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Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016

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Remote Patient Monitoring - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016


The Global Remote Patient Monitoring Market is Forecast to Reach $556.9m in 2016 after Growing at a CAGR of 10% During 2009-2016

The global remote patient monitoring (RPM) market is expected to grow at a CAGR of 10% from 2009 to reach $556.9m in 2016. The market for RPM is expected to grow due to the continuous increase in the number of patients suffering from chronic diseases such as cardiovascular disease (CVD) and diabetes. Furthermore, the rise in the elderly population in developed countries will also propel the RPM market as older patients tend to prefer in house monitoring as it reduces waiting and traveling time. This rise in chronic diseases would lead to an increase in the healthcare expenditure and would in turn increase pressure on governments and healthcare providers to find alternatives to reduce healthcare costs. RPM has been indicated to reduce the number of clinic visits and healthcare expenditure to a considerable extent, and so there would be greater incentives for governments to increase the usage of RPM. This trend is evident in the US where the Center for Technology and Aging announced in January 2010 a program called Remote Patient Monitoring Diffusion Grants Program to encourage the use of RPM among healthcare organizations.

The global cardio RPM market is the largest segment in the RPM market and is expected to grow at a CAGR of 11% to reach $399.9m in 2016. The increase in the growth of cardio RPM will be linked to the rise in CVD. This rise in CVD


indicates a shift in the rate of growth of patients with CVD from developed economies to emerging economies.However, the major share of the cardio RPM market would be from the US and Europe region where the level of penetration of RPM is much higher.

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Reduced Clinic Visits to Drive the Remote Patient Monitoring Market in Future

RPM has the potential to reduce numbers of clinic visits, which would be a primary driver for the market. Research studies conducted by Biotronik and Medtronic indicate that remote monitoring was preferred to conventional clinic check ups and has thereby brought down the number of clinic visits. It can also deliver alerts before potentially life threatening complications become visible. The efficacy of these studies is well supported by the TRUST Trials. The publication entitled: “Automatic Remote Monitoring of ICD Lead and Generator Performance: The TRUST Trial” has shown that the time lapse between regular clinic visits


could be brought down by the Home Remote Monitoring Technology developed by Biotronik. Preliminary results from this study indicated that remote monitoring reduced the number of in person visits by 43%.

RPM has been indicated to play a greater role in reducing healthcare costs. The decline in health care expenses is due to decreased emergency visits, decreased regular visits and decreased pharmacy consumption. This would act

as a great stimulus for governments and private healthcare providers to reduce the cost of healthcare and could further drive the market for RPM.

US to Remain the Key Market in Remote Patient Monitoring

The US RPM market is forecast to reach $296.8m in 2016 with a CAGR of 7% during the forecast period 2009–2016. The cardio RPM segment will continue to lead the market with a CAGR of 8% during the forecast period 2009–2016 and is expected to reach $199.5m in 2016. Home healthcare expenditure is expected to increase significantly over the next ten years in the US due to the rise in chronic diseases such as CVD and diabetes. Nearly 70% of the total patients currently receiving home healthcare in the US are aged 65 years and above. According to the Administration of Aging, people in the US aged 65 years and above represented 12.4% of the population in the year 2000 and are expected to represent 19% of the population by 2030. As a result of the population of people


aged 65 and above rising significantly in the coming years, the RPM market will continue to grow due to the preference of elderly patients for home monitoring.

Medtronic, St Jude Medical, Boston Scientific and Biotronik with a Combined Share of 90% Dominate the Global Remote Patient Monitoring Market

In 2009, Medtronic, St. Jude Medical, Boston Scientific Corporation and Biotronik were the four leading companies in the RPM market and together accounted for

90% of the total market share. Medtronic was the market leader with 36% of the market share, followed by St Jude Medical and Boston Scientific Corporation with 27% and 15% respectively. Biotronik accounted for 12% of the total market share

GlobalData’s new report, “Remote Patient Monitoring - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016” provides key data, information and analysis on the global remote patient monitoring market. The report provides market landscape, competitive landscape and market trends information on the remote patient monitoring market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.


This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

For further details, please click or add the below link to your browser:

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