The remote monitoring of patients is frequently cited as a key market for mobile health. A new report by GBI Research puts a value on what the device segment of the market is worth. Globally, the market will reach US$8 billion in 2017 growing at a compound annual growth rate of four percent from US$6.1 billion in 2010, says the research firm. It picks out India and China as two countries which will have sizeable patient bases and are underserved. Both are potentially lucrative for patient monitoring devices, says the research firm.
The report makes some familiar arguments about why adoption of remote monitoring is on the rise: how wireless technology can reduce healthcare costs in both the developed world and emerging markets of managing aging populations afflicted with chronic conditions. The data from remote devices monitoring patients offer greater convenience to physicians and patients while reducing hospitalisation costs, the report says.