The U.S. market for advanced patient monitoring systems is growing at a rapid rate. According to a study by Kalorama Information, it has grown from $3.9 billion in 2007 to $8.9 billion in 2011. It is expected to double by 2016 with an estimate of $20.9 billion. 
Some of the major contributors to this growth in remote and wireless patient monitoring systems are constricted budgets, the overcrowding of emergency rooms and healthcare facilities preparing for a growing number of elderly patients over the coming years.
Researchers in Kalorama Information’s report, “Remote and Wireless Patient Monitoring Markets,” estimate “a looming healthcare crisis of unseen proportions” in the U.S. healthcare system.
With limited healthcare personnel and funds to meet the industry’s growing demand, skilled nursing facilities, hospitals, home healthcare facilities and physician offices will turn to or further embrace remote and wireless monitoring devices to share patient data between different locations using wireless networks.
The report states that advances in remote patient monitoring include or will occur in the next four years, such as real-time audio and video for “face-to-face” interaction between clinicians and patient, new peripherals, and devices that transmit data to a physician’s EMR system.
Melissa Elder, Kalorama Information analyst and author of the report, said that new patient monitoring technologies are designed to minimize spending and reduce the patient risk of medical errors.
“Patient-involved healthcare is on the rise and wireless technologies have catered to this trend,” Elder said in an interview with InformationWeek Healthcare. “Some of the challenges [at healthcare delivery organizations] can be somewhat offset by implementing newer patient monitoring technologies capable of not only monitoring patients, but sorting data, and automatically updating patient records. This allows health staff to provide care more efficiently and also monitor patients in off-site locations.”
 Lewis, Nicole. “Remote Patient Monitoring Market to Double By 2016.” InformationWeek Healthcare. Web. 25 July 2012.