US Patient Monitoring Device Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
06/23/2010

The US Patient Monitoring Devices Market Is Expected To Grow By 5% Over The Next Seven Years

Online PR News – 23-June-2010 – – In 2009, the US patient monitoring devices market was valued at $1,964m, and forecast to grow at a Compound Annual Growth Rate (CAGR) of 5% during forecast period 2009-2016 to reach $2,715m in 2016. The market will be driven by advanced and cost effective technologies and high number of pipeline products. Increasing prevalence of chronic diseases and increasing pressure to reduce costs related to treating these diseases will also influence the market growth. Multi parameter patient monitoring devices was the biggest market category, valued at $996m in 2009. The categories expected to display high growth rate in the forecast period 2009-2016 are remote patient monitoring devices (7%) and micro-electromechanical systems (7%) followed by NIBP (5%) and patient monitoring leads and electrodes market (5%).

The increasing prevalence of cardiovascular diseases and diabetes especially in the elderly population is creating enormous growth opportunity for the NIBP, Multiparameter patient monitoring and remote monitoring devices categories. Currently there are more than 81 million patients suffering from cardiovascular diseases (CVDs) in the US. Out of these, nearly 90% of the patients suffer from high blood pressure. Diabetes prevalence is also very high in the US with nearly 24 million patients suffering from the disease. These diseases combined with a large elderly population will create a huge demand for remote patient monitoring devices, multi parameter monitors as well as non-invasive blood pressure monitors in the US.

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There are several promising products being developed in the patient monitoring devices market. The focus of manufacturers is especially on remote patient monitoring devices, multi-parameter patient monitors and non-invasive blood pressure monitors. These devices are likely to be more accurate, reliable and convenient for use by physicians and patients. BP Guardian is one of the promising products, which works as a wrist sensor. Another promising product is Caretaker-blood pressure monitor from Empirical Technological Corporation. The product is a wireless and non-invasive continuous beat-by-beat physiological monitoring system. The system works on pulse-decomposition-analysis technology. Another key product is the wearable blood pressure monitor from CARDIOSIGN, INC. which is a wrist-worn continuous blood pressure monitoring device. The high potential in this market is complemented by increasing prevalence of cardiovascular diseases in US.

Although the US patient monitoring device market has many participants, few companies dominate the market with leadership in the multiparameter patient monitoring devices, patient monitoring leads and electrodes and neonatal monitors categories. Philips Healthcare leads the market with approximately 19% market share, followed by GE Healthcare with a share of 15%. Medtronic, Inc., Draegerwerk AG & Co. KGaA and OMRON HEALTHCARE Co. have 4%, 3% and 3% market share, respectively. A majority of the market (nearly 56%) is occupied by small players.

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