Growth Expected for Global Patient Monitoring Market
|
By HospiMedica International staff writers Posted on 19 Oct 2014 |
|
The global advanced patient monitoring market has benefited from demand at health facilities and in the home treatment markets. These are the latest findings of Kalorama Information (New York, NY, USA), an independent medical market research firm.
The global advanced patient monitoring market includes equipment and devices with wireless and remote technologies, patient data processing applications and features, and applications that transfer patient monitoring results to electronic medical records (EMRs). The market also includes wireless and remote technologies that monitor and transmit data either within an institution via wireless or intranet or at a remote location using wireless transmissions. The market also includes all technologies that monitor a patient and forward the data to another party or application.
While major players, including Philips, Roche (Basel, Switzerland), Medtronic, and St. Jude, are involved in advanced remote patient monitoring, the market is extremely fragmented worldwide with suppliers offering products to a variety of end users, making this one of the largest segments in the health industry. Remaining competitive in this widespread market is a struggle, with changing health professional demands and attitudes, consumer requirements, new product introductions, insurance issues, and regulatory changes.
But replacement of older technology equipment with new wireless or remote units, connectivity advancements, and a demand for reduced hospital stays are all contributing to the sales of these systems. As a result, the global advanced patient monitoring market has seen 7% growth since 2013, and is currently worth about USD 29.7 billion. The United States and many European countries at the forefront of implementation of patient monitoring technology, due to an expected shortage of over 250,000 nurses in 2025 in the United States alone.
“Kalorama expects continued growth in patient monitors, especially with the expected shortage of nursing staff. Staff reductions increase the need for technology that can help limited staff do more,” said Bruce Carlson, publisher of Kalorama Information. “Not only is there a shortage of nurses but the age of the population is doubling the problem. A higher percentage of nurses are over age 50, compared to 10 years ago.”
Related Links:
Kalorama Information
The global advanced patient monitoring market includes equipment and devices with wireless and remote technologies, patient data processing applications and features, and applications that transfer patient monitoring results to electronic medical records (EMRs). The market also includes wireless and remote technologies that monitor and transmit data either within an institution via wireless or intranet or at a remote location using wireless transmissions. The market also includes all technologies that monitor a patient and forward the data to another party or application.
While major players, including Philips, Roche (Basel, Switzerland), Medtronic, and St. Jude, are involved in advanced remote patient monitoring, the market is extremely fragmented worldwide with suppliers offering products to a variety of end users, making this one of the largest segments in the health industry. Remaining competitive in this widespread market is a struggle, with changing health professional demands and attitudes, consumer requirements, new product introductions, insurance issues, and regulatory changes.
But replacement of older technology equipment with new wireless or remote units, connectivity advancements, and a demand for reduced hospital stays are all contributing to the sales of these systems. As a result, the global advanced patient monitoring market has seen 7% growth since 2013, and is currently worth about USD 29.7 billion. The United States and many European countries at the forefront of implementation of patient monitoring technology, due to an expected shortage of over 250,000 nurses in 2025 in the United States alone.
“Kalorama expects continued growth in patient monitors, especially with the expected shortage of nursing staff. Staff reductions increase the need for technology that can help limited staff do more,” said Bruce Carlson, publisher of Kalorama Information. “Not only is there a shortage of nurses but the age of the population is doubling the problem. A higher percentage of nurses are over age 50, compared to 10 years ago.”
Related Links:
Kalorama Information
Gold Member
STI Test
Vivalytic Sexually Transmitted Infection (STI) Array
Tourniquet System
heidi– mein Tourniquet
Medical Adhesive
MED 5570U
Latest Business News
- Smartphone-Integrated Epinephrine Auto-Injector Concept Wins Red Dot Design Award
- Partnership Advances AI Tool for Predicting Malignant Cerebral Edema
- First U.S. Commercial Cases Demonstrate New Approach to Transseptal Access
- Philips and Imricor Collaboration Advances MRI-Guided Cardiac Procedures
- FDA Approval Clears Path for BCI Integration with Personal Computing Devices
- Abbott LAA Occluder Gains CE Mark for AFib Stroke Risk Reduction
- Smart Hospital Market Set for Strong Growth as Digital Healthcare Adoption Accelerates
- FDA Seeks Feedback on Regulating Generative AI Medical Devices
- Teledyne to Acquire Varex Imaging in $1.1 Billion Deal
- MIMEDX to Add Sanara MedTech’s Regenerative Technologies Through $350 Million Deal
- AI Software Combines Nodule Detection and Diagnosis for Lung Cancer Screening
- AI Care Platform Adds Quantitative MRI Analysis for Multiple Sclerosis
- Danaher Completes Acquisition of Masimo to Expand Patient Monitoring Capabilities
- Endologix Adds FDA-Cleared Peripheral Thrombectomy System
- Artivion Adds FDA-Approved NEXUS System to Aortic Arch Portfolio
- Olympus Partnership Aims to Expand Access to Robot-Assisted Endoscopic Therapy
Channels
Artificial Intelligence
view channel
AI Framework Aims to Turn Medical Care from Reactive to Preventive
Health systems face rising burdens from aging populations, chronic disease, and workforce shortages. Medical artificial intelligence (AI) remains concentrated in diagnosis and decision support, leaving... Read more
AI Model Predicts Indwelling Catheter Use After Spinal Cord Injury
Patients with early-stage spinal cord injury and neurogenic bladder often face uncertain trajectories in urinary catheter management. Clinicians need tools to anticipate conversion to indwelling catheters... Read more
Critical Care
view channel
Patch-Based Therapy Promotes Myelin Repair in Multiple Sclerosis
Multiple sclerosis (MS) is a chronic autoimmune disease that damages the myelin sheath in the central nervous system, leading to progressive disability. After inflammatory attacks, remyelination is often... Read more
Remote Cardiac Device Monitoring System Shows Safety and Cost Benefits
Regular in-clinic follow-up for patients with cardiac implantable electronic devices, including pacemakers and implantable cardioverter defibrillators, is resource intensive. As device use rises with aging... Read more
Surgical Techniques
view channel
Nanobone Material Activates Natural Repair Signals to Regrow Bone
Cleft lip and palate is a birth defect that affects about 1 in 700 children and occurs when parts of the upper lip or roof of the mouth do not fully fuse during pregnancy. Repairing the resulting jawbone... Read more
First Robotic Dual Liver-Kidney Transplant Expands Minimally Invasive Transplant Surgery
Patients with end-stage liver disease often develop renal failure, creating the need for simultaneous liver-kidney transplantation. Traditional open dual-organ transplantation requires large incisions... Read more
Patient Care
view channel
Weighted Blankets Reduce Anxiety in Hospitalized Adults
Anxiety is common among hospitalized adults and can impair recovery, disrupt sleep, and worsen mental health. Although clinicians often use nonpharmacologic strategies, bedside options that act quickly... Read more
Multicenter Study Quantifies Delays in Care for Emergency Department Boarders
Emergency department (ED) boarding—the practice of keeping admitted patients in the ED while awaiting an inpatient bed—creates hazardous delays in definitive care. Prolonged transitions expose older and... Read more
Medical Imaging
view channel
Targeted PET/MRI Improves Detection and Preoperative Mapping of Endometriosis
Endometriosis is a chronic inflammatory condition in which endometrial-like tissue grows outside the uterus, causing pelvic pain, infertility, and reduced quality of life. Conventional imaging can underestimate... Read more
AI-Guided Ultrasound Enables Nonexpert Screening for Aortic Stenosis
Aortic stenosis is a narrowing of the aortic valve that can progress silently until advanced disease. Comprehensive echocardiography is the diagnostic standard, but it requires specialized equipment and... Read more
Health IT
view channel
Nurse-Coordinated Care Model Improves Heart Failure Outcomes
Heart failure imposes heavy mortality, morbidity, and cost burdens worldwide, yet proven therapies remain underused in routine practice. This inadequate uptake contributes to preventable hospitalizations... Read more
Imaging Tool Quantifies Calcinosis Cutis Volume to Monitor Treatment
Calcinosis cutis involves calcium deposits in the skin or soft tissues that can develop anywhere in the body, causing pain, impaired mobility, and disability. Lesions along the spine or buttocks can make... Read more
Point of Care
view channel
Microneedle Patch Enables At-Home Monitoring of Acute Kidney Injury
Kidney disease is often silent in its early stages, making timely detection difficult outside clinical settings. Early biomarkers such as neutrophil gelatinase–associated lipocalin can require blood draws... Read more
