Patient monitoring system market to hit $9.3B in 2014
The global patient monitoring system market will reach $9.3 billion in 2014, driven by the growth in remote patient monitoring, according to a new report from Infiniti Research, conducted by TechNavio.
The report focuses on the patient monitoring system market in the U.S., Europe, the Middle East, Africa, Asia Pacific and Japan. "Remote patient monitoring is greatly minimizing hospital stays, resulting in a reduction of the cost of healthcare delivery,” the report stated. “Remote patient monitoring helps healthcare centers reduce costs and it increases business opportunities for healthcare service providers while integrating systems and providing necessary operational facilities. As a result, the patient monitoring systems market stands to gain."
However, despite the demand for these systems, their relatively high cost hinders market growth in some areas, according to the researchers. Growth opportunities in Europe, Asia Pacific and Japan are expected to drive the market, the report concluded.
The report focuses on the patient monitoring system market in the U.S., Europe, the Middle East, Africa, Asia Pacific and Japan. "Remote patient monitoring is greatly minimizing hospital stays, resulting in a reduction of the cost of healthcare delivery,” the report stated. “Remote patient monitoring helps healthcare centers reduce costs and it increases business opportunities for healthcare service providers while integrating systems and providing necessary operational facilities. As a result, the patient monitoring systems market stands to gain."
However, despite the demand for these systems, their relatively high cost hinders market growth in some areas, according to the researchers. Growth opportunities in Europe, Asia Pacific and Japan are expected to drive the market, the report concluded.