Lucrative opportunities await manufacturers in the European wireless patient monitoring devices market, particularly in the wireless assisted living devices segment. This segment is growing at a rapid pace. The primary reason for this growth is rising awareness levels among an ageing population about devices that help in attaining a better standard of life. The elderly prefer to age at home - a trend supported by the medical community, which is keen on reducing costs associated with hospital stay.
New analysis from Frost & Sullivan (http://www.patientmonitoring.frost.com), European Market for Wireless Patient Monitoring Devices, finds that the market earned revenues of $89.9 million in 2008 and estimates this to reach $176.9 million in 2015. The following market sectors are covered in the research: wireless assisted living devices, wireless vital signs measurement devices and portable personal health (wellness) devices.
"The most important market driver is the expanding number of elderly across Europe," notes Frost & Sullivan Research Analyst Akanksha Joshi. "This has been accompanied by increasing awareness about the need to provide a better standard of living to them."
The healthcare market in Europe is currently focused on reducing hospital costs. At the same time, there have been efforts to provide quick, real-time treatment to patients. This has resulted in the growing preference of the medical community for wireless patient monitoring devices.