Report: U.S. patient monitoring market to exceed $5.1B by 2020

The U.S. patient monitoring market—valued at more than $3.5 billion in 2013—will exceed $5.1 billion by 2020, according to a report from iData Research, a global medical device marketing firm.

The report attributes much of the growth to the expansion of multi-parameter vital sign monitors, electroencephalograms, electromyograms, cerebral oximeters and pulse oximetry devices. The pulse oximetry monitoring market alone is expected to exceed $1 billion by 2020, according to the firm.

Other devices expected to grow this market include modern pacemakers, implantable cardioverter defibrillators and hemodynamic monitors. Major companies leading the growth include Medtronic, Bosch Healthcare, St. Jude Medical, Honeywell, Boston Scientific, Philips Healthcare and Biotronik, according to the firm.

iDataResearch reports that the Veteran’s Health Administration represents the largest example of successful telehealth in the U.S., serving more than 500,000 patients with this technology.

“There has been a surge of interest in implantable electronic devices,” said Kamran Zamanian, PhD, president of iData Research, in a statement. “Remote monitoring of these devices by doctors and caregivers could significantly reduce in-office follow-up visits.  Devices such as the cardioverter defibrillator that is controlled remotely could be lifesaving.”