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
Latest Business News
- BD Acquires Edwards Lifesciences' Critical Care Product Group for USD 4.2 Billion
- MEDICA INNOVATION FORUM for the Healthcare Innovations of the Future
- Johnson & Johnson Acquires Cardiovascular Medical Device Company Shockwave Medical
- Mindray to Acquire Chinese Medical Device Company APT Medical
- Olympus Acquires Korean GI Stent Maker Taewoong Medical
- Karl Storz Acquires British AI Specialist Innersight Labs
- Stryker to Acquire French Joint Replacement Company SERF SAS
- Medical Illumination Acquires Surgical Lighting Specialist Isolux
- 5G Remote-Controlled Robots to Enable Even Cross-Border Surgeries
- International Hospital Federation Announces 2023 IHF Award Winners
- Unprecedented AI Integration Transforming Surgery Landscape, Say Experts
- New WHO Guidelines to Revolutionize AI in Healthcare
- Getinge Acquires US-Based Medical Equipment Provider Healthmark Industries
- Global Surgical Lights Market Driven by Increasing Number of Procedures
- Global Capsule Endoscopy Market Driven by Demand for Accurate Diagnosis of Gastrointestinal Conditions
- Global OR Integration Market Driven by Need for Improved Workflow Efficiency and Productivity
Channels
Critical Care
view channel
Smart Bandages to Revolutionize Treatment of Chronic Wounds
Chronic wounds, such as diabetic ulcers, surgical wounds, pressure injuries, and others, are more lethal than many realize. Patients with chronic wounds face a five-year survival rate of about 70%, which... Read more
Portable System for Warming Blood and IV-Fluids Reduces Hypothermia Risk in Hemorrhaging Patients
Maintaining a normothermic temperature in patients is often challenging. Accidental hypothermia is a known risk that can lead to increased complications and extended hospital stays. One key factor contributing... Read more
AI-Generated Real-Time Alerts for Declining Health Speeds Up Treatment and Reduces Hospital Deaths
A fundamental objective of inpatient care is the timely intervention to prevent or manage clinical deterioration, which often leads to escalated care associated with poorer outcomes and increased use of resources.... Read more
Ingestible Microbiome Sampling Pill to Help Diagnose Wide Range of Health Conditions
The healthy human gut is home to more than 1,000 species of bacteria, most of which play a beneficial role in digestion and protecting against disease. When the natural balance of these microbes is disrupted,... Read moreSurgical Techniques
view channel
Electronic Grid Records Brain Activity during Surgery to Minimize Damage to Healthy Tissue
A new electronic grid equipped with nanoscale sensors that records electrical signals from the human brain with unprecedented detail could enhance surgical planning and execution for removing brain tumors... Read more
Total Robotic Metabolic and Bariatric Surgery Proves More Beneficial than Conventional Laparoscopy
According to the U.S. Centers for Disease Control and Prevention (CDC), 42.4% of Americans are affected by obesity. Research indicates that obesity can compromise the immune system, trigger chronic inflammation,... Read more
Wirelessly Activated Robotic Device Aids Digestion in Patients with Compromised Organs
The transport of fluids and solids is essential in the human body, driven by a wave-like movement in the lumen known as peristalsis. However, peristalsis can be disrupted in patients who have obstructions... Read more
Patient Care
view channel
First-Of-Its-Kind Portable Germicidal Light Technology Disinfects High-Touch Clinical Surfaces in Seconds
Reducing healthcare-acquired infections (HAIs) remains a pressing issue within global healthcare systems. In the United States alone, 1.7 million patients contract HAIs annually, leading to approximately... Read more
Surgical Capacity Optimization Solution Helps Hospitals Boost OR Utilization
An innovative solution has the capability to transform surgical capacity utilization by targeting the root cause of surgical block time inefficiencies. Fujitsu Limited’s (Tokyo, Japan) Surgical Capacity... Read more
Game-Changing Innovation in Surgical Instrument Sterilization Significantly Improves OR Throughput
A groundbreaking innovation enables hospitals to significantly improve instrument processing time and throughput in operating rooms (ORs) and sterile processing departments. Turbett Surgical, Inc.... Read more
Health IT
view channel
Machine Learning Model Improves Mortality Risk Prediction for Cardiac Surgery Patients
Machine learning algorithms have been deployed to create predictive models in various medical fields, with some demonstrating improved outcomes compared to their standard-of-care counterparts.... Read more
Strategic Collaboration to Develop and Integrate Generative AI into Healthcare
Top industry experts have underscored the immediate requirement for healthcare systems and hospitals to respond to severe cost and margin pressures. Close to half of U.S. hospitals ended 2022 in the red... Read more
AI-Enabled Operating Rooms Solution Helps Hospitals Maximize Utilization and Unlock Capacity
For healthcare organizations, optimizing operating room (OR) utilization during prime time hours is a complex challenge. Surgeons and clinics face difficulties in finding available slots for booking cases,... Read more
AI Predicts Pancreatic Cancer Three Years before Diagnosis from Patients’ Medical Records
Screening for common cancers like breast, cervix, and prostate cancer relies on relatively simple and highly effective techniques, such as mammograms, Pap smears, and blood tests. These methods have revolutionized... Read morePoint of Care
view channel
POCT for Infectious Diseases Delivers Laboratory Equivalent Pathology Results
On-site pathology tests for infectious diseases in rural and remote locations can achieve the same level of reliability and accuracy as those conducted in hospital laboratories, a recent study suggests.... Read more
Cartridge-Based Hemostasis Analyzer System Enables Faster Coagulation Testing
Quickly assessing a patient's total hemostasis status can be critical to influencing clinical outcomes and using blood products. Haemonetics Corporation (Boston, MA, USA) has now obtained 510(k) clearance... Read more
