With technological advancement, multi-parameter monitoring devices are increasingly being used in more diverse situations
Vancouver, BC (PRWEB) October 16, 2014
According to a report by iData Research (http://www.idataresearch.com), the multi-parameter vital sign monitoring market segment in the Asia-Pacific region is both stable and exceptionally valuable; over the next few years, this segment will steadily approach, and eventually surpass, US$ 400 million. Those involved in multi-parameter vital sign monitoring should pay close attention to Japan, a market deeply interested in technological advancements in this industry.
“With technological advancement, multi-parameter monitoring devices are increasingly being used in more diverse situations,” says Dr. Kamran Zamanian, CEO of iData. “Wireless telemetry is moving to the wayside as hospitals use more high-, mid- and low-acuity monitors. And moreover, the market for fetal and neonatal monitoring devices is expected to decline as birth rates reach historic lows.”
Other key findings from the iData Research report entitled Asia-Pacific Patient Monitoring Market include:
Key Physician Values for Patient Monitoring Devices
Clinically, there is a demand for high performance devices with appealing features. Devices with connectivity abilities can display integrated information from different devices across the hospital, and from the hospital information system. This allows physicians to have a complete patient profile from a single point of access. Monitors with large touch screens will become more popular, as they make it easier to display and use patient data.
Regional Differences for Wireless Ambulatory Telemetry Monitors
There are striking regional differences in the expected performance of the wireless ambulatory telemetry monitor markets in the Asia-Pacific region. The South Korean and Australian markets are expected to perform well over the forecast period. The importance of mobilizing patients post-surgery has been widely acknowledged across Australia, and use of telemetry monitoring will continue to grow. In South Korea, a preference for sophisticated, higher-priced products will drive increases in the ASP of the market.
Greater Attention to be Placed on Replacement Sales
The Asia-Pacific patient monitoring market is characterized by mature market segments that are driven primarily by replacement sales. Growth rates within particular regions and market segments vary, depending on local policies, hospital investment and preferences. However, some market growth can be expected due to the need to equip new hospitals in South Korea.
The market for patient monitoring equipment in the Asia-Pacific region is highly concentrated, with the four leading competitors controlling over 75% of the market. However, a large number of smaller competitors are gaining market share. The four major players are Nihon Kohden, Philips Healthcare, GE Healthcare and Fukuda Denshi, with Nihon Kohden controlling a much larger share than the other three.
For Further Information
iData Research carries a full suite of up-to-date (2014), globe-spanning market research reports covering patient monitoring equipment. Find detailed information on market values, unit sales, average selling prices, as well as competitive market analyses for major and upcoming players alike. Reports cover Japan, Australia, South Korea, 15 European countries and the United States. Market segments covered include multi-parameter vital sign monitoring, wireless ambulatory telemetry monitoring, EMG monitoring, EEG monitoring, fetal & neonatal monitoring, and pulse oximetry.
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About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device, dental and pharmaceutical companies. iData covers research in: patient monitoring, endoscopy, women’s health, cardiovascular, orthopedics and more.