Remote Patient Monitoring Software Market Size, Industry Trends and Forecast to 2029
A detailed Remote Patient Monitoring Software Market research report offers data and insights into the current scenario, enabling businesses to stay ahead in today's rapidly changing business environment. Formulated using top-notch analytical methods such as SWOT analysis and Porter’s Five Forces analysis, this report meticulously analyses and evaluates both primary and secondary research data. Additionally, the successful Remote Patient Monitoring Software market research report conducts a thorough examination of the market's potential, considering both the present situation and future prospects, and takes into account all relevant industry aspects.
Data Bridge Market Research analyses that the remote patient monitoring software market projected to grow during the forecast period 2022 to 2029.
Top Industry Players:
Some of the major players operating in the remote patient monitoring software market are:
NIHON KOHDEN CORPORATION (Japan)
Capsule Technologies, Inc. (U.S.)
Honeywell International Inc. (U.S.)
Welch Allyn (U.S.)
Medtronic (Ireland)
Abbott (U.S.)
Intelesens Ltd. (U.K.)
BIOTRONIK SE & Co. KG (Germany)
Aerotel Medical Systems Ltd. (Israel)
General Electric (U.S.)
Boston Scientific Corporation (U.S.)
Koninklijke Philips N.V. (Netherlands)
Market Segmentation:
Global Remote Patient Monitoring Software Market Dynamics
Drivers
Increasingly wearable patient monitoring devices is a determinant
Wearable patient monitoring devices, biosensors and smart implants are used for a wide range of applications, including continuous glucose monitoring, temperature monitoring, blood pressure monitoring, and pulse oximetry. Next-generation wearable devices incorporate internet of things technology. Wearable biosensors collect vital signs such as blood pressure, weight, blood sugar, and electrocardiography (ECG), which are then transmitted via mobile wireless networks to a central server. These are the certain factors which drives the growth of the market.
Quality healthcare at home is driving the growth
RPM technologies come into play, detecting minute changes in the patient's physiological data and encouraging self-monitoring. As a result, readmissions and avoidable hospitalizations are reduced. Furthermore, these technologies reduce the number of unnecessary doctor's office visits as well as the travel-related costs associated with receiving quality medical care. When properly implemented, RPM technologies can increase access to quality healthcare while saving time and money in the short and long term.
Opportunities
Rising healthcare costs has shifted the focus
Rising healthcare costs, particularly in hospital settings, have shifted focus in recent years to alternative methods of treatment, such as home healthcare. As a result, effective home-use devices such as thermometers, pulse oximeters, weight scales, ECG monitors, event monitors, EEG recorders, and foetal monitors are in high demand. The sustainability of the current healthcare system is a major source of concern for governments all over the world.
Restraints/Challenges
Shortages of healthcare industry professionals
Dearth of proper reimbursement and strict regulatory framework, shortages of healthcare industry professionals, as well as unfavourable reimbursement policies will obstruct the market's growth rate.
This remote patient monitoring software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the remote patient monitoring software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Remote Patient Monitoring Software Market
As a result of the pandemic, access to customers for selling and implementing patient monitoring devices (such as neuromonitoring devices and weight monitoring devices) decreased in March 2020 and throughout the second quarter of 2020, as hospitals became preoccupied with the COVID-19 pandemic. The pandemic has resulted in an increase in demand for remote monitoring and patient engagement solutions. COVID-19 has increased demand for patient monitoring systems significantly, with manufacturers increasingly focusing on expanding production to meet the growing demand for respiratory monitoring devices, multi-parameter monitoring devices, blood glucose monitoring devices, cardiac monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, and fetal/neonatal monitoring devices. Furthermore, the neuromonitoring device market is expected to recover its losses in near future.
Recent developments
In July 2020, Philips and BioIntelliSense announced a strategic collaboration to improve remote patient monitoring solutions. Philips added the BioSticker device from the latter to its portfolio of remote patient monitoring (RPM) devices, which monitor chronic conditions.
In July 2020, BioTelemetry acquired the On.Demand remote patient monitoring (RPM) platform run by Envolve People Care Inc., a Centene Corporation subsidiary. This acquisition expands BioTelemetry's current portfolio of acute care connected health products and services to include chronic remote patient monitoring solutions, with a focus on diabetes, hypertension, and chronic heart failure.
The reputable Remote Patient Monitoring Software market report conducts a thorough competitive analysis, encompassing strategic profiling of key market players. It delves into their core competencies, strengths, weaknesses, and the overall competitive landscape. This in-depth examination supports businesses in illustrating their individual strategies effectively. The market research data provided in this report serves as a valuable resource for businesses in the planning of strategies related to investment, revenue generation, production, product launches, costing, inventory, purchasing, and marketing. With unwavering devotion and commitment, the Remote Patient Monitoring Software market survey report is presented with the utmost realism, offering trustworthy services and recommendations that businesses can confidently rely on.
Browse the Report Description:
https://www.databridgemarketresearch.com/reports/global-remote-patient-monitoring-software-market
Strategic Points from Table of Content:
– Market Summary
– Economic Impact Competition Analysis by Players
– Production, Revenue (Value) by geographical segmentation
– Remote Patient Monitoring Software Market Size by Type and Application
– Regional Market Status and Outlook
– Remote Patient Monitoring Software Market Analysis and Outlook
– Market Forecast by Region, Type, and Application
– Cost Investigation, Market Dynamics
– Marketing Strategy comprehension, Distributors and Traders
– Market Effect Factor Analysis
– Research Finding/ Conclusion
– Appendix
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