Next-generation patient monitoring systems earned an estimated $3.9 billion dollars for manufacturers in 2007, and this market could more than double in five years, according to a market research study released this week.

The report - High-Tech Patient Monitoring Systems - by the life sciences research firm Kalorama Information, covers the new generation of patient monitoring devices as well as data processing and EMR interface software that are crucial to these systems.

The report claims that an aging population and a shortage of healthcare workers have driven the development of systems that can monitor patients remotely, process data and even alert a healthcare worker if there is a problem.

The care of patients with chronic diseases, such as asthma, congestive heart failure and diabetes, eats up a great deal of U.S. healthcare spending, but these conditions are also among those most amenable to patient monitoring. The Kalorama report notes that better patient monitoring systems mean patients can leave the hospital sooner, thus reducing costs.

Given this demand, device manufacturers like Honeywell, GE and Abbott have added wireless communication, data processing and Web interfacing features. These features enable the systems to gather, sort and drop data into a patient's electronic medical record for future review.

Kalorama says the most useful patient monitoring systems are "intelligent" ones that can read the data based on pre-programmed algorithms for a patient's specific condition and automatically report to a healthcare worker or physician when measurements are abnormal.

"Data is important, but if your system only gathers data, you are just increasing the burden on the workers who have to then interpret that data," said Melissa Elder, an analyst for Kalorama Information. "The smart PM systems know that when a pre-defined number is hit, it's time to call the doctor."

Elder said some systems can even take patient care a step further, incorporating built-in video and audio interfaces so that the patient and physician can speak.