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U.S. Pulse Oximetry and Capnography and Anesthesia Agent Monitoring Equipment MarketsPublished by: Frost & Sullivan Published: May. 22, 2003 Table of Contents 1 | EXECUTIVE SUMMARY 2 | TOTAL PULSE OXIMETRY AND CAPNOGRAPHY AND ANESTHESIA AGENT MONITORING EQUIPMENT MARKETS 3 | PULSE OXIMETRY EQUIPMENT MARKET 4 | CAPNOGRAPHY MONITORING EQUIPMENT MARKET 5 | ANESTHESIA AGENT MONITORING EQUIPMENT MARKET AbstractAggressive Marketing Strategies and End-User Benefits to Spur Growth Hospitals continue to be challenged by tight capital equipment budgets, a drop in patient revenue, and inconsistent reimbursement policies. Huge lay-offs resulting in more uninsured people are compelling hospitals to extend more free care and operate on lower margins. This is adversely affecting the adoption of initially higher priced, advanced technologies, in the hospital market. To boost growth, device manufacturers need to aggressively market new products and help customers understand the benefits of increased reliability, greater productivity and overall lower total cost of ownership (TCO) facilitated by the labor-saving technologically advanced devices. This Frost & Sullivan research analyzes the U.S. market for pulse oximetry, capnography, and anesthesia agent monitoring equipment. It provides detailed insights into recent developments, trends, and emerging applications. This study also provides market forecasts by stand-alone and multiparameter monitoring devices and by hospital versus alternative care markets; pricing analyses, market share, and product profiles of market leaders. Newer Markets, Higher Replacement Rates Provide Impetus Although the traditional hospital market for patient monitors is fairly mature, it is currently experiencing a higher rate of replacement sales than normal as significant technology advancements contribute to strengthened product capabilities. "Solid improvements in motion-tolerance, low-volume, low-flow measurements, ease-of-use and reliability ", according to the analyst, "will contribute to quicker replacement rates for pulse oximetry units in patient monitoring and increase the usage of capnography monitoring equipment overall." Infusion of new technologies is expanding the market and aiding in the deployment of capnography and pulse oximetry to neonatal critical care and emergency medical care. New awareness of sleep disorders and their connection to long-term health is also indirectly driving pulse oximetry as a component of patient monitoring. In addition, future growth is likely to stem from demand for patient monitoring equipment in the diverse and growing alternate care market. This includes home healthcare, skilled nursing facilities, physicians offices, freestanding clinics, and emergency medical and ambulatory care. Stringent Regulations to Offset Inconsistent Reimbursement Policies Inconsistency in medical reimbursement continues to be a point of contention. "Within the acute care market, capnography monitoring, for instance, is still not uniformly recognized as reimbursable, slowing its uptake in acute care situations," says the analyst. However, recent patient monitoring mandates requiring hospitals to monitor the respiratory status of all patients undergoing anesthesia and procedural sedation from the American Society of Anesthesiologists (ASA) and Joint Commission on Accreditation of Healthcare Organizations (JCAHO), are compelling the adoption of patient monitors with capnography capabilities in the critical care units and emergency rooms. While the rise in surgical interventions and procedures is also likely to increase the demand for patient monitoring devices in the future, medical care advocates and manufacturers need to encourage large third party payers such as Medicare and Medicaid to adopt uniform reimbursement policies.
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