Printer Friendly

SAFETY MONITOR & DEVICE MARKET TO NEAR $8 BILLION BY 1998, GROW AT 11 PERCENT

 MOUNTAIN VIEW, Calif., Feb. 3 /PRNewswire/ -- Spurred by intensified regulatory compliance efforts, U.S. sales of health and safety monitors, devices and accessories will nearly double from $4.2 billion in 1992 to $7.9 billion in 1998, growing at an 11-percent compound annual rate, projects new study just issued by Market Intelligence.
 Growth will be strongest in the near future for eyewear, currently 9 percent of the market and beginning in mid-decade for protective clothing, now 42 percent of revenues, forecasts the report, "Industrial, Personal & Occupational Safety Monitor, Device & Accessory Markets: Business Steps Up Compliance Efforts."
 Eventual implementation of stricter federal OSHA (Occupational Safety and Health Administration) regulations long opposed by the outgoing Bush Administration could enhance market growth. Proposed changes would enlarge the scope of the agency's enforcement responsibilities and bring extension of coverage, adoption of written programs and required worker-management safety teams in many more companies, other new regulations, deadlines and reporting requirements, and criminal penalties for employer conduct now subject only to civil damages.
 New rules protecting healthcare workers from HIV exposure and other infections will also spur growth, along with tightened federal lab standards and other safety rules and enforcement policies such as new measures to limit damage caused by high-level gas leaks and plant explosions. Some 39 percent of total 1991 sales in this market were generated by manufacturing companies, the most susceptible employers to worker injury. Manufacturing processes may include such hazards as exposure to particulates generated during tooling operations and chemicals used as sealants and coatings, and skin and extremity damage through cuts abrasions during parts assembly or handling.
 Advances in microprocessor technology are enhancing health monitors like spirometers, audiometers and gas and chemical detection units, incorporating computers that accumulate large amounts of clinical data on individuals for
baseline and annual comparisons. Testing is simplified by menu-driven operation and standard steps for obtaining results.
 Protective clothing is using stronger, lighter-weight and more chemical- and temperature-resistant fabrics. Other major technological advances include cartridge-based filtration found in air-purifying respirators, and encapsulating suits. AT the same time, much of the market -- comprised of ear plugs and muffs, lab coats, gloves and masks -- represents stable longstanding technologies.
 Continuing market debate centers on the choice between disposable and reusable items. Ease of use and low maintenance costs favor disposables, and disposables will remain the obvious choice for working with hazardous materials. While very inexpensive on an occasional basis, annualized disposable expenses can exceed those for reusables.
 At least 22 million U.S. workers require safety devices and apparel during performance of daily job duties. Implementation, however, is often lax with nearly half of injured workers reporting non-compliance with use of available equipment.
 The market size remains small when compared to current $50-billion- plus annual costs in the United States from medical expense, lost productivity and compensation for occupational injuries not prevented.
 Market Intelligence is an international high-technology research firm specializing in healthcare and industrial markets. All Market Intelligence reports are based on extensive interview with marketing and technical experts from selected companies in each market segment. Primary research is validated by thorough analysis of available secondary research. Since 1982, Market Intelligence has emerged as one of the leading publishers of high-technology market research reports.
 Total Personal and Occupational
 Safety Monitor, Device and Accessory Market: Unit
 Shipment and Revenue Forecasts (U.S.), 1988-1998
 Units Revenues Revenue Growth Rate
 (Million) ($ Million) (Percent)
 1988 488.0 2,797.4 ---
 1989 521.9 3,068.5 9.7
 1990 562.8 3,383.8 10.3
 1991 612.1 3,765.1 11.3
 1992 672.4 4,211.7 11.9
 1993 745.0 4,704.8 11.7
 1994 831.7 5,250.4 11.6
 1995 933.7 5,845.5 11.3
 1996 1,053.4 6,469.5 10.7
 1997 1,193.7 7,147.7 10.5
 1998 1,357.2 7,885.6 10.3
 Compound Annual Growth Rate (1991-1998): 11.1 percent
 -0- 2/3/93
 /CONTACT: Amy Arnell of Market Intelligence, 415-961-9000/


CO: Market Intelligence ST: California IN: CPR HEA SU: ECO

TM-GT -- SJ004 -- 2480 02/03/93 14:13 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 3, 1993
Words:690
Previous Article:AMERICAN PRESIDENT COMPANIES DECLARES QUARTERLY DIVIDEND
Next Article:KAEPA HAS MUCH TO SHOW AT SUPER SHOW
Topics:


Related Articles
MARKET INTELLIGENCE: NEW TECHNOLOGIES, COST-CONTAINMENT SPUR HOME MONITORING MARKETS, TO NEAR $2 BILLION BY 1999
TRW and Motorola Develop Innovative In-Vehicle Network Architecture, The Industry's First Open Standard for Advanced Safety Systems.
Retractable Technologies, Inc. Awarded Contract to Supply Its VanishPoint(R) Syringe to Premier Healthcare Group Purchasing Organization.
Frost & Sullivan: Growth of Sleep Centers and Laboratories Meet Demand For Increased Diagnosis and Treatment of Sleep Disorders.
New Report by U.S. Department of Commerce Shows 58 Percent Gain for Chicago Export Sales.
SpectRx Demonstrates Eland-Held Laser Prototype as Part of Integrated Continuous Glucose Monitoring System at Chase Hambrecht & Quist Healthcare...
Somanetics Corporation Signs Marketing Agreement With Advanced Medical Resources of Houston.
AUSTRALIA APPROVES CARDIAC SCIENCES' POWERHEART.
IN BRIEF.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters