The development of the concept of remote patient monitoring (RPM) started nearly 200 years ago in 1800s. However, it wasn’t until the introduction of cloud computing, that the domain evolved at a significant pace. In fact, RPM solutions are gradually being integrated into mainstream healthcare systems; specifically, during the COVID-19 induced lockdown, such advanced tools and software solutions have enabled and eased monitoring of patient health. Presently, several companies are focused on the development of RPM solutions.
What is Current Remote Patient Monitoring Developmental Scenario Across the Globe?
There has been a significant increase in the number of companies established during 2016-2020. This can be attributed to the fact that more than 150 funding investments have been made in RPM consultation tools and software domain since 2015. Further, owing to more than 45 partnerships that took place since 2020 has spurred in the interest of stakeholders in this domain.
What are the recent initiatives undertaken by RPM solutions developers, to combat COVID-19?
With the onset of the pandemic, there has been a surge in demand for telemedicine and remote patient monitoring solutions. This can be attributed to the increased chances of spread of COVID-19 infection, while visiting hospitals / clinics. Presently, more than 75 RPM solutions offer COVID-19 related patient monitoring. In fact, in the past few months, the RPM solution developers have undertaken various collaborative initiatives, to develop software and sensors to specifically monitor and predict COVID-19 symptoms. For instance, Cloud DX entered into a partnership agreement with Curatio and Maple, in order to create a novel COVID-19 home monitoring program, allowing the Canadian healthcare organizations to offer remote automated monitoring technology, efficient clinical oversight and daily disease management support via virtual care.
RPM solutions have already proved their potential in the healthcare industry. The innovation and adoption of such novel technologies have significantly brought down the cost of hospital visits and re-admissions. Further, with the onset of COVID-19, hospital beds have filled to their maximum capacities. In this scenario, the use of RPM solutions has allowed patients to get the required help without creating additional burden on healthcare facilities. Having said that, we are led to believe that this domain will provide lucrative business opportunities in the coming decade.
For further information on this domain, check out the report –