In a study conducted by Grand View Research, the global remote patient monitoring system market size was valued at $691.5 million in 2018 and is expected to register a compound annual growth rate (CAGR) of 13.4% through 2026. The extensive role of remote patient monitoring systems (RPM) in chronic disease management, which includes an early warning system, care integrator, progress tracker, confidence builder, and capacity builder is expected to drive growth. The growing senior population and their rising demand for a better lifestyle along with quality care and cost-effective treatment are anticipated to fuel market growth.
According to the United Nations World Population Prospects: the 2019 Revision, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). Aging is considered to be the greatest risk factor for chronic conditions, thus leading to an increased product demand for RPM devices. COVID-19 has also accelerated the need for RPM integration in both acute and post-acute settings. In an effort to to keep aging Americans healthier, the Centers for Medicare and Medicaid (CMS) have expanded guidelines for RPM reimbursement to align with chronic care management (CCM) programs.
VSTOne is a continuous remote monitoring and telehealth device designed to aid acute and post-acute organizations in caring for chronically ill and COVID-19 patients. The platform leverages machine vision and artificial intelligence to monitor vitals, motion, and connect patients remotely with live two-way video. With continuous monitoring, deterioration is identified and communicated much earlier in the disease cycle allowing for support to be administered earlier. VSTOne enables older adults to live independently and manage their care, with fewer emergency room visits and a better quality of life.
To learn more about VSTOne’s capabilities, click here.