New York, July 10, 2012--Advanced patient monitoring systems with wireless capability and other features continue to be one of the fastest growing medical device areas in terms of revenue growth, according to Kalorama Information. The healthcare market research publisher says sales of these systems more than doubled between 2007 and 2011. In its recently published report, Remote and Wireless Patient Monitoring Markets, Kalorama suggested that attempts to avoid ER overcrowding are one of many factors leading hospitals to purchase these systems.
According to the report, in the United States alone there are over 35 million hospital admissions each year, and nearly 120 million people visit a hospital emergency room. These statistics require a significant number of hospital resources, namely staff and available beds. However, a recent survey by the American Hospital Association has discovered capacity constraints, primarily at the emergency department level. In addition to hospitals operating at or over capacity, the concern for ER diversion (which sends patients en route by ambulance to nearby hospitals) has resulted in a number of facilities looking for ways to address the issue.
"Portable monitoring devices, which increase the ability of the staff to keep track of patients, may reduce some of the need for diversions," said Melissa Elder, Kalorama Information analyst and author of the report. "Additionally, staff shortages are another cause of diversions which may be addressed with the improved efficiency and workflow gained by using more efficient monitoring devices."
According to the report, advances in remote patient monitoring include new peripherals, 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 patient records, systems that transfer data to an electronic medical record (EMR), and full-service outsourcing that includes a clinician to evaluate data and send a report to the attending physician. The market for these advanced patient monitoring systems includes wireless and remote patient monitors (equipment and applications), applications and equipment for processing data, and applications and equipment for transferring patient monitoring data into an EMR. The U.S. market had a value of $3.9 billion in 2007, increasing to $8.9 billion by 2011.
"There are several factors driving double-digit growth in this market," said Elder. "These include the aging of the population, increasing healthcare costs, and dwindling healthcare resources which compel organizations to find devices that can help with staff shortages."
More information about remote and wireless patient monitoring, including models, companies competing in the market and future growth, can be obtained in Kalorama Information's report, Remote and Wireless Patient Monitoring Markets.
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