MOUNTAIN VIEW, Calif.
Feb. 14, 2013
/PRNewswire/ -- Wireless patient monitoring (WPM) technology is attracting the interest of market majors as well as a significant number of start-ups. Venture capitalists (VCs) are showing keen interest in the disruptive WPM technology and will play a major role in bringing it to market.
New analysis from Frost & Sullivan's
Wireless Patient Monitoring Technologies—Evaluation of Funding Prospects
research finds that information and communication technologies (ICT) play a major role in placing WPM technologies within consumers' reach. VCs realize the WPM market offers long-term returns; however, the lack of standards in interoperability may delay the scaling up of WPM technologies.
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"Investment funding in WPM technologies have increased, mainly due to an aging population and a consequent rise in the incidence of chronic diseases," notes Technical Insights Industry Analyst
Saju John Mathew
. "There is a growing need to manage patients in remote locations, as hospital costs are escalating and the ratio of physicians to patients is skewed."
WPM is not only a convenient tool for elderly patients to monitor their day-to-day health, but the technology also helps the government and end users reduce healthcare expenditure. Therefore, the government needs to encourage reimbursement for healthcare that employs WPM, or else end users may be reluctant to adopt this technology. Similarly, the irregular and diverse safety regulations across different geographies could hinder widespread technology adoption.
Another major hurdle to the global uptake of WPM technology is the digital divide between the developed and developing countries. The lack of standardization of wireless data interfacing sensors and monitoring devices needs attention as soon as possible. Standardization among the different entities in the WPM market is necessary to improve interoperability among devices, choice of system assembly, and other related services.