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Critical Care Equipment

The critical care market has witnessed slow growth since 2010, though one sector in particular, remote patient monitoring, is witnessing significant growth.

Mon Jul 02 2012By Lanier Norville, Medical Dealer Magazine

The critical care market has witnessed slow growth since 2010, though one sector in particular – remote patient monitoring – is witnessing significant growth. Research and Markets predicts an increase of only 2.8 percent per year in the global market until 2017, according to a new report, though growth was reported at 5 percent annually between 2002 and 2010. In the report, “Critical Care Market to 2017,” the research firm estimates that the overall critical care market was worth about $1-13 billion in 2010.

The critical care market includes ICU equipment such as ventilators, IV equipment and patient monitoring devices, as well as a wide array of drugs.

“The increased availability and usage of PCC, albumin products and factor concentrates for the management of various bleeding complications, and high risk surgical settings such as trauma, PPH (post partum hemorrhages), cardiac surgery and liver diseases, will drive the market in future,” according to the report.

Kalorama Information reports that the increasing prevalence of the ‘eICU’ or ‘tele-ICU’ will foster growth in the market, particularly in remote patient monitoring. Due to the predicted shortages of intensivists, cardiologists and nurses in the U.S. in the next 5 to 10 years, the concept of these eICU systems in a critical care setting is growing. New technologies in remote patient monitoring have the potential to combat personnel shortages as well as costs, and reduce hospitalization times, according to Kalorama Information. In a new report, the health care market research firm valued the U.S. market for remote patient monitoring at $7.1 billion in 2010 and forecasts an annual growth rate of 25.4 percent, reaching $22.2 billion by 2015.

The Swedish Medical Center in Seattle has bee...

To read this complete article in July's Medical Dealer, click here.

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