From 2010 to 2011, the usage of remote monitoring in healthcare grew by 22 per cent worldwide to 241,000 patients, according to research firm InMedica.
However the device revenue generated as a result only grew by five per cent over the same period. The report says device revenue grew by 18 per cent from 2011 to 2012.
The firm says slow revenue growth was the result of poor economic conditions which have cut back on health spending, particularly in Europe.
In addition, there has been ambiguity on what impact healthcare reform and readmission penalties will have on patient monitoring in the US.
But the report does foresee that patient monitoring will increasingly be incorporated into post-acute care from 2013.
In addition, healthcare payers are predicted to adopt such services as a means to reduce costs.
As a result, the firm says in 2013 the remote monitoring market will grow by 55 per cent, in terms of device and service revenues.