DUBLIN -- (BUSINESS WIRE) -- Research and Markets (http://www.researchandmarkets.com/research/k9m72v/u_s_market_for) has announced the addition of the "U.S. Market for Patient Monitoring Equipment (Executive Summary)" report to their offering.
The U.S. patient monitoring market was valued at over $3.5 billion in 2013 and will grow to over $5.1 billion by 2020 due to the most notable expansion of multi-parameter vital sign monitors, electroencephalograms (EEG), electromyograms (EMG), cerebral oximeters, and pulse oximetry devices. The Pulse oximetry monitoring market alone is expected to exceed $1.0 billion by 2020. Players leading this growth are Medtronic, Bosch Healthcare, St. Jude Medical, Honeywell, Boston Scientific, Philips Healthcare, and Biotronik.
With the mounting pressure to decrease healthcare costs, patients are moving out of hospitals to alternate care sites earlier, making patient monitoring devices essential to their continued post care. Patient monitoring is becoming increasingly more mobile and prevalent in homes due to the various cost-saving measures. This mobility is making a significant impact on preventing unnecessary patient deaths in hospitals and alternate care sites as well as re-admission of patients recovering at home.
The Veteran's Health Administration (VHA) represents the largest example of Telehealth success within the U.S. Their achievements within Telehealth continue to serve over half a million patients who receive Telehealth-based solutions.
In addition, new products which feature smartphone integration and Bluetooth capabilities entering the market will further drive sales.
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