Medical Devices:

Freedonia
Market Study  May 2006

US market to reach $9.1 billion in 2010

Demand for patient monitoring systems is forecast to increase 5.4 percent annually to $9.1 billion in 2010. Initially developed for inpatient intensive care units, patient monitoring systems now serve extensive applications in hospital, ambulatory and home health care. Due to the availability of advanced wireless systems, hospitals now routinely measure and analyze the vital signs of surgical, trauma and other critical care patients from admission through discharge.

Blood glucose test strips, optical sensors to pace gains for accessories

Demand for patient monitoring accessories will expand 7.0 percent annually to $5.6 billion in 2010. Blood glucose test strips and optical sensors will lead gains. The expanding incidence and diagnosis of diabetic conditions; the availability of new advanced monitors; increased efforts by medical groups to promote greater precautionary testing; and widespread health insurance coverage will create strong growth opportunities for blood glucose test strips. Sensitivity and selectivity advantages will lead to the expanding use of optical sensors in patient monitoring procedures. The market for patient monitoring equipment will increase 3.0 percent annually to $3.5 billion in 2010. The best growth opportunities will emerge in home blood pressure and blood glucose monitors, with home alert systems, wireless central monitoring stations and MRI monitors also posting above average demand gains.

Home health care market to provide greatest long-term growth opportunities

In spite of a relatively stable number of institutions, hospitals will remain the largest and most diversified market for patient monitoring systems through 2010 based on the extensive and critical care nature of inpatient procedures. However, the home health care segment will eventually evolve into the leading market due to expanded blood glucose monitoring activities among diabetics and a greater number of other chronic care patients treated at home. Demand for patient monitoring systems in most other markets will increase at a below average pace due to limited needs for high-end products, competition for patients from hospital ambulatory departments and general cost containment pressures.

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