Remote Patient Monitoring Devices Market to Reach US$3.4 Billion by 2030, State TMR Study Says

WILMINGTON, DE /ACCESSWIRE/September 5, 2022 / Transparency Market Research Inc. – According to an assessment by Transparency Market Research (TMR), the global remote patient monitoring devices market is expected to grow at a CAGR of 12.5% ​​during the forecast period, between 2020 and 2030. Therefore, the remote patient monitoring devices market is projected to reach a value of US$3.4 billion by the end of 2030.

The TMR report offers an in-depth assessment of the key factors impacting the growth of the Global Remote Patient Monitoring Devices Market. Therefore, this study covers the analysis of growth drivers, growth restraints, expansion opportunities, challenges, recent developments and ongoing trends in the Remote Patient Monitoring Devices market. Additionally, this study sheds light on important statistics including Remote Patient Monitoring Devices market share, revenue, sales and production.

Leading companies in the remote patient monitoring device market are investing in R&D to develop technologically advanced products. Such initiatives help companies in launching new products as well as expanding their product portfolios, analysts of a TMR report on the remote patient monitoring devices market note. In recent years, major manufacturers of conventional medical devices have focused on expanding their product portfolio and launching remote patient monitoring devices integrated with next-generation technologies such as IoT. These technological advancements are expected to boost the market growth in the near future.

The adoption of remote patient monitoring devices is increasing in many emerging economies such as India due to many factors including improved purchasing power of people in the region and the presence of attractive reimbursement policies in the country. These factors, in turn, are fueling sales growth in India’s remote patient monitoring device market, TMR researchers note.

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Remote Patient Monitoring Devices Market: Key Findings

  • The popularity of remote patient monitoring devices is increasing in the healthcare industry due to their various benefits, due to which there has been a drastic reduction in the hospital stay of patients. Thus, increasing usage of these devices is bolstering the global remote patient monitoring device market. Apart from that, the market is driven by an increase in demand for innovative, cost-effective and reliable remote patient monitoring devices globally.

  • Government authorities in several developed and developing countries around the world are focusing on public health and advancing their healthcare institutions. This factor translates into significant opportunities for the development of the remote patient monitoring devices market.

  • The understanding of the benefits of remote patient monitoring devices is increasing in recent years among people all over the world. Additionally, there has been an increase in the adoption of technologically advanced equipment by this population base globally. These factors translate into considerable growth opportunities in the remote patient monitoring devices market, according to TMR researchers.

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Remote Patient Monitoring Devices Market: Growth Boosters

  • Rising prevalence of different chronic diseases around the world is fueling the need for remote patient monitoring devices

  • Rise in Healthcare Related Understanding Drives Business Prospects in Remote Patient Monitoring Devices Market

Remote Patient Monitoring Devices Market: Key Players

Some of the key players profiled in the report are:

  • GE Healthcare

  • Koninklijke Philips NV

  • Omron Health

  • Boston Scientific Society

  • Welch Allyn

  • Medtronic Plc.

  • Abbott Laboratories

  • Hoffmann-La Roche Ltd.

  • Masimo Company

  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

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Remote Patient Monitoring Devices Market Segmentation

Product

  • Vital signs monitors

  • Special monitors

Final user

  • Hospitalized patients

  • Home Care

  • Outpatients

  • Others

Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

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