Worldwide, 3 million patients have a remote monitoring device at home that is monitored by a professional caregiver, states a new report by Berg Insight. Whether this market will grow is not a question, but HOW this market will evolve — that is the important question. Berg Insight sketches a future for connected medical devices with a compound annual growth rate (CARG) of 44.4 percent. It is estimated to reach €19.1 million connections by 2018.
Worldwide, 3 million patients have a remote monitoring device at home that is monitored by a professional caregiver, states a new report by Berg Insight. Whether this market will grow is not a question, but HOW this market will evolve — that is the important question. Berg Insight sketches a future for connected medical devices with a compound annual growth rate (CARG) of 44.4 percent. It is estimated to reach €19.1 million connections by 2018.
Patients that use connected medical devices for various forms of personal health tracking are not included in this figure.
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They claim revenues of remote patient monitoring has reached €4.3 billion in 2013. Between 2013 and 2018 they expect revenues will grow 35 percent, reaching €19.4 billion. What kind of monitoring is now booming in this market?
- Cardiac rhythm management accounts for two-thirds, or 2 million connections, and will grow to 4 million by 2018
- Sleep therapy represents about 0.54 million people
- Telehealth, medication adherence and airflow monitoring have 0.34 million connections. An interesting fact is that pharmaceutical companies will move into this space as well.
Vitaphone expects Berg Insight to be be right: this market will grow. We are definitely going to help to develop a better and more efficient healthcare system by introducing cutting edge solutions in remote monitoring of vital signs.
Source: Berg Insight