Though growth isn’t as high as it could be, opportunities are opening up for the remote patient monitoring (RPM) market in healthcare, according to a new report from Frost & Sullivan. Entitled “US Remote Patient Monitoring Market“, the report predicts annual growth of 13.2 percent until 2020.
Commenting on the report’s findings in a statement, researcher Victor Camlek asserted this market “is currently challenged by the lack of a gold standard trial that all stakeholders endorse as proof of concept,” adding that continued demonstrations of successful deployments could “finally prove to all stakeholders that these products are of significant value,” which should encourage market growth. Despite that obstacle, Camlek observes that this is “an opportune time for RPM systems to thrive,” pointing to the growing presence of biometric sensors and monitoring, and patients’ increasing comfort with this kind of technology.
Notably, the report asserts that the RPM’s greatest potential lies in data analytics, echoing sentiments heard from experts like USC’s Dr. Leslie Saxon, who spoke at this year’s SXSW on how widespread biometric sensors could be used to dramatically enhance epidemiology and other population health research. Meanwhile, companies like BioIQ are already seeking to leverage biometric technology to monitor workforce health on a large scale. It seems that a transformation in healthcare is already underway, and now is the time for other players in the RPM market to show off what their technologies can do.
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