HomeHealthcare Monitoring Technology Estimated to Be Worth $10 billion

Companies across the world are working to develop innovative solutions for the aging populations of Europe, the United States and Canada. Many of these products and services for baby boomers are designed to enable older adults to live independently during their golden years.

One new report conducted by the Swedish analyst firm Berg Insight has estimates that this emerging market is worth $10 billion in 2010. New devices that utilize wireless technology are also being created for this industry.

"Progress is being made in the adoption of wireless technology among manufacturers of medical monitoring equipment, but there is still a long way to go before remote monitoring becomes a standard practice in the healthcare sector," said senior analyst André Malm, according to HealthcareITNews.com.

He predicted that health-related apps will be released for smartphones in increasing numbers, making mobile health programs (mHealth) more accessible. "The number of apps focusing on chronic disease management is however still relatively low," he explained.

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