According to Stratistics MRC,the Global Wireless Patient Monitoring Market is accounted for $xx million in 2016 and expected to grow at a CAGR of xx% to reach $xx million by 2023.
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Factors attributing the market growth are shortage of doctors and nurses, therapeutic treatment and growing incidence of cardiovascular disease, technological advancements in data recording, rise in the healthcare needs of the geriatric population. However, the lack of reimbursement, high cost and incapability to alert the caregiver for any complication are the restraints for the market growth. However, the increasing awareness for telemedicine and the replacement of older equipment with new wireless ones is likely to create an opportunity for the market. Security for the mobile monitoring devices, medico-legal issues and cost-effectiveness are few challenges witnessed by the market.
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Based on application, for Diabetes Monitoring Device, the sensor implanted in the body identifies the level of glucose in blood. Recent developments in implantable sensors, can be used to incorporate insulin pumps, which allow for instant insulin administration. Consequently, there is high consumer demand for a continuous glucose monitoring system. Abbott launched the FreeStyle Navigator II CGM system in 2011 in some European countries.
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Based on Product, Cardiac Monitoring System provides physicians the means to prescribe ambulatory cardiac monitoring procedures completely through wireless for their patients. The FDA cleared a portable cardiac monitoring device that offers ECG technology and a digital stethoscope for patients with heart disease. There are several FDA-approved ECG patch monitoring devices currently available. CardioMEMS is a passive, wireless, radiofrequency sensor implanted into the pulmonary artery that continuously monitors pulmonary artery pressure.
North America will dominate the market due to high purchasing power. Asia Pacific is expected to increase significantly due to increasing number of medical interventions.
Some of the key players in Global Wireless Patient Monitoring market are American TeleCare, Cardiocom, Carematix, Cybernet Medical Corporation, Drager Medical, GE Healthcare, Globalmedia Group, Honeywell HomMed, Infinium Medical, LifeWatch Technologies, MedtronicsInc, Philips Healthcare, St. Jude Medical and Welch Allyn.
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• Diabetes Monitoring Device
• Coronary Heart Disease Monitoring Device
• Congestive Heart Failure Monitoring Device
• Chronic Obstructive Pulmonary Disease Monitoring
• Cancer Monitoring Device
• Asthma Monitoring
• Other Disease Monitoring
End Users Covered:
• Nursing Homes
• Home Healthcare
• Other End Users
• Respiratory Monitoring Devices
• Hematological Monitors
• Cardiac Monitoring Devices
• Multi-sign Monitors
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
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– Strategic recommendations in key business segments based on the market estimations
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