Hospital Wireless Patient Monitoring Devices - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2017

GlobalData
December 31, 2011
80 Pages - SKU: GBDT6744369
Countries covered: Global

Hospital Wireless Patient Monitoring Devices - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2017

Summary

GlobalData’s new report, “Hospital Wireless Patient Monitoring Devices - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global hospital wireless patient monitoring devices market. The report provides market landscape, competitive landscape and market trends information on the hospital wireless patient monitoring devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market’s dynamics. The report also reviews the competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

Scope
  • Key geographies covered include the US, Europe and Japan.
  • Key segments covered include Wireless Bedside Monitors, Wireless Patient Worn Transmitters, Wireless Patient Worn Monitors and Central Station Monitoring.
  • Annualized market revenues data from 2003 to 2010, forecast forward for seven years to 2017. Company shares for 2010.
  • Qualitative analysis of key market trends, market drivers, and restraints within the hospital wireless patient monitoring devices market.
  • The report also covers information on the leading market players, the competitive landscape, and the leading pipeline products and technologies.
  • Key players covered include GE Healthcare, Philips Healthcare, Nihon Kohden, Drager Medical, Welch Allyn, SpaceLabs and Mindray.
Reasons to buy
  • Develop business strategies by understanding the trends and developments that are driving the hospital wireless patient monitoring devices globally.
  • Design and develop your product development, marketing and sales strategies.
  • Develop market-entry and market expansion strategies.
  • Identify key players best positioned to take advantage of the emerging market opportunities.
  • Exploit in-licensing and out-licensing opportunities by identifying products that are most likely to ensure a robust return.
  • What’s the next big thing in the hospital wireless patient monitoring devices market landscape? - Identify, understand and capitalize.
  • Make more informed business decisions from the insightful and in-depth analysis of the global hospital wireless patient monitoring devices market and the factors shaping it.


Additional Information

GlobalData’s new report, “Hospital Wireless Patient Monitoring Devices - Global Opportunity Assessment, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global hospital wireless patient monitoring devices market. The report provides market landscape, competitive landscape and market trends information on the hospital wireless patient monitoring devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market’s dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

Hospital Wireless Patient Monitoring Market to Grow at Nearly 9% CAGR to Reach $423.4m by 2017

Hospital Wireless Patient Monitoring Market, Global, Revenue ($m), Forecast, 2010-2017

Source: GlobalData, Annual Reports, SEC Filings, Investor Presentations, Earning Call Transcripts, News and Press Releases, Scientific Journals, Trade Associations, Interviews with Industry Experts and Key Opinion Leaders (KOLs)

The global hospital wireless patient monitoring market is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.8% from 2010 to 2017 to reach $423.4m in 2017. The market growth will be sustained by a need for flexible monitoring, newer applications and reducing reimbursement for adverse events which occur due to hospital negligence or hospital-acquired infections.

Wireless Patient Monitors was the Largest Market Category in 2010

Hospital Wireless Patient Monitoring Market, Revenue Contribution by Segment (%), 2010

Source: GlobalData, Annual Reports, SEC Filings, Investor Presentations, Earning Call Transcripts, News and Press Releases, Scientific Journals, Trade Associations, Interviews with Industry Experts and Key Opinion Leaders (KOLs)

The hospital wireless patient monitoring market is comprised of two categories: wireless patient monitoring and central station monitoring. The wireless patient monitors market was the largest market category in 2010, accounting for 65% of the total market revenues for hospital wireless patient monitoring market. The global wireless patient monitors market is expected to grow at 10.5% over the next seven years. The central station monitoring market is expected to continue to grow at 5.2% in the same period. The wireless patient monitors market is comprised of three segments: wireless bedside monitors, wireless patient-worn monitors and wireless patient-worn transmitters. Wireless bedside monitors will remain the largest and the fastest growing segment, followed by the wireless patient-worn monitors segment, which is going to grow at 10.4%, while the wireless patient-worn transmitters segment will grow at a low 1.5% in 2010-2017.

GE Healthcare, Philips Healthcare and Drager Medical Dominate Hospital Wireless Patient Monitoring Market

Hospital Wireless Patient Monitoring Market, Global, Company Share (%), 2010

Source: GlobalData, Annual Reports, SEC Filings, Investor Presentations, Earning Call Transcripts, News and Press Releases, Scientific Journals, Trade Associations, Interviews with Industry Experts and Key Opinion Leaders (KOLs)

GE Healthcare, Philips Healthcare and Drager were the top three leading market players in the global hospital wireless patient monitoring market in 2010, accounting for 56% of the total market. GE Healthcare was the market leader with 24% of the market due to its broad range of offerings, particularly in the wireless bedside monitors segment. The company has also forged early partnerships with companies such as MobileAccess to enable hospitals to move towards a wireless enterprise network. Philips Healthcare also has a strong presence in the market with 18% of the market share. Similar to GE Healthcare, Philips also offers a wide variety of wireless bedside monitors, along with options to expand the monitoring capabilities of its telemetry devices. Drager Medical has a particularly strong presence in the European market and the fast growing wireless patient-worn monitors market with its product Infinity M300. The company has a market share of 14% in the global market. Nihon Kohden, Welch Allyn, Spacelabs and Mindray are the other significant players in the market.

New Applications of Wireless Patient Monitoring Devices for Patients to Drive Demand in the Future

Hospitals have started adopting wireless patient monitoring devices as a way to decongest Intensive Care Units (ICUs) since they offer the option of flexible monitoring. The patients can now be continuously monitored in general wards or medical/surgical beds using wireless patient monitoring devices. In the past, patients were continuously monitored only in the ICU, while regular checks were conducted for patients in medical/surgical units every four hours. Moreover, patients are being admitted in a higher acuity compared to a decade ago. Both these factors have put tremendous pressure on existing ICUs, since growth in the number of ICUs has not kept pace with the growing demand for acute medical treatment. Thus, hospitals are looking for ways to reduce the pressure on their ICUs by finding methods enabling faster turnaround times for patients.

The acuity of patients in the patients admitted to medical/surgical wards has increased over the past decade and now requires closer monitoring than ever before. Wireless devices are being used to facilitate closer monitoring by enabling flexible monitoring options at a patient’s bedside. Instead of conducting routine spot checks every two to four hours, continuous monitoring is useful for detecting deterioration in a patient’s condition by detecting anomalies in the physiological data of the patient.

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