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Wireless Medical Technologies Market Projected to Garner Significant Revenues by 2021
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Wireless medical technologies play an important role in implementation of electronic medical record (EMR) systems in hospitals. In addition, they are also used in devices that are implanted and worn by the user to control and measure body functions. Wireless devices are mainly classified into two main types: implanted devices and external devices. Implanted devices monitor hypertension, controls heart beats and provides functional electrical stimulation of nerves. External devices assist the movement of artificial limbs and monitor vital signs.
In terms of geographic, North America and Europe dominates the global wireless medical technologies market. The U.S. represents the largest market for wireless medical technologies followed by Canada in North America. In Europe, France, Germany and the U.K. holds major share of wireless medical technologies market. However, Asia is expected to show high growth rates in the next five years in global wireless medical technologies market due to increasing aging population in the region. For elder people, wireless medical technologies based devices offer important solutions for preventative and managed care at their home. In addition, increasing awareness among people about wireless medical devices is also contributing in the growth of wireless medical technologies market in Asia. Japan, China and India are expected to be the fastest growing wireless medical technologies markets in Asia.
In recent time, increased inaccessibility of healthcare services in rural and remote areas is key driver of global wireless medical technologies market. For instance, in India, about 70% of people are living in rural area. They are unable to receive effective healthcare services for management of chronic diseases. To overcome this problem, wireless medical technologies play a vital role in delivery of healthcare services in rural areas. Patients from distant locations can directly interact with physicians for their health concerns.
In addition, increased adoption of EMRs and wireless medical devices are also supporting in the growth of global wireless medical technologies market. Moreover, increasing healthcare spending has also fueled the growth of global wireless medical technologies market. However, lack of IT infrastructure and privacy and security issues in EMR systems are some of the major restraints for the global wireless medical technologies market. High maintenance costs of wireless medical technologies based devices also obstruct the growth of global wireless medical technologies market.
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Some of the major companies operating in the global wireless medical technologies market are Cisco Systems Inc., GE Healthcare Ltd., Philips Healthcare and McKesson Corp..
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