Increasing Incidence of Chronic Diseases to Escalate Adoption of Healthcare Informatics and Patient Monitoring Systems

Published On : 09 Aug 2017

QYResearchReports.com has announced the addition of a report, titled “Global Healthcare Informatics and Patient Monitoring Market Size, Status and Forecast 2022,” to its offerings. Data has been derived from various paid and unpaid sources such as journals, white papers, presentations, and press releases to collate this study, which provides a 360-degree view of the global healthcare informatics and patient monitoring market.

The widening pool of patients suffering from chronic conditions worldwide is one of the primary growth stimulants of the global healthcare informatics and patient monitoring market. In addition, the alarming rise in the incidence of chronic disorders is paving way for rapid technological advancements. These advancements will be instrumental in establishing an effective treatment platform for monitoring disease progression. Rapid technological advancements are, therefore, playing a vital role in the growth of the market. 

Moreover, the increasing consumer spending on healthcare and rising awareness regarding the availability of innovative technologies are working in favor of the global healthcare informatics and patient monitoring market. The rising number of homecare centers and hospitals, especially in developing countries, is also allowing the market to gain significant traction. Besides this, the lack of nursing staff in several countries across the world is boosting the adoption of healthcare informatics and patient monitoring systems. 

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On the other hand, these systems are generally high priced, which deters their widespread adoption, particularly in price sensitive countries. Furthermore, there have been several cases of recalls of patient monitors. The rise in such cases is, thus, negatively impacting the growth of the market. Nevertheless, the booming telemedicine sector is likely to shape the future of the market.

On the basis of type, the global healthcare informatics and patient monitoring market is segmented into metropolitan and urban hospitals and healthcare facilities and rural hospitals and healthcare facilities. The demand for healthcare informatics and patient monitoring systems is expected to remain strong in metropolitan and urban setup throughout the forecast horizon. The rising prevalence of chronic diseases such as cardiovascular and respiratory diseases and the growing number of hospitals are supplementing the growth of the segment.

Based on application, the market is divided into hospitals, home healthcare, and ambulatory care centers. The hospitals segment will account for a sizeable share in the market throughout the same period. The widening pool of patients suffering from chronic disorders and rising number of hospital beds are contributing to the growth of the segment. From the geographical standpoint, the global healthcare informatics and patient monitoring market is fragmented into United States, India, Europe, China, Southeast Asia, and Japan.

Some of the prominent companies operating in the global healthcare informatics and patient monitoring market are Nihon Kohden India Pvt. Ltd., Wipro GE Healthcare, Philips India Ltd., Mindray Medical India Pvt. Ltd., India Medtronic Pvt. Ltd., Schiller Healthcare India Pvt. Ltd., and BPL Medical Technologies Pvt. Ltd.

 

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