Global Patient Monitoring Device/System/Equipment Market, By Product (Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Multi-parameter Monitoring Devices, Fetal Monitoring Devices, Neonatal Monitoring Devices, Hemodynamic Monitoring Devices, Temperature Monitoring Devices, Weight Monitoring Devices), End-User (Hospitals, Clinics, Ambulatory Care, Home Cares),Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends & Forecast to 2025
Market Analysis: Global Patient Monitoring Device/System/Equipment Market
Patient Monitoring devices continue their upward trend due to the rising preference of home cares, and remote monitoring. This trend will help establish the global patient monitoring device/system/equipment market with a CAGR of 6.5% in the forecast period of 2018-2025, where it will rise from its initial estimated value of USD 17.37 billion in 2017 to USD 28.74 billion in 2025.
Market Definition: Global Patient Monitoring Device/System/Equipment Market
Patient monitoring device/system/equipment are those devices that are used to monitor or diagnose the patient’s conditions and symptoms wirelessly or wired. These devices help monitor the condition remotely and help in keeping the patients status monitored continuously.
These devices are a crucial part of healthcare infrastructure as they help monitor the patients’ status and measure the conditions severity.
The market has developed and advanced over the recent years and the patients can be monitored online and their reports are available remotely.
Asia-Pacific region is set to witness the highest growth rate of all the regions in the forecast period, whereas North America holds the highest market share.
- These devices help steadily monitor the patients’ health and helps identify the severity of the disease
- Growing preference given to home care is also driving this industry due to the demand for remote monitoring devices required for proper home care
- High cost of this technology is one of the major factor currently hindering the market growth of the industry
- With stringent government regulations regarding these devices is also one of the major factors halting the market growth
Segmentation: Global Patient Monitoring Device/System/Equipment Market
- By Product
- Cardiac Monitoring Devices
- Electrocardiography (ECG) Devices
- Implantable Loop Recorders
- Cardiac Output Monitors
- Event Monitors
- Smart Wearable Electrocardiography (ECG) Monitors
- Neuromonitoring Devices
- Electroencephalography Machines
- Electromyography Machines
- Intracranial Pressure Monitors
- Magnetoencephalography Machines
- Transcranial Doppler Machines
- Cerebral Oximeters
- Respiratory Monitoring Devices
- Pulse Oximeters
- Peak Flow Meters
- Multi-parameter Monitoring Devices
- Low-acuity Monitors
- Mid-acuity Monitors
- High-acuity Monitors
- Fetal Monitoring Devices
- Neonatal Monitoring Devices
- Hemodynamic Monitoring Devices
- Temperature Monitoring Devices
- Temperature Strips
- Weight Monitoring Devices
- Cardiac Monitoring Devices
- By End-User
- Ambulatory Care
- Home Care
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In November, 2017 Telcare LLC. a division of BioTelemetry Inc. announced that it entered into a strategic collaboration with Onduo LLC. The agreement states that Telcare LLC. will serve as a supplier of remote blood glucose measurement systems for Onduo’s diabetes programs.
- In July, 2017 BioTelemetry Inc. acquired LifeWatch which will help BioTelemetry Inc. enhance its position in remote cardiac monitoring and diagnosis market.
Competitive Analysis: Global Patient Monitoring Device/System/Equipment Market
The global patient monitoring device/system/equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Patient Monitoring Device/System/Equipment Market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Patient Monitoring Device/System/Equipment Market
BioTelemetry Inc., Onduo LLC., Medtronic, Compumedics Limited, NIHON KOHDEN CORPORATION, Natus Medical Incorporated, GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., Abbott, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, OMRON Corporation, Honeywell International Inc., Masimo, Johnson & Johnson Services Inc., Care Innovations LLC., Smiths Group plc, Drägerwerk AG & Co. KGaA, SunTech Medical Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., and CONTEC MEDICAL SYSTEMS CO. LTD. are few of the major market competitors currently operating in the market.
Key Insights in the report:
- The key market players are analyzed and their effects on the market is also observed
- Market analysis is conducted for the forecast period of 2018 to 2025, and the market segmentations are observed during that period
- The market drivers and restraints have been clearly analyzed for the effect that they have over the market in the forecast period of 2018 to 2025