South America Remote Patient Monitoring Systems Market- Growth, Trends, and Forecasts (2020 – 2025)

The South America Remote Patient Monitoring Systems Market is segmented by Type of Device (Heart Monitors, Breath Monitors, Hematology Monitors, Others), Application, End-User, and Geography

Market Snapshot

CAGR
Study Period: 2017-2025
Base Year: 2019
CAGR: 5.2 %

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Market Overview

The key factors propelling the growth of the market are the rising burden of chronic diseases due to lifestyle changes, growth in the geriatric population, growing preference for home and remote monitoring, and ease of use and portability devices to promote growth. The remote patient monitoring (RPM) is a category of ambulatory healthcare that permits a patient to use a mobile medical device to accomplish a routine test and guide the test data to a healthcare expert in real-time. They are also compact and portable and the patients can wear it all the time without unease. 

Furthermore, the increasing chronic conditions burden in the region is fueling the market growth. For instance, about 1.3 million new cancer cases and 666,000 cancer deaths were estimated to have occurred in 2018 in Latin America and the Caribbean according to the Cancer Atlas report. Therefore the use of these devices ensures that the patient’s condition is monitored all the time. Moreover, the need to maintain the average healthcare expenditure is one of the major reasons for the growth of the market.

Scope of the report

As per the scope of the report, remote patient monitoring technology comprises day-to-day monitoring devices, such as glucometers for patients with diabetes and heart or blood pressure monitors for patients getting cardiac care. Information can be sent to a physician's workplace by using telehealth communication links, by using a software application installed on the patient's internet-capable computer, smartphone, or tablet.

By Type of Device
Heart Monitors
Breath Monitors
Hematology Monitors
Others
By Application
Cancer Treatment
Cardiovascular Diseases
Diabetes Treatment
Other Application
By End User
Home Care Settings
Hospital/Clinics
Other End Users
Geography
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Heart Monitors Segment is Expected to Grow Fastest Over the Forecast Period

A cardiac monitor, also known as a heart monitor, is a device that allows for the continuous monitoring of the heart’s activity through electrocardiography. Heart monitors are used more frequently these days as the electrocardiogram is not able to detect the irregularities in your heart rhythm because you're hooked up to the machine for only a short time. Moreover, heart monitor may be able to detect irregularities in your heart rhythm that an electrocardiogram can’t detect. According to the World Heart Federation, approximately 89.6 million were affected by Cancer in the region that is 27.7% of the adult population. Therefore the increasing prevalence of cardiac disorders in the region is boosting the market growth.

Furthermore, their high capability to monitor various chronic conditions, such as diabetes, cardiovascular conditions, and cancer, is expected to fuel the demand for remote patient monitoring systems.

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Competitive Landscape

The South America Remote Patient Monitoring Systems Market is moderately competitive with the presence of global as well as local players. The global enterprises are competing with each other on various fronts, such as the introduction of new products, increasing geographical penetration, and enhancing distribution channels. The high competition is expected to drive the merger and acquisition activities, thereby leading to market consolidation, in a few business segments.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Prevalence of Chronic Diseases and Growing Geriatric population

      2. 4.2.2 Growing Demand for Home-based Monitoring Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulatory Framework Coupled with Lack of Proper Reimbursement

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type of Device

      1. 5.1.1 Heart Monitors

      2. 5.1.2 Breath Monitors

      3. 5.1.3 Hematology Monitors

      4. 5.1.4 Others

    2. 5.2 By Application

      1. 5.2.1 Cancer Treatment

      2. 5.2.2 Cardiovascular Diseases

      3. 5.2.3 Diabetes Treatment

      4. 5.2.4 Other Application

    3. 5.3 By End User

      1. 5.3.1 Home Care Settings

      2. 5.3.2 Hospital/Clinics

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 South America

        1. 5.4.1.1 Brazil

        2. 5.4.1.2 Argentina

        3. 5.4.1.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Medtronic PLC

      3. 6.1.3 GE Healthcare

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 Omron Corporation

      6. 6.1.6 Baxter International Inc.

      7. 6.1.7 Masimo Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The South America Remote Patient Monitoring Systems Market market is studied from 2017 - 2025.

The South America Remote Patient Monitoring Systems Market is growing at a CAGR of 5.2% over the next 5 years.

Abbott Laboratories, Medtronic PLC, GE Healthcare, Boston Scientific Corporation, Omron Corporation are the major companies operating in South America Remote Patient Monitoring Systems Market.

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