Market Research Report
Europe Remote Patient Monitoring Systems Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||660986|
|Published||Content info||69 Pages
Delivery time: 2-3 business days
|Europe Remote Patient Monitoring Systems Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: June 1, 2019||Content info: 69 Pages||
The Europe remote patient monitoring systems market is expected to witness a healthy CAGR during the forecast period. Major factors such as rising incidences of chronic diseases due to lifestyle changes, increase in aging population, demand for home-based monitoring devices, ease of use and portability of devices are likely to promote the growth of remote patient monitoring systems market in Europe region. However factors like, resistance from healthcare industry professionals toward the adoption of patient monitoring systems in developing regions, stringent regulatory framework, high cost of technology are the few factors impeding the growth of remote patient monitoring systems market in Europe region.
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.
Home Care Settings Segment is Estimated to Dominate Among the End Users in this Market
People often need to track their personal health more efficiently and monitor the status of another individual periodically and remotely. Periodic reports and immediate alerts for any sudden changes in the health of a sick person at home may give an opportunity to act quickly and save the life of the person in danger.
The latest trend is the shift of treatment from hospitals to home, in order to reduce the hospital bills. Patients prefer home healthcare because of cost-effectiveness, privacy, and convenience. The home healthcare market involves various devices and solutions that offer cost-effective ways to treat or diagnose chronic disorders. Moreover, the advancements from treatment towards monitoring are providing new opportunities for market growth. The technological advancements assisting the ease of use, increasing chronic disorders favoring the direct sales of home healthcare equipment and increasing healthcare costs demanding for affordable home care solutions are the major factors that are driving the market growth.
The Europe remote patient monitoring market is moderately fragmented and various medical device manufacturers are operating in the market along with several specialized remote patient monitoring equipment manufacturers. The industry is highly competitive and there is a growing trend of partnerships and agreements between the industry participants and other medical device manufacturers in order to incorporate remote patient monitoring functionalities in their devices.