Technical advancement in the remote patient monitoring market is one of the key factors that is expected to contribute to its growth over the next couple of years, according to a new report.

The report conducted by TechNavio and released by MarketResearch.com reveals that the global patient monitoring system market will reach $9.3 billion in 2014. The report focuses on United States, EMEA, and APAC.

"Remote patient monitoring (RPM) is greatly minimizing hospital stays, resulting in a reduction of the cost of healthcare delivery. Thus, RPM helps healthcare centers reduce costs and increase business opportunities for healthcare service providers while integrating systems and providing necessary operational facilities. As a result, the patient monitoring systems market stands to gain," report TechNavio analysts.

In spite of the demand for these systems, the high price of these systems hinders the growth of this market. However, the growth opportunities in Europe and APAC are expected to drive the market.

The global patient monitoring systems market is marked by the slow recovery of the North American market. This makes the study an important one for companies to fully understand the potential in the market and formulate their own strategy.

The report, Global Patient Monitoring System 2010-2014, is based on extensive research and inputs from industry experts, vendors, and end users. It examines the factors impacting the evolution of this market, including the key trends, drivers, and challenges. Further, it contains an in-depth understanding of the key vendors including a SWOT analysis for each vendor.

Companies mentioned in this report include: Philips Healthcare, GE Healthcare, Omron Healthcare, Drager Medical Gmbh, and Johnson and Johnson.

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