Published Date: 2019-07-19 | Pages: Ongoing | Tables: Ongoing | Report ID: 7309
The global real-time health monitoring devices market is foretold to achieve growth as the need for advanced patient monitoring and better disease management increases. With the rise in the prevalence of chronic diseases, there has been an increased demand for real-time health monitoring solutions. Manufacturers are expected to shift their focus to untapped markets, especially in emerging countries, for further increasing their profits and sales.
Companies could continue to introduce new products to maintain their foothold in the global real-time health monitoring devices market. In July 2019, Withings, a French provider of smart scales, fitness trackers, hybrid smartwatches, and health monitors, added two new at-home blood pressure monitors, viz. BPM Core and BPM Connect to its cardiovascular product portfolio.
Increasing Application of Smart Health Management Devices to Create Opportunities
● Growing uptake of compatible wearable devices and smartphones is anticipated to augur well for the global real-time health monitoring devices market
● Improving awareness about various advantages of using real-time health monitoring devices is expected to strengthen market growth in future
● Increasing adoption of smart health management devices is predicted to create rewarding opportunities in the global real-time health monitoring devices market
● Need to improve patient care and convenience could be a powerful factor giving birth to lucrative prospects in the global real-time health monitoring devices market
● Increasing level of competition on the basis of product portfolio, product differentiation, pricing, and quality is expected to prove favorable for the global real-time health monitoring devices market
Companies to Launch New Products to Attract Investment from Healthcare Firms
Some of the popular companies operating in the global real-time health monitoring devices market are Qualcomm, Withings, Jawbone, Fitbit, Wipro, GE Healthcare, and Garmin. With a view to have a competitive edge over other participants in the global market, players are prophesied to launch innovative products, work toward business expansion, and enter into partnership, collaboration, and acquisition agreements. Investment from healthcare companies could help players to increase their revenue and introduce more advanced products in future.
In July 2019, BioIntelliSense, a US provider of continuous health monitoring solutions through its medical-grade data services platform, received a major strategic investment from Fresenius Medical Care North America, a provider of renal failure and chronic kidney disease solutions for healthcare professionals.
● Wearable Devices
● Home Health Medical Devices
● Ambulatory Centers
Among the main types of real-time health monitoring devices, wearable devices are projected to account for a substantial market share because of the rising trend of using wearable technology. The advent of high-tech wearable fitness devices could also work in the favor of the market segment. According to analysts, hospital is forecast to attract a remarkable share of the global real-time health monitoring devices market because of factors such as high demand and increased use of health monitoring devices.
Regionally, North America is foreseen to become a prominent market for real-time health monitoring devices due to the presence of a large geriatric population in need of improved disease management. The US and Canada showing high technological development when it comes to healthcare devices could add to the growth of the regional market. Asia Pacific is foretold to exhibit quicker market growth among other regions. Europe could be another important regional market, considering its extensive adoption of health monitoring devices for improving patient health management.
The extensive and accurate pricing analysis provided in this report is aimed at helping real-time health monitoring devices manufacturers to rightly implement their pricing strategies. For manufacturers that are planning to have a pricing strategy in place or are in the process of creating one, the in-depth pricing analysis can prove to be highly beneficial and effective. Competitor pricing analysis can help manufacturers to improve their cost management as they negotiate better costs with suppliers. It can also help to place manufacturers in a position of strength in their global market. Furthermore, it can contribute to improvement in sales potential and opportune price adjustment.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
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