Growing population size of the elderly, rising incidences of unhealthy lifestyle, and technological developments like portability of equipment shall continue to drive this segment.

Improving healthcare infrastructure and perpetually developing technology are primarily driving the medical devices industry. Adoption of remote patient monitoring (RPM) devices is swiftly increasing owing to availability of portable, user-friendly, and non-invasive medical devices. Rise in the prevalence of chronic diseases is a prime factor responsible for growth of the remote patient monitoring equipment market. On the other hand, privacy and security of data and lack of reimbursement coverage are major factors that are anticipated to slow the expansion of remote patient monitoring equipment market.

Indian Patient Monitoring Equipment Market Value-Wise Total Rs.420.56 CroreIndian Market Dynamics

The Indian patient monitoring equipment market estimated at Rs.420.56 crore, with 37,530 units in 2014, is poised to reach Rs.432 crore at 38,500 units by 2015. Most of the equipment is imported, with Chinese products cannibalizing the market. Skanray, offering an indigenous range, is perhaps the exception. Emco and Nasan also offer some indigenous products.

The patient monitoring market is highly technology based and manufacturers have to keep upgrading the product range with latest technology before they become obsolete. The product range is highly segmented based on technology and price range. The Indian market has a pool of underserved patients in the rural and tier III cities of the country. Manufacturers have formed strategies to target this section of society. High population base and improved purchasing power of patients are the major drivers. In India, despite significant progress within the monitoring device industry, the widespread integration of wearable sensors technology into medical practice remains limited.

Global Scenario

The global patient monitoring devices market is projected to reach USD 22.173.8 billion by 2018 growing at a CAGR of 5.5 percent, from 2014-2018, according to Markets and Markets.

The global patient monitoring devices market is segregated into nine main segments, namely, hemodynamic, Indian Patient Monitoring Equipment Market Unit-Wise Total 37,530 Unitsneurology, cardiac, respiratory, fetal and neonatal, multiparameter, remote patient monitors, temperature, and weight management monitors. The cardiac monitors segment had the largest share in 2014 of the total patient monitoring devices market, whereas neuromonitoring devices segment will be the fastest growing segment by 2018. The RPM devices segment is expected to grow at a fast pace, majorly driven by government regulations to control the rising healthcare costs.

RPM, the Key Driver

Technological advances, particularly through devices that can track patient health and trigger alarm bells when significant changes occur, are designed to reduce costs associated with readmissions and extended hospitalization. A new report by Berg Insight shows that three million patients worldwide are connected to some form of remote monitoring device at home and are monitored by a professional caregiver. Connected medical device manufacturer revenues account for 76.7 percent of sales. That is expected to change as mHealth connectivity muscle grows. By 2018, the market is expected to climb to USD 26.3 billion, mobile health will account for 40 percent of total revenues. It currently represents about one-fifth of sales.

A breakdown of the largest markets and some other factors influencing the RPM space is given. This does not include three million devices like FitBits.

  • Leading Venders in Indian Patient Monitoring Equipment Market 2014Cardiac rhythm management accounted for two-thirds of connected remote monitoring devices last year - that is 2 million people.
  • Sleep therapy represents about 0.54 million people, driven by the obstructive sleep apnea market.
  • Telehealth has 0.34 million connections. Although it is a relatively small market, there is a growing number of companies with connected solutions supporting telehealth as well as medication adherence monitoring and airflow monitoring, to name a few.
  • Pharmaceutical companies are projected to move into this space as well.

Mhealth connectivity companies also play a critical role. Their products and services that collect data from medical monitoring devices and transmit it to caregivers and help it to be used by care delivery platforms are produced by the likes of Qualcomm Life through its 2net platform. Other companies in this area include HealthKit from Apple, HealthGO from eDevice, and Connected Health Centre from Orange.

Shakti Chakraborty, Group President India Region Formulations, Lupin

"A patient monitor may not only alert caregivers to potentially life-threatening events; many provide physiologic input data used to control directly connected life-support devices. There are at least four categories of patients who need physiologic monitoring - patients with unstable physiologic regulatory systems; patients with a suspected life-threatening condition; patients at high risk of developing a life-threatening condition; and patients in a critical physiological state including patients with multiple trauma or septic shock. Care of the critically ill patient requires prompt and accurate decisions so that life-protecting and lifesaving therapy can be appropriately applied.”

Dr Madhumita Kuila
Consultant Interventional Cardiologist,
N.R.S. Medical College & Hospital and Columbia Asia Hospital, Kolkata

RPM technology can be a key method for reducing costs and boosting patient health outcomes. This type of continuous stream of data could truly revolutionize patient care, as it would allow medical providers to analyze information on a larger population health management platform.

Various factors that need to be considered with the use of improved monitoring techniques are the validation data, patient outcome, safety profile, cost effectiveness, awareness of the possible adverse events, and knowledge of technical principles and ability of convenient routine handling.

The integration of cloud computing, wireless sensor technology, and IOT in a healthcare environment along with the use of wireless sensor technology is emerging as a significant element of next-generation patient monitoring services in real-time.

Indian Market Dynamics is based on market research conducted by Medical Buyer in November 2015


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