Remote patient monitoring could be a $22.58 billion market over the next six yeas, says Allied Market Resarch, from $12.2 billion in 2019.
“Rise in prevalence of chronic diseases such as COPD, diabetes, cancer, and atherosclerosis also contribute toward growth of the patient monitoring devices market. Moreover, collaborations between companies, hospitals, and academic institutions are expected to lead to launch of new products, which would help increase the market revenue and, therefore, boost the U.S. patient monitoring systems market growth,” they added.
That’s a massive catalyst for companies such as AI/ML Innovations(CSE:AIML)(OTC:AIMLF), Fobi AI Inc. (TSXV:FOBI)(OTC:FOBIF), Reliq Health Technologies Inc. (TSXV:RHT)(OTC:RQHTF), VentriPoint Diagnostics Ltd. (TSXV:VPT) (OTC:VPTDF), and Pharmather Holdings Ltd. (CSE:PHRM)(OTC:PHRRF).
In addition, according to EPS News, “Remote monitoring technology can also minimize many risks associated with a lack of visibility into changes in a patient’s condition. For example, a person with diabetes who doesn’t measure their blood sugar often enough could end up hospitalized. The same is true for someone who doesn’t realize their hypertension has gotten out of control. Smart monitors can assist in situations like those by picking up on bodily shifts before an individual feels symptoms.” As demand for such technology increases, the market is setting up for multi-billion-dollar growth.