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Market Analysis: Patient Monitoring

Market Analysis: Patient Monitoring

Mon Jan 26 2015By Medical Dealer Magazine

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, web-based access to the patient record, and other functions,” the Kalorama report notes.

Individual sub-segments of the patient monitoring device market include specific applications such as hemodynamic, neurology, cardiac, respiratory, fetal and neonatal, multi-parameter, remote patient monitors and temperature & weight management monitors.

 

Click here to read the article in entirety on Medical Dealer.

 

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