The Chinese market for patient monitoring devices and equipment includes products that are designed to measure and observe changes in vital signs, or the neurological, homodynamic and cardiac functions of a patient. The devices exist within almost all areas of hospitals and alternate care sites and are also used in patient homes. Patient monitoring devices are also used for diagnosing patients with certain health complications, providing alerts and tracking treatments. They are aimed at effectively, accurately and quickly obtaining readings that allow healthcare professionals to make appropriate decisions for patient care. In many cases, patient monitoring devices play a key role in influencing treatments and patient outcomes.
The most notable patient monitoring devices include multi-parameter monitoring and pulse oximetry devices. These devices are essential to surgeries for monitoring vital parameters from the heart, blood and lungs. Healthcare professionals require information on patients’ vital signs in order to detect major complications and intervene in time to prevent death. As the patient monitoring device and equipment market evolves to become more efficient, less costly and more comfortable for patients and healthcare professionals alike, a shift from old equipment and technologies to new technologies is essential. Moreover, as patients are shifted out of hospitals and into alternate care sites to save costs, patient monitoring devices will accompany them. Patient monitoring is also increasingly becoming more mobile and prevalent in the home because of various forces that are driving cost-saving measures and the adherence to more preventative and re-admission-averse care models.
The Chinese market is still undergoing frequent and drastic changes in terms of regulations, shaped by efforts to contain the growing healthcare budget and increase market transparency. Specifically, in some markets, the prices are being directly reduced by the government. For example, it was announced that pricing for surgical devices is aimed to be reduced by 15% to 25%. Furthermore, the Chinese healthcare tender system is also directly controlled by the government, and changes every two to four years. Therefore, if the Chinese government suddenly decides to give more tenders to a local low-cost producer, then the ASP of the entire market segment will decline accordingly.
The high-end healthcare market will extend into lower-tier cities, while main customer groups, on which key specialties focus, will shift from middle- to high-end customers. At the same time, services that integrate medical services with tourism are also expected to grow. Meanwhile, with hospital reform, particularly with increased medical professional mobility, private hospitals will be able to enter the premium healthcare segment that previously held high technical barriers.
Abstract The full report suite on the China market for patient monitoring equipment includes multi-parameter vital signs monitoring, wireless ambulatory telemetry monitoring, telehealth, electromyogram monitoring, electroencephalogram monitoring, fetal and neonatal monitoring, pulse oximetry, and blood pressure monitoring devices. Across China, there is an increasing emphasis placed on patient comfort and mobility across lower-acuity care settings, wherein gaps in monitoring are further being filled with portable solutions.
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