The expanded adoption of remote monitoring and homecare in the healthcare environment is stimulating enabling technologies, such as wearable patient monitoring systems. Based on patient area networks, wearable patient monitoring platforms are ideally suited to facilitate flexible treatment regimes. Such technologies also provide impetus to the transition of European healthcare systems toward expanded use of homecare.
The development of wearable wireless monitoring systems has significantly improved patient mobility. Wearable wireless sensor networks have the advantage of being less restrictive in terms of the movement of patients than traditional telemetry systems. This has helped accelerate the patient recovery process.
At the same time, the technology is also encouraging expanded patient flows from hospitals to homecare settings. This, in turn, is resulting in substantial cost savings for healthcare facilities.
“In addition to enhancing patient comfort, speeding the recovery process, and supporting greater patient flows to cost-effective homecare settings, wireless systems are also helping avoid the high costs involved in the laying of wires and cables in hospitals,” says Frost & Sullivan Senior Research Analyst Aarati Ajay. “The return on investment is higher than that provided by wired systems and with advancements in wireless technology, the systems are likely to reach higher standards of sophistication.”
As a technology that helps reduce the tremendous cost burdens on hospital authorities, wireless networking has been widely adopted by healthcare facilities across Germany, France, and the United Kingdom. Technological advances that enable superior product development will further bolster uptake levels.
For instance, technological progress is likely to assuage concerns over the reliability of vital signs data transmitted over shared wireless networks. The ability of sophisticated wireless wearable sensor networks to ensure the safety and integrity of such data is set to drive adoption levels over the next five to seven years, with growth opportunities arising in hospital as well as homecare settings.
“While significant progress has been made, the technologies that have been considered for the development of these wearable devices are still facing minor technical challenges,” cautions Ms. Ajay. “There are several competing technology platforms that are being tested to create unique patient area networks.”
Apart from technology issues, concerns also linger about regulatory challenges and the high outlays involved in achieving cost-benefit data. The process of accumulating cost-benefit data needed to receive regulatory approvals is both lengthy and extremely expensive. In addition, manufacturers have to present sufficient clinical data to medical practitioners to convince them of the value of novel devices. Accordingly, only large and established market participants can attempt to introduce emerging technologies in the market.
“At this stage where the market needs to be developed, vendors need to come together and promote cooperation over competition,” concludes Ms. Ajay. “There needs to be a consensus with regard to the wireless models required, interoperability issues, and security standards that should be used in these devices.”
If you are interested in a virtual brochure, which provides manufacturers, end-users, and other industry participants an overview of the latest analysis of the Strategic Opportunities Assessment for Wearable Wireless Patient Monitoring Markets in Europe (B757-56), then send an e-mail to Radhika Menon Theodore, Corporate Communications, at [email protected] with the following information: your full name, company name, title, telephone number, fax number and e-mail address. Upon receipt of the above information, an overview will be sent to you via e-mail.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.