CLEVELAND, OHIO /MARKET WIRE/ -- U.S. demand for patient monitoring systems will increase 5.4% annually to $9.1 billion in 2010. Advances in wireless and sensor technologies will bolster growth by expanding the range of effective products. Patient monitoring procedures will increase throughout the primary health care sector based on contributions to improved therapeutic outcomes and efficiencies. The market for self-monitoring activities will also expand as chronic care patients, especially persons with diabetes and heart disorders, are encouraged by medical groups to focus greater attention on preventive care.
Demand for patient monitoring accessories will increase 7% annually through 2010. Diabetic monitoring supplies, electrodes and sensors, and catheters will lead growth. The expansion of diabetes education programs will encourage diabetic patients to follow established guidelines for self-testing and periodic professional examinations. The best opportunities will emerge in electrochemical blood glucose test strips, which require less blood and yield faster and more accurate results. The expansion of ECG and other vital-signs monitoring activities in hospitals and outpatient centers, coupled with the development of advanced generation products based on microchips, will boost sales of patient monitoring electrodes and sensors.
The market for patient monitoring equipment will increase 3% annually through 2010. Due to contributions to the quality, productivity, and cost efficiency of health care, wireless multiparameter monitors and stations will post the strongest sales gains among established products. Among more recent product introductions, remote monitors will see the fastest growth in demand as they hold promising potential to save health care costs by reducing the need for hospitalizations and outpatient episodes. Blood pressure and pulse monitors will provide mixed growth prospects. Devices for home use will post above average gains in demand as consumers assume more personal responsibility for their own health care. Conversely, cost containment pressures and relatively saturated markets will keep sales of professional blood pressure and pulse monitors flat.
These and other trends including market share are presented in "Patient Monitoring Systems," a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.