Aug 29 2015
MarketResearch.com's free whitepaper Healthcare IT: Patient Monitoring and Telemedicine estimates the value of the total global market for advanced patient monitoring at $22 billion. The market is expected to reach $46 billion in 2017.
The market for advanced patient monitoring encompasses medical devices, peripherals, software, and other applications. One of the fastest growing segments of this market is remote monitoring, which includes everything from online medical consultants to kiosks.
Studies show as much as 20 percent of patients seek second medical opinions. It is becoming more common for patients to reach out to online medical consultants, such as those offered by Massachusetts General Hospital, Cleveland Clinic, or other private businesses. The most commonly requested online opinions concern cancer, neurosurgery, cardiology, and orthopedics.
However, there are significant barriers for implementation of these types of services, including initial cost, technological incompatibility, privacy and security issues, and education of healthcare professionals as consultants. But, a bigger problem includes reluctance from patients, who report concerns of data security and standardization of care.
According to the whitepaper, the annual savings from remote monitoring could reach:
- $10.1 billion for U.S. patients with congestive heart failure
- $6.1 billion for U.S. patients with diabetes
- $4.9 billion for U.S. patients with chronic obstructive pulmonary disease
For many patients facing life-threatening illnesses, second opinions may steer them to different treatment opportunities.
Source: http://www.marketresearch.com