Wireless Patient Monitoring Market Growth and Value Chain 2016-2026
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Despite high level of medical observation, medical monitoring and record maintenance by a physician or a nurse, it is difficult to keep in mind/track the various patient data/information for over a period of time. Hence, the Patient Monitoring System (PMS) is invented.
To reduce the human error and to lessen the burden of doctor about the patient’s health there exists a methodology for monitoring patients from any location with the use of GSM network and Very Large Scale Integration (VLSI).
PMS measure the physiological signs in continuous or at regular intervals. This would be used in monitoring physiological signals which includes ECG, Respiratory effects, Blood Pressure both in Invasive and Non-Invasive Methods, oxygen levels in human blood, body temperature, and other electrophysiological conditions, etc.
This has led to the improvised version of PMS which can get Wireless Patient Monitoring System (WPMS) into the patient’s life. WPMS made the patient monitoring much sophisticated and reliable to the patients living in the remote areas. The patients can easily send their health information to the respective physicians at any given time from any location at any time. This has led many innovations in the present health care sector with many therapeutic areas covering through WPMS.
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The WPMS are majorly used in hospitals and residents which help the nursing staff to easily manage the data of different patients and carry on the ad-hoc emergency cases. The patients are asked to follow proper guidelines on how to use the WPMS at specific periods. Providing data to the physicians helps to maintain records for a longer period.
Working principle of WPMS consists of three elements categorized as patient units, main controller units and observer units. The basic functional principle includes heart rate sensor, temperature sensor, ECG sensors, GPS modems, BP sensors, GSM modems and microcontroller.
The PMS device on multiple sensor and electrodes used for receiving physiological signals like as SpO2Finger Sensors, ECG Electrodes, Blood Pressure Cuff and Temperature Probe to measure the physiological signals.
Wireless Patient Monitoring Systems Market: Segmentation
The global market for Wireless Patient Monitoring Systems are broadly classified on the basis of product type, application and end user.
Based on Product type, the Wireless Patient Monitoring Systems has been segmented as follows:
Cardiac Monitoring Devices
Heart Rate Monitors
Fetal Heart Rate Monitor
Respiratory Monitoring Devices
Respiration Rate Monitor
Sleep Apnea Monitor
Blood Glucose Monitor
Prothrombin Time Monitor
Based on application type, the Wireless Patient Monitoring Systems has been segmented as follows:
Chronic Obstructive Pulmonary Disease Monitoring
Congestive Heart Failure Monitoring Device
Coronary Heart Disease Monitoring Device
Cancer Monitoring Device
Diabetes Monitoring Device
Other Disease Monitoring
Based on end user, the Wireless Patient Monitoring Systems has been segmented as follows:
Other (including first responders, institutional, physician offices, and military)
Wireless Patient Monitoring Systems Market: Drivers and Restraints
There are large number of patient pool prefer to manage health checkup from remote place, increase in the health awareness, the technological advancements in data recording for a longer period of time, therapeutic treatment and growing incidence of cardiovascular disease led to the increase in Wireless Patient Monitoring Systems.
The drawback for the Wireless Patient Monitoring Systems is the high cost, lack of uniform reimbursement.
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Wireless Patient Monitoring Systems Market: Overview
The Global Wireless Patient Monitoring Systems market is expected to expand at healthy CAGR owing to increasing adoption of the products across the world. Among end users, hospital end user segment is expected to account for maximum share due to a requirement of advanced healthcare infrastructure and low cost.
Wireless Patient Monitoring Systems: Region-wise Outlook
Geographically, the global wireless patient monitoring systems market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. Among all the regions, North America will continue to lead the global market for wireless patient monitoring systems due to high purchasing power. Asia- Pacific is expected to account for the second largest share in the global market primarily due to increasing number of medical interventions. A regional overview can be a directly proportional to the population.
Wireless Patient Monitoring Systems: Key Players
Key players operating in the global Wireless Patient Monitoring Systems are American TeleCare, Cardiocom, Carematix, Cybernet Medical Corporation, Drager Medical, GE Healthcare, GlobalMedia Group, Honeywell HomMed.
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