The global patient monitoring market will reach $9.3 billion by 2014, concludes strategic research firm Technavio in its latest report, "Global Patient Monitoring Systems Market 2010-2014." Specifically, technological advancement in remote patient monitoring is being cited as a key factor in that growth.
"Remote patient monitoring is greatly minimizing hospital stays resulting in a reduction of the cost of healthcare delivery," the report's authors write. "Thus, RPM helps healthcare centers reduce costs and increase business opportunities for healthcare service providers while integrating systems and providing necessary operational facilities."
Interestingly, though, Technavio determines that the bulk of the market's growth will stem from Europe and Asia due to the "high price" of patient monitoring systems. While earlier this year, healthcare market research firm Kalorama Information concluded that the remote patient monitoring market in the U.S. would grow 26 percent by 2014, Technavio believes that the slow recovery of the overall markets in North America have--and will continue to be--crucial on a larger scale.
The report gathers insight from various vendors and end users, and takes into account the various strengths and weaknesses presented by each vendor.
To learn more:
- read a press release touting the study
- purchase the study for yourself