Market Trends of Germany Patient Monitoring Industry
This section covers the major market trends shaping the Germany Patient Monitoring Market according to our research experts:
Remote Patient Monitoring Devices Segment Expects to Register a High CAGR in the Germany Patient Monitoring Market Over the Forecast Period
Remote patient monitoring (RPM) devices allow providers to monitor, report and analyze their patient's acute or chronic conditions from outside the hospital or clinic setting. They enable the practitioner to have a real-time understanding of the patient's disease state and take preventative clinical actions. The remote patient monitoring segment is expected to witness significant growth over the forecast period owing to the factors such as the rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, hypertension, respiratory diseases, neurological diseases, and others, rising adoption of these devices, and growing geriatric population.
The rising burden of chronic diseases among the population and the rising geriatric population is the key factor driving the demand for remote patient monitoring devices. For instance, the high blood sugar caused by diabetes can damage the nerves that control the heart and blood vessels, leading to a variety of cardiovascular diseases like coronary artery disease and stroke, which can narrow the arteries. Also, according to the 2022 statistics published by the United Nations Population Fund, in Germany, a large proportion of the living population is aged 15-64 and accounts for 64% in 2022. In addition, as per the same source, 22% of the population is aged 65 years and above in 2022. Thus, the expected increase in the geriatric population who are more prone to develop chronic diseases is expected to increase the demand for remote patient monitoring devices as well as increase the adoption of these wearable devices due to their easy usage.
Furthermore, the implementation of RPM can improve the management of chronic diseases by measuring critical risk indicators, such as glucose, blood pressure, etc. RPM has various benefits for end-users and hospitals, such as low cost of healthcare, reduction in extended hospitalization, and fewer doctor appointments, among others. This can also help to reduce the cost associated with the treatment of chronic diseases.
Moreover, the rising company activities and product launches in the country are also expected to propel market growth over the forecast period. For instance, in September 2021, Withings launched a new smartwatch, the ScanWatch Horizon, which includes a slew of heart-health monitoring features such as heart rate, ECG, breathing disturbances, blood oxygen levels, sleep, and physical activity tracking. The watch enables the users to identify heart rhythms, as well as the ECG feature to help detect atrial fibrillation.
Thus, owing to the aforementioned factors, the remote patient monitoring segment is expected to grow in Germany over the forecast period.
