Wearable Skin Patches Usher in a New Era in Patient Monitoring
Patch Devices Employing Flexible Electronics are Fostering Growth in Personal Data Capture and Reporting According to Greystone Research Associates
AMHERST, NH, March 6, 2017 (Newswire.com) - In today’s connected world, there is a growing need for remote medical care services and wireless monitoring capabilities. The latest advances in patch technology and wireless communication are making this connectivity possible. The global market for wireless skin patches that monitor patients was 182 million in 2016 and will grow at 16 percent for the remainder of the decade.
Activity surrounding the current generation of wirelessly enabled patient monitoring patches consists of two distinct product areas. The most advanced segment from a commercialization standpoint consists of wirelessly enabled devices that are condition or parameter-specific. These products can be viewed as monitoring platforms that include the device and/or enabling hardware, product-specific software, and a patient gateway interface that allows users to take full advantage of the connectivity capabilities of the product to access, log and communicate data and information.
A second segment consists of OEM wirelessly enabled patches – devices that incorporate wireless communication capabilities and which have been created to be marketed to non-specific monitoring device developers wishing to enter the market for connected devices but without contracting for a full device platform development program and the associated investment in cost and time-to-market.
Patch products capable of monitoring patient physiological parameters include reusable devices as well as disposable models. Some require a prescription while others are available over the counter. Several are integrated with a custom patient interface while a growing number utilize applications designed to run on smartphones.
For patients, linking self-monitoring devices to caregivers can provide many significant benefits. This approach increases proactive self-management and enhances communication with physicians and other healthcare providers for improved outcomes and quality-of-life. Improved communication with patients means physicians can track compliance with instructions more meaningfully. Access to fundamental real-time clinical information leads to more timely and useful interventions between office visits.
The results of a recent survey conducted by Greystone Research Associates are detailed in a new and comprehensive report. Patient Monitoring Markets for Wireless Skin Patches analyzes the market for wirelessly enabled wearable patches. The report includes analysis of marketed and development-stage devices, demand drivers and markets, profiles of market sector participants and market data and forecasts.
More information is available at http://www.greystoneassociates.org
About Greystone
Greystone Research Associates is a medical technology consulting firm focused on the areas of medical market strategy, product commercialization, venture development, and market research. We assist medical and healthcare market participants in achieving their business objectives through the creation of detailed development strategies, product commercialization programs, and comprehensive market and technology research and analysis. Our market research publications are designed, researched and written to provide timely and insightful information and data on focused market segments, with the aim of providing market participants with the essential knowledge to refine and execute their marketing plans and financial targets.
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Source: Source: Greystone Research Associates