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U.S. Pulse Oximetry and Capnography and Anesthesia Agent Monitoring Equipment Markets
Frost & Sullivan, May 2003
Aggressive 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.
Additional Information
The following technologies are covered in this report:
Pulse Oximetry Monitoring: Pulse oximetry provides a fast, accurate and non-invasive method to assess a patient's arterial oxygen levels. The measurement is taken from a sensor placed over the toe, finger or ear lobe. A light (red and infrared) is shined through the finger or other appendage to a photo-detector on the other side. Some of that light is absorbed by the presence of intervening blood and the result is displayed as a percent of oxygen saturation. Pulse oximetry is used in every multiparameter patient monitor device available in the market today.
Capnography Monitoring: Also known as end-tidal carbon dioxide (ETCO2), capnography provides a measure of a patient's carbon dioxide concentration. By monitoring a patient's inspired and expired air, the amount of expired carbon dioxide can be calculated. This is used to determine if a patient is being adequately ventilated. Poor ventilation relative to good blood exchange can occur in patients with pneumonia and excessive mucus in the lungs. Poor blood exchange relative to ventilation can occur in the case of blood loss, pulmonary embolism, hypotension and cardiopulmonary arrest.
Anesthesia Agent Monitoring: Anesthesia agent monitors are used in the operating room to detect the presence of anesthetic gases. The anesthesia agent monitor can identify and quantify individual gases and gas mixtures. It is used to prevent the accidental administration of the wrong gas.
Stand-alone Units: Stand-alone units refer to devices, which are primarily used to measure a single patient vital sign such as pulse oximetry or capnography. Stand-alone devices can be used as a larger, more durable bedside monitoring device or as a small, portable, lightweight hand-held device. These devices are often used to take single, spot checks.
Multiparameter Units: Multiparameter units refer to multiparameter patient monitors that measure more than one patient vital sign. Pulse oximetry, capnography and anesthesia agent monitors can all be incorporated into a multiparameter patient monitor either as a configured device or as a modular system. Configured monitors have specific patient vital signs built into the unit. Modular multiparameter patient monitor systems comprise of a core monitor box with slots into which separate units or modules for various parameters can be fitted.
Hospital Market: The hospital market is composed of traditional hospitals (those hospitals with attached surgical facilities) and free-standing surgery centers (surgery centers not affiliated with a hospital).
Alternative Care Market: The alternative care market encompasses doctors’ offices, dental offices, ambulatory clinics, skilled nursing facilities, emergency medical services, independent sleep centers, endoscopy centers and home healthcare.
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