Market growth occurs with the expansion of multi-parameter patient monitors connected to a central station beyond the intensive care unit to all floors of a hospital. Clinical care depends on monitoring. Vital signs monitors transmit data wirelessly directly to the electronic patient record, generating alerts if data is outside preset parameters. Patient monitors are expanding the use base in the hospital and expanding use in rehab centers, clinical settings, and home.
The patient monitoring platform is modular, integrating various components. Modular systems are developed in the context of consideration of probable specifications for the interaction of system components. Patient Monitoring systems are making market resurgence because smaller, lighter, wireless units are less costly and more valuable in the context of treatment evaluations and recommendations. People who have cardiac or respiratory difficulty have more treatment options, making more extensive patient monitoring useful.
Patient monitor markets at $11 billion in 2015 are anticipated to reach $26.2 billion by 2022.
Designs take into consideration users with mild, moderate, and severe chronic disease condition restrictions. Users come from chronic disease groups and older age groups. Symptoms are represented by shifts in vital sign monitoring that measures disease conditions impacted deterioration of patient well-being. The monitoring is frequently done in conjunction with blood work.
Vital signs monitoring is a way to get a window into patient condition that can provide alerts when a small change signals a possible shift in patient condition. Hospital cardiac patient monitoring technology is a vital aid in providing treatment for severely ill patients.
Alerts can be used to take action before a patient gets even more seriously ill. Hospital and outpatient cardiac patient monitoring can detect arrhythmias and get people to treatment faster before it is too late to correct heart failure. Early detection of a problem in the home is a way to avoid a hospital stay. Appropriate treatment of chronic conditions is difficult and is essential to helping people protect quality of life after recovery from a serious illness.
“Revitalization of patient monitor markets is occurring because units are smaller, less costly, and more useful across a variety of venues. Patient monitoring is moving toward the ability to help with wellness and to participate in the wearables markets.” As people shift resource toward medical treatment, patient monitoring equipment becomes a priority.
Lifestyle is supported by patient monitoring products that support earlier detection of disease conditions. Increasing market share has been achieved by providing value to the clinicians. The technical expertise of the sales force, the effectiveness of the distribution system, the strength of the dealers, and the availability of prompt and reliable service for products when addressed are able to help patient monitor vendors achieve competitive advantage.
Market Leaders are Philips, General Electric (GE), Drager, Nihon Kohden, Fukuda Denshi, Hill-Rom / Welch Allyn, Mindray Medical, OSI / Spacelabs, Viterion, Maquet, Penlon, Criticare Systems, Medtronic, Biotronic, Care Innovations, Sotera and Mortara Instrument