The Patient Monitoring 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 Market is estimated to be $16.9 billion USD and predicted to rise to $ 24.26 billion USD with a CAGR of 7.5%. The market is segmented by application (Neurology, Hemodynamic, Cardiac, Fetal and neonatal, Respiratory, Multi-parameter Remote patient monitors, Temperature, Weight management). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa
Increasing aged population and rising incidence of unhealthy lifestyle are the major driving factors of the Patient Monitoring Market. Technological developments like portability of the device and government regulations to control rising healthcare costs are also in the growth of the market. On the other side increasing patient privacy concerns & lack of proper reimbursements policies and the high cost of Remote Patient Monitoring systems are inhibiting the growth of the market.
Cardiac monitoring segment accounted for the largest share in 2015 and expected to maintain its strong hold in the forecast period due to increasing demand for electro cardiograph devices and increased rate of cardiac and other co-morbid diseases such as diabetes and high blood pressure. Respiratory monitoring devices and neurological monitors is estimated to be the fastest growing segment during the forecast period due to rising incidence of respiratory and neuro-degenerative diseases and demand for portable devices.
North America accounted for the highest share owing to the increasing number of aging population and lifestyle diseases that are further adding to the overall prevalence of chronic diseases. Asia-Pacific region is the most promising region for patient monitoring in the coming years due to its high population base and increasing purchasing power of the patients
Some of the major companies that are competing in the global patient monitoring market are Covidien, Abbott Laboratories, Drager, Medical GmbH, GE Healthcare, Johnson & Johnson Inc., Masimo Corporation, Mortara Instrument Inc., Mindray Medical, Natus, Nihon Kohden ,Nonin Medical, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited and Welch Allyn.
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