Connected RHM Market Scope
Connected health involves the convergence of health technology, digital media, and mobile devices to enable patientís carers, and healthcare professionals to access data and information more easily and improve the quality and outcomes of both health and social care. Remote healthcare is a growing field as the world moves towards remote monitoring, real-time and fast detection of illnesses. There are many advantages such as early and real-time detection of illnesses, the ability to continuously monitor patients, the prevention of worsening of illnesses, cost reduction in hospitalizations, and many more. The Internet of Things (IoT) concepts have been widely used to interconnect the available medical resources and offer smart, reliable, and effective healthcare services to patients. Health monitoring for active and assisted living is one of the paradigms that can use the IoT advantages to improve the patientís lifestyle.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Connected RHM market throughout the predicted period.
Biotronik (Germany), Medtronic (Ireland), Philips Healthcare (Netherlands), GE Healthcare (United States), Honeywell Life Care Solutions (United States), Agamatrix (United States), Siemens (Germany), Armis (United States), Bosch (Germany) and Welch Allyn (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Capsule Technologies (United States), Comarch SA (Poland), HQSoftware (Estonia) and R-Style Labs (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Connected RHM market by Type (Single Parameter Monitoring System and Multi-Parameter Monitoring System), by Application (Disease Monitoring, Vital Signs Monitoring, Wellness Management and Others) and Region with country level break-up.
On the basis of geography, the market of Connected RHM has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In April 2019, Royal Philips and Spencer Health Solutions expanded their partnership to offer in-home medication adherence and the telehealth platform of Philips to chronically ill patients in selected European Union (EU) countries.
In January 2019, Medtronic partnered with IBM Watson to introduce a new feature IQcast, in its existing product Sugar.IQ, available for iOS mobile devices in the United States, to offer patients a hypoglycemic event to monitor their low glucose level by predicting the occurrence anywhere between 1 to 4 hours in advance.
HIPAA privacy rule, Internet of medical things resilience partnership act (2017) and ISO STANDARDS - ISO 27799:2008 and ISO/TR 27809:2007
- Integration of Technology With Current Trends In Medical Practices and Devices
- Rising focus on active patient engagement and patient-centric care coupled with the growing need for the adoption of cost control measures in healthcare
- Growth and Increased Adoption of High-Speed Network Technologies for IoT Connectivity
- Low Doctor-To-Patient Ratio Leading To Increased Dependency On Self-Operated Ehealth Platforms
- Rising Government Initiatives For Promoting Digital Health
- Increase in Data Privacy and Security Concerns
- Internet Disruptions Leading To Rugged IoT Device Performance
- Cost of the Technology
- Data Overloading and Accuracy
Key Target Audience
Connected RHM Service Providers, System and Software Developers, Healthcare and Public Organizations, Potential Investors, End-Use Industry and Others
Frequently Asked Questions (FAQ):1. What are the key segments playing vital role in Connected RHM Market?
The Connected RHM study can be customized to meet your requirements. The market size breakdown by type [Single Parameter Monitoring System and Multi-Parameter Monitoring System], by end use application [Disease Monitoring, Vital Signs Monitoring, Wellness Management and Others]. 2. How big is the Connected RHM Market?
The Connected RHM Market is gaining popularity and expected to see strong valuation by 2026.3. What is expected growth rate in Connected RHM Market?
According to AMA, the Global Connected RHM market is expected to see growth rate of %.