Patient Monitoring Devices

Report Highlights

• The U.S. market will rise to $4.3 billion by 2008, at an average annual growth rate (AAGR) of 8.1%.
• The home care market has the highest growth rate of any market segment.
• Averaging 11.7%/year, the handheld monitor market will reach $1.6 billion in 2008.
• The phone or wireless telemetry monitor market will reach $405 million in 2008.

INTRODUCTION

Patient monitoring products measure, display and document physiological information obtained at regular intervals over time from sensors attached to the patient or other input devices. The U.S. and international patient monitoring markets have grown rapidly in recent years, due to factors such as an aging population, increased incidence of heart disease and other conditions requiring close patient monitoring, along with technological developments such as wireless remote monitoring.

While there is general agreement that the patient monitoring market is expanding, opinions on the actual size of the market vary widely, from $2.5 billion to more than $10 billion worldwide in 2002 (implying a U.S. market of between $1 billion and $4 billion. There also is the likelihood that some market segments will grow more slowly in the future, even as profit margins come under increasing pressure. All of these factors combine to increase the imperative for manufacturers, as well as distributors, to identify market segments with the highest growth potential, and understand competitive conditions as a guide to allocating scarce financial and human resources.

This timely BCC report analyzes U.S. and global markets for these products in light of the most recent available information. In addition to looking at current and future markets for patient monitoring devices, the study analyzes technological, economic and regulatory developments that are likely to have a long-term impact on the size and structure of the market.

This report provides an analysis of the market for patient monitoring devices and related equipment by application (e.g., intensive care, neonatal/pediatric care), product type (central monitoring stations, portable bedside monitors, wireless/telemetry monitors) and target markets, such as hospitals, long-term care facilities and individual consumers. Future market trends are analyzed, with consumption forecasts for specific market segments.

SCOPE OF STUDY

This report covers the following topics:

• Major product types and applications, both commercial and developmental
• U.S. market size and segmentation, including historical data
• Market drivers and constraints
• Detailed U.S. market projections through 2008
• Factors that may influence the long-term market for patient monitoring devices, and
• Industry structure, competition and market shares.

METHODOLOGY AND INFORMATION SOURCES

The findings and conclusions of this report are based on information gathered from manufacturers and distributors of patient monitoring devices, hospitals, and other end users. Interview data were combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature, and on-line databases, to produce the baseline market estimates contained in this report.

The base year for analysis and projection is 2002. At the time this report was prepared, year-end data for 2002 were not yet universally available. Where necessary, market estimates for 2002 were developed using interim (partial) data for 2002 combined with historical data for the years 1999 and 2001.

With 2002 as a baseline, market projections were developed for 2003 through 2008. These projections are based on a combination of a consensus among the primary contacts combined with our understanding of the key market drivers and their impact from a historical and analytical perspective. The analytical methodologies used to generate the market estimates are described in detail in the section on Detailed Market Projections.

All dollar projections presented in this report are in 2002 constant dollars.

ANALYST CREDENTIALS

The author of this report, Andrew McWilliams, is a partner in the Boston-based international technology and marketing consulting firm of 43rd Parallel LLC. He also is the author of several other BCC Research studies covering the health care and related industries, including: B-121N Plant-Derived Drugs: Products, Technologies and Applications; GA-109R Functional/ Nutraceutical/Wellness Foods and Beverages; C-140N Trends in the Noninvasive and Minimally Invasive Medical Device Market and B-182 Medical Robotics and Computer Assisted Surgery Market.