Healthcare Technology Featured Article

November 15, 2013

More Chronic Disease Cases Spur Adoption of Multi-Parameter Monitors


The Center for Managing Chronic Disease at the University of Michigan offers some sobering statistics about chronic disease in the U.S.

 For example, the CMCD estimates that 20 percent of people in the U.S., or one out of every five Americans, has either diagnosed or undiagnosed diabetes. Diabetes costs the U.S. healthcare system $174 billion per year. Also, two-thirds of adults over the age of 20 are overweight or obese and over 26 million Americans have heart disease.

 In Europe, deaths from cardiovascular and respiratory diseases have fallen over the past decade. However, more Europeans are living with diseases like diabetes, depression, cancer and musculoskeletal disorders. In many cases, a person that has heart disease may also have diabetes.

 

 

Multi-parameter patient monitors help hospitals to keep track of patient vital signs and other statistics so that doctors can treat multiple chronic disorders at once. According to IHS, the market for multi-parameter monitors is growing. However, across the Atlantic, Frost & Sullivan predicts that the multi-parameter monitoring market won't reach its full potential.

 Price erosion, reimbursement issues and demand structure have contributed to the dampening market. As more competitors enter the marketplace, prices for multi-parameter monitors have lowered. Competition from Asian manufacturers, in particular, has driven down prices.

 To remain competitive, Frost & Sullivan notes that vendors may have to bundle multi-parameter monitors with other medical devices to add value. In Europe, many hospitals purchase monitors only when they desperately need them. This delay happens because of unfriendly reimbursement policies and long mandated replacement periods.

 Finally, demand structure has made the market lean toward lower-priced monitors. In the U.S., the low-acuity multi-parameter monitoring market may increase as much as 40 percent over the next few years.

 Low-acuity hospital awards take care of patients that are not critically ill. By improving care in low-acuity parts of the hospital, administrators hope to reduce patient readmissions. However, low-acuity monitors are cheaper than monitors used in high-acuity sections like the emergency department, operating rooms and intensive care.

 IHS predicts that low-acuity monitors will remain in great demand. With emerging market manufacturers producing these monitors at a much lower cost, high-end manufacturers will have a hard time justifying their prices.




Edited by Cassandra Tucker
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