Current developments in technology have resulted into a new healthcare intrusive approach and added to the demand for total cost minimization of medical treatment. This has led to the growth of the online patient monitoring equipments. In online patient observation, patients are constantly observed and examined without being hospitalized. This method is also referred to as mobile patient monitoring or remote patient monitoring. Healthcare sector all around the globe has witnessed a drastic change in the approach followed by medical practitioners in treating the patients. This has become possible because online patient monitoring equipments are dramatically changing the approach and techniques used by physicians to manage the chronic conditions and wellness of patients.
Government rules and regulations under Centers for Medicare and Medicaid (CMS) as well as the Affordable Care Act (ACA) has forced the healthcare industry to perform all surgical and medical operations within a fixed budget limit and that too with maximum successful results. In last few years mobile patient monitoring equipments along with online patient monitoring equipments have witnessed an enormous adoption usually in the developed nations in relation to examining and handling chronic situations like pulse oximeter, blood pressure, glucose level checks and weight checks. Few of these equipments not only examine/check and give report to healthcare industry experts but also provide suggestions and warnings to patients.
There is a total shift in methods and ways the patient is treated. It all started with hospital based admission and treatment. This was followed by the home healthcare treatment where physicians/ doctors and nurses used to make home visit to patient house and carried out/executed regular checkups or medical diagnosis. Today the medical practitioners carry out online patient observation and provide online/virtual healthcare tips to patients. Some of the main drivers for growth of online patient observation market are diminishing healthcare costs, reduction in rate of readmission and ageing of baby boomer population rate with time constraints to visit hospital clinics at regular intervals for diagnosis & treatment.
Government interference in USA and regions of Europe to reduce total medical expenses to have a control over the amount of settlement/compensation has led to heavy demand for remote patient monitoring equipments and mobile healthcare equipments. This has led to the growth of online patient observation market.
Countries like USA in North America and some regions of Europe have contributed to the revenue growth of online patient observation market. This growth can be attributed to the use of sophisticated technology in health care sector, innovations in treatment methods and improved health care facilities in these regions.
The report examines the market based on its market sections, key geographical locations and recent trends of market. Geographical locations analyzed under this market report study includes region of Asia Pacific, European Zone, North American region and Rest of World. The study provides market growth drivers, limitations of markets, market predictions and market structure. The report analysis the current technological (healthcare) industry developments, porter’s five force analysis, value chain analysis and SWOT analysis that are explained with a pictorial or graphical representation in the form of diagrams, charts and graphs.
The report also includes analysis of macro and micro aspects necessary for the current market competitors as well as the new entrants that would help them in their business growth and the growth of online patient observation market. The report also discusses in detail the company profiles of top market players of the industry. Few of the top industry competitors in online patient observation market are Philips Healthcare, Medtronic Incorporation and Boston Scientific Corporation.
