disclaimer
10.4. Contact Us

List of Tables
Table 1 List of Acronyms
Table 2 Key Market Facts, 2014 – 2025
Table 3 Market Drivers: Impact Analysis
Table 4 Market Restraint: Impact Analysis
Table 5 Market Opportunity: Impact Analysis
Table 6 PEST Analysis
Table 7 Porter’s Five Forces Analysis
Table 8 Company Market Share Analysis
Table 9 Global Remote patient monitoring devices Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
Table 10 Remote patient monitoring devices Market, by Product, 2014 – 2025 (USD Million)
Table 11 Remote patient monitoring devices Market, by Geography, 2014 – 2025 (USD Million)
Table 12 North America Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 13 U.S. Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 14 Canada Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 15 Europe Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 16 France Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 17 Germany Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 18 Asia Pacific Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 19 China Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 20 India Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 21 Latin America Remote patient monitoring devices Market, 2014 – 2025 (USD Million)
Table 22 MEA Remote patient monitoring devices Market, 2014 – 2025 (USD Million)

List of Figures
Figure 1 Research Methodology
Figure 2 Research Process Flow Chart
Figure 3 Comparative Analysis, by Geography, 2016-2025 (Value %)
Figure 4 Regulatory Framework Analysis
Figure 5 Remote patient monitoring devices Market, by Products, 2014 – 2025 (USD Million)
Figure 6 Remote patient monitoring devices Market, by Geography, 2014 – 2025 (USD Million)

SCOPE AND OBJECTIVES
The objective of this report is to describe the market trends and revenue forecasts for the market for the upcoming years. The report focuses on defining and describing the key influencing factors for the growth of the market. It also offers an in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key market players, and premium industry trends.
The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analysing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the market. The scope of this report covers the market by its major segments.

KEY BENEFITS OF THE REPORT
• In-depth analysis of the key market dynamics
• Granular analysis of the current market scenario and expected factors to affect the market
• Detailed analysis of the geographic region, regional and county wise analysis
• Highlight on the strategies that are being adopted by the key players in this market to stay competitive
• Extensive analysis of the key players dominating the market

RESEARCH METHODOLOGY

Research methodology is developed on a combination of specialist industry analyst knowledge and in-country research experience. We employ data interrogation methodologies to generate new and meaningful analyses and insights. The research study includes extensive use of secondary sources, paid databases (such as Bloomberg, Dun & Bradstreet, and BusinessWeek) and directories, to identify and collect information, useful to understand technical, commercial and market-oriented aspects. Market data and information are also collected (but not limited to) from the secondary sources such as:

  • Official company’s website, financial and annual reporting
  • Government statistical data
  • Online publishing articles
  • Industry player’s investor presentations
  • Economic news articles
  • National and international trade associations
  • The financial, business, and mainstream press
  • Industry study groups and semiofficial sources
  • Informative channels related to the market topics

* Gathering data through secondary sources is only the first step. The ability to cross-refer market data through available secondary            information often conflicting across multiple sources is a key aspect of the added value we provide

In order to verify and validate secondary market data, we engage with the Key Opinion Leaders (KoL’s), operating in the respective markets, through phone calls, emails, and web-based survey responses. This platform help us validate our data in terms of accuracy and gain insight into the current market and future expectations. Furthermore, the obtained information guide us to understand several facets of the market with respect to manufacturers and buyers’ perspectives.

In addition, to assign weights to all the relevant market dynamics and parameters and quantify their market impact for generating projected market growth rate, we used advanced machine learning algorithms in order to collate essential market data. The machine learning method utilizes algorithms such as regression, correlation, and decision tree, among others, to derive the desired output. This tool help us in deriving highly detailed forecasts, profound knowledge of product demand, and others.

These collected data points are carefully filtered, analyzed, compared, and presented in an easy way to develop accurate research study. Furthermore, all collected data is subjected to undergo exhaustive review process at country level, regional level, and global level.

Market Forecast

Market forecast is primarily based on the year-on-year (YOY) growth rate. Data projection and future performance of each segment is analyzed based on the key aspects extracted from primary and secondary research results. Thus, data projection exhibits the assumption on how the market performs under microeconomic and macroeconomic parameters. Our market forecasting technique represents strategic conclusions which can play a crucial role for our client’s in making strategic marketing plans.

For forecasting, the following parameters were considered:

  • Market drivers and restraints along with their current and expected impacts
  • Technological scenario and expected developments
  • Trends in the consumer behaviors
  • End-user industry trends

We have assigned weights to above-mentioned parameters and quantified their market impacts using the weighted average analysis, to derive an expected market growth rate.

Market Analysis

Once the information is collected, and the forecasts are determined, we provide a clear written analysis of the market conditions. This includes detailed information on market segments regarding market drivers, market restraints, and market opportunities. These offer insights on different channel dynamics, brand preference, incidence/prevalence data, consumption trend, and technology upgradations.

We also include supporting data from relevant awareness campaigns, new introductions, regulatory norms, government initiatives, and an industry player’s expansion in specific product segments. From a research perspective, this information explains and substantiates estimated data finding and forecast which helps us to improve the accuracy of the final report. This helps our clients to make better business decisions as they possess all the market information they require.

Assumptions

  • The report provides the market in terms of USD million/billion at regional as well as country level
  • We have implemented a mixture of top-down and bottom-up approach to estimate the total market and market for an individual segment
  • We reviewed various publications from government and non-government organizations, analyst perspectives for different regions from the paid databases available to us
  • This data helped us extract historical data and market scenario for various countries
  • The total population of respective countries, end users, product demand, local presence of key players, and cost are considered to analyze market revenue
  • Fundamental industry dynamics, demand-supply ratio, and upcoming technological trends are considered for the forecast period.
  • Growth rates are estimated using correlation, regression, and time-series analysis
  • All market estimates and forecasts have been validated through exhaustive primary research with key industry participants and analyst perspectives

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