Call to transcend the Geographical barriers to bolster the Remote Patient Monitoring Devices/Services market

Date : Mar 31, 2021 Author : PMR Editorial Staff Category : Healthcare

Medical science is subject to hoards of innovations like never before. With the number of long-term as well as short-term illnesses raising their heads all over, the medical field is constantly on the toes with respect to churning out several devices and equipment. With things taking a commercial turn all the way, compression therapy is being looked upon as an easy way out, but more through remote means (in process of making the world a global village).

Also, acne treatment is thought of being administered remotely. So, remote monitoring is expected to show stupendous growth with all its advantages overriding the conventional mode of treatment.

Market Diversification

Remote patient monitoring market, by type, spans software & services, devices (neurological monitoring devices, cardiac monitoring devices, multi-parameter monitoring devices, respiratory monitoring devices, blood glucose monitoring devices, neonatal & fetal monitoring devices, weight monitoring devices, and others.

By Geography

North America holds the largest market share, with the US being dominant herein. It holds more than 50% of the market share. This is also evident from the fact that the National Center for Biotechnology and Information, better known as NCBI, states that close to 6-7 Mn people all across the US do suffer from advanced stages of venous diseases. Europe is second-seeded, with the Asia-Pacific to rule in the forecast period. The basic reason for this is that of the region opening avenues for improvement in infrastructure all through.

Getting into the Competitive Mode

Key players in ophthalmic devices market include Carl Zeiss Meditec AG, Valeant Pharmaceuticals International, Inc., FCI Ophthalmics, Topcon Corporation, HAAG-Streit Holding AG, and so on. For compression therapy devices, there are Sigvaris, Medi GmbH & Co. KG, DJO Global, Inc., Convatec Inc., Cardinal Health, BSN Medical, 3M Company, Tactile Medical, and likewise. For arrhythmia monitoring devices, there are Abbott, Medtronic PLC, GE Healthcare, and ACS Diagnostics. For treating acne, they are Botanix and Allergan in particular.

The ailments mentioned above do need one-on-one attention, but the fact that these days remote monitoring is taking over (as mentioned above) can’t be ignored. Some of the companies doing wonders in remote patient monitoring services/devices market include Medtronic, Cerner Corporation, Boston Scientific Corporation, Resideo Life Care Solutions, Bio-Beat Technologies, iRhythm Technologies, Inc., Welch Allyn, and many more. Coming to developments, Philips, in the year 2020, did launch Avalon CL Fetal and Maternal Pod and Patch to remotely monitor the health of would-be mothers in Australia, Europe, the US, Singapore, and New Zealand.

In the same year, On Demand RPM (Remote Patient Monitoring) was acquired by BioTelemetry. It also went on to acquire the coaching platform. Envolve People Care, Inc. operates the two of them. The focus area is hypertension, diabetes, heart-related ailments. However, there are relentless efforts being made to facilitate eye care through remote monitoring. Acne treatment is also being looked upon as a promising area in this regard.