Connected health M2M market to grow at CAGR of 33 per cent, says TechNavio
February 4, 2015
The global connected health M2M market is expected to grow at a CAGR of 33 per cent from 2014 to 2019, according to Illinois-based technology research company TechNavio. According to the report, the aging global population and increases in chronic diseases are expected to contribute to market growth.
With an increase in chronic illnesses such as diabetes, arthritis and cancer in the aging population, specifically in North America and Western Europe, the dependency on families and caregivers is increasing. Patients in these segments tend to require home care, on top of care administered in hospitals.
“Connected health M2M offers a remote patient monitoring facility that allows healthcare practitioners to monitor patients in their home,” said Faisal Ghaus, vice president of TechNavio.
The report puts emphasis on the adoption of this kind of remote patient monitoring in which the health of patients can be monitored by physicians from a remote location.
“Remote patient monitoring is practical for several health issues and is expected to propel the growth of this market over the next four years,” said Ghaus.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.