U.S. Sales of Networked Medical Devices to Top 14 Million Units By 2018

Market research firm Parks Associates is forecasting unit sales of networked medical devices of more than 14 million by 2018, a greater than fivefold increase over 2012. A total of 3.5 million units, or $890 million, of the devices — which include weight scales, pulse oximeters, glucometers, insulin pumps, blood pressure monitors, diagnostic ECGs, sleep apnea test devices and home INR tests — were sold in 2013.

Dallas-based Parks looked at differences between retail and clinical distribution channels, using consumer survey data on adoption and purchase motivation to build a demand-oriented forecast model for retail devices such as weight scales. Predictive trends for prescription products like INR test kits took into account such factors as channel-fill needs, disease prevalence and device reimbursement potential.

The report notes that networking technologies like WiFi and Bluetooth have the capacity to turn many prescription devices that are used outside the hospital into over-the-counter products, thus widening the market for manufacturers.

An aging population and reforms brought about by the 2010 Affordable Care Act may also expand the use of networked medical devices, since insured individuals are more likely than the uninsured to such devices to share data electronically with a doctor, the report says. — Lena Freund

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