The market for wireless technologies in healthcare in the U.S. is set for an explosion. According to projections, the market will see a five year compound annual growth rate (CAGR) of 33 percent, and a value surging upwards from a $1.8 billion value in 2005 to over $7 billion in 2010, according to a new study from Kalorama Information.
One major cause of the growth is the increased reliance on real-time access to data for streamlining healthcare decision making processes. Thus, use of technologies such as Zigbee, RFID, and WWAN, is expected to grow considerably. Zigbee alone is showing a CAGR of 75 percent over a five year period. Currently Wireless Local Area Networks (WLAN) and Bluetooth are the most widely sought after technologies, but will lose market share to the aforementioned three sectors as they gain prominence in healthcare, according to the study.
Facilities are attracted by the possibility of improved patient care, cost savings, remote patient monitoring, and greater regulatory compliance as a resource for providers on all levels.
“The enormous impact on healthcare—not only in the U.S but in the global market as well—is already happening,” said Steven Heffner, publisher of Kalorama Information. “This is a key opportunity not only from a healthcare perspective, but also from the technology provider aspect where both the current market leaders and new entrants into the field have a green light for substantial growth.”