Greater Need for Cost-Efficient Quality Care in Hospitals Drives Demand for New Technologies.Business Editors/Health/Medical Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Aug. 20, 2003 Given the integral nature of temperature measurement in the realm of patient monitoring, the market for digital, infrared and electronic thermometry thermometry Science of measuring the temperature of a system or the ability of a system to transfer heat to another system. Temperature measurement is important to a wide range of activities, including manufacturing, scientific research, and medicine. continues to grow in spite of increasing market saturation In economics, "market saturation" is a term used to describe a situation in which a product has become diffused (distributed) within a market; the actual level of saturation can depend on consumer purchasing power; as well as competition, prices, and technology. and competition. While the market has not witnessed radical technological changes in recent years, constant improvements to the speed of technology drive the market to new levels. In the hospital arena, growing acuity is fueling demand, as hospitals require increased one-in-every-room type bedside patient monitoring. New analysis from Frost & Sullivan (www.frost.com), U.S. Temperature Monitoring Equipment Markets, reveals that this industry generated revenues totaling approximately $143 million in 2002. Total market revenues are forecasted to reach $196 million by 2009. A number of key trends are noted in the report. One of the most striking is the ease and speed with which new entrants continue to launch new products in the thermometry market. Low barriers to entry have contributed to increased market saturation and placed increasing pressure on prices. Since the products are relatively undifferentiated, price has become a key competitive factor. This trend has also encouraged the strong growth of private label brands. "The growth of private label brands is seen as a sign that thermometry products are becoming more commodity-type items than branded ones," remarks Seemeen. A company's resources and market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" strategy will influence its decision to either invest in developing a brand image or follow the increasing trend of pursuing private label volumes. Another report highlight is the advancement in digital and infrared technologies that are propelling the market forward with improved testing speed, convenience and accuracy. Within the hospital market, electronic thermometer technology is being enhanced to incorporate self-documenting features to improve workflow and overall productivity. "With hospitals demanding faster and more reliable technologies, manufacturers need to promote the features that enhance work-flow, market productivity and overall cost saving advantages within the hospital," states Frost & Sullivan Research Analyst Seemeen Mirza. Manufacturers will have to devise solutions that reduce technique-sensitivity and improve ease of use for nurses with varying experience and skill levels. The devices must be durable and dependable enough to avoid the need for re-checking vital signs. The goal is to allow hospital staff to spend more time providing quality care to patients and less time taking vital signs like temperature. "While there are strong efforts to improve the top-line performance, companies will have to closely review cost reduction programs in product procurement, packaging, and overall organizational outlays," notes Seemeen Mirza. Frost & Sullivan will hold this conference call at 2:00 p.m. (CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT )/3:00 p.m. (EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT ) on Tuesday, Aug. 26, 2003, which will provide industry participants an overview of the U.S. Temperature Monitoring Equipment Markets. To participate, please e-mail Danielle White Danielle Marie White (born February 2, 1992 in Cincinnati, Ohio) is an American singer who was raised in Bradenton, Florida. In 2003, White appeared on the reality television series American Juniors at dwhite@frost.com with the following information: Name, Company, Title, Telephone Number, and e-mail. Upon receipt of the above information, a confirmation/pass code will be e-mailed to you. The following is a key list of industry participants: A&D Medical, 3M, Alaris Medical Systems, American Diagnostic Corporation, Becton Dickinson BD (NYSE: BDX), is a medical technology company that manufactures and sells medical devices, instrument systems and reagents. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs 27,000 people in nearly 50 countries. & Company, Braun, Exergen Corporation, Faichney Medical, Kaz Incorporated (Vicks), Mabis Healthcare Inc., Mark of Fitness Inc., Medport Inc., Omron Corporation, Physitemp Instruments, Samsung Healthcare, The Lumiscope Company Inc., Trimline Medical Products Corporation, Welch Allyn, YSI YSI Yousendit (File Transfer Website) YSI Youth Science Institute YSI You Stupid Idiot , Incorporated, Zewa Medical Technology. Frost & Sullivan is a global leader in strategic growth consulting. This ongoing growth opportunity analysis is part of the Patient Monitoring Subscription, which also includes market insights on blood pressure monitoring, multiparameter equipment, telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. equipment, and pulse oximetry pulse oximetry Oxygen saturation measurement, SaO Critical care A method used to determine the O2 saturation–SaO2 and desaturation of blood in a continuous noninvasive fashion, through the noninvasive assessment of arterial Hb-bound . Frost & Sullivan also offers custom growth consulting to a variety of national and international companies. Interviews are available to the press. U.S. Temperature Monitoring Equipment Markets Report: A577 |
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