The size of the Remote Patient Monitoring Market in Asia-Pacific was worth USD 796.15 Million in 2022 and is estimated to be growing at a CAGR of 14.39%, to reach 1559.33 million by 2027. Asia-Pacific is the fastest-growing region in the global market.
The rising incidences of chronic diseases as a result of lifestyle changes, the aging population, the need to contain healthcare expenditure, demand for home-based monitoring devices, and ease of use and portability devices are some of the factors driving the growth of the Asia-Pacific remote patient monitoring market. The widespread use of various home-based monitoring equipment has significantly aided the healthcare industry's expansion. With the shift to home care and preventative care, remote patient monitoring systems are becoming more popular. In addition, there has been a substantial increase in the number of people suffering from heart problems in recent days. These considerations have increased the importance of preserving one's health among people in the Asia Pacific region. There has been a considerable growth in the demand for various health monitoring devices to keep track of one's health in recent years. Furthermore, these devices are small and portable, allowing patients to use them at all times without discomfort. These gadgets also allow for continuous monitoring of the patient's condition.
Some of the other significant factors boosting the growth rate of the Remote patient devices market in the APAC region are reducing hospital stay costs, overcrowding in diagnostic centers, and expanding patient care services. Because of the previous track records, RPM (remote patient monitoring) assists in time-based monitoring and intervenes before they become an emergency. This decreases re-admissions and avoids unnecessary hospitalizations. Remote monitoring systems, which include early warning signals and performance monitoring, help treat chronic illnesses and are likely to experience increased demand in the coming years. Patients may also use their mobile medical equipment to do routine testing and easily submit the results to their individual healthcare surgeons using cell phones or Desktop computers. According to the World Health Organization, cardiovascular illnesses account for about 26.5 percent of fatalities in the Asia-Pacific area. Furthermore, hypertension affects roughly 16-18% of the population in the area.
The shortage of trained staff and physicians is a key restraint to the APAC remote patient monitoring market since these systems need a high level of skill in operating the remote patient monitoring system. In addition, resistance from healthcare sector experts to implementing patient monitoring devices and a strict regulatory framework is another problem.
The market's expansion is further expected to be hampered by inadequate reimbursement standards and challenges with device functioning. In addition, the expansion of the APAC remote patient monitoring market might be limited by the high cost of a remote monitor that requires a lot of software and hardware.
This research report on the Asia-Pacific Remote Patient Monitoring market has been segmented and sub-segmented into the following categories:
The Asia-Pacific market is dominated by the Japanese region, followed by China and India. The market contributors are involved in mergers and attainments and new product enhancement to preserve sustainability. Heart monitors are among these devices or systems in high demand in emerging nations like India and China. One of the key factors leading to the growing demand for heart monitors in Asia-Pacific is the increased prevalence of heart disorders. Furthermore, there is a large need for remote monitoring devices due to technological developments and the fast adoption of digital healthcare in this nation. The need for remote monitoring devices is increasing as the number of individuals suffering from medical conditions such as hypertension, blood pressure swings, heart failure, etc. Chronic diseases account for 70% of all healthcare expenses in this region. This can be avoided by providing early help to patients through the use of a remote monitoring system. In addition, it can reduce the number of emergency department visits and hospitalizations, increasing the use of remote monitoring systems in the future years.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the APAC Remote Patient Monitoring Market profiled in the report are Welch Allyn, Bosch, Johnson & Johnson, Intel, Roche, Philips Healthcare, Philips, Healthanywhere Inc, Honeywell, American Telecare, Biotronik, and Covidien Plc.
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