In late 2013, there were 3 million patients connected to remote patient monitoring devices. Researchers suggest the use of patients’ personal mobile devices has become a preferred method of health monitoring and tracking, contributing to the increase in the market.
Barriers to increased market growth include healthcare organizations’ and providers’ resistance to change, misaligned incentive structures and improper financing of wireless solutions, according to the report.
The global remote patient monitoring market was valued at $5.87 billion by the end of 2013, and it is expected to grow at a compound annual growth rate of 35 percent, reaching $26.48 billion by 2018, according to the report.
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