Market Research Report
Asia-Pacific Remote Patient Monitoring Systems Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||660985|
|Published||Content info||86 Pages
Delivery time: 2-3 business days
|Asia-Pacific Remote Patient Monitoring Systems Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: February 1, 2019||Content info: 86 Pages||
The Asia-Pacific remote monitoring systems market is projected to register a CAGR of almost 12.9%, over the forecast period. Certain factors that are propelling the growth of the market are the rising incidences of chronic diseases due to lifestyle changes, increase in the aging population, need to contain healthcare expenditure, demand for home-based monitoring devices, and ease of use and portability devices to promote the growth.
The adoption of various home-based monitoring devices has helped in the growth of the healthcare industry, drastically. The switch toward home care and preventive care has led to the higher acceptance of remote patient monitoring devices. With the help of these devices, the patients can keep a track of their well-being and the doctors can offer accurate diagnosis. These devices are also helping patients recover better after surgeries and during treatments. However, a paradigm shift toward home-based monitoring is increasing, which is driving the remote patient monitoring systems market.
Remote patient monitoring is a technology, which helps in the monitoring of patients outside of a usual hospital or clinical facilities. This helps in increasing the access to care and decreasing the healthcare delivery costs.
Heart Monitors are Expected to Witness the Highest CAGR over the Forecast Period
With the advancements in technology and rapid adoption of digital healthcare in developing countries, there is a huge demand for remote monitoring devices. Among these devices or systems, heart monitors have a huge demand across developing countries, such as India and China.
The rising prevalence of heart diseases in the Asia-Pacific region is one of the major factors contributing to the huge demand for heart monitors. According to the World Health Organization, around 26.2% of deaths in the Asia-Pacific region are associated with cardiovascular diseases. Furthermore, the prevalence of hypertension in the region is approximately 16-18%.
Owing to the rising number of people suffering from medical issues, such as hypertension, blood pressure fluctuations, heart failure, etc., the demand for remote monitoring devices is increasing.
Japan Dominates the Market and is Expected to Follow the Same Trend over Forecast Period
Geographically, the Asian market has been segmented under various regions, namely, China, Japan, India, Australia & New Zealand, and South Korea. Currently, Japan dominates the Asia-Pacific patient monitoring system market, which is followed by China, India, and South Korea. The market is majorly driven by factors, like the increasing number of chronic disease in Asia-Pacific, as two in three deaths were caused due to chronic disease.
The Asia-Pacific remote patient monitoring market is moderately competitive and inclusive of the major players, such as GE Healthcare, Abbott Laboratories, Baxter, Boston Scientific, and Omron Healthcare.
Due to the growing digital healthcare market, small players are also focusing on entering the market, and are anticipated to grab a substantial market share in the coming future.