Philips, Medtronic Lead in Patient Monitors

Royal Philips Electronics (Philips; Amsterdam, The Netherlands) and Medtronic (Minneapolis, MN, USA) are the leading companies in remote patient monitoring. These are the latest findings of Kalorama Information (New York, NY, USA), an independent medical market research firm.

Both of the market-leading companies have boosted their market share by focusing on certain types of monitoring, according to the Kalorama report. Philips SureSigns monitors measure vital signs, electrocardiogram (ECG), and respiratory functions, while the Medtronic Reveal DX and XT series of insertable monitors are aimed at cardiac patients. But while these companies are able to leverage existing sales to hospitals and rapid product introductions to maintain market share, there are many smaller companies who still represent a sizable portion of the market.

The most prominent of these are Covidien (Dublin, Ireland), who produces a variety of oximetry and capnography systems, and Hoffmann-La Roche (Roche; Basel, Switzerland), whose AccuCheck line of glucose monitors now includes products with remote capability. In all, Kalorama Information found that these four companies together have over 35% of the global market. Double-digit revenue growth leads Kalorama to expect more competitors and more products.

Other companies with a presence in the field include Chinese company Mindray, with its Passport portable monitors; Japan-based Omron’s marketing blood pressure and ECG systems; and Masimo (Irvine, CA, USA) with its Rainbow SET pulse oximetry systems. There are also very large numbers of companies offering some form of wireless and remote technologies for patient monitoring, most of them large, established healthcare companies that work in conjunction with information technology (IT) companies on an entire system.

“Large vendors dominate, but half of the revenue of this market are small players with nominal global market share,” said Bruce Carlson, Publisher of Kalorama Information. “Small vendors will drive growth in the market and offer cheaper or more effective products. This is particularly true in the home care and telemedicine segment.”

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Royal Philips Electronics
Medtronic
Kalorama Information