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According to The Business Research Company’s Global Market Report 2023 for Remote Patient Monitoring Devices And Equipment, the market is projected to increase from $1.18 billion in 2022 to $1.34 billion in 2023, with a 13.3% CAGR. Anticipated market growth will lead to a size of $2.14 billion in 2027, at a 12.5% CAGR.

What was the major driver in the remote patient monitoring devices and equipment market?
The impending shortage of healthcare professionals (doctors and nurses) is a key driver of the remote patient monitoring devices and equipment market. As chronic disease patient numbers rise, monitoring becomes challenging due to time and cost constraints. The growing chronic disease patient population, coupled with the anticipated nurse shortage, fuels the growth of remote patient monitoring tools. Mercer reports that the US will require 2.3 million new healthcare workers by 2025, encompassing various roles. The Bureau of Labor Statistics notes a need for 203,700 new registered nurses yearly by 2026, but only 438,100 are expected to be added, falling short of demand. The WHO predicts that by 2030, low- and middle-income countries will face a shortage of 14.5 million healthcare professionals.

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What was the key trend in the remote patient monitoring devices and equipment market?
Remote patient monitoring device manufacturers increasingly incorporate IoT and wireless tech into devices for efficient medical diagnosis and treatment. Biosensor monitoring devices employ multi-sensor systems, transmitting real-time data from skin-embedded sensors for patient monitoring. IoT tech enables remote monitoring of health parameters. Miniaturized multi-sensing devices assist in monitoring blood pressure, glucose, and physiological data, guiding treatment. Key firms offering integrated IoT and wireless sensor patient monitoring include Xsensio, InSilixa, 1Drop Diagnostics, and Kenzen.

Which was the largest region in the remote patient monitoring devices and equipment market?
Asia-Pacific was the largest region in the global remote patient monitoring devices and equipment market in 2022. North America was the second-largest region in the remote patient monitoring devices and equipment market report. The regions covered in the remote patient monitoring devices and equipment analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Who are the remote patient monitoring devices and equipment market prominent players?
Major players in the remote patient monitoring devices and equipment market are Philips Healthcare, Honeywell, GE Healthcare, Medtronic, Boston Scientific, Johnson & Johnson, Biotronik, Robert Bosch, COVIDien PLC., and St. Jude Medical.

Key remote patient monitoring devices and equipment market segments
The global remote patient monitoring devices and equipment market is segmented –
1) By Type Of Device: Heart Monitors, Breath Monitors, Haematology Monitors, Multi – Parameter Monitors
2) By End User: Home Care Settings, Clinics, Hospitals
3) By Application: Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Monitoring And Fitness Monitoring, Other Applications

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The Remote Patient Monitoring Devices And Equipment Global Market Report 2023  provides a comprehensive overview on the remote patient monitoring devices and equipment market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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