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The market is segmented by Type (Heart Monitors, Breath Monitors, Hematology Monitors, Multi-Parameter Monitors, Other Types of Devices), Application, End-User, and Geography.
The remote patient monitoring market in North America region is growing at a rapid pace and certain factors that are driving this growth include rising incidence of chronic diseases due to the lifestyle changes in the region, increase in the aging population and need to reduce the healthcare expenditure.
The United States, being the largest economy in this region, the country's population trend largely affects the growth of the market studied in both, positive and negative manner. For instance, the rising geriatric population in the United States is acting as a growth factor for the use of patient monitoring devices. According to the United States Bureau data, the number of Americans aged 65 years and above is projected to become more than double (from 46 million in 2016 to over 98 million by 2060), and the 65-and-older age group’s share of the total population is likely to rise to nearly 24% from 15%. The growing geriatric population is more prone to diseases, which increases the usage of remote monitoring devices. Thus, the increase in the aging population is expected to boost the remote patient monitoring market in North America region.
Remote patient monitoring (RPM) refers to technologies involved in monitoring patients from a distant setting. The RPM devices are used for monitoring patients’ vital statistics and other diagnostic markers. The devices can either store such data, which can be later accessed by relevant healthcare personnel, or is directly transmitted to remote servers for physicians' access.
|By Type of Device|
|Other Types of Devices|
|Weight Management and Fitness Monitoring|
|By End User|
|Home Care Settings|
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Heart disease is the leading cause of death for both men and women across the globe. According to the data provided CDC, coronary heart disease is the most common type of heart disease, killing over 370,000 people, annually. People have become more concerned about their health, especially regarding heart diseases, and hence, they are adopting preventive care. This has increased the demand for heart rate monitors in this region.
It is estimated that approximately every year, about 735,000 Americans have a heart attack, out of which, 210,000 have already had a heart attack. Moreover, neither the cardiac patients who have been hospitalized for more than six months in a year nor senior citizens can be taken to the hospital every now and then to measure their heart rate.
As is evident from the above-mentioned statistics, coronary conditions in the United States is a huge driver for the growth of the heart monitor segment in the North America region.
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The market for patient monitoring systems in the North America region is moderately competitive and consists of the global as well as local players. Some of the major players that are actively present in this region are Boston Scientific, Becton Dickinson and Company, Medtronic, Koninklijke Philips N.V., GE Healthcare, among others.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes
4.2.2 Increase in the Aging Population
4.2.3 Need to Contain Healthcare Expenditure
4.3 Market Restraints
4.3.1 Resistance from the Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems
4.3.2 Stringent Regulatory Framework
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Device
5.1.1 Heart Monitors
5.1.2 Breath Monitors
5.1.3 Hematology Monitors
5.1.4 Multi-Parameter Monitors
5.1.5 Other Types of Devices
5.2 By Application
5.2.1 Cancer Treatment
5.2.2 Cardiovascular Diseases
5.2.3 Diabetes Treatment
5.2.4 Sleep Disorder
5.2.5 Weight Management and Fitness Monitoring
5.2.6 Other Applications
5.3 By End User
5.3.1 Home Care Settings
5.4.1 North America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Boston Scientific
6.1.3 Drager Medical
6.1.4 GE Healthcare
6.1.5 Koninklijke Philips N.V.
6.1.7 Medtronic Plc
6.1.8 Smiths Medical
6.1.9 Welch Allyn
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments