Global Patient Monitoring Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Patient Monitoring Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global patient monitoring devices market report has been segmented on the basis of product, end user, and region.
Global Patient Monitoring Devices Market: Overview
There is a continuous increase in a patient suffering from various diseases across the globe. Monitoring devices support surgeons during surgeries they help in continuous measuring of parameters such as vital signs, blood glucose monitoring, etc.
Global Patient Monitoring Devices Market: Dynamics
Increasing incidences of chronic diseases across the globe, rising number of surgeries is resulting in demand for monitoring devices that help in monitoring patient’s physiological signs and related complications is a major factor expected to drive growth of the global patient monitoring devices market. In addition, rapid advancements in the electronics sector resulting in miniaturization of devices, coupled with manufacturers approach towards the development of advanced compact portable devices that aid in emergency situations is another factor expected to boost the market growth.
Moreover, with the advent of smart connected devices and availability of high speed of internet, increasing adoption of wireless devices from hospitals and clinics for remote monitoring is expected to positively impact the market growth. In addition, increasing government expenditure on the healthcare sector in order to facilitate the adoption of advanced devices is another factor expected to support market growth.
Rising geriatric population across the globe and preference for home healthcare is expected to increase adoption of smart wearables that are able to track and share monitored data with the healthcare practitioners are among other factors expected to support market growth.
However, high cost of some monitoring devices and technical glitch are major factors expected to limit the adoption of advanced monitoring devices which is a major restraint to the global patient monitoring devices market. In addition, stringent government regulations related to product approval and lack of developed infrastructure in developing countries are among other factors expected to challenge market growth.
Technological advancements by major players and approach towards tracking the untapped market in developing countries by strengthening the distribution channel are factors expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.
Global Patient Monitoring Devices Market: Region
The market in North America is expected to dominate in the global patient monitoring devices market and is expected to continue its dominance over the forecast period. This can be attributed to well-developed healthcare infrastructure in order to facilitate the adoption of advanced monitoring devices and the presence of major players operating in the countries in this region. In addition, growing merger and acquisition activities between regional and international players is expected to further support market growth in this region.
The market in Asia Pacific is expected to witness faster growth, owing to the increasing number of surgeries andthe presence of prominent players operating in emerging economies in this region. In addition, growing medical tourism in countries such as Malaysia and Singapore and increasing government spending in the healthcare sector in order to provide advanced healthcare services is expected to increase demand for patient monitoring devices.
Global Patient Monitoring Devices Market Segmentation
Segmentation by product
- Hemodynamic Monitoring Devices
- Neuromonitoring Devices
- Cardiac Monitoring Devices
- Fetal & Neonatal Monitoring Devices
- Respiratory Monitoring Devices
- Multiparameter Monitoring Devices
- Remote Patient Monitoring Devices
- Weight Monitoring Devices
- Temperature Monitoring Devices
- Urine Output Monitoring Devices
Segmentation by end user
- Hospitals & Clinics
- Home Settings
- Ambulatory Surgical Centers (ASC)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Medtronic, Inc.
- Biotronik, Inc.
- Hoffmann-La Roche Ltd.
- GE Healthcare Ltd.
- Masimo Corporation
- Nihon Kohden Corporation
- Johnson & Johnson
- Omron Healthcare Co. Ltd.
- Abbott Laboratories
- Koninklijke Philips N.V.
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