Technology Innovation Breathes New Life into Ventilators Market
A new study from InMedica, a division of IMS Research (recently acquired by IHS Inc. (NYSE: IHS)), The World Market for Ventilators and Interfaces – 2012, highlights the importance of interoperability and decision support tools to optimize workflow in the clinical care area. As cost-efficiency becomes an increasingly important factor in purchasing decisions, the technology offered by manufacturers is being more closely scrutinised. Traditionally, innovation in the ventilators market has been slow with the focus on the quality of ventilation provided. However, with increasing pressure on healthcare providers, manufacturers are witnessing a strong drive for digitalization in the hospital environment. Consequently manufacturers are required to consider the total care environment and care-giver in future technical developments. Interoperability in an ICU ward is becoming more apparent with ventilators now required to work in conjunction with other devices such as patient monitors and infusion pumps. Preference has been shown for manufacturers offering this type of technology.
InMedica’s research found digitalization of ventilators was reflective of an increasing trend for medical devices to be networked to a clinical information system (CIS). “With pressure on physicians and nurses showing no signs of decreasing, automated workflow within the hospital is becoming more important. Closed loop systems and Adapted Support Ventilation (ASV), minimizing risk of over-oxygenation and reducing monitoring demand on the care-giver are becoming increasingly accepted,” commented Nicola Goatman, market analyst at InMedica. “Closed loop systems are particularly popular in the U.S. and Europe where healthcare services provide a high level of care to a large population. Within the ventilators market there is a need to improve integration with IT systems, allowing data from the ventilator to be stored digitally. Increased use of electronic patient records (EPR) stored on the CIS is forecast, allowing more informed decision making and treatment planning within the hospital.”
With the North American and Western European critical care markets largely saturated, unit shipment growth rates are reflective of a replacement market. InMedica forecasts a five year compound-average annual growth rate (CAGR) of 2.0 percent and 1.2 percent for the North American and Western European critical care markets respectively. Future replacements of ventilator devices are projected to be dominated by products that offer interoperability as manufacturers partner with IT specialists to improve connectivity between medical devices and hospitals information systems.
Along with high specification of clinical features manufacturers are under increasing pressure to provide light-weight, easy to use ventilators with decision support features at lower cost, a challenge which will drive technical developments in the ventilators market for years to come.
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