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U.S. Market for Emergency Patient Tracking Systems (EPTS)
Frost & Sullivan, Oct 2009, Pages: 35
This research service analyzes market trends in the U.S. Market for Emergency Patient Tracking Systems (EPTS) since 2007, predicts future changes in market measurements through 2012, and discusses specific challenges facing industry participants and strategic recommendations targeted to overcome these challenges. Market revenues, unit shipments, and average prices are presented and discussed.
Introduction
Since 9/11 the disaster or mass casualty incident (MCI) responsiveness of a city or civic system has been under renewed scrutiny. Regardless of cause, disasters are events that overwhelm a community's emergency response system because of their magnitude, urgency and intensity. Effective response is beyond the capability of the immediately available human and material resources. Even though initial interest due to 9/11 has begun to fade and operational procedures are maturing, the ongoing need for effective response systems for mass events remains strong.
In general, these systems are designed to handle large inflows of patients in a hospital system in an efficient and orderly manner. As the inflow of patients increase this need for efficiency and ease of use become paramount. Currently, many of these systems handle patients similar to inventory management, linking patients to a bar code which is then quick and easy to scan and track during the patient's time in the healthcare system. While these systems have applications during normal patient flow, they are utilized fully during very large patient inflows. Other related systems have been designed and are promoted to work in tandem with these emergency patient tracking systems by the market participants. One example would be volunteer management programs which manages and validates the huge flow of volunteers during a major event.
This Frost & Sullivan research service titled U.S. Market for Emergency Patient Tracking Systems (EPTS) provides an in-depth analysis of market drivers and restraints, industry structure, and competitive environment besides dealing with the challenges and issues faced by market participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: bar code, IT systems, management systems, and electronic medical records (EMR)
Market Overview
Expanding Applications Drive Growth of the U.S. Market for Emergency Patient Tracking Systems
The U.S. market for EPTS is witnessing escalating demand, driven by the growing awareness of the products and the desire of the younger generation to deploy modern technology to better prepare for future exigencies. Events such as the outbreak of the H1N1 pandemic underpin the importance and need for this market and the solutions it provides. With the occurrence of natural disasters such as hurricanes or earthquakes and terrorist activities becoming rampant, the need for effective patient tracking systems is enhanced. 'As emergency scenarios arise, the market is provided with a new opportunity to fine tune their product offerings, moving toward the highly malleable and customizable solutions,' notes the analyst of this research service. 'Products in this space are highly developed and properly field tested; also, operational procedures, which are key components in the emergency patient market, are starting to mature.' Low market saturation is another aspect favoring the market. Currently, the market services early adopters as its primary customer base with a vast majority of the market still remaining untapped. In due course, the market will evolve, becoming less of a niche market and more of a fully realized one.
Although the market outlook remains positive, some challenges are clouding the landscape. One consistent challenge encountered with disaster response is localized around communication and information management. Disaster response requires moment-to-moment analysis and real-time information management from the incident site to assess needs and available resources. After the event, patient population tracking becomes crucial during family reunification. Disasters overwhelm a community’s emergency response system owing to their magnitude, urgency, and intensity. Effective response is outside the scope of immediately available human and material resources. While the initial interest generated by 9/11 is fading a bit, this market looks to be establishing itself as a true market space. Trends indicate that these systems are going to be around for a long time. 'Technical education levels among users tend to restrain growth in the emergency patient tracking system market,' says the analyst. 'With little long term examples to look upon, it falls upon the manufacturer’s wits alone to showcase the value of these systems.' Over the years, these educational restrictions have begun to lift, but remain a chief concern plaguing the market.
The current economic situation is further complicating matters with tight grants and funding. Companies have to devise strategies to sell around these constraints, altering products, sales plans or both. Participants must expand their product offerings, target a wider customer base and strive to enhance the overall usefulness of these systems. Due to the high IT component to patient tracking, the market is at the crossroads between the increasing integration of healthcare and IT. The advancement of crossover technologies creates some interesting growth prospects for the market. The integration of smart phones into an emergency tracking system as a value-added feature holds promise for the market. Going forward, companies will pursue these fascinating technological possibilities that will eventually stoke growth, particularly in the long term.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Bar code
- IT systems
- Management systems
- EMR
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