REMOTE PATIENT MONITORING DEVICES MARKET ANALYSIS

Remote Patient Monitoring Devices Market, By Device Type (Cardiac Monitoring Devices, Respiratory Monitoring Devices, Blood Glucose Monitoring Devices , Blood Pressure Monitoring Devices, Neuro-monitoring Device, Multi-parameter Monitor, and Other Devices), By Application (Oncology, Cardiology, Hypertension, Chronic Respiratory Diseases, Neurology, Diabetes, and Others), By End User (Home Healthcare Settings, Hospitals & Clinics, Ambulatory Care Centers, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Mar 2024
Code : CMI215
Pages :165
Formats :
Excel and PDF
Industry : Medical Devices

Regional Analysis

Remote Patient Monitoring Devices Market Regional Insights

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North America dominates the global remote patient monitoring devices market currently due to a strong healthcare infrastructure and rising prevalence of chronic diseases in the region and is anticipated to hold 43.6% of the market share in 2024. The U.S. accounts for the largest share mainly because of the growing need to reduce healthcare costs and increasing insurance coverage in the country. Many leading players operating in remote patient monitoring devices market such as Medtronic, Philips, and GE Healthcare have their headquarters in the U.S., giving North America an edge in terms of technology availability and product innovation. Besides, favorable regulatory environment and reimbursement policies have ensured wider adoption of remote monitoring solutions in the region over the past few years.

Asia Pacific is poised to be the fastest growing market for remote patient monitoring devices globally over the next few years. Countries like China, India, Japan, and South Korea are expected to offer the highest growth potential owing to the rapidly expanding medical technologies industry, growing healthcare expenditure, and increasing patient awareness levels. Additionally, rising geriatric population suffering from chronic illnesses, improving accessibility of Internet-based telehealth solutions, and supportive government policies aimed at modernizing the healthcare infrastructure are further fueling the market growth. Several global companies have also started establishing manufacturing facilities or engaging in partnerships with regional MedTech players to tap into opportunities in the Asia Pacific region.