According to a healthcare market research report published in September 2011 the revenue from the remote patient monitoring sector in the US is expected to grow at the rate of 25% every year, projections are till the year 2015.
The report was published under the name ‘Remote and Wireless Patient Monitoring Markets. The data for generating the report was gathered from trade publications, annual reports and through interviews with executives in the industry. Also Patient Health Monitoring (PHM) has announced that the revenue from the remote patient monitoring market is expected to exceed $ 22 billion annually.
The CEO of PHM further added that their entry point into the market is “Coumadin” management and that they are working towards accomplishing long term goals of venturing into other areas of disease management. He added that the growth in the remote patient monitoring market is fuelled by demand from the patient as well as physicians. In order to win a major part of the market share, PHM has entered into a private placement with DRM. This arrangement involves increase in the share distribution between the two companies. PHM plans to invest the additional capital gained through the arrangement with DRM in procuring more meters in order to expand its customer base.