Worldwide Patient Monitoring markets are poised to achieve significant growth as a resurgence in tracking vital signs extends from the intensive care unit ICU and emergency department to all areas of the hospital, to patient transport venues, and to home outpatient treatment locations.
Patient monitor markets at $11 billion in 2015 are anticipated to reach $26.2 billion by 2022. Strong growth is predicated on the increasing reliance on multi-parameter patient monitors in every bed of the hospital, in multiple areas of specialized clinics, and in many rehab centers.
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Market growth occurs with the expansion of multi-parameter patient monitors connected to a central station beyond the intensive care unit to all floors of a hospital. Clinical care depends on monitoring. Vital signs monitors transmit data wirelessly directly to the electronic patient record, generating alerts if data is outside preset parameters. Patient monitors are expanding the use base in the hospital and expanding use in rehab centers, clinical settings, and home.
The patient monitoring platform is modular, integrating various components. Modular systems are developed in the context of consideration of probable specifications for the interaction of system components. Patient Monitoring systems are making a market resurgence because smaller, lighter, wireless units are less costly and more valuable in the context of treatment evaluations and recommendations. People who have cardiac or respiratory difficulty have more treatment options, making more extensive patient monitoring useful.
Designs take into consideration users with mild, moderate, and severe chronic disease condition restrictions. Users come from chronic disease groups and older age groups.
The core of a patient monitoring platform is an integration of separate vital signs detection sensors that form a system that supports adapting to numerous clinical requirements. Modules implement ways to determine patient condition. Market driving forces for multi-parameter and specialized vital signs patient monitors relate to more societal willingness to pay for vigilance, an increase in vigilance of sick people at risk. Cardiac and respiratory symptoms are measured as vital sign shifts by patient monitors.
Symptoms are represented by shifts in vital sign monitoring that measures disease conditions impacted deterioration of patient well-being. The monitoring is frequently done in conjunction with blood work.
There is a lot of complexity in determining the meaning of the patient monitor vital signs measurements. Shortness of breath is a common symptom of cardiac disease. It is frequently misdiagnosed as a respiratory symptom or ignored by patients and is not even considered a symptom.
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Vital signs monitoring is a way to get a window into patient condition that can provide alerts when a small change signals a possible shift in patient condition. Hospital cardiac patient monitoring technology is a vital aid in providing treatment for severely ill patients.
Alerts can be used to take action before a patient gets even more seriously ill. Hospital and outpatient cardiac patient monitoring can detect arrhythmias and get people to treatment faster before it is too late to correct heart failure. Early detection of a problem in the home is a way to avoid a hospital stay. Appropriate treatment of chronic conditions is difficult and is essential to helping people protect quality of life after recovery from a serious illness.
“Revitalization of patient monitor markets is occurring because units are smaller, less costly, and more useful across a variety of venues. Patient monitoring is moving toward the ability to help with wellness and to participate in the wearables markets.” As people shift resource toward medical treatment, patient monitoring equipment becomes a priority.
Lifestyle is supported by patient monitoring products that support earlier detection of disease conditions. Increasing market share has been achieved by providing value to the clinicians. The technical expertise of the sales force, the effectiveness of the distribution system, the strength of the dealers, and the availability of prompt and reliable service for products when addressed are able to help patient monitor vendors achieve competitive advantage.
Market Leaders: Philips, General Electric (GE), Drager, Nihon Kohden, Fukuda Denshi, Hill-Rom / Welch Allyn, Mindray Medical, OSI / Spacelabs, Viterion, Maquet, Penlon, Criticare Systems, Medtronic, Biotronic, Care Innovations, Sotera, Mortara Instrument
Market Participants: Abbott Labs, Alten Calsoft Labs, AMD Global Telemedicine, American Telecare, Boston Scientific, BPL Group / Penlon, Cardiocom, CardioNet, Care Innovations, Criticare Technologies, eCaring, Getinge Group / Maquet, Guangdong Biolight Meditech Co., , Ltd., HealthSense, Honeywell, Infinium, LifeWatch, Medtronic, NSD / Viterion, Opto Circuits, BPL Group / Penlon, Qualcomm Incorporated, Roche, Schiller, Sotera Wireless, Smiths Medical, St. Jude Medical, Vitaphone
List of Tables and Figures
Table ES-1 Cardiac Patient Monitoring Market Driving Forces 34
Table ES-2 Cardiac Patient Monitoring Market Factors 36
Figure ES-3 Patient Monitors Market Shares, Dollars, 2015 38
Figure ES-4 Patient Monitoring Forecasts, Dollars, Worldwide, 2016-2022 40
Table 1-1 Transforming Healthcare Market Landscape 42
Table 1-2 Transforming Healthcare Market Functions 43
Table 1-3 Transforming Healthcare Continuum 44
Figure 1-4 Transforming Healthcare Market Landscape 45
Figure 1-5 Typical Patient Parameters Monitored 52
Table 2-1 Cardiac Patient Monitoring Market Driving Forces 56
Table 2-2 Cardiac Patient Monitoring Market Factors 58
Table 2-3 Patient Monitoring Technology Challenges: Wearables 62
Table 2-4 Patient Monitoring Technology Challenges: Systems Integration 63
Table 2-5 Patient Monitoring Technology Challenges: Wireless Communications 64
Table 2-6 Patient Monitoring Technology Challenges: Analytics 65
Table 2-7 Patient Monitoring Technology Challenges: Quality 67
Figure 2-8 Patient Monitors Market Shares, Dollars, 2015 70
Table 2-9 Patient Monitoring Market Shares, Units and Dollars, Worldwide, 2015 71
Table 2-10 Philips Patient Monitoring Portfolio Targets 72
Figure 2-11 Philips IntelliVue MX40 73
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