The usage of remote patient monitoring devices allows for the digital capture of a person's medical data from a single place and the electronic transmission of that data to healthcare professionals in other locations for assessments and recommendations. Blood pressure, blood oxygen levels, heart rates, electrocardiograms, and blood sugar levels are just a few of the medical data that are collected by the monitoring devices from point-of-care testing. The information gathered by the gadgets is subsequently sent to medical personnel working in hospitals, critical care units, and nursing homes for additional evaluation.
The size of the global market for Remote Patient Monitoring Devices was estimated at US$ 1,192.5 million in 2022 and is anticipated to grow at a CAGR of 7.4% during the following five years (2022-2030).
Major Players in the Remote Patient Monitoring Devices Industry:
1. Abbott Laboratories
American global medical device and healthcare corporation Abbott Laboratories was established in 1888 and is headquartered in Abbott Park, Illinois. Abbott Laboratories (Abbott) researches, develops, produces, and markets a wide array of healthcare goods, including branded generic medications, diagnostic tools, and infant, adolescent, and adult nutritional supplements. Also, the business sells a range of medical devices, such as those for neuromodulation, electrophysiology, rhythm control, heart failure, and vascular and structural heart problems. Also, the business sells dietary supplements as well as minerals and nutrition goods. In addition to operating production sites across the world, it has research and development centres in the US, China, Colombia, India, Singapore, Spain, and the UK. The firm sells its goods across Africa, South America, the Middle East, Europe, and the Asia-Pacific region. Abbott is headquartered in Abbott Park, Illinois, the US.
2. GE HealthCare Technologies Inc.
GE HealthCare Technologies Inc., doing business as GE HealthCare, is a multinational provider of medical technology with its main office in Chicago, Illinois. It was established in 1892. On January 4, 2023, GE split it out, keeping 20% of the company. A greater number of people can receive better care thanks to our customers' use of the wide range of expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement, and performance solutions services.
3. Medtronic plc
Medtronic plc is an American manufacturer of medical equipment, founded in 1949. Due to its 2015 acquisition of the Irish-based Covidien, the business has its operational and executive offices in Minneapolis, Minnesota, and its legal headquarters in Ireland.The fourth quarter cash dividend for the fiscal year 2023 of $0.68 per common share, an increase of 8%, was approved by Medtronic plc's board of directors on March 2, 2023.
4. Nihon Kohden Company
Nihon Kohden Company, established on August 7, 1951, is a significant producer, developer, and distributor of medical electronic equipment with headquarters in Shinjuku City, Tokyo, Japan. Its products include EEGs, EMG measuring systems, ECGs, patient monitors, and clinical information systems. The Commitment of Nihon Kohden to Healthcare Throughout COVID-19
Nihon Kohden's acquisition of Advanced Medical Predictive Devices, Diagnostics and Displays, Inc. will advance developments towards better patient outcomes. The Nihon Kohden Digital Health Solutions Inc. brand replaces the Nihon Kohden USLab.
5. Smiths Medical, Inc
Smiths Medical, Inc. was founded in 1940 and designs and manufactures a full range of trustworthy products for use throughout the continuum of care. From our headquarters in Minneapolis, Minnesota, the United States, we assist patients and carers in creating the interpersonal and emotional bonds that improve clinical experience and are the foundation of exceptional quality-of-care. ICU Medical Inc. stated on January 6, 2022, that it has successfully acquired Smiths Medical from Smiths Group plc.
6. Koninklijke Philips N.V
Philips refers to the Dutch global conglomerate firm Koninklijke Philips N.V., which was established in Eindhoven in 1891. Although the Benelux headquarters are currently in Eindhoven, it has been mostly headquartered in Amsterdam since 1997. The research from Philips Future Health Index 2021 supports India's desire for healthcare to undergo a digital revolution. The organisation, which employs more than 20,000 people across 90 locations, is centred on research and development as it searches for gamechangers with the potential to significantly improve healthcare outcomes and costs nationwide, eventually enhancing people's lives.
7. F. hoffmann-la roche ltd
Roche is the brand name for F. Hoffmann-La Roche AG, a global healthcare conglomerate with two divisions: pharmaceuticals and diagnostics. Shares of Roche Holding AG, its holding company, are traded on the SIX Swiss Exchange. Basel is where the corporate headquarters are situated. Roche releases two novel antibodies on February 23, 2023, to detect significant clinical mutations in patients with brain tumours.
8. siemens healthcare gmbh
German-based Siemens Healthineers manufactures medical equipment. Its headquarters are in Erlangen, Germany, and it serves as the parent company for a number of medical technology businesses. Werner von Siemens co-founded a tiny family business in Berlin in 1847, which is where the corporation got its start. During IRIA 2022, Siemens Healthineers presents its most recent advancements in medical imaging. FREE MAGNETOM. Star is a disruptively straightforward method of MRI that revolutionises patient access to high-value therapy.
*Definition- Remote patient monitoring devices are used for digital collection of a person's medical health data from one location, and electronically transmit the information to health care providers in different location for recommendation and assessments.
