Posted in | News | Medical Robotics

Global Advanced Patient Monitoring Market Forecast at $46 billion by 2017'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.


Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.