Report: Wireless Patient Monitors the Fastest Growing Mobile Medical Device Segment

In a new report published today from market research firm Kalorama Information, it was found that wireless patient monitoring devices are currently the fastest growing segment in the larger medical device industry in terms of revenue earned.

Revenues for these devices have more than doubled in the last four years, and are expected to double again over the next four years.  With a growth rate of 23% between 2008 and 2010, these devices saw greater growth than what Kalorama had estimated for minimally invasive surgical devices, specialty catheters and defibrillators — devices which have drawn attention in recent years.

According to the report, the primary driver for the recent growth in wireless patient monitoring is attributed to population aging.  The percentage of the population that’s 65 years or older reached 13 percent in 2010 and is expected to reach 20.7 percent by 2050.  This older population will result in a higher number of cases related to things like COPD and diabetes, which are among the top conditions requiring monitoring.  The success wireless patient monitoring has in reducing cost and improving care is another primary driver of its growth.

“It is unusual to see over twenty percent growth in the tight, volume-buy medical device market,” said Bruce Carlson, publisher of Kalorama Information. “The new wireless patient monitoring systems aren’t facing these obstacles because they appeal both to the need of payors to cut hospital stays and to the need of providers to deal with reduced staff.”

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