The Middle East & Africa remote patient monitoring systems market is expected to witness a CAGR of 13.2% during the forecast period, 2018-2023. Middle East was projected to have the highest share in 2017.
Rising Incidences of Chronic Diseases Due to Lifestyle Changes
According to World Health Organization, chronic diseases will account for about 42% of all the deaths in the African region by 2030, up from 25% in 2014. According to Health Authority Abu Dhabi (HAAD), in 2014, women accounted for around 45% of all cancer related deaths. Due to the increase in chronic diseases, there are more number of patients being affected, which requires more number of patient monitoring devices. These devices are used continuously for monitoring important parameters, like heart activity, body temperature, blood pressure, and other clinical conditions. Hence, physicians and healthcare providers are extending the use of remote patient monitoring systems, which is driving the remote patient monitoring system market.
The other factors include increase in aging population, need to contain healthcare expenditure, and demand for home-based monitoring devices.
Resistance from Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems
The unwillingness among healthcare professionals to adopt the new technologies is the major factor restraining the remote patient monitoring market. Remote patient monitoring systems pose a threat to the entire hospital and the healthcare set up. These devices are being adopted by the patients to reduce expenditure of hospitalization and follow-up care. This, in turn, is likely to reduce the revenue of the hospitals to a large extent. As a result, hospitals are resisting the adoption of patient monitoring systems. Hence, resistance from healthcare professionals to adopt the new technologies is acting as a major restraint to the remote patient monitoring market.
The other factors include stringent regulatory framework and lack of proper reimbursement.
Middle East Dominates the Market
Geographically, the market in the region is analyzed under various regions namely, Middle East and Africa. Africa is the leading market for this region, while Middle East is expected to grow at a high rate. The high population base and improved purchasing power of patients are the major factors driving the Middle East market.
Key Developments in the Market
- June 2017: Biotronik launched Edora Pacemaker Series with MRI AutoDetect Technology
Major Players: Alere, Boston Scientific, Biotronik, GE Healthcare, Honeywell International Inc., Medtronic, Intel, Intouch Technologies Inc., Nihon Kohden Corporation, and Philips Healthcare, among others
Reasons to Purchase the Report
- Current and future remote patient monitoring systems market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support ,along with the Market Estimate sheet (in excel)
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