Several Factors Converging to Drive Growth in Patient Self-Monitoring
(Amherst, NH) – Current efforts to reduce the societal impact of chronic ailments such as diabetes and heart disease are focused on several factors, including the identification of genetic and environmental risk factors, patient education, and improved patient compliance. For conditions other than diabetes, the vast majority of monitoring is now performed in physician offices or similar healthcare settings. But this will change. The convergence of new measurement technologies, patient demographics and managed care cost initiatives is driving patient monitoring for a number of conditions from caregiver facilities and into homes. The ability of patients to monitor their own blood analyte levels is deemed to be a critical tool in reducing the pathological effects of poorly controlled disease factors.
“Miniaturization and the availability of cost-effective microprocessors and memory chips with speeds and capacities that are a hundred-fold greater than components just three years ago are creating numerous opportunities for device developers,” explains David Clark, Greystone Associates analyst. “This flexibility is creating the potential to extend portable patient monitoring devices into healthcare markets previous beyond the reach of ambulatory measurement systems.”
The key enabler of this significant shift will be technological advances that will provide accurate readings in a format that consumers can understand, clearly indicating when a follow-up visit to a caregiver is needed. Systems that allow patients to share readings with physicians electronically are growing in popularity. Ultimately, the success of this self-test market will rely on monitors that can provide accurate values for the various analytes that are associated with health risk, presenting them to the patient in the proper context.
A new research study, Patient Self-Monitoring: Evolving Technology, emerging Opportunities, Analyzes and evaluates self-test monitoring technologies and products, assesses the market potential for existing and probable future products, examines next-generation monitor technologies, design issues and market factors, and provides forecasts and market segment data for self-monitoring products to 2012.
More information is available at www.greystoneassociates.org .
About Greystone
Greystone 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: Greystone Associates
