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According to a new market report published by Transparency Market Research “Remote Patient Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, the global remote patient monitoring devices market was valued at USD 0.38 billion in 2013 and is expected to grow at a CAGR of 14.2% from 2014 to 2020, to reach an estimated value of USD 0.98 billion in 2020.

Medical devices industry is experiencing tremendous growth since its first use. Improving healthcare infrastructure and perpetually developing technology are primarily driving the medical devices industry. Adoption of remote patient monitoring devices is swiftly increasing owing to availability of portable, user-friendly and non-invasive medical devices. Remote patient monitoring is mainly preferred by patients suffering from chronic diseases such as cardiovascular diseases, respiratory diseases and diabetes. Therefore, rise in the prevalence of chronic diseases is a prime factor responsible for the growth of the global remote patient monitoring devices market. On the other hand, privacy and security of data and lack of reimbursement coverage are major factors that are anticipated to hamper the expansion of global remote patient monitoring devices market.

Heart monitors segment accounted for the largest market share in 2013 owing to high incidence of cardiac diseases globally. ECG monitors segment held the chief market share among the heart rate monitors due to recommended use of this device by the physicians coupled with high cost of the equipment. Furthermore, considering continuous expansion of geriatric population, worldwide prevalence of cardiac disease is also growing rapidly. As a result, the demand for heart monitors is anticipated to rise, leading to fastest growth of the segment during the forecast period from 2014 to 2020. 

Geographically, North America is the leading remote patient monitoring devices market globally and is also anticipated to dominate the market in the future. Increasing economic burden on hospitals owing to penalties imposed under the Hospital Readmissions Reduction Program formed by the Patient Protection and Affordable Care Act are resulting in increased adoption of remote patient monitoring devices market in North America. Likewise, more than 70% of the U.S. population is above 65 years of age. Thus, presence of high number of geriatric population in the U.S. is resulting in increased prevalence of cardiovascular disease in the country. Thereby, demand for heart monitors is estimated to be high in the North America. Furthermore, high prevalence of diabetes is witnessed to aid the growth of hematology monitoring devices market in North America. Thus, collectively heart rate monitors and hematology monitors accounted for of the largest share in the overall remote patient monitoring devices market in North America in 2013.

While, Asia Pacific remote patient monitoring devices market is anticipated to grow at the fastest rate in the future. Expanding healthcare expenditure and flourishing medical tourism industry in this region is expected to fuel the growth of the remote patient monitoring devices market in Asia Pacific. India and China accounts for the largest population pool and in the future they are estimated to have the largest geriatric population base in the world. Thus, presence of large pool of geriatric population is anticipated to accentuate the growth of the remote patient monitoring devices market in Asia Pacific. 

Major players contributing to the global remote patient monitoring devices market include, Abbott Laboratories, Aerotel Medical Systems, Covidien plc, AMD Global Telemedicine, F. Hoffmann-La Roche Ltd., Honeywell HomMed LLC, Omron Healthcare and Smiths Medical.

The global remote patient monitoring devices market is segmented as follows:

About Us:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.  Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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The casting and splinting market comprises products for the management of a wide range of acute musculoskeletal conditions which typically involves swelling, sprains or acute fractures, or any other unstable fractures and displacements before intense orthopedic interventions come into the picture. Casts and splints provide superior immobilization and are normally reserved for complicated and/or definitive fracture instances. The selection of a specific cast or splint usually varies based on the acuity of the injury and the area of the body being treated. The casting and splinting products used in the field of orthopedics are designed to provide maximum benefits while minimizing complications. The use of casts and splints is generally limited to the short term and highly differ in their indications, construction, benefits, as well as risks. 

Casting is known to be the traditional and the most commonly used method of bone fracture treatment. Globally, it has exhibited a larger market size in different regions of the world. According to a recent market study in the U.S., the casting and splinting market is expected to grow gradually at a CAGR of 5.0% over 2014 to 2020, owing to a number of growth factors, especially in the highly developed regions. Such growth and momentum observed within this market will yield around US$2,304.9 million by the end of 2020.

Study of the Commonly Used Casts and Splints through Segmentation Analysis

For physicians, the need to be familiar with proper techniques and indications for application of casting and splinting in order to optimize thorough treatments and patient care comes with the basic expertise on the casting and splinting supplies and equipment market. The casting and splinting market highlights the different types of casts and splints used in various circumstances and how each product is applied.

Browse Full Global Casting and Splinting Market Report With Complete TOC @ http://www.transparencymarketresearch.com/casting-splinting-market.html

Types of Products

Based on product segmentation, the global casting and splinting (supplies and equipment) market has been further segmented into two main sub-segments:

• Casting Supplies and Equipment
• Splinting Supplies and Equipment 

Between these two segments, in terms of revenue, the casting supplies and equipment market segment accounted for over 60% market share in 2013. Growth in this segment is booming due to the increasing number of road accidents, increasing osteoporotic geriatric population, and other adventure and sports-related injuries that lead to the need for specific casts or splints to treat common orthopedic injuries. 

On the other hand, the splinting supplies and equipment market consists of plaster splints, fiberglass splints, and other splints and splinting tools and accessories. Growth in these segments can be credited to the high versatility and strength of neoprene splints.

Availability of Numerous Products Caters to Specific Orthopedic Requirements

To provide comfort and support to different parts of the body, the market for casting and splinting currently has a wide variety of orthopedic products to offer. Some of the most commonly used products are casting tapes, casting tools, plaster casts, cast cutters, and other accessories – all of which together form the casting supplies and equipment market. Among these, the cast cutters segment accounted for the largest market share of more than 30% in 2013. This segment will continue to lead the overall market for the next five years.  

Some of the latest products found in the other splints segment include plastic splints, Neoprene splints, wooden splints, and metal splints. These products are expected to undergo rapid growth in the global market over the forecast period 2014-2020. 

All the above products cater to specific requirements like - knee and ankle caps, cervical pillow, cast cove, splints, knee caps, and chest binder and knee brace.

Casting and Splinting Market - by Regional Distribution

As the cost of casting and splinting manufacturing is low in Asia, this region satisfies the massive product demand in the regional, as well as international medical markets. Demand also continues to soar in the heavily populated countries of Asia, namely India, Japan, China, Korea and others. 

North America is expected to remain at a distant second until 2020 (in terms of market share).