Patient care is improving at home and in remote areas, as rising rates of chronic disease, a growing elderly population and advancements in wireless and sensor technologies continue to drive the global patient monitoring market, according to a new report by GBI Research. The new report shows that efficient patient management through the use of wireless technology will help to reduce the rising healthcare burden which now affects many developed and developing countries, as large elderly populations who have increased life expectancy further add to the global patient pool.
Wireless technology has a wide range of applications in remote patient monitoring. Remote monitoring enables a patient to undergo hospital visits of reduced length and have constant monitoring at home. This not only improves the quality of life for elderly and chronically ill patients, but also leads to a significant reduction in healthcare expenditures. Wireless remote patient monitoring can be used to provide real time data from remote locations.
Over the past few years, the number of cases of chronic diseases such as cardiovascular disease, diabetes and chronic respiratory diseases has increased, due to the growing population in developing nations. According to the World Diabetes Foundation (WDF), 80 percent of the diabetic population is expected to come from low and middle income countries by 2025. Emerging economies such as India and China, with huge patient bases and an under-served market, are expected to act as potentially lucrative markets for remote patient monitoring devices. The global patient monitoring devices market is expected to grow at an annual rate of four percent to reach $8 billion in 2017.