Report: Remote Patient Monitoring Market to See Continued Growth

The remote patient monitoring market grew by nearly 20% from 2011 to 2012, and the market is expected to continue growing over the next several years, according to a report by Kalorama Information, Clinical Innovation & Technology reports.

Details of the Report

For the report, researchers analyzed the market for remote patient monitoring-related technology, which includes:

• Applications and equipment for data processing;
• Applications and equipment for transferring patient monitoring data into electronic health records; and
• Wireless and remote patient monitoring systems.

Findings on Market Growth

The report found that the remote patient monitoring market reached $10.6 billion in 2012, up from $8.9 billion in 2011 (Clinical Innovation & Technology, 3/20). The 2012 market total is more than twice the 2007 market total of slightly less than $4 billion.

The report also predicted that the remote patient monitoring market would reach $20.9 billion by 2016.

Factors Contributing to Growth

According to the report, factors that are contributing to the growth of the remote patient monitoring market include:

• Advancing technologies;
• Aging populations;
• The cost-effectiveness of remote patient monitoring systems;
• Dwindling health care resources; and
• Higher health care costs.

Comments From Researchers

In a statement, Melissa Elder — a Kalorama analyst — said, “The market has benefited from the demand to move to a more wireless and streamlined operation both within major health facilities and in the home treatment markets” (McCann, Healthcare IT News, 3/22).

The researchers wrote that remote patient monitoring technology is displacing older equipment and will continue to do so as stakeholders resolve issues related to interoperability, privacy and security (Clinical Innovation & Technology, 3/20).