#PARADIGM SHIFT 2027 SOFTWARE#

The major competitors in the market are focusing their efforts on reducing the size of the remote patient monitoring market. With many top companies in the global market and several small players in regional markets, the global remote patient monitoring market is somewhat fragmented. An increase in heart ailments, sedentary lifestyles, and the deployment of e-health in some rural areas of North America is expected to drive the market growth. The industry is driven by rising healthcare spending and increased awareness about the benefits of sickness prevention. The presence of substantial competitors and their growth strategies are the main factors driving the North American market. North America accounted for a significant 40% of the global market for remote patient monitoring market share in 2021.

Thus, the high prevalence of cardiac disorder is expected to drive the segment. For instance, according to CDC, 30.3 million US adults were identified with heart disorders in 2018. The cardiac monitor segment accounted for the maximum share in the remote patient monitoring market. The cardiac monitoring market is further propelled by innovative product characteristics, as well as the increased need and demand for virtual care solutions in the COVID-19 era. With the emergence of connected cardiac implants, cardiology was one of the first specialties to incorporate RPM.Ĭardiology practices are now particularly well-positioned to gain the short and long-term benefits associated with the progression of RPM services, technology, and regulation.

#PARADIGM SHIFT 2027 SOFTWARE#

The Devices and Software segment accounted for the largest share in the global remote patient monitoring market. Philips has added the BioIntelliSense sensor to the device for remotely usage. In July 2020, Philips and BioIntelliSense teamed together to improve remote patient monitoring systems for at-risk patients from the hospital to their homes. The company's Stasis system monitors important vital parameters in its functioning. In August 2020, Stasis Labs introduced a mobile-connected remote patient monitoring technology in hospitals and outpatient settings in the US. RPM reduces the number of readmissions in the medical requirement, hospitalizations, and duration of stay in the hospital, which leads to improved quality of life and contain costs.

Paradigm shift 2027