Data-based solutions like predictive technologies to aid in the provision of a holistic service, finds Frost & Sullivan
LONDON, July 15, 2019 /PRNewswire/ -- New-age concepts such as the Internet of Medical Things (IoMT), Artificial Intelligence (AI), and Big Data analytics are opening up new cases for remote patient monitoring (RPM). In recent years, venture capitalists have increasingly invested in start-ups with competencies in these areas, especially integrated and lower-cost monitors and sensors. With this development, RPM will soon shift the centre of care from the hospital to the home and become a mainstream medical service, growing to $1.15 billion in 2023 at a strong CAGR.
"AI technology is poised to become more visible across the healthcare process and clinical workflows. There will be significant opportunities in the virtual assistant space and other data-driven AI applications," said Chandni Mathur, Industry Analyst at Frost & Sullivan. "Vendors are also choosing the bring-your-own-device model (BYOD), giving users the flexibility of using their own hardware. Data-driven technologies such as predictive analytics and data visualization are also gaining momentum."
Frost & Sullivan's recent analysis, Remote Patient Monitoring Market in Europe, Forecast to 2023, analyses in-home or mobile patient environment RPM. It examines the country/regional trends that will influence the uptake of RPM solutions as well as the market segments most likely to adopt this technology. It also identifies the growth opportunities and future perspectives for vendors to consider while devising their strategies for the European markets.
For further information on this analysis, please visit: http://frost.ly/3l2
"Europe is an enthusiastic adopter of RPM solutions, with the highest growth expected from the United Kingdom, Germany, the Netherlands, and Sweden," noted Mathur. "Furthermore, the imminent spate of regulatory approvals across Europe for consumer-grade wearables to monitor vital signs will prove a huge growth driver over the next five years."
For greater growth opportunities, market vendors need to:
Remote Patient Monitoring Market in Europe, Forecast to 2023 is part of Frost & Sullivan's global Digital Health Growth Partnership Service program.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Remote Patient Monitoring Market in Europe, Forecast to 2023
ME61-48
Contact:
Jaylon Brinkley
T: +1 210 247 2481348 10 12
E: Jaylon.Brinkley@frost.com
