Jul 31, 2023, 06:47 EST
New York, United States, Jul 31, 2023, 06:47 /Comserve / -- Research Nester published a report titled “Remote Patient Monitoring Devices Market: Global Demand Analysis & Opportunity Outlook 2033”
Research Nester published a report titled “Remote Patient Monitoring Devices Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global remote patient monitoring devices market in terms of market segmentation by monitoring type, type, component, indication, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global remote patient monitoring devices market is projected to grow at a CAGR of ~20% by attaining robust revenue during the forecast period, i.e., 2023 – 2033. Increasing cases of COPD are anticipated to propel the growth of the market during the forecast period. As of 2019, around 3 million deaths were caused by chronic obstructive pulmonary disease (COPD). Additionally, the spreading prevalence of cardiovascular disease is further estimated to propel the market growth over the forecast period. For instance, cardiovascular diseases account for nearly 18 million deaths each year while approximately 350,000 people died in 2020.
Additionally, by indication, the global remote patient monitoring devices market is segmented into oncology, diabetes, hypertension, COPD, congestive heart failure, and others. Out of these sub-segments, the oncology segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to the rising number of people suffering from cancer. For instance, around 400 new cases of cancer per 100,100 people are confirmed each year.
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Furthermore, the global remote patient monitoring devices market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of a spiking number of geriatrics and higher prevalence of chronic diseases in the region. Centers for Disease Control and Prevention (CDC) showed that every 6 out of 10 Americans are living with at least one chronic disease such as, cancer, diabetes, stroke, and others.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Spiking Spending on Medical Technology to Foster the Growth of the Market
The total spending on medical technology was estimated to reach approximately USD 30 billion in 2019.
Ongoing technological advancements in the medical field have spurred the demand for patient monitoring devices globally. These devices have been developed in a way to assist both patients and healthcare providers and can also be operated easily at home. The most common example of patient monitoring devices are thermometers, ECG, blood pressure cuffs, pulse oximeters, scales, glucometers, and others. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, a significant need for higher initial investment and higher cost associated with the procedure is expected to operate as a key restraint to the growth of the global remote patient monitoring devices market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players in the global remote patient monitoring devices market which includes company profiling of F. Hoffmann-La Roche Ltd, Koninklijke Philips N.V., Abbott Laboratories, Bio Telemetry, Inc., Boston Scientific Corporation, Omron Corporation, Masimo Corporation, Edward Lifesciences Corporation, Nihon Kohden Corporation, Medtronic plc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global remote patient monitoring devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
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