Remote patient monitoring systems refer to a technology that enable monitoring of patients outside the conventional clinic or hospital premises. The main concept behind remote patient monitoring is to avoid the inconvenience caused to critical patients. Advanced remote patient monitoring systems include sophisticated peripherals that facilitate real time audio and video service. This enables face to face interaction between the patients and medicine professionals. These systems are highly useful as it reduces the travel time of patients to clinics and improves the medical consultation. This can reduce mortality rates and enable efficient use of medical resources. The connectivity between the patients and medical professionals is attained using wireless technologies such as wireless local area networks (WLAN) and cellular networks. Advanced remote patient monitoring systems helps in avoiding emergency overcrowding, manage large number of patients and improved maintenance of electronic health records (EHR).
 
One of the major factors driving the advanced remote patient monitoring systems market is low treatment costs. Advanced remote patient monitoring systems reduce the expenses such as hospital admissions, travelling costs and others. Increasing number of patients with diseases such as diabetes, congestive heart diseases and others is major factor driving the demand for advanced and cost effective healthcare solutions. Monitoring systems deliver low cost, fast and reliable consulting of these diseases as compared to conventional consulting. Furthermore, advanced remote patient monitoring systems help the medical professional to monitor number of patients simultaneously from one place. This enables increased coverage of patient monitoring with less number of medical personnel. 
 
With continuous monitoring of patients, the medical professionals can diagnose serious disorders in an early stage. This leads to improved patient care and reduced mortality rate. Furthermore, increasing adoption of mobile devices such as smartphones, tablet personal computers (PCs) and others is another factor boosting the advanced remote patient monitoring systems market.
 
The advanced remote patient monitoring systems market is segmented based on the type of monitoring, end-user and geographic regions. The different types of monitoring include vital signs monitoring, diagnostic monitoring and specialized monitoring. Vital sign monitoring comprises blood pressure, pulse oximeters and other physical parameters. Diagnostic monitoring includes electrocardiogram (ECG) and others. Specialized monitoring includes disease specific monitoring such as anesthesia, diabetes - glucose, cardiac rhythm, respiratory and other disorder monitoring. The advanced remote patient monitoring systems market is segmented based on end-users as hospital based patients and telemedicine patients. Geographically, the advanced remote patient monitoring systems market is segmented into four major regions as North America, Europe, Asia Pacific and Rest of the World (RoW). At present, North America accounts for the largest share in terms of revenue in advanced remote patient monitoring systems market. This is mainly due to rising lifestyle diseases such as atherosclerosis, asthma, osteoporosis and other heart diseases. Additionally, availability of sophisticated monitoring devices is another factor responsible for this growth. North America is expected to remain the dominant market for the next few years owing to high investment in healthcare sector.
 
Some of the leading players in advanced remote patient monitoring systems market include Abbott Laboratories, Drager Medical GmbH, Covidien Ltd., GE Healthcare, Masimo Corporation, Johnson and Johnson Inc., Mindray Medical International Ltd., Natus Medical Inc., Mortara Instrument Inc., Nihon Kohden Corporation, Omron Healthcare Co. Ltd., Nonin Medical Inc., Koninklijke Philips N.V., Roche Diagnostics Ltd. and others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Advanced Remote Patient Monitoring Systems