Kalorama: Medtronics and Philips Lead Advanced Patient Monitoring Systems Market
NEW YORK, Dec. 3, 2014 /PRNewswire/ -- Medtronic is the largest company in remote patient monitoring systems, according to Kalorama Information. The market research firm at the global level with more than $3 billion in sales and twelve percent of the market. Philips is second with less than ten percent. The finding was made in the seventh edition of Kalorama Information's annual look at the patient monitoring industry. Advanced Remote Patient Monitoring Systems is available from Kalorama Information at http://www.kaloramainformation.com/Advanced-Remote-Patient-8375301/.
Medtronic is a leader in the area of cardiac rhythm management with products such as implantable cardioverter defibrillators, diagnostic and monitoring devices, and patient management tools and services. The company also is active in devices and solutions to help patients manage their diabetes. To enhance the company's position in the glucose monitoring market Medtronic has formed several alliances including those with leaders in the industry for diabetes management Johnson & Johnson and Bayer.
Philips continues to actively invest in its patient care and clinical informatics business, which contributes significantly to the professional patient monitoring market. Acquisitions, such as the 2011 acquisition of Dameca, a global provider of anesthesia machines has assisted the company in maintaining the leading position in the market. The company also continues to introduce clinical systems that provide advanced monitoring capabilities, such as the IntelliVue systems.
"The patient monitoring market is extremely fragmented worldwide with suppliers offering products to a variety of end users (professional, home, and consumer segments), making this one of the largest segments in the health industry," said Melissa Elder, Kalorama analyst.
The report notes that although hundreds of companies compete in the patient monitoring market, a handful of companies dominate the segment. Remaining competitive in the widespread patient monitoring market is a struggle with changing health professional demand and attitudes, consumer requirements, new product introductions, insurance issues, and regulatory changes. Strategies for growth often include the acquisition of key product lines. Alternatively, companies may decide to work in collaboration in order to reach new demographics or to develop new products. Acquiring an established product line can provide turnkey entrance to a segment of the patient monitoring market.
Advanced Remote Patient Monitoring Systems contains detailed marketing sizing and forecasts, as well as a explanation of trends, as well as lists of competitive products and forecasts for categories of the market. The market is segmented by type of disease covered. The report is available at http://www.kaloramainformation.com/Advanced-Remote-Patient-8375301/.
About Kalorama Information -- Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.
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SOURCE Kalorama Information
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