Steady Growth Seen for North American Patient Monitoring Industry

Growth of the North American patient monitoring industry is being driven by sleep apnea, diabetes blood glucose monitoring, and information technology (IT) integration. These are the latest finding of Frost and Sullivan (Palo Alto, CA, USA), an international consulting firm.

A rise in the level of acuity amongst patients, coupled with a shortage of nurses, increases the demand for sophisticated patient monitoring solutions in North America. Market participants continue to work toward the integration of IT with their products to ensure a seamless transfer of information between devices and hospital information systems. In particular, the sleep apnea segment holds significant opportunity as one in every five adults in the United States suffers from some form of obstructive sleep apnea (OSA). Industry sources estimate that less than 10% of people suffering from this disease have been diagnosed or treated, thus creating a huge market opportunity for device manufacturers.

Similar opportunities exist in the diabetes glucose monitoring market, as the incidence of diabetes within the United States has increased by about 50% between the years 1998 and 2005. An estimated 54 million people suffered from prediabetes in 2005. Additionally, according to the U.S. national diabetes education program, diabetes could potentially grow at 10% percent a year if left untreated. This large population base creates a continuous demand for blood glucose self-monitoring devices. Furthermore, alternate site testing (thigh and forearm) has lowered the perception of pain, in turn bolstering the development of the market.

"Sleep apnea, hospital wireless, and diabetes blood glucose monitoring are the fastest-growing segments in the North American patient monitoring industry,” said Frost & Sullivan research consultant Sheetal Rajani. "Under-diagnosis of sleep apnea, overcrowded specialty areas, and an increasing prevalence of diabetes are the major factors driving growth in these segments.”

Frost and Sullivan have found that the North American patient monitoring industry earned revenues of US $7.03 billion in 2007 and is expected to demonstrate a continuous annual growth rate (CAGR) of 7.2% between 2007-2012. Additionally, the U.S. government has mandated electronic medical records (EMRs) by 2014. As a result, there is a growing need to integrate IT with patient monitoring systems to ensure a seamless transfer of information. In order to facilitate a smooth interface, patient-monitoring companies must ensure that their devices are compatible with the hospital's information system.

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