The European market for wireless patient monitoring devices is expected to reach $176.9m in 2005, according to new research by Frost & Sullivan.

In 2008, the patient monitoring device market was $89.9m, the research said.

Wireless patient monitoring devices are seen as a means of reducing hospital costs in Europe and provide quick, real-time treatment to patients, according to the report.

But the report found the target population was unaware of the benefits of wireless-assisted devices and price sensitivity in the wireless patient monitoring market was adversely affecting its growth.

Reimbursement polices were also not well understood by the patients and information on public funding allocation is lacking, the report said.