Remote Cardiac Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Remote Cardiac Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Report Description

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Remote patient monitoring technology increases access to care and reduces health care delivery costs. Remote patient monitoring related to cardiac health care is referred to as remote cardiac services. With the use of remote cardiac services, family members of patients are assured that they are being monitored and would get support in case of any problem. Some significant features of remote cardiac service monitoring are trend analysis of physiological parameters, drop in number of emergency department visits, early detection of deterioration, shorter duration of hospital stays, and fewer hospitalizations.

Use of remote cardiac services provides quicker results, which eventually increases efficiency and permits health care providers to remotely communicate with and educate patients. Remote cardiac services monitoring includes recording and transmission of periodic electrocardiograms at specified intervals, rhythm monitoring, calculation of average heart rate data every 10 seconds, etc.. The calculation of average respiration rate is also possible through the use of remote cardiac monitoring. Additional features of remote cardiac services include wireless transmission of data to the cloud for supplementary analysis through an android-based smartphone’s cellular connection. Other parameters such as weight, blood glucose, and peripheral capillary oxygen saturation can also be monitored remotely.

Adoption of remote cardiac services is increase with time and a number of factors are driving the global remote cardiac services market. The need for cost-effective ways to manage an increasing number of cardiac patients is anticipated to drive the global remote cardiac services market in developed countries. Rise in incidence of cardiovascular disorders, increase in private institutional nursing and home care, and rise in use of mobile cardiac telemetry are likely to drive the global remote cardiac services market during the forecast perios. Moreover, rise in incidence of diabetes globally is expected to boost demand for remote cardiac services. However, high cost of remote cardiac services and tightened reimbursements are some of the factors that may hinder the expansion of the global remote cardiac services market in the near future.

The global remote cardiac services market can be classified based on product, end-user, and geography. Based on product, the global remote cardiac services market can be segmented into ECG, heart monitors, heart rate monitors, breath monitors, blood pressure monitors, and PT/INR (prothrombin time & international normalized ratio) patient self-testing. In terms of end-user, the global remote cardiac services market can be categorized into clinics, ambulatory care centers, and home health care. A significant concern worldwide today is increasing rates of cardiovascular disease (CVD). Out of all deaths across the world, a majority of deaths occurred due to cardiovascular disease. Rise in prevalence of various chronic diseases that need constant monitoring, such as blood pressure and cardiovascular disorders, is driving the global remote cardiac services market. The ECG, heart rate and blood pressure monitors, and PT/INR patient self-testing product segments dominate the remote cardiac services market as these products assess parameters integral to cardiac heath on a daily basis.

In terms of geography, the global remote cardiac services market can be classified into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America is expected to dominate the global remote cardiac services market in terms of value due to high demand from the U.S.. The dominance of this region can also be attributed to rise in  geriatric population and increase in healthcare costs in the U.S., making remote health care monitoring an attractive treatment option. The remote cardiac services market in Asia Pacific is projected to expand at a rapid pace due to several factors including the increasing costs of health care services. 

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. Product development with enhanced technology and entry of existing players in the market in emerging countries are expected to increase competition in the global remote cardiac services market

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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