Twease.org - New Report Added in Healthcare Reports Database Remote and Wireless Patient Monitoring Markets
Advanced patient monitoring systems that provide wireless or remote patient monitoring to share data outside the immediate patient care area continue to see sales growth. Features on these devices can range from basic remote tracking ability to "face-to-face" interaction between clinicians and patients, or even data sorting of the vast amount of data collected in order to put it into the context of a patient's condition. Many systems now transfer data to an electronic medical record (EMR), and some come with full-service outsourcing.
This Kalorama Information report, Remote & Wireless Patient Monitoring Markets covers three product areas: wireless and remote patient monitors, patient data processing applications and equipment, and EMR data transfer equipment and applications which coordinate the flow of data to hospital electronic medical record systems. Data is provided for the US market in 2010 and forecasted to 2015.
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Many companies have entered this growing field. Among the offerings discussed in the report are the following:
- American Medical Development (AMD) Telemedicine Products
- American TeleCare
- Cybernet Medical Corporation
- Drager Medical
- GE Healthcare
- GlobalMedia Group
- Honeywell HomMed
- InTouch Health
- LifeWatch Technologies
- Philips Medical Systems
- St. Jude Medical
- Second Opinion Telemedicine Solutions, Inc.
- Welch Allyn
There are four primary markets for these new technologies:
- Home healthcare;
- Nursing homes; and
- Other (including first responders, institutional, physician offices, and military)
Disease categories being monitored remotely:
In addition to providing market sizes by venue serviced, the report also breaks out the market for remote and wireless patient monitoring based on the disease category being monitored by these devices for the following categories:
- Asthma Monitoring
- COPD Monitoring
- CHF Monitoring
- CHD Monitoring
- Cancer Monitoring
- Diabetes Monitoring
- Other Disease Monitoring
Patient data processing applications and equipment use algorithms to evaluate monitoring measurements for a patient's specific condition(s). Usually, these can be customized by the physician, with reports sent to the physician. In the market for high-tech patient monitoring systems, the applications and equipment are either integrated into the patient monitoring system or are add-ons to the measuring systems. As with data processing, EMR data transfer equipment and applications for this report are either components of, or add-ons to, patient monitoring systems. This report does not include EMR applications.
Most players in the market are discussed as part of Kalorama's competitive analysis of the remote patient monitoring market. In addition, as part of our coverage of the marketplace for remote and wireless systems, several major manufacturers are profiled in detail in this report.
This report was constructed using both a primary and secondary research approaches. Annual reports, trade publications and other sources were thoroughly researched, and interviews conducted with industry executives were used to make assessments of markets and to discover trends and construct forecasts.
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New technologies in remote patient monitoring have the potential to combat soaring healthcare costs and personnel shortages, and reduce hospitalization times, according to Kalorama Information. In a new report, the healthcare market research firm values the U.S. market for remote patient monitoring at $7.1 billion in 2010 and forecasts an annual growth rate of 25.4%, reaching $22.2 billion by 2015. The report details one area of remote patient monitoring that is blossoming, the 'eICU' or 'tele-ICU.'
Due to the predicted shortages of intensivists, cardiologists and nurses in the U.S. in the next 5 to 10 years, the concept of these eICU systems in a critical care setting is growing. The Swedish Medical Center in Seattle has been in the vanguard with the adoption of an eICU, according to Kalorama's report. This medical center installed the Visicu (Philips Healthcare) electronic ICU, which allows intensivists and critical care nurses at the eICU command center to make virtual rounds of patients through an elaborate network of cameras, monitors, and two-way communication links via T1 lines. Another facility, Sentara Healthcare in Norfolk, Virginia, also installed an eICU program and has reported that it reduced intensive care mortality rates by 25% and shortened the average length of stay for patients in the eICU setting by 17%. In this example, per patient costs dropped $2,150 based on reduced patient expenses and increased ICU capacity, generating approximately $3 million in savings for the facility.
"With an eICU intensivists can remotely monitor the condition of patients, check vital signs, and communicate with hospital personnel, patients and their families in multiple locations from one command center," said Bruce Carlson, publisher of Kalorama Information. "It should help to relieve stress on cardiologists, critical care physicians and nurses."
Philips' Visicu is just one of many systems hospitals are purchasing for remote patient monitoring. Products by Draeger AG, GE Healthcare and Abbott are among those featured in Kalorama’s report and figure into their market numbers.
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