In its latest report on ‘Remote Cardiac Services Market’, Persistence Market Research provides a concise analysis on the recent market trends. The report further includes statistics, market forecasts and revenue estimations that in addition highlights its status in the competitive domain as well as expansion trends adopted by major industry players.
The technology of monitoring of patients outside of conventional clinical settings like in home referred as Remote patient monitoring (RPM). Remote patient monitoring technology increases access to care and decrease healthcare delivery costs. The remote patient monitoring related to cardiac health care referred as remote cardiac services. Remote cardiac services facilitates by delivering care right to the home. By use of remote cardiac services patients and their family members feel comfort knowing that they are being monitored and will be supported if a problem arises.
Some important features of remote cardiac service monitoring are like trend analysis of physiological parameters, enable early detection of deterioration thereby, reducing number of emergency department visits, duration of hospital stays, and hospitalizations. The remote cardiac services implementation provides quicker results which ultimately increases efficiency, and allows healthcare providers to allocate more time to remotely educate and communicate with patients.
The remote cardiac service monitoring includes rhythm monitoring, recordings and transmission of periodic ECG (electrocardiogram) at specified intervals, calculation of average heart rate data every 10 seconds, etc. The calculation of average respiration rate measurement is also possible by use of remote cardiac service monitoring. The features of remote cardiac services also includes wirelessly transmits data to cloud for further analysis through an android-based smartphone’s cellular connection. In conjunction with remote cardiac services other parameters can be monitored remotely like weight, blood glucose and peripheral capillary oxygen saturation.
Remote Cardiac Services Market: Drivers and Restraints
The use of remote cardiac services rising with time and there are several factors which affecting and driving growth of global remote cardiac services market. The remote cardiac monitoring services market for U.S. is set for more than a 25 percent increase from 2011 to 2016. The need for cost effective ways to manage an increasing number of cardiac patients will drive the growth of global remote cardiac services market in mature markets. The rising incidence of cardiovascular disorders, rise in private institutional nursing and home care and growing use of mobile cardiac telemetry anticipated to drive growth for global remote cardiac services market. In spite of advances in technology to ease the burden on healthcare systems, costly remote cardiac services and tightened reimbursement are some challenge faced by global remote cardiac services market. In addition, the rising incidence of diabetes globally is another factor that is anticipated to boost the demand for remote cardiac services in the global remote patient monitoring devices market.
Remote Cardiac Services Market: Segmentation
The global remote cardiac services market is classified on the basis of product type, end user and geography.
Based on product type, the global remote cardiac services market is segmented into the following:
- Heart Monitors
- Heart rate monitors
- Blood pressure monitors
- Breath Monitors
- PT/INR patient self-testing (prothrombin time & international normalized ratio)
Based on end user, the global remote cardiac services market is segmented into the following:
- Home Healthcare
- Ambulatory care centers
Remote Cardiac Services Market: Overview
For today’s population one of the biggest problem in developed countries are increasingly high rates of cardiovascular disease (CVD) worldwide. Out of all deaths worldwide majority of deaths occurred due to cardiovascular disease. The growing prevalence of various chronic diseases that need constant monitoring, such as blood pressure and cardiovascular disorders, is driving the global market for remote cardiac services. The remote cardiac services market dominates by ECG, heart rate and blood pressure monitors and PT/INR patient self-testing products as these are integral parameters to assess the cardiac heath in day to day routine. In 2013, the ambulatory care center segment was the biggest share in the global remote patient monitoring devices market. The home healthcare segment is also expected to grow at a fast pace in the forecast period as the growing geriatric population, and aging people are at a greater risk of developing various infections and diseases.
Remote Cardiac Services Market: Regional Overview
Region wise, the global remote cardiac services market is classified into regions namely, North America, Eastern Europe, Western Europe, Latin America, Japan, Asia-Pacific, Middle East and Africa. North America is expected to dominate the global remote cardiac services market in terms of value due to high demand from U.S. The dominance of this region is due to the growing geriatric population and increasing healthcare cost in the U.S., making the remote healthcare monitoring treatment option attractive. The Asia Pacific remote patient monitoring devices market is projected to witness rapid growth due to several factors including the increasing costs of healthcare services.
Remote Cardiac Services Market: Key Players
Some of the key players in global remote cardiac services market, are Honeywell HomMed LLC, Preventice Technologies, Inc., Koninklijke Philips N.V., Cardionet Inc., and Medtronic Inc. The product development with enhanced technology and entry of existing players in emerging countries is expected to create competition in the global remote cardiac services market.