Remote Patient Monitoring, or RPM, is a key vertical for VoCare. Given the fact the the Vitals360 is the only device of it’s kind, and that it has single mode and point of care mode, we expect it will play very well in this space.
“The remote patient monitoring market is expected to reach US$31.326 billion by the end of 2023, increasing from US$15.871 billion in 2017, growing at a CAGR of 12% during the forecast period. Remote patient monitoring makes use of digital technologies to collect medical and various other forms of health data and transmit them to a healthcare provider. The data can be collected at patient’s residence, thus avoiding the nursing and hospitalization cost.
The market for remote patient monitoring witnessed significant growth in recent years owing to rise in disposable incomes and increasing demand from an aging population. Availability of technologically advanced products, the budding prevalence of chronic diseases, government support in various countries and rising awareness regarding the benefits of remote patient monitoring are the major factors driving the demand for these systems. Asia- Pacific is expected to witness significant growth over the projected period, attributable to rising healthcare expenditure and an increase in disposable income over the forecast period.”