Market Analysis: Patient Monitoring
The market for patient monitoring equipment includes wireless and remote devices, the software that processes data gathered by such technology, and applications and equipment for transferring patient monitoring data into an EMR.
Wed May 01 2013
Market Analysis: Patient Monitoring
In the United States, the market for patient monitoring and information systems has climbed steadily from around $4 billion in 2007 to $10.6 billion in 2012, according to Kalorama Information.
From there it jumped nearly 20 percent, to $10.6 billion in 2012, the result of demand “a more wireless and streamlined operation” as well as one that integrates “data processing capabilities and EMR transfer options,” said Kalorama spokesperson Melissa Elder in a statement acCompanying the report.
On a global scale, the patient monitoring devices market was worth some $14.2 billion in 2011, and could approach $19-21 billion by 2016, at a compound annual growth rate around 6 percent, according to a range of data provided by Kalorama and Markets and Markets.
The market for patient monitoring equipment includes wireless and remote devices, the software that processes data gathered by such technology, and applications and equipment for transferring patient monitoring data into an EMR.
Advanced remote patient monitoring systems may also support “real-time audio and video for ‘face-to-face’ interaction between clinicians and patients, wireless communication, systems that ‘sort’ the vast amount of data collected in order to put it into the context of a patient’s condition, portable and ambulatory monitors, webbased access to the patient record, and other functions,” the Kalorama report notes.