ROCKVILLE, Md., Oct. 3, 2016 /PRNewswire/ -- Kalorama Information sees seven percent annual revenue growth in the next five years for systems designed to monitor patients remotely and send information to the EMR of a healthcare organization. That's double the global medical device market's average rate of growth, according to the healthcare market research firm. Kalorama says the aging population, the need for cost efficiency in healthcare and staff shortages are among the drivers for these systems. Kalorama has been tracking advanced patient monitoring since 2007 and its report, Advanced Remote Patient Monitoring Systems, in its ninth edition, is a comprehensive study on the patient monitoring industry, containing detailed market estimates and forecasts. The report can be found at Kalorama Information: http://www.kaloramainformation.com/pub/10307860.html.
"The continued pull on healthcare systems to save, previous track record of market participants and the amount of companies entering this space informed our forecasts," said Bruce Carlson, Publisher of Kalorama Information.
The global market will likely experience healthy growth throughout the forecast period, exceeding a value of $49 billion by 2021. Growth in the advanced patient monitoring technologies will be due to several factors, of which some examples include:
- Replacement of older, low-technology equipment with new wireless or remote units
- Growing acceptability and knowledge of technology features and benefits
- Additional monitoring efforts in an effort to alleviate healthcare problems before they require hospitalization or emergency department visits
- New technological advancements in the area of wireless connectivity
- Government incentives and rebates; growing demands for health facilities
- Several other factors.
Kalorama says there are a huge number of companies offering some form of wireless and remote technologies, patient data processing applications and equipment, and EMR data transfer equipment. The home healthcare and other sectors are much more fragmented and are dominated by privately held companies. The top five contributors to the market include: Medtronic, Philips Medical, St. Jude Medical, Boston Scientific and GE Healthcare
Advanced Remote Patient Monitoring Systems specifically focuses on technologically advanced (including wireless and remote) patient monitors, monitors with patient data processing applications, and monitors which are capable of data transfer to an EMR system – including equipment and peripherals that coordinate the flow of data to hospital electronic medical record (EMR) systems. Analysis of the global market in this report includes market sizing and forecasts for the following: the global market for advanced patient monitoring systems, 2012-2021; the global equipment and device market for advanced patient monitoring systems by product segment. The report contains segmentation of the global market for the industry, including market estimates by region, with country level information as well. Information provided includes: the global advanced patient monitoring market by region, 2012-2021 (North America, Europe, Asia Pacific, rest of world (ROW), global market); global market for advanced patient monitoring by country, estimated 2016 (United States, Germany, Japan, Canada, China, United Kingdom, Italy, France, Brazil, Mexico, ROW); the North American advanced patient monitoring market, 2012-2021; North American market for advanced patient monitoring by country, 2016 and 2021; the U.S. market for advanced patient monitoring systems, 2012-2021; U.S. advanced patient monitoring market by segment, 2016; the U.S. advanced patient monitoring market by end user (hospitals/acute care and home health/telehealth), and other markets. Advanced Remote Patient Monitoring Systems, 9th Edition, can be found at Kalorama Information: http://www.kaloramainformation.com/pub/10307860.html.
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About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
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SOURCE Kalorama Information