The remote patient monitoring device market is expected to reach $1.9 billion in 2025 on a global basis, according to a new report from Research and Markets.
The research firm, based in Dublin, attributes the growth to increasing cases of heart disease, an aging population and the growing demand for independent healthcare, according to a statement. Additionally, improving healthcare infrastructure, growing post-acute care management and emerging economies will play roles.
Remote patient monitoring devices can help treat and slow down the effects of diabetes, cardiovascular conditions and cancer. As technological advancements continue to be made, these remote care devices will become more widely available to larger populations.
Companies that make these devices include major industry players like Abbott Laboratories, Biotronik and Medtronic.
The Asian Pacific market is expected to see the highest growth for the device because the area currently struggles with getting adequate healthcare access, particularly in China and India.