Market Research Report
North America Remote Patient Monitoring Devices Market to 2027 - Regional Analysis and Forecasts by Product, Application End User, and Country
|Published by||The Insight Partners||Product code||862101|
|Published||Content info||162 Pages
Delivery time: 1-2 business days
|North America Remote Patient Monitoring Devices Market to 2027 - Regional Analysis and Forecasts by Product, Application End User, and Country|
|Published: May 15, 2019||Content info: 162 Pages||
The North America Remote Patient Monitoring Devices market is expected to reach US$ 604.07 Mn in 2027 from US$ 273.75 Mn in 2018. The market is estimated to grow with a CAGR of 9.5% from 2019-2027.
The growth of the remote patient monitoring devices market is primarily attributed due to the increase in the demand of remote patient monitoring devices from hospitals & clinics and home healthcare in the US, the rise in the geriatric population in U.S., rising adoption of meaning use act, the increasing prevalence of the cardiovascular disease population in U.S. and Mexico.
The elderly population is defined as group of people aged 65 and over. Aging population is poised to become one of the most significant social transformations of the twenty-first century. The geriatric population has been increasing rapidly across the globe. According to the data published by the United Nations, in 2017, there were an estimated 962 million people aged 60 or over in the world, which comprised of 13 per cent of the global population. The geriatric population is estimated to grow at a rate of 3% every year.
The geriatric population in the North America in 2015 were approximate to 15% and is estimated to grow 22% by 2050, the elderly population in 2015 were approximate to the 17% and is expected to reach 27% by 2050, and similarly the data was given for the Asia Pacific which revealed that the geriatric population was near about 8% and is expected to double with 9% by 2050.
US is anticipated to lead the adoptions of Remote Patient Monitoring Devices across the North American region through the forecast period. The market growth is attributed due to various factors such as rise prevalence in the cardiovascular disease, increase in the demand of remote patient monitoring devices from hospitals & clinics and home healthcare in the US, the rise in the geriatric population in U.S., rising adoption of meaning use act. However, resistance from healthcare industry professionals toward the adoption of patient monitoring systems is restraining the remote patient monitoring devices market.
The increasing demand from US population for the home-based treatment where the patient can measure their health by themselves has propelled the demand of remote patient monitoring devices. Nowadays wearable devices such as pulse monitoring bands, continuous glucose meters, blood pressure monitors keeps a track of the patient's activities throughout the day and stores it in the connected smart device and then transfers the data to the physician.