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Germany Remote Patient Monitoring Device Market Size, Forecast And Trend Analysis, 2014 - 2025

Germany Remote Patient Monitoring Device Market Size, Forecast And Trend Analysis, 2014 - 2025

  • July 2018
  • 100 pages
  • ID: 5583914
  • Format: PDF
  • By Hexa Research

Summary

Table of Contents

Germany Remote Patient Monitoring Device Market Size and Forecast by Product (Vital Sign Monitors, Specialized Monitors), by Application, by End Use And Trend Analysis, 2014 - 2025

The Germany remote patient monitoring devices market size is expected to reach USD 120.4 million by 2025. This growth is attributed to rising population and trend of independent living, along with demand for cost-effective treatment and quality care. Remote patient monitoring devices are used for managing and monitoring a wide array of health conditions. These devices find application in chronic disease management, care integrator, progress tracker, an early warning system, capacity builder, and confidence builder.

Stringent government policies and favorable regulations by WHO in Germany regarding usage of remote patient monitoring devices are encouraging companies to develop drugs for treatment of chronic diseases. These diseases include cardiovascular diseases (CVDs), cancer, diabetes mellitus (DM), and chronic respiratory diseases. Penetration of remote patient monitoring devices in the German market supports local clinical research organizations (CROs) in their clinical research trials and ensures ease of monitoring, which facilitates drug discovery process.

Thus, growing cases of chronic disorders are expected to serve as a high impact rendering factor for the Germany remote patient monitoring device industry. Cancer, CVDs, sleep disorder, and weight management and fitness monitoring are the key application segments analyzed in the Germany remote patient monitoring devices industry. Cardiovascular diseases segment is one of the largest application segments. This is mainly due to increasing number of patients suffering from diseases such as cardiac hypertension as they need regular blood pressure monitoring due to frequent fluctuations.

The use of remote patient monitoring devices in post-acute care aids in self-health management. Increasing demand for self-management skills and tools is projected to propel the market growth in the next few years. Escalating demand for independent care, especially in post-operative care is further anticipated to be a major factor driving the industry growth. Growing geriatric population, as they are highly susceptible to chronic conditions, such as diabetes and CVDs is also expected to fuel industry demand.

Cancer patients need continuous monitoring for evaluating their progress with regard to the prescribed treatment plan. Continuous monitoring enables doctors to evaluate and vary the dosage to eradicate tumor cells. Government initiatives such as various campaigns, health insurance policies, and reimbursement policies for medical devices present growth opportunities for the market, thereby augmenting the product demand. Moreover, advancements in technology, introduction of affordable and efficient devices, and improving healthcare infrastructure due to rapid economic growth would also propel market expansion.

The Germany remote patient monitoring device market is highly competitive and led by Medtronic Plc and St. Jude Medical, Inc. Other key companies are Boston Scientific Corporation, Covidien Ltd., and Philips Healthcare. Mergers and acquisitions are the key strategies undertaken by most of these companies to diversify their product portfolio and gain market share in the coming years

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