Remote Patient Monitoring Devices And Equipment Global Market Report 2020 REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The remote patient monitoring devices and equipment market consists of sales of remote patient monitoring devices and equipment and related services. Remote patient monitoring devices and equipment allow a patient to use a mobile medical device for undergoing a routine test and send the test data to a healthcare expert in real-time. The global remote patient monitoring devices and equipment market was valued at about USD 1.5 billion in 2018 and is expected to grow to USD 2.7 billion at a CAGR of 15.8% through 2022. North America was the largest region in the remote patient monitoring devices and equipment market in 2018, followed by Europe. This region is expected to remain the largest during the next five years. The remote patient monitoring devices and equipment market in Asia Pacific and is forecasted to register the highest CAGR during 2018-2023. The upcoming shortage of skilled healthcare professionals (doctors and nurses), drives the remote patient monitoring (RPM) devices and equipment market. As the number of patients with chronic diseases are increasing, it is getting difficult to monitor the patients due to operational time and cost related issues. The rising number of patients with chronic diseases, increasing need for monitoring and projected shortfall in the number of nurses in the near future increases the growth of remote patient monitoring devices and equipment. According to a report by Mercer, the US require 2.3 million new health care workers by 2025; this includes nurses, physicians, lab technicians and various other healthcare personnel. According to the Bureau of Labor Statistics, there is an additional need for 203,700 new registered nurses every year by 2026. However, only 438,100 nurses are expected to be added from2016 to 2026, which is way less than the demand. World Health Organization (WHO) projected that by 2030, low- and middle-income countries will have a deficit of 14.5 million healthcare professionals. The remote patient monitoring devices market is limited, as healthcare professionals are averse to adopt new technologies. Technologically advanced remote patient monitoring devices and equipment are adopted to reduce patient’s expenditure on hospitalization in terms of follow-up care. Rise of such adoption results in reduction of hospital revenues. Therefore, hospitals and healthcare professionals resisted the adoption of remote patient monitoring systems and are limiting the market. For instance, in 2016, a case study in the UK states, organizational barriers at various levels, technical, social, ethical, financial, and legal factors are restraining to invest, implement and use advanced patient monitoring systems. Remote patient monitoring device manufacturers are increasingly integrating IoT and wireless technology with remote patient monitoring devices to efficiently diagnose and treat medical conditions. Wireless sensor technology such as biosensor monitoring devices are multi sensor systems implanted or embedded into the skin, consisting of a sensor that transmits data for real time monitoring of patient’s medical condition. IoT technology enable healthcare service providers to remotely monitor patients’ health parameters. These devices are miniaturized multi-sensing devices, aiding healthcare professionals to monitor blood pressure, blood glucose levels and physiological parameters and recommend appropriate treatment. Major companies offering IoT and wireless sensor technology integrated patient monitoring devices include Xsensio, InSilixa, 1Drop Diagnostics, Kenzen. The remote patient monitoring device and equipment manufacturers must comply with the rules and regulations of the Health Insurance Portability and Accountability Act (HIPAA). These HIPAA regulations secure definitions of network, take physical security and process security measures regarding the Protected Health Information (PHI). The Title II of HIPPA directs the Health and Human Services (HHS) of U.S Department to manifest national standards for the exchange of electronic healthcare data and information. In 2016, Health and Human Services (HHS) Office for Civil Rights (OCR), issued guidance by clarifying that cloud service providers and other business associates of healthcare organizations are covered by the HIPAA privacy, security and breach notification rules for safe and secure electronic data interchange. In 2018, ResMed acquired Propeller Health for USD 225 Million. With this acquisition, ResMed broadened its portfolio into the Respiratory Care market and strengthened its market position in digital health for chronic obstructive pulmonary disease (COPD). Propeller Health is a medical device and digital therapeutics manufacturing company that designs remote patient monitoring devices for treating chronic respiratory disease. Propeller Health was established in the year 2007 and is headquarters in Madison, USA. Major players in the market are Philips Healthcare, Honeywell, GE Healthcare, Medtronic and Boston Scientific. Post Views: 2 Tags: Global Remote Patient Monitoring Devices And Equipment Market, Global Remote Patient Monitoring Devices And Equipment Market Analysis, Global Remote Patient Monitoring Devices And Equipment Market Forecast