The global market for remote patient monitoring devices is expected to grow from $6.1 billion in 2010 to $8 billion in 2017, according to a report by GBI Research, MobiHealthNews reports (Dolan, MobiHealthNews, 3/26).
Report Findings
GBI estimated that the market will grow at a compound annual growth rate of 4%.
The report noted that China and India could be “potentially lucrative markets” for growth because of “huge patient bases and … underserved” populations (Bowman, FierceHealthIT, 2/27).
Reasons for Growth
According to the report, advancements in wireless and censor technology and increasing life expectancy are driving the need for remote patient monitoring devices.
