Patient Monitoring Devices Market: Market Segments: By Type (Hemodynamic Monitoring, Neuromonitoring, Cardiac Monitoring, Fetal & Neonatal Monitoring, Respiratory Monitoring, Multi-Parameter Monitoring, Remote Patient Monitoring, Weigh Monitoring, And Temperature Monitoring Devices); By End User (Hospitals & Clinics, Home Settings, and Ambulatory Surgical Centers); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Patient monitoring devices are a technology used to collect and electronically transmit medical and health-related data from individuals at one location to a healthcare provider at another location. Patient monitoring equipment continuously tracks patient’s vital health signs, such as respiratory rate, heart rate, and rhythm, blood pressure, saturation of blood oxygen, and many other parameters.
Patient Monitoring Devices Market is expected to project a notable CAGR of 6.2% in 2030.
Patient Monitoring Devices Market to surpass USD 60.3 Billion by 2030 from USD 20.2 billion in 2018 in terms of value growing at a CAGR of 6.2% throughout the forecast period, i.e., 2019-30. A key trend in patient care is the integration of monitoring technologies into smartphones and wireless devices, leading to the introduction of remote monitoring systems, mobile cardiac telemetry devices, mobile personal digital assistant (PDA) systems, outpatient wireless EEG recorders and outpatient event monitors, which are key factors that support market growth.
Patient Monitoring Devices Market: Segments
Cardiac Monitoring Devices Segment to grow with the highest CAGR of XX.X% during 2019-30
Patient Monitoring Devices Market is segmented by type as hemodynamic monitoring, neuromonitoring, cardiac monitoring, fetal & neonatal monitoring, respiratory monitoring, multi-parameter monitoring, remote patient monitoring, weigh monitoring, and temperature monitoring devices. The cardiac monitoring devices segment is estimated to lead the market with a share of over 26.0% of in Patience monitoring device market in 2018 and this trend is expected to continue during the forecast period. This is attributed to an increase in the prevalence of different cardiovascular diseases throughout the world each year, such as congestive heart failure and stroke.
Patient Monitoring Devices Market: Market Dynamics
Rising Burden of Chronic Diseases
Chronic heart disease, diabetes, and chronic respiratory diseases are the world’s leading causes of mortality and morbidity. 75% of healthcare costs are accounted for by chronic care management. The rise in the prevalence of chronic circumstances places a huge financial burden on caregivers. It thus decreases readmissions and prevents hospitalizations that are avoidable.
Risk associated with invasive monitoring devices
Several risks are associated with the use of invasive monitoring systems, such as discomfort associated with the insertion of monitoring tools, such as pulmonary artery catheters (PAC). Some other major risks are air embolism, sepsis, bleeding / hematoma formation, cardiac arrhythmias, decreased distal limb circulation, haemorrhage, damage to the nerves (during insertion), thrombosis, air embolism, and pulmonary capillary necrosis. The mortality rate during invasive procedures is increased by these factors. Consequently, the risks mentioned above limit the use of invasive monitoring devices.
Patient Monitoring Devices Market: Regions
Patient Monitoring Devices Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Patient Monitoring Devices Market in North America led the market in 2018. The key factors supporting market growth in North America are increasing R&D to develop novel sensor-based patient monitoring systems, increasing infectious disease prevalence, safety concerns, and technological advances in patient monitoring device products. In addition, most of the world’s leading companies are headquartered in the region or have a strong presence in that market, another key factor that is attributed to the market’s significant growth. Europe, particularly Western European countries, is expected to remain the second most profitable region over the forecast period due to a higher mortality rate and rising demand for low-cost treatment. High-impact drivers for regional growth are increasing demand for in-house monitoring, supportive central data management systems and increasing the accuracy and efficiency of remote patient monitoring systems.
Patient Monitoring Devices Market: Key Players
• Abbott Laboratories
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Aerotel Medical Systems
• AMD Global Telemedicine
• Baxter International Inc.
• Boston Scientific Corporation
• GE Healthcare
• Masimo Corporation
• Medtronic PLC
• Omron Corporation
Patient Monitoring Devices Market report also contains analysis on:
Patient Monitoring Devices Market Segments:
• Hemodynamic Monitoring Devices
o Blood Glucose
o Blood Gas & Electrolyte Analyzers/Monitors
o Blood Pressure
• Neuromonitoring Devices
o Electroencephalograph (EEG) Devices
o Transcranial Dopplers (TCD)
o Magnetoencephalography (MEG) Devices
o Intracranial Pressure Monitors (ICP)
o Cerebral Oximeters
• Cardiac Monitoring Devices
o Electrocardiogram (ECG) Devices
o Holter Monitor
o Event Monitors
• Fetal & Neonatal Monitoring Devices
o Electronic Fetal Monitoring Devices
o Fetal Doppler Monitoring Devices
o Other Fetal & Neonatal Monitoring Devices
• Respiratory Monitoring Devices
o Sleep Apnea Monitor
o Pulse Oximeters
• Multiparameter Monitoring Devices
o High Acuity
o Mid Acuity
o Low Acuity
• Remote Patient Monitoring Devices
• Weight Monitoring Devices
• Temperature Monitoring Devices
By End User:
• Ambulatory Surgery Centers
• Home Care Settings
• Patient Monitoring Devices Market Dynamics
• Patient Monitoring Devices Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints