The Patient Monitoring Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Patient Monitoring Devices Market is estimated to be USD 19.91 billion in 2016 and predicted to rise to USD 26.15 billion by 2021 with a CAGR of 5.60%. The market is segmented by Product (Hemodynamic, Neurology, Cardiac, Respiratory, Fetal and Neonatal, Multiparameter, Remote Patient Monitors, Temperature and Weight Management Monitors) and End-User (Hospitals, Home). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The major factors influencing the growth of the market include increasing geriatric population, rising incidence of lifestyle diseases, growing preference for home and remote monitoring, and availability of easy-to-use and portable devices. This report also tracks and analyzes competitive developments of the key players in terms of market developments, product portfolios, and financials. Moreover, factors such as growing population size of the elderly, rising incidences of unhealthy lifestyle, and technological developments like portability of equipment is further going to aid the market growth.
The global Patient Monitoring Devices market is segmented on the basis of Product and End User. On the basis of Product, it is segmented into Hemodynamic, Neurology, Cardiac, Multiparameter, Remote Patient Monitors, Respiratory, Fetal and Neonatal, Temperature and Weight Management Monitors. Hemodynamic monitoring devices are further segmented into blood glucose, blood gas & electrolyte analyzer, and blood pressure monitors. Neuromonitoring devices are further segmented into electroencephalograph devices, magnetoencephalography devices, intracranial pressure monitors, transcranial Dopplers, and cerebral oximeters. Cardiac monitoring devices are further segmented into electrocardiogram devices, Holter monitors, event monitors, and others (implantable loop recorders, cardiac output monitoring devices, and others). Fetal & neonatal monitoring devices are further segmented into ultrasound devices, Electronic Fetal Monitoring devices (EFM), Fetal Doppler and Others. Respiratory monitoring devices are further segmented into capnograph, spirometer, sleep apnea monitor, and pulse oximeter. Multiparameter monitoring devices are further segmented into high, mid, and low acuity. The respiratory monitors' segment is also expected to grow at a high pace in the forecast period. This growth can be attributed to the rising incidences of obstructive sleep apnea and the rising alternate uses of capnography. The remote patient monitoring (RPM) devices segment is expected to grow at a fast pace majorly driven by government regulations to control the rising healthcare costs. The technological innovations and developments of products are contributing to the market growth of RPM devices. On the basis of End User, it is segmented into Hospitals and Home.
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America accounted for the highest share followed by Europe. The major growth factors contributing to the growth of the North America market are the aging population and lifestyle diseases that are further adding to the overall prevalence of chronic diseases. However, the growth of Europe is expected to be sluggish in the forecast period and is estimated to grow at a lower CAGR, due to factors such as uneven reimbursement policies, declining birth rates, and reduced number of beds in hospitals. Asia Pacific is the most promising region for patient monitoring devices in the coming five years. It is expected to grow at a higher CAGR over the forecast period. High population base and improved purchasing power of patients will be the major drivers of this market. In addition, the economic instability in the western countries enables the companies to focus on the Asia Pacific, Latin America and Middle East and Africa region in order to meet their revenue targets.
The market is dominated by companies like Abbott Laboratories, GE Healthcare, Nihon Kohden, Omron Healthcare, Philips Healthcare, Siemens Healthcare, Medtronic PLC, Honeywell International Inc., Infinium Medical and Roche Diagnostics Limited.
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