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Saturday, 20 May 2017
In-Depth Study on South Korea Patient Monitoring Equipment Market 2017
South Korea Market Overview for Patient Monitoring Equipment 2017 - MedView is a new market research publication announced by Reportstack.
General Report Contents• Market Analyses include: Unit Sales, ASPs, Market Value & Growth Trends • Market Drivers & Limiters for each chapter segment • Competitive Analysis for each chapter segment • Section on recent mergers & acquisitions Despite growing demand for quality patient monitoring solutions, some hospitals cannot afford high-cost monitoring platforms in light of budget constraints. In addition, the shrinking hospital profit margins, reimbursement cuts and consolidation within industry (i.e. private practices closing in favor of security of hospital affiliation) all reduce the total market opportunity and is resulting in more rapid ASP declines. Moreover, given the lack of reimbursement from alternate care setting devices, low growth is expected in many of the patient monitoring market segments.
In light of an aging population as well as environmental and chemical stressors the number of chronically ill patients within the population has been steadily increasing. This includes those individuals being diagnosed with heart disease, obesity, diabetes, high cholesterol and high blood pressure among other conditions. Furthermore, these illnesses are becoming more prevalent among younger demographics. As a result, patient monitoring and diagnostic equipment will be in higher demand facilitating increased investment into capital equipment and disposables. Moreover, the ease of use, accuracy and affordability of these devices will become an important factor in product development within the home patient monitoring device market.
A trend that is currently prevailing across Korea relates to the adoption of less-invasive, more accessible, patient-centric monitoring device configurations. This is exemplified by the movement towards wireless telemetry solutions and remote patient monitoring platforms in the hospital. Furthermore, emphasis is now being placed on patient comfort and mobility across lower-acuity care settings, wherein gaps in monitoring are further being filled with portable solutions. With respect to consumables, there is a shift in demand towards disposable units in many regions as a proactive means of reducing cross-contamination risk and reducing liability concerns. Each of the aforementioned trends are in line with the general drive to improve patient outcomes through reduced complication and mortality rates, thereby promoting long term cost savings. This will help, in turn, to improve the quality of care while also alleviating pressure associated with budgetary constraints across the care continuum.