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Remote Patient Monitoring Market to Expand by USD 3.31 Billion (2024-2028), Focus on Chronic Disease Management, AI-Powered Market Evolution – Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global remote patient monitoring market  size is estimated to grow by USD 3.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 30.11%  during the forecast period. Focus on chronic disease management is driving market growth, with a trend towards iot in healthcare. However, lack of reimbursement policies for remote monitoring  poses a challenge.Key market players include Abbott Laboratories, Advantech Co. Ltd., Babyscripts, Biofourmis Inc., Boston Scientific Corp., Caretaker Medical NA, Dragerwerk AG and Co. KGaA, GE Healthcare Technologies Inc., Honeywell International Inc., Koninklijke Philips N.V., Masimo Corp., Medtronic Plc, MphRx Inc., Napier Healthcare Solutions Pte Ltd., Nihon Kohden Corp., OMRON Corp., OSI Systems Inc., OSP, Shenzhen Mindray BioMedical Electronics Co. Ltd, Siemens AG, Smiths Group Plc, and VitalConnect Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Vital signs and Implantable), End-user (Hospitals, ASCs, and Home care), and Geography (North America, Europe, Asia, and Rest of World (ROW))

Region Covered

North America, Europe, Asia, and Rest of World (ROW)

Key companies profiled

Abbott Laboratories, Advantech Co. Ltd., Babyscripts, Biofourmis Inc., Boston Scientific Corp., Caretaker Medical NA, Dragerwerk AG and Co. KGaA, GE Healthcare Technologies Inc., Honeywell International Inc., Koninklijke Philips N.V., Masimo Corp., Medtronic Plc, MphRx Inc., Napier Healthcare Solutions Pte Ltd., Nihon Kohden Corp., OMRON Corp., OSI Systems Inc., OSP, Shenzhen Mindray BioMedical Electronics Co. Ltd, Siemens AG, Smiths Group Plc, and VitalConnect Inc.

Key Market Trends Fueling Growth

Remote Patient Monitoring (RPM) is a trending business in healthcare, enabling patient-centered care and personalized medicine through real-time health data collection. RPM caters to patient engagement, especially for geriatric demographics and those with chronic ailments, reducing healthcare expenditures and enabling aging in place. Regulatory variations, social media practices, and telemedicine start-ups influence RPM’s growth. RPM technologies include IoT medical devices, telemedicine apps, and software solutions. Reimbursement policies, behavioral barriers, and healthcare fraud are challenges. RPM addresses infectious diseases, epidemics, and healthcare-associated infections, with devices like vital sign monitors and special monitors for heart rate, blood pressure, and glucose levels. Firms like EPIC Health and Disease Control Prevention (CDC) use RPM for chronic disease management. Medical practitioners, hospitals, and healthcare organizations benefit from RPM’s remote access and digital platforms. RPM technologies ensure quality of care, prevent healthcare fraud, and improve consultation tools for healthcare consumers. 

The remote patient monitoring market is experiencing significant growth due to the increasing adoption of Internet of Things (IoT) technology and connected medical devices in the healthcare industry. IoT bridges the gap between physical and digital data sources, enabling real-time patient monitoring and improving accessibility to healthcare services. This trend is helping healthcare organizations reduce operational burdens and develop digital ecosystems, ultimately leading to timely and improved patient care. The potential applications of IoT in healthcare settings are vast, extending beyond inpatient services to outpatient care as well. 

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Market Challenges

Remote Patient Monitoring (RPM) is a growing trend in healthcare, allowing medical care to be delivered from a distance. However, implementing RPM comes with challenges. Patient-centered care and personalized medicine require RPM to be patient-friendly and engaging. Regulatory variations and social media practices pose challenges in ensuring data security and privacy. The geriatric demographic and chronic ailments increase healthcare expenditures, making home-based care setting a cost-effective solution. Mobility constraints, healthcare fraud, and prevention measures are concerns in RPM. Behavioral barriers, telemedicine, and infectious diseases require fraud detection and prevention measures. IoT medical devices, reimbursement policies, and global disease burden impact RPM adoption. Medical practitioners, hospitals, and healthcare organizations use digital platforms and RPM technologies for better quality of care. Firms offer telemedicine apps, consultation tools, and software solutions for patients. RPM devices include vital sign monitors, special monitors, heart rate monitors, and hospital-based patient systems. Challenges include reimbursement policies, medical research using cloud servers, health insurance portability and accountability, and healthcare consumer trust. RPM technologies aid in chronic disease management, telemedicine start-ups, and remote access to medical care facilities. RPM is essential for managing conditions like hypertension, neurological disorders, cancer cases, and sleep disorders.Remote patient monitoring brings healthcare services to patients’ homes, expanding access to specialists in remote areas. Both healthcare providers and patients benefit from this trend by reducing the need for unnecessary hospital visits. However, reimbursement for remote healthcare services is not universally adopted by payers, limiting the application of telehealth in some cases. The Center for Medicare and Medicaid Services (CMS) has established guidelines for reimbursement, covering patients in Health Professional Shortage Areas (HPSA) or outside Metropolitan Statistical Areas (MSA), as defined by the Health Resources and Services Administration (HRSA) and the Census Bureau. Adherence to these standards enables reimbursement for remote patient monitoring services.

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Segment Overview 

This remote patient monitoring market report extensively covers market segmentation by

Product 1.1 Vital signs1.2 ImplantableEnd-user 2.1 Hospitals2.2 ASCs2.3 Home careGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 Vital signs-  The vital signs product segment of the remote patient monitoring market consists of devices that remotely monitor key physiological parameters, including blood pressure, heart rate, temperature, and oxygen saturation. These solutions range from wearable sensors to home monitoring kits, allowing patients to track their vital signs in real-time and transmit data to healthcare providers for remote assessment and intervention. With the rise of chronic diseases and the emphasis on preventive healthcare, the demand for vital signs monitoring solutions has grown significantly. Leading vendors, such as Koninklijke Philips NV, Medtronic Plc, and GE Healthcare, provide a range of devices to cater to the diverse needs of patients and healthcare providers. Philips offers wearable biosensors, while GE Healthcare provides home monitoring kits. These companies utilize their strengths in medical device manufacturing, data analytics, and healthcare IT to develop innovative vital signs monitoring solutions. This empowers patients to manage their health proactively and supports the expansion of the vital signs segment in the global remote patient monitoring market.

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Research Analysis

Remote Patient Monitoring (RPM) is a revolutionary approach in healthcare that enables medical practitioners to monitor patients’ health conditions in real-time from a distance. This patient-centered care solution is particularly beneficial for individuals with chronic ailments, geriatric demographics, and those with mobility constraints. RPM allows for personalized medicine and increased patient engagement, leading to better health outcomes and reduced healthcare expenditures. Regulatory variations across regions and social media practices are shaping the RPM market’s growth. RPM technologies include telemedicine apps, digital platforms, and RPM devices that transmit health data to medical professionals. Cloud servers and Health Insurance Portability and Accountability Act (HIPAA) compliance are crucial components of RPM. Chronic disease management, such as hypertension and neurological disorders, is a significant application area for RPM. Firms are investing in RPM to improve healthcare delivery in home-based care settings and hospitals. Medical researchers are also leveraging RPM for data collection and analysis to advance medical knowledge.

Market Research Overview

Remote Patient Monitoring (RPM) is a patient-centered care approach that enables medical practitioners to monitor patients’ health conditions in real-time, outside of traditional hospital settings. RPM is a crucial component of personalized medicine, allowing for more effective chronic ailment management and improved patient engagement. Regulatory variations and social media practices pose challenges, but RPM is gaining traction due to the growing geriatric demographic and rising healthcare expenditures. Aging in place and mobility constraints are driving the need for home-based care and RPM technologies. However, healthcare fraud, prevention measures, and behavioral barriers are concerns. Telemedicine, IoT medical devices, and digital platforms are key RPM technologies, with applications ranging from infectious diseases and epidemics to oncology, cardiovascular diseases, diabetes, sleep disorders, weight management, and fitness monitoring. Reimbursement policies and global disease burden also impact RPM adoption. Medical researchers, healthcare organizations, and software solutions providers are key players in the RPM market, with telemedicine start-ups and consultation tools also gaining popularity. Patients, hospitals, home-based care settings, healthcare consumers, and medical care facilities are all benefiting from RPM. RPM is transforming healthcare delivery by enabling remote access to medical care and improving quality of care.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductVital SignsImplantableEnd-userHospitalsASCsHome CareGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Workday Names Rob Enslin President, Chief Commercial Officer

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Longtime SAP Veteran, Former UiPath CEO and Google Cloud President to Lead Workday’s Global Commercial Strategy for the Company’s Next Phase of Growth

PLEASANTON, Calif., Nov. 26, 2024 /PRNewswire/ — Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money, today announced the appointment of Rob Enslin to the newly created role of president, chief commercial officer (CCO). Enslin will be responsible for driving Workday’s revenue growth and leading the company’s global sales, partnership and customer experience efforts. 

Enslin brings more than 30 years of experience in the technology industry, most recently serving as CEO of UiPath where he led the company to non-GAAP profitability, advanced the company’s AI strategy, and drove expansion into new markets. Before joining UiPath, Enslin was president of cloud sales at Google Cloud, where he scaled the company’s sales operations and drove significant revenue growth. Enslin’s extensive career also includes 27 years at SAP, culminating in his role as president of the Cloud Business Group and executive board member. In addition to deep enterprise expertise, Enslin brings a strong global perspective, having held roles in South Africa, USA, Germany, and Japan throughout his career.

“Rob is a world-class leader with a track record of building high performing go-to-market teams, a deep understanding of industry and partner ecosystems, and unique global experience, making him the ideal leader to help guide Workday’s next phase of growth,” said Carl Eschenbach, CEO, Workday. “We’re confident that his vision and commitment to providing exceptional customer experiences will unlock even greater potential for Workday and businesses around the world.”

“Joining Workday at this pivotal moment is incredibly exciting,” said Enslin. “Workday’s unparalleled dataset, combined with its commitment to innovation, positions the company to become the definitive AI leader in the ERP market. I’m thrilled to be part of this transformation and shape the future of work.”

Enslin’s appointment will be effective as of December 2, 2024.

About Workday

Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com.

© 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday’s leadership, growth, transformation, and potential. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

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SOURCE Workday Inc.

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Autodesk appoints Janesh Moorjani as chief financial officer

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SAN FRANCISCO, Nov. 26, 2024 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today announced the appointment of Janesh Moorjani as the company’s chief financial officer, effective December 16, 2024. Moorjani brings over 20 years of experience in the technology industry, with deep expertise in driving growth and efficiency at scale. Most recently, Moorjani served as CFO and COO of Elastic NV (NYSE: ESTC), the Search AI Company.

Reporting to chief executive officer Andrew Anagnost, Moorjani will lead and oversee Autodesk’s global finance organization. Moorjani will succeed interim chief financial officer Elizabeth “Betsy” Rafael, who will serve as an advisor to the company through the end of fiscal 2025 and will continue to serve on Autodesk’s Board of Directors, resuming her status as an independent director following the transition period and end of her employment by the company.

“We are excited to welcome such a high-caliber and seasoned CFO in Janesh,” said Andrew Anagnost, president and CEO of Autodesk. “His deep finance and software experience will be instrumental in supporting Autodesk’s continued momentum with sustained growth and enhanced profitability. I look forward to partnering with Janesh to drive Autodesk’s successful path forward and continue creating additional value for our stockholders. I also thank Betsy for stepping into the interim CFO role at an important time for Autodesk, and for her continued contributions both through the transition and as a qualified and experienced board member moving forward.”

Moorjani brings strong experience leading dynamic public software companies. He recently was CFO of Elastic since 2017 and assumed the additional responsibilities of COO in 2022. Prior to Elastic, he served in executive and leadership roles at Infoblox, VMware, Cisco, PTC, and Goldman Sachs. He currently serves on the Board of Directors of Cohesity, a leading AI-powered data security and data management company.

“I am thrilled to join Autodesk and work with Andrew, the company’s strong management team and the Board to capitalize on the compelling growth opportunities we have ahead,” said Moorjani. “Autodesk has established a clear leadership position as a technology innovator by providing differentiated and connected solutions that allow customers across industries to design and make anything. I look forward to working with the team to build on Autodesk’s strong financial foundation to drive continued growth, profitability and free cash flow to ultimately deliver sustainable stockholder value.”

ABOUT AUTODESK

The world’s designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk’s Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything

Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements regarding our strategies, performance, results, growth, profitability and free cash flow, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers’ offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors.

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk’s Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

 

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SOURCE Autodesk, Inc.

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Accuray Incorporated Reports Inducement Award Under NASDAQ Listing Rules

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MADISON, Wis., Nov. 26, 2024 /PRNewswire/ — Accuray Incorporated (NASDAQ: ARAY) today reported, as required by NASDAQ Listing Rules, equity inducement awards to Mike Murphy, the company’s new Vice President, Corporate Controller. As a material inducement to Mr. Murphy joining the company, and in accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee approved granting Mr. Murphy an award of 150,000 restricted stock units covering shares of the company’s common stock effective as of November 29, 2024 (collectively, the “Inducement Awards”). The Inducement Awards were made outside of the company’s current equity plan, but are subject to terms and conditions generally consistent with those in the company’s 2016 Equity Incentive Plan.

Twenty-five percent of the restricted stock units subject to the restricted stock unit award will vest on each yearly anniversary of October 31, 2024, subject to Mr. Murphy’s continued service through each applicable vesting date.

About Accuray
Accuray is committed to expanding the powerful potential of radiation therapy to improve as many lives as possible. We invent unique, market-changing solutions that are designed to deliver radiation treatments for even the most complex cases—while making commonly treatable cases even easier—to meet the full spectrum of patient needs. We are dedicated to continuous innovation in radiation therapy for oncology, neuro-radiosurgery, and beyond, as we partner with clinicians and administrators, empowering them to help patients get back to their lives, faster. Accuray is headquartered in Sunnyvale, California, with facilities worldwide. To learn more, visit www.accuray.com or follow us on Facebook, LinkedIn, X, and YouTube.

Media Contact
Beth Kaplan
Public Relations Director, Accuray
+1 (408) 789-4426
bkaplan@accuray.com 

 

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SOURCE Accuray Incorporated

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