Product ID: SQMIG35G2120
Global Remote Patient Monitoring Market Size, Share, Growth Analysis, By Product(Vital Sign Monitors, Special Monitors), By Application(Cancer, Cardiovascular Diseases), By End-Use(Hospital-based Patients, Ambulatory Patients) - Industry Forecast 2024-2031
Report ID:
SQMIG35G2120 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
96 |
Figures:
76
Global Remote Patient Monitoring Market Dynamics
Remote Patient Monitoring Market Drivers
Growing adoption of Internet of Things (IoT) in remote monitoring devices to drive market growth
- The implementation of IoT components into medical equipment has made it possible to provide patients and the older population with chronic illnesses with care that is better quality and more efficient. Sensors, actuators, Bluetooth connectivity, and other communication tools have made it possible for patients and families to effortlessly communicate data to the doctor via a cloud-based platform.
- Thus, there is a growing demand for ongoing vital sign monitoring and efficient illness management. For instance, remote patient monitoring improves patient participation for managing chronic illnesses, according to a study published in the Journal of American Medical Informatics Association (JAMIA). Thus, it is projected that the older population's adoption of remote systems to prevent frequent hospital visits will propel market expansion throughout the anticipated period.
Remote Patient Monitoring Market Restraints
Lack of accessibility to remote monitoring solutions in developing countries
- Despite the rising demand for remote monitoring solutions, it is projected that the lack of device and software adoption in low- and middle-income countries will restrain market growth throughout the forecast period. One aspect of the fall in usage in these countries is the high implementation cost of remote patient monitoring systems. The adoption of these solutions needs appropriate funding, providers, and IT staff to ensure a smooth transition and the provision of high-quality patient care. For instance, the Journal of Telemedicine and Telecare reported that the annual cost per patient for equipment purchases, servicing, and monitoring ranged from USD 275 to USD 7,963.
Global Remote Patient Monitoring Market Report Snapshots
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