Research firm Kalorama Information has released a new report on the global advanced patient monitoring market, estimating its current worth at about $31.4 billion, inclusive of devices, peripherals, software, packaged services, and other applications.

According to Kalorama, the patient monitoring market has benefited from the demand to move to a more wireless and streamlined operation, both within major health facilities and in the home treatment markets. Kalorama’s report, Advanced Remote Patient Monitoring Systems, in its eighth edition, is said to be a comprehensive study on the patient monitoring industry, including patient monitoring equipment and devices that have advanced features.

“Cost savings are the major driver of sales, but the demand to integrate data into an EMR has also helped fuel purchases of new PM systems,” said Bruce Carlson, publisher of Kalorama Information. “There is also an increasing trend to upgrade to ambulatory and hand-held devices.”

According to the report, recent advances in remote patient monitoring include new peripherals; real-time audio and video features to enable “face-to-face” interaction between clinicians and patients; wireless communication systems that process and contextualize data in light of a patient’s condition; portable and ambulatory monitors; web-based access to the patient record; automatic data transfer to an electronic medical record; and full-service outsourcing involving a clinician to evaluate data and send a report to the attending physician.

Kalorama reports that the global advanced patient monitoring market has continued its expansion in both the institutional and home segments of the health market, with the United States and many European countries at the forefront of implementation. The advanced patient monitoring market includes products in segments such as blood management and function monitors, cardiac event and function monitors, neurological event monitors, and respiratory function monitors, among others. According to Kalorama’s report, patient monitoring parameters range from basic vital signs to electrocardiograms (ECGs) and implantable cardiac monitors.

The Kalorama report, Advanced Remote Patient Monitoring Systems, covers the US market in detail, featuring a section of market analysis for patient monitoring in the world’s largest healthcare system. The report also provides information for Japan, Germany, China, Canada, United Kingdom, France, Italy, Brazil, and Mexico.

The full report can be accessed on the Kalorama website.