Tuesday, March 19, 2013

17% Growth In Patient Monitoring Systems 2011-12

There’s every reason to be sanguine about advanced patient monitoring systems.   Some healthcare markets see great gains and then decline, or fail to meet expectations.  With advanced patient monitors that can help patients out of the hospital faster, it should not be surprising that revenue growth goes on.  Revenue follows demand.  The predictions for fast growth of 2011 have been proven true in 2012 sales, according to our research.  Growth was 17% globally.  

Patient monitoring systems with advanced features, especially wireless or remote capability, are among the fastest-growing medical devices.  The aging population and the associated increases in diseases such as congestive heart disease and diabetes, is driving sales of these devices.   Use of new patient monitoring technologies can result in a need for fewer personnel, increased coverage by existing personnel, and a reduction in errors. 

Kalorama has released its annual look at the remote and wireless patient monitoring technologies market, Advanced Remote Patient Monitoring Systems.  

This year we tried something different: we segmented the market between two types of information that customers request from us.  We have a segment on hospital patient monitoring, which is still remote (PM between the rooms or floors or even buildings of a hospital.) and telemedicine where the patient monitoring occurs between patient and provider. 

Given that growth it should be no surprise that there is intense competition in the market.   Some of the companies are known: Abbot, St. Jude, Getinge.  And there are some interesting competitors who are on the march – China’s Mindray for instance.  AMD and Second Opinion Healthcare   We cover 43 such companies in our report but there are scores of other competitors.

Patient monitoring will be successful because it HAS to be successful.  Everyone from the Federal government to the major healthcare chains to the insurance companie
It may be asked, Did we discover any surprises in our research?

Many trends are detailed in the report.  But here's something interesting: The Expectation Game is more important than you might think in this market.  Patients expect these systems and are disappointed when a hospital doesn’t offer it.  Certainly we aren’t talking about toys or other products where there’s a ‘Mommy get me this’ factor in marketing, but a more subtle form occurs – as companies and the media play up PM and telemedicine to the public, patients expect it.  

NEW: Advanced Patient Monitoring Systems

This Kalorama Information report, Advanced Remote Patient Monitoring Systems, is a comprehensive study on the patient monitoring industry, including the advanced system with remote and wireless capability to includes patient monitoring equipment and devices which have advanced features. The report specifically focuses on technologically advanced (including wireless and remote) patient monitors; monitors with patient data processing applications; and monitors which are capable of data transfer to an EMR system-including equipment and peripherals which coordinate the flow of data to hospital electronic medical record systems.