Category Archives: Medical Devices

Medical Device Outsourcing

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Medical device; pacemaker
Pacemaker. The cardiology segment of the medical device outsourcing market claimed the highest revenue share in 2019 and is expected to be the fastest growing segment through 2027.
Geographic reference: World
Year: 2019 and 2027
Market size: $104.5 billion and $231.2 billion, respectively

Today’s market size shows total global revenues for medical device outsourcing. Think about “outsourcing” and you might think “manufacturing,” especially if you live in the United States.1 In this case, you would be mostly correct. Contract manufacturing claimed 55.8% of the market in 2019. What other aspects of the business do medical device firms outsource? A quarter of the revenue came from a combination of quality assurance services, product design and development services, and product testing and sterilization services. Revenue from regulatory affairs services, product implementation services, product upgrade services, and product maintenance services rounded out the rest of the market. More than 300 medical device contract research organizations offer services such as clinical trial monitoring, clinical data management, initiation of clinical trials, medical writing, formulation of clinical strategies, and clinical product management.

Chronic diseases are on the rise across the world. Since 1990, rates of diabetes climbed 148%, chronic kidney disease 93%, ischemic heart disease 50%, and COPD 26%. As chronic disease rates rise, demand for medical devices also rises. The cardiology segment had the highest revenue share in 2019 and is expected to be the fastest-growing segment through 2027. In vitro diagnostic device (IVD) segment revenues are also expected to experience significant growth over this time period. IVDs are defined as “reagents, instruments, and systems intended for use in [the] diagnosis of disease[s] or other conditions, including a determination of the state of health, in order to cure, mitigate, treat, or prevent disease or its sequelae. Such products are intended for use in the collection, preparation, and examination of specimens taken from the human body,” according to the U.S. Food and Drug Administration.

The Asia-Pacific region had the highest revenue share for medical device outsourcing in 2019 and is expected to continue to hold the highest share through 2027 due to increasing research and development, adoption of new technology, availability of a skilled workforce, and lower cost of devices. North America also had a significant share of the market owing to its advanced electronics sector. Some leading companies providing outsourcing services to medical device firms include SGS SA, Toxikon Inc., Eurofins Scientific, Pace Analytical Services LLC, Intertek Group PLC, Wuxi Apptec, North American Science Associates Inc., Tüv Süd AG, American Preclinical Services, Sterigenics International LLC, and Charles River Laboratories International Inc.

1 In the United States, manufacturing jobs averaged a high of 19,428,000 in 1979 and fell to a low of 11,529,000 in 2010, a loss of more than 7.8 million jobs. While not all of these job losses were due to outsourcing—some were due to automation—the focus of the discussion around this issue has been on companies closing plants in the United States and opening them across the border in Mexico and overseas in the Asia-Pacific region. By 2019 manufacturing employment rebounded slightly to 12.8 million. For more information about the manufacturing sector as a whole and individual NAICS industries in the United States, see Manufacturing & Distribution USA, 9th Edition.

Sources: “Medical Device Outsourcing Market Size Worth $231.2 Billion by 2027,” Grand View Research Press Release, February 2020 available online here; “Medical Device Outsourcing Market Size, Share & Trends Analysis Report by Service (Quality Assurance, Regulatory Affairs Services), by Application (Cardiology, Diagnostic Imaging, Orthopedic), by Region, and Segment Forecasts, 2020 – 2027,” Grand View Research Report Summary, February 2020 available online here; “Manufacturing: NAICS 31-33,” Industries at a Glance, U.S. Bureau of Labor Statistics available online here; Mary Van Beusekorn, “Global Study Shows Deadly Convergence of Chronic Disease, COVID-19,” Center for Infectious Disease Research and Policy, University of Minnesota, October 16, 2020 available online here; “Overview of IVD Regulation,” U.S. Food and Drug Administration, September 16, 2019 available online here; “Global Burden of 369 Diseases and Injuries in 204 Countries and Territories, 1990-2019: A Systematic Analysis for the Global Burden of Disease Study 2019,” Global Health Metrics, October 17, 2020 available online here; “The Medical Device CRO Market is Projected to Reach USD 15.7 Billion by 2030, Growing at an Annualized Rate of 6.4%, Claims Roots Analysis,” CISION PR Newswire, June 23, 2020 available online here.
Image source: Ulrike Leone, “pacemaker-cardiac-pacemaker-1943662,” Pixabay, January 3, 2017 available online here.

Smart Pills

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We have smartphones, smart speakers and even smart homes. Why not smart pills?

Those of us of a certain age remember the Jetsons Peek-a-Boo Prober Capsules. A form of this went from science fiction to reality in 2014 when the U.S. Food and Drug Administration (FDA) approved the PillCam. It’s a pill-sized camera that the patient swallows. It makes its way through the digestive system in about 8 hours taking pictures. The data is then sent to a receiver the patient wears around his or her waist. Later, a doctor can review the results. This type of pill is meant to be an alternative to a colonoscopy or endoscopy.

Another type of smart pill has an indigestible sensor built into the pill that monitors when a patient takes a dose. The sensor is activated when it comes in contact with stomach fluid. It sends a message to a wearable patch which in turn sends a message to an app on a patient’s smartphone. If the patient allows, the information can be sent to the patient’s doctor. Smart pills of this sort are created with the purpose of making it easier for patients to remember to take their medications and to let doctors know if their patients are complying.

In the United States, up to 50% of people do not take their medication as prescribed. In developing countries, adherence is even less. Medication nonadherence can account for up to 50% of treatment failures. According to the Office of the United States Inspector General, 125,000 deaths from cardiovascular diseases such as heart attack and stroke are caused by nonadherence to long-term drug therapies. Also, up to 23% of admissions to nursing homes, 10% of hospital admissions and many doctors’ visits, diagnostic tests and treatments are due to nonadherence. An estimated $100 to $300 billion in healthcare costs can be saved annually if medication adherence rates were higher. “Adherence rates of 80% or more are needed for optimal therapeutic efficacy.”1

In November 2017 the FDA approved the first drug with a digital ingestion tracking system, Abilify MyCite, a medication used to treat bipolar disorder and schizophrenia. Those who have schizophrenia have one of the highest medication noncompliance rates on average. However, some argue that suggesting people with schizophrenia swallow a digital pill that will send signals outside their body will only worsen their condition, especially for those who already experience paranoia or persistent feelings about being watched or persecuted. Others like Mitchell Mathis, M.D., director of the Division of Psychiatry Products in the FDA’s Center for Drug Evaluation and Research state: “Being able to track ingestion of medications prescribed for mental illness may be useful for some patients.” Regardless, according to the FDA, “Abilify MyCite’s prescribing information notes that the ability of the product to improve patient compliance with their treatment regimen has not been shown. Abilify MyCite should not be used to track drug ingestion in ‘real-time’ or during an emergency because detection may be delayed or may not occur.” Abilify MyCite retails for, in some cases, twice the amount of the generic, non-digital equivalent.

Since the advent of this drug, smart pills have been designed for conditions such as uncontrolled hypertension, type-2 diabetes, and more recently cancer. According to a research study by Proteus Digital Health, the manufacturer of the drugs, those taking smart pills for uncontrolled hypertension and type 2 diabetes had better results when compared to people taking standard therapies.

Today’s market size shows the global smart pill revenue figures for 2016, 2018 and projected for 2025. As of 2016, more than 75% of smart pill revenue came from capsule endoscopy versus less than 25% for drug delivery. North America led the world in the share of smart pill revenue with 57.1%. North America is expected to continue its lead into the future due to technological advances in the healthcare sector, increases in the incidence of colorectal cancer and regulatory approval of new products. Major companies include Medtronic PLC; Proteus Digital Health; CapsoVision, Inc.; Olympus Corporation; and Medisafe. In December 2019, etectRx received FDA approval for its ID-Capsule system to compete with Proteus’s system. etectRx’s system has a lanyard rather than a wearable patch.

1 Source: Jennifer Kim, et. al., “Medication Adherence: The Elephant in the Room,” U.S. Pharmacist, January 19, 2018 available online here

Geographic reference: World
Year: 2016, 2018 and 2025
Market size: $779.4 million, $850 million and $1.5 billion, respectively
Sources: “Smart Pills Market Analysis by Application (Products [Capsule Endoscopy, Drug Delivery], Tools, and Patient Monitoring Software), by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), and Segment Forecasts, 2018 – 2025,” Grand View Research Report Summary, December 2017 available online here; “Smart Pills Market by Component (Smart Pills and Workstations), by Application (Imaging and Monitoring), and by End-User (Hospitals, Clinics, Research Institutes, and Home Healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025,” Zion Market Research, June 7, 2019 available online here; Matt Novak, “George Jetson Gets a Check-Up,” Smithsonian Magazine, January 2, 2013 available online here; “The FDA Approved a PillCam the Jetsons Predicted 50 Years Ago,” Paleofuture, February 7, 2014 available online here; Adherence to Long-Term Therapies, World Health Organization, 2003 available online here; Jennifer Kim, et. al., “Medication Adherence: The Elephant in the Room,” U.S. Pharmacist, January 19, 2018 available online here; Michael Rucker, “Digital Pills are Coming to Health Care,” Verywell Health, December 6, 2019 available online here; “FDA Approves Pill with Sensor That Digitally Tracks If Patients Have Ingested Their Medication,” FDA News Release, November 13, 2017 available online here; Erin Brodwin, “A Silicon Valley Company Just Launched ‘Smart’ Cancer Pills That Track You With Tiny Sensors Stamped Into Your Medication,” Business Insider, January 19, 2019 available online here; Sam Draper, “How Smart Pills Could Revolutionize Healthcare,” Wearable Technologies, May 23, 2018 available online here; Elise Reuter, “New ‘Smart Pill’ Maker Gains FDA Approval,” MedCity News, December 9, 2019 available online here; Richard Staines, “FDA Approves etectRx ‘digital pill’ as Rivals Struggle,” Pharmaphorum, December 10, 2019 available online here; “Abilify,” GoodRx available online here; Christina Farr, “Digital Health Start-Up Once Worth $1.5 Billion is Racing to Keep Lights on as Investors Flee,” CNBC, December 8, 2019 available online here.
Image source: Steve Buissinne, “medicine-pills-prescription-4097308,” PIxabay, April 2, 2019 available online here. Picture does not show smart pills. Image is used for illustration purposes only. See the picture in the MedCity News source for a picture of one type of smart pill.

Polyaryletherketone

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Plastic polymer granules

Polyaryletherketone, or PAEK, is a group of thermoplastics that is strong, flexible, and durable. These thermoplastics are resistant to corrosion and do not break down when sterilized. They can be machined and are versatile for many applications in the oil and gas, electrical and electronics, aerospace, automotive and medical industries. Seals, valves, and bearings for oil drilling; surgical implants; chemical pumps; and automotive gears are some of the applications for various forms of PAEK.

Three types of PAEK thermoplastics are polyetheretherketone (PEEK), polyetherketone (PEK), and polyetherketoneketone (PEKK). PEEK thermoplastics are used as a replacement for metal in high temperature and high wear applications. Depending on the use, glass or carbon fillers are added to PEEK to increase its strength and thermal stability. Unfilled PEEK has low smoke and toxic gas emissions when burned. As a result, it’s often used in airplane interiors. PEEK is also used to manufacture items such as bearings, piston parts, and electrical cable insulation. Increasingly, it’s being used for spinal fusion devices and reinforcing rods.

PEK thermoplastics are used for components that need to retain their strength when exposed to high temperatures over long periods. Gears, shafts, bushes, bearings, and miniature rotational precision parts in the aerospace and automotive industries are some of the end uses for PEK.

PEKK, like PEEK, lends itself to uses in 3D printing applications. However, PEKK has 80% more compression strength than PEEK and is naturally antibacterial. Because of its antibacterial properties, its osteoconductivity properties allowing for bone growth and its radiolucent properties compatible with MRI machines, this material is used in patient-specific 3D-printed implants. Oxford Performance Materials, Inc. received U.S. Food and Drug Administration approval for its PEKK cranial and fascial implants in 2013 and 2014, respectively. In 2019, this company obtained a license to sell its PEKK implants in various countries throughout Asia. PEKK, like other PAEK thermoplastics, is used in end-market industrial components also.

Today’s market size shows the expected total global revenue for PAEK thermoplastics in 2019 and 2024. In 2018, PEEK had the highest market share. Demand for PEEK is expected to increase during this time due to increased demand from the oil and gas, electrical and electronics and medical industries. Worldwide, the APAC region is projected to have the highest market share, 41%, followed by North America (30%), and Europe (10%). Some leading providers of PAEK products include Victrex PLC, Solvay, Evonik Industries AG, Arkema SA, Celanese Corporation, Gharda Chemicals Ltd., and Panjin Zhongrun High-Performance Polymers Co. Ltd.

Geographic reference: World
Year: 2019 and 2024
Market size: $851 million and $1.15 billion, respectively
Sources: “The PAEK Market Size is Expected to Grow from USD 851 Million in 2019 to USD 1,149 Million by 2024, at a CAGR of 6.2%,” Olean Times Herald, October 23, 2019 available online here; “PAEK Market by Type (PEK, PEEK, PEKK), Fillers (Glass Filled, Carbon Filled, Unfilled), Application (Oil & Gas, Electricals & Electronics, Automotive, Medical, Aerospace), Region (APAC, Europe, North America, South America, MEA) – Global Forecast to 2024,” Marketresearch.com Report Description, October 2019 available online here; “Polyaryletherketone,” Wikipedia, November 25, 2017 available online here; Andy Pye, “Operating at PAEK Performance: An Overview of Polyaryletherketones,” Prospector, February 10, 2017 available online here; “PEEK (Polyetheretherketone),” Performance Plastics available online here; “PEEK vs. PEK vs. PTFE,” Greene Tweed available online here; Marco, “All You Need to Know About PEKK,” 3devo, June 28, 2017 available online here; Daphne Allen, “3D Printer of PEKK Implants Expanding in Asia,” MD+DI, July 20, 2018 available online here.
Image source: feiern1, “plastic-polymer-granules-1061731,” Pixabay, November 25, 2015 available online here. Picture is of plastic polymer granules, not PAEK thermoplastic granules.

Hearables

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hearables

Do you own a smartphone? A smartwatch? Smart earbuds?

Hearables are wireless in-ear devices such as hearing aids, personal sound amplifiers, or earbuds, but instead of just amplifying or transmitting sound, they also sync with a smartphone or other smart device to allow the user to make phone calls, play music, or search the internet via voice, hands-free. Some of these devices are also able to monitor a person’s temperature, heart rate and calories burned, and track their steps. Smart hearing aids sync with smartphone apps in order to allow the user to adjust volume and tone and in some cases turn their hearing aids into headphones for phone calls and audio streaming.

Today’s market size shows worldwide hearable unit sales in 2018 and projected for 2020. In 2016, hearing aid revenue constituted the largest segment of the global hearables market. According to the World Health Organization, more than 5% of the world’s population suffers from hearing loss. Supported by a strong distribution network and audiologists who are increasingly recommending digitally programmable, customized smart hearing aids, demand for these devices is expected to grow through 2023.

In the United States, in August 2017, President Donald Trump signed into law the Over The Counter Hearing Aid Act. This law requires the Food and Drug Administration to regulate over-the-counter hearing aids to ensure they meet the same standards for safety, consumer labeling, and manufacturing that all other medical devices must meet. These regulations must be in place by August 2020. These types of hearing aids will be approved to treat mild to moderate hearing loss in adults. Those with hearing loss will not be required to visit an audiologist or another medical professional to obtain one. Although there are no over-the-counter hearing aid products on the market currently, once guidelines are in place this has the potential to expand the demand for smart hearing aids dramatically. An estimated 38 million Americans have untreated hearing loss.

On December 13, 2016, Apple released the first generation of AirPods, wireless Bluetooth earbuds that allowed users to make phone calls and interact with Apple’s digital assistant Siri. The newest generation of Apple AirPods, released in 2019, along with similar earbuds from other tech companies are expected to drive growth. In 2018, Apple sold an estimated 35 million AirPods, constituting 76% of the market. According to Counterpoint Research’s Consumer Lens study, in the United States, Apple was the preferred brand among consumers (19%), followed by Sony (17%), Samsung (16%), Bose (10%), and Beats (6%).

Geographic reference: World
Year: 2018 and 2020
Market size: 46 million and 129 million, respectively
Sources: Liz Lee, “True Wireless Hearables Sales to Climb to 129 Million Units Globally by 2020,” Counterpoint Press Release, March 15, 2019 available online here; Lindsey Banks, Au.D., “The Complete Guide to Hearable Technology in 2019,” Everyday Hearing, February 22, 2019 available online here; Lindsey Banks, Au.D., “The FIRST Made for iPhone Hearing Aids,” Everyday Hearing, July 2, 2016 available online here; “Hearable Devices Market Worth 23.24 Billion USD by 2023,” MarketsandMarkets Press Release, July 2017 available online here; “President Trump Signs OTC Hearing Aid Legislation into Law,” The Hearing Review, August 19, 2017 available online here; N.S. Reed, et. al., “Trends in Health Care Costs and Utilization Associated With Untreated Hearing Loss Over 10 Years,” JAMA Otolaryngology – Head Neck Surgery, U.S. National Library of Medicine, National Institutes of Health, November 8, 2018 available online here; “AirPods,” Wikipedia, April 8, 2019 available online here.
Original source: Counterpoint Research’s Emerging Technology Opportunities service.
Image source: Nicolas Sadoc [CC BY-SA 4.0], via Wikimedia Commons. Use of image does not constitute endorsement.

Smart Wearable Healthcare Market

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fitbit-imgThe market for smart wearable healthcare devices is one part of the larger smart wearables market as a whole. The term wearables is used to refer to any electronic device, usually small, that can be worn relatively easily during the normal activities of life. Examples include wristbands such as the Fitbit, smart watches, clip on devices like pedometers and even clothing into which sensors have been sewn.

Smart wearable healthcare devices are those that are specifically designed to help a person monitor his or her own health—activity level, hours of sleep, heart rate, temperature, blood pressure, etc.—as well as devices designed to communicate remotely with medical providers so that they may monitor a patient from afar.

Geographic reference: United States
Year: 2014 and forecasted for 2020
Market size: $2 billion and $41 billion respectively
Source: “Healthy Beats — With Health Being the ‘Great Motivator,’ Wearables Are Gaining Popularity,” Corp! Sept./Oct. 2016, pages 36-39.
Original source: Soreon Research

Hearing Aids and Instruments

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The market for hearing aids is on a growth path as the population in the industrialized world ages. Demographics point in one direction for this industry, up. The rising costs of health care generally are of some concern to this industry because it suggests that changes are coming in how medical insurance systems will handle reimbursements for such devices. Demand, however, is expected to rise.

Today’s market size is the estimated number of hearing instruments sold around the world each year, based on figures for 2011. The number of units sold does not include Cochlear implants nor Middle-Ear implants, rather it refers to hearing aid devices that do not require surgical implantation.

Geographic reference: World
Year: 2011
Market size: 10 million units valued at $6.5 billion, which includes hardware only.
Source: “Hearing Loss Treatment Market Profile,” Hearing Instruments: Hearing Loss = Profits, May 24, 2012, page 32, Cheuvreux–Credit Agricole Group. This investment report is available online here.
Original source: CA Cheuvreux
Posted on July 3, 2013

The Sleep Business

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In 2012, approximately three-fourths of internet users searched online for health information. Half of them searched specifically for sleep remedies. According to the National Sleep Foundation, only 56% of Americans report getting a “good night’s sleep” on a typical night. Some sleep studies have found a link between insufficient sleep and hypertension, depression, diabetes, and other illnesses. Spending related to sleep has increased 8.8% yearly since 2008. Spending on over-the-counter sleep aids increased 31% from 2006 to 2011, with the biggest increase being spending on natural and homeopathic products.

Today’s market size is the estimated amount spent in the United States, in 2012, on things designed to aid sleep, from pills and medical devices to sleep consultants who work with hospitals and deluxe mattresses made with tension-relieving foams.

Wishing all our readers a sound night’s sleep!

Geographic reference: United States
Year: 2012
Market size: $32 billion
Source: Kit Yarrow, “The Sleep Industry: Why We’re Paying Big Bucks for Something That’s Free,” Time, January 28, 2013, available online here.
Posted on March 1, 2013

MHealth

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The term “mHealth” is one being used to help define a category of medical services and devices and a growing part of the healthcare industry. It stands most simply for mobile health care, more fully “emerging mobile communications and network technology for healthcare.”

This market encompasses the use of mobile technology in the service of providing health care. It includes all those applications which combine body sensors with mobile or static devices designed to monitor a patient’s vital signs or some specific bodily function. The infrastructure behind these devices is also part of the category. An example of such a device is an electrode patch which may be worn by a patient and automatically sends the monitoring center information about the patient while he or she is on-the-go. The information is sent by a tiny radio transmitter built into the epidermal electronic device.

Today’s market size is the estimated size of the market for mHealth products in 2010 and a forecast for the size in 2014. Please note, however, that this market has yet to be well defined and as a result various research firms have come up with widely disparate projections of its size. The source listed below provides a link to an article explaining this problem more fully, titled “mHealth predictions: $1.9B, $4.4B, $4.6B?” Defining the market is key!

Geographic reference: United States
Year: 2010 and a forecast for 2014
Market size: $1.5 and $4.6 billion respectively
Source: “Market Size Projections for mHealth and Wireless Health,” Wireless Health Strategies, March 19, 2010, available online here.
Original source: CSMG, a division of TMBG Global
Posted on September 06, 2011

Medical Equipment Wholesalers

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All week we have been looking at wholesale industries that are in decline, either because the products in which they deal are in decline or because of more structural changes in the overall distribution of some products. For a change of pace, today we look at one of the wholesale industries that has been doing extremely well over the last decade, and one not associated with the housing bubble, which temporarily lifted many boats.

The figures below are for the industry defined by the Census Bureau as: “…establishments primarily engaged in the merchant wholesale distribution of professional medical equipment, instruments, and supplies (except ophthalmic equipment and instruments and goods used by ophthalmologists, optometrists, and opticians).” [NAICS 42-3450] As an aside, the wholesalers of ophthalmic equipment have also been doing quite well, as have most U.S. industries involved with the delivery of products and equipment used in the delivery of health care services generally.

Geographic reference: United States
Year: 1997 and 2007
Market size: Number of Establishments: 9,782 and 8,478 respectively.
Market size: Sales: $58.79 and $134.59 billion respectively.
Market size: Employment: 121,572 and 181,685 respectively.
Source: “Sector 42: EC0742I2: Wholesale Trade: Industry Series: Preliminary Comparative Statistics for the United States (2002 NAICS Basis): 2007 and 2002,” 2007 Economic Census, available online here. The data from 1997 are from the 1997 Economic Census, after conversion of the data to a NAICS 2002 basis.
Original source: U.S. Department of Commerce, Bureau of the Census.

Dialysis Market

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This market size represents the number of tax dollars spent to care for those on dialysis every year in the United States. In October 1972, Congress made revisions to the Social Security Act so that anyone diagnosed with kidney failure, regardless of age or income, would have comprehensive coverage under Medicare.

Initially, before guaranteed payments from Medicare, hospitals provided most of the care on a nonprofit basis, albeit on a limited basis. In 2010, 80 percent of the clinics offering dialysis were for-profit, with two-thirds of those operated by two chains: DaVita Incorporated (based in Colorado) and Fresenius Medical Care North America (a subsidiary of a German company that makes dialysis machines and supplies). Together these two companies make $2 billion in operating profits per year. More than 100,000 people start dialysis each year in the United States. In 2010, there were nearly 400,000 patients receiving dialysis.

Geographic reference: United States
Year: 2010
Market size: $20 billion
Source: Robin Fields, “God Help You. You’re On Dialysis,” The Atlantic, December 2010, pages 82-92.

Diagnostic Imaging Services

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The increased use of electronic machinery for medical diagnosing has given us more accurate diagnostic tools, tools which can often be used instead of more invasive surgical intervention. Diagnostic imaging centers are at the center of the medical services industry. Revenues earned by diagnostic imaging centers grew by 200% between 1997 and 2007, an annual growth rate of 18.1%. By way of comparison, the inflation rate over this period averaged 2.6% annually.

The activities which fall under the umbrella term “diagnostic imaging” include four major types of scans: 1. Radiological (x-rays); 2. Computer Tomography (CT); 3. Magnetic Resonance Imaging (MRI), and 4. Ultrasound. Worth noting is the fact that the term also refers to the activities undertaken by physicians, now and throughout history, when they used their tactile sense, feeling an area of the body in order to visualize the condition of internal organs. The services offered at diagnostic imaging centers do not include this most basic form of diagnostic imaging.

Geographic reference: United States
Year: 1997 and 2007
Market size: $5.87 billion and $17.58 billion in annual receipts respectively
Source: “2007 Economic Census: Sector 62: Health Care and Social Assistance Programs: Preliminary Comparative Statistics for the United States 2007 and 2002,” March 26, 2010, available online here. Data for 1997 are from a report by the same title in the “1997 Economic Census” series.
Original source: U.S. Bureau of the Census

Automatic Patient Lift Equipment Market

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The United States represents almost half (45.4%) of the world demand for this sort of hospital equipment, followed by the United Kingdom with 18.6%, Germany with 11.3% and France with 6.2%. Companies in the business of producing this equipment, among their offerings, include Arjo/Huntleigh, Joerns, Invacare, Stryker, and HRC.

Geographic reference: World
Year: 2009
Market size: $490 million
Source: Gregory N. Miller, “Jeffries 3rd Annual Healthcare Conference,” June 17, 2009
Original source: Hill-Rom Services Inc.

Cardiac Arrhythmia Monitor Market

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In the IDTF sector (Independent Diagnostic Testing Facilities), CardioNet controlled 25% of the market, LifeWatch 20%, and Raytel 9%. Approximately 300 firms composed the remaining 46% of the market.

Geographic reference: United States
Year: 2008
Market size: $2 billion
Source: Lifewatch: Watching Life Second Quarter 2009, July 29, 2009
Original source: Frost and Sullivan