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About Remote Patient Monitoring
One of the fastest-growing segments of the patient monitoring market is the remote monitoring market, also dubbed “telehealth”. This category enables the clinical management of patients’ vital signs through the use of devices in the home environment. The increasing interest in remote monitoring capabilities is attributed to recent technological advancements, a rise in the elderly age demographic, and a demand for more personalized healthcare.
The Care Coordination Home Telehealth (CCHT) program of the Veterans Health Administration (VHA) continues to serve as a model world-wide for successful and continued implementation of mainstream remote monitoring system. The U.S. Department of Veterans Affairs remains one of the largest advocates for and users of remote patient monitoring as many older veterans have conditions related to CHF, COPD, depression, or post-traumatic stress disorder, which can make it difficult for them to live independently at home. Remote monitoring therefore allows veterans to maintain a widely desired level of independence without forsaking their health.
Top Competitors in the U.S. Remote Patient Monitoring Market
Among the multitude of companies present in the remote monitoring segment, the competitors with the most significant impact are, in decreasing order, Medtronic, Honeywell Life Sciences, and Philips Healthcare.
- Honeywell Life Sciences
- Philips Healthcare
Medtronic was the leading competitor in the remote monitoring segment largely due to their ongoing partnership with the VHA’s Care Coordination and Home Telehealth (CCHT) program following Bosch Healthcare’s exit, fortifying their position as market leader for the total remote monitoring market. Over the years, Medtronic has evolved their product portfolio to include cardiac devices supported by their CareLink™ network, which uses a standard phone line to transmit data from the device through their network to a secured website that may be accessed by the authorized clinician. Along with cardiac products, Medtronic also offers the Carelink™ Personal Software Solution, a web access platform that enables diabetes patients to upload and view data from their insulin pump and glucose monitors.
Honeywell Life Sciences
Honeywell Life Sciences is the second-leading competitor in the remote monitoring market. Their Genesis Touch™ v2 is a remote patient monitoring device with 3G, 4G and Wi-Fi connectivity that collects health metrics and transmits data to their LifeStream™ Management Suite. Honeywell continues to take a platform approach geared towards expanding their services and product offerings, with a uniform software platform to facilitate patient transitions between products. They devote research efforts into analyzing population statistics to better understand and configure their products and services.
Philips Healthcare offers remote monitoring to patients with their eCareCompanion™ platform, which connects via cellular or Wi-Fi networks to deliver cloud-based telehealth services. The eCareCompanion™ tablet is used to collect vital sign information either manually or directly from a number of wireless Bluetooth peripherals and provides users with health trends and reminders.
Other significant competitors in the remote patient monitoring segment include Abbott, Boston Scientific, and Biotronik. Furthermore, in the iData Research telehealth market report, it is noted that an additional 29 companies are taken into consideration in tandem with the large competitors.
More information on remote patient monitoring companies in the U.S. can be found in the a report series published by iData Research entitled the U.S. Market Report Suite for Patient Monitoring Equipment.