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Ageing Demographic Boosts Uptake Of Wireless Patient Monitoring Devices Across Europe
New analysis from Frost & Sullivan, a leading market analyst has found that demand for wireless assisted living devices, wireless vital signs measurement devices and portable personal health (wellness) devices is rapidly growing across Europe.
New analysis from Frost & Sullivan, European Market for Wireless Patient
Monitoring Devices, finds that the market for wireless assisted living devices is growing at a rapid pace with earned revenues of $89.9 million in
2008 estimated to reach $176.9 million in 2015. The following market
sectors are covered in the research: wireless assisted living devices, wireless
vital signs measurement devices and portable personal health (wellness)
devices.
The primary reason for this growth is rising awareness levels among an ageing population about devices that help in attaining a better standard of life. The elderly prefer to age at home - a trend supported by the medical community, which is keen on reducing costs associated with hospital stay.
“The most important market driver is the expanding number of elderly across Europe,” notes Frost & Sullivan Research Analyst Akanksha Joshi. “This has been accompanied by increasing awareness about the need to provide a better standard of living to them.”
The healthcare market in Europe is currently focused on reducing hospital
costs. At the same time, there have been efforts to provide quick, real-time
treatment to patients. This has resulted in the growing preference of the
medical community for wireless patient monitoring devices.
“There exists considerable growth potential for wireless patient monitoring
devices across the region,” says Joshi. “Based on various research studies and
available clinical data, the importance of providing rapid, real-time diagnoses
is being realised due to the focus on home-based, wireless enabled patient
monitoring devices.”
However, reimbursement and public funding allotted for such treatment methods
are not clearly defined. Moreover, the target population is unaware of the
benefits of wireless assisted devices. There also exists a lack of proper
organisational infrastructure in some Western European countries.
European Market for Wireless Patient Monitoring Devices is part of
the Patient Monitoring Growth Partnership Services programme, which also
includes research in the following markets: European Patient Monitoring Market
Outlook - 2009, European Pulse Oximetery Market and, European Telemetry
Equipment Market
