Freedonia Market Research Analyzes Patient Monitoring Systems

US demand for patient monitoring systems will increase 5.9 percent annually to $12 billion in 2012.  Advances in wireless and sensor technologies will bolster growth by leading to the introduction of new equipment and accessories with enhanced performance capabilities.  Patient monitoring procedures will increase throughout the primary health care sector based on contributions to improved therapeutic outcomes and efficiencies.  The market for self-monitoring activities will also expand as chronic care patients, especially persons with diabetes, heart disorders and asthma, are encouraged by medical groups to focus greater attention on preventive care. These and other trends, including market share and company profiles, are presented in Patient Monitoring Systems, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm. 

Demand for patient monitoring accessories will increase 7.1 percent annually to $6.6 billion in 2012.  Blood glucose testing strips will account for close to half of all sales based on upward trends in the prevalence of diabetes and enhanced efforts by the health care sector to reduce the number of undiagnosed cases.  The best opportunities will emerge in electrochemical blood glucose test strips. The expansion of ECG and other vital signs monitoring activities in hospitals and outpatient centers, coupled with the development of advanced generation products based on microchips, will boost sales of patient monitoring catheters, electrodes and sensors.

The market for patient monitoring equipment will increase 4.5 percent annually to $5.4 billion in 2012.  Based on contributions to health care quality, productivity and cost efficiency, wireless multi-parameter network monitors will remain the top-selling product group.  Remote monitors which transmit data via the Internet or telephone will see the fastest growth as they hold promising potential to save health care costs.

Demand for cardiac, respiratory and anesthesia monitors will expand at a below average pace due to competition from multi-parameter systems.  Among these products, heart rate and peak flow meters will post the best sales gains, driven by expanding use among home patients and consumers.  The availability of alternative diagnostic technologies will moderate growth opportunities for fetal monitors.  Improvements in prenatal care will reduce the level of birth-related complications and weaken the overall market for fetal and maternal monitors.  Blood glucose monitors and electronic thermometers will also generate relatively lackluster growth opportunities due to pricing pressures.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.