Double-Digit Growth Expected for Hemodynamic and Neurological Patient Monitoring Markets Over the Next Five Years
WALTHAM, Mass., Sept. 3 /PRNewswire/ — According to Millennium Research Group’s (MRG) US Markets for Critical Care Patient Monitoring 2008 report, the trend towards minimally and noninvasive techniques in the hemodynamic and neurological segments of the market is on the rise. This trend, combined with decreasing hospital costs, is expected to result in double-digit annual market growth in these segments over the next five years.
Critical care areas of hospitals can represent a substantial expense with high staff-to-patient ratios and frequent testing of patients required. The desire to contain hospital costs is a strong driver of the noninvasive hemodynamic monitoring market. Traditional methods of hemodynamic monitoring are extremely expensive, with catheter insertions performed only by skilled physicians. Minimally invasive and noninvasive devices, however, are easier to use, and many can be placed by a nurse. This ease-of-use enables the monitoring of large patient volumes while containing staffing costs, contributing to the popularity of less invasive hemodynamic monitoring techniques through 2013.
“End-user feedback gathered for this report gave us plenty of insight into how ICU nurses feel and are dealing with trends favoring less invasive monitoring technologies and cost savings,” says Sarah Leonard, Analyst at MRG. “When asked what characteristics are most important in a patient monitor, critical care nurses agree that ease-of-use is the most important issue.”
Substantial opportunities for growth also exist for neurological advanced monitoring technologies due to their ability to indicate complications and potential problems well in advance of cerebral swelling. Because advanced neurological monitoring can measure brain oxygenation, partial pressure of carbon dioxide, and metabolic waste products, clinicians can use advanced neurological monitoring to detect suboptimal neural function in the earliest stages. This allows physicians and nurses to manage a patient’s neurological condition while preventing more serious brain damage.
MRG’s US Markets for Critical Care Patient Monitoring 2008 report includes coverage of industry competitors such as Edwards Lifesciences, GE Healthcare, Hospira, Integra LifeSciences, LiDCO, Philips Healthcare, Somanetics, and Spacelabs Healthcare.
About Hemodynamic and Neurological Monitoring
Hemodynamic monitoring is used in critical care units to continuously monitor patients who suffer from cardiovascular disease. Hospitals use data to improve critical care patient management through early detection of complications such as cardiogenic shock. Neurological monitoring is used in critical care units to ensure the maintenance of healthy brain tissue and prevent nervous system injury. It is carried out through the early detection of complications in patients at high risk of brain damage due to severe head trauma, cerebral aneurysms, and liver failure.
About Millennium Research Group
Millennium Research Group (http://www.mrg.net/), a Decision Resources, Inc. company (http://www.decisionresources.com/), is the global authority on medical technology market intelligence and the leading provider of strategic information to the health care sector. The company provides specialized industry expertise through published reports, ongoing Marketrack(TM) projects, and customized solutions.
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