VANCOUVER, Oct. 19 /PRNewswire/ - According to a new report by iData Research (www.idataresearch.net), the leading global authority in medical device and pharmaceutical market research, the U.S. patient monitoring market is expected to reach almost $4 billion by 2017. Multi-parameter vital-sign devices represented the majority of the patient monitoring market in 2010, with the home telehealth segment growing over 17% in 2010 and the hospital wireless telemetry monitoring segment growing at high double-digit rates. The second largest segment of this market was pulse oximetry, which is expected to exceed $934 million by 2017.
"There has been a growing trend among U.S. hospitals to decrease acute and long-term care expenses. Patient turnover in hospitals is increasing, resulting in large growth of the home telehealth monitoring device market," Says Dr. Kamran Zamanian, CEO of iData. "In addition, new wireless telemetry monitoring devices have allowed hospitals to downgrade patients from critical and acute care settings sooner, in a constant effort to reduce per patient costs."
iData's report states that growth in the multi-parameter vital sign monitoring market is expected to be driven by significant increases in telemetry and low-acuity monitoring device sales, as healthcare workers in hospital sub-acute, alternate and homecare settings strive to improve patient safety by reducing the number of unmonitored patients.
The report also states that Bosch Healthcare, Philips Healthcare, Cardiocom and Honeywell lead the home telehealth markets. In addition, the recent joint venture between GE and Intel is expected to increase the presence of both companies in the home telehealth market.
iData's Global 3-report series on the "Markets for Patient Monitoring Devices 2011" includes the latest data, market analyses and competitor profiles for: multi-parameter vital-sign, intra-cranial pressure, electroencephalogram, sleep apnea, cerebral oximeter, fetal and neonatal, pulse oximeter and blood pressure monitors, electromyogram, cardiac output devices and respective consumables.
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About iData Research
iData Research (www.idataresearch.net/idata/discoveridata.php) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: patient monitoring, diabetes drugs and devices, orthopedics, cardiovascular, dental, endoscopy and more.