Hospital Patient Multi-Parameter Monitors Industry to 2019 – Market Outlook, Industry Growth: PTA Newsroom.
The hospital cardiac patient monitoring industry is evolving rapidly and is becoming increasingly competitive as more parameters are monitored and integration with the electronic patient record occurs. This is the basis on which vendor share shifts, with Philips gaining share in recent years. Companies with substantial resources are poised to enter the market, probably through acquisition. Vendors are poised to face increased competition even as market consolidation occurs.
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Shortness of breath is a common symptom of cardiac disease. It is frequently misdiagnosed as a respiratory symptom or ignored by patients and is not even considered a symptom. Hospital cardiac patient monitoring can detect arrhythmias and get people to treatment faster before it is too late to correct heart failure.
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Early detection of a problem in the hospital and consequent treatment is essential. Hospital cardiac patient monitoring technology is a vital aid in providing that treatment. Hospitals and clinicians have increased access to devices in every department of the hospital and during transport as insurers realize the value of detecting and treating cardiac symptoms as they occur, rather than waiting until the patient condition has deteriorated.
Cardiac patient monitoring is evolving as systems become smaller and offer more functionality. Cardiac patient monitoring market driving forces still relate to reimbursement by CMS and private insurance carriers in the US and by nationalized systems in other places. The principal competitive factors that impact the success of cardiac monitoring solutions include the parameters discussed in the market research study:
When chronic disease conditions are treated early on when there is an early change in patient condition an early intervention can make a difference. It is even better to treat patients in a wellness treatment environment before there are indications of chronic disease, before symptoms develop, by addressing lifestyle issues early on.
Global hospital cardiac patient monitoring devices market at $3.8 billion in 2012 is forecast to reach at $5.3 billion by 2019 at a growth rate of 5.5% during the analysis period. Growth continues as market penetration into all areas of the hospital expands. The installed base continues to grow as replacement of units is stretched to 12 years and beyond.
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