Philips, Medtronic Lead in Patient Monitors, but Watch Small Companies:
NEW YORK, NY -- (Marketwired) -- 04/12/13 -- Philips and Medtronic
are the leading companies in remote patient monitoring, according to
Kalorama Information. The healthcare market research firm says that
these companies are able to leverage existing sales to hospitals and
rapid product introductions to maintain market share. But
market-watchers shouldn't discount smaller companies, who still
represent a sizable portion of the market according to a
newly-published study of the market, Advanced Patient Monitoring
Advanced patient monitoring systems can transmit important medical
data from a patient's bedside or home, for use by medical
professionals or transmission to EMR records. It is increasingly
popular to reduce hospital stays and reduce staff needs, according to
Kalorama. There are a huge number of companies offering some form of
wireless and remote technologies. Competitors supplying new
technologies in patient monitoring to hospitals are typically large,
established healthcare companies, often working in conjunction with
information technology (IT) companies on an entire system. The report
found that four companies, Philips, Medtronic, Covidien and Roche,
have over 35% of the global market. But the rest of the market is
scattered, with small companies who may be private and may have one
or two key products.
"Large vendors dominate, but half of the revenue of this market are
small players with nominal global market share," said Bruce Carlson,
Publisher of Kalorama Information. "Small vendors will drive growth
in the market and offer cheaper or more effective products. This is
particularly true in the home care and telemedicine segment."
Each of the market leading companies have boosted their market share
by focusing on certain types of monitoring, according to the report.
Philips SureSigns monitors measure vital signs, EKG and respiratory
functions. Medtronic, with its Reveal DX and XT insertable monitors,
help cardiac patients. Covidien produces a variety of oximetry and
capnography systems, while Roche is a leader in glucose monitoring,
and its AccuCheck line has added products with remote capability.
But there are many options for hospitals seeking to keep track of
patients from areas of the hospital or at home. Upstarts such as
China's Mindray, with its Passport portable monitors; Japan-based
Omron's marketing blood pressure and EKG systems and Irvine, CA-based
Maismo with its Rainbow SET pulse oximetry systems have profited
along with the device giants in this market, according to the report.
With attractive, double-digit revenue growth, Kalorama expects more
competitors and more products.
Kalorama's market research study in this market, Advanced Patient
Monitoring Systems, contains both a global and US market estimate and
forecast for advanced remote patient monitoring systems. The report
covers key trends in the industry and profiles several key players in
the market. The report can be purchased at Kalorama Information at:
About Kalorama Information -- Kalorama Information, a division of
MarketResearch.com, supplies the latest in independent medical market
research in diagnostics, biotech, pharmaceuticals, medical devices
and healthcare; as well as a full range of custom research services.
We routinely assist the media with healthcare topics. Follow us on
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