22 Oct Global growth of Patient Monitoring Devices Market
The global growth of Patient monitoring devices market
- The global patient monitoring devices market is segmented on the basis of product type, technology, application, geography and end-users
- The global patient monitoring devices market is expected to reach XX USD Mnby 2024 with a growing CAGR of XX% from 2018 to 2024
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
Patient monitoring devices are vastly used to measure patient health on a continuous/ regular basis. A digital-based technology with the accuracy which helps in early detection of the any disease leading to more efficient and specific treatment. The advantages of patient monitoring devices include accuracy of the results, quick results, and reduced cost of the test for further diagnosis. These devices are commonly used to measure pulse rate, body temperature, blood pressure, heart activity, etc.
The global patient monitoring devices market is driven by increase in the technological advancements such as wireless devices, the rise in prevalence of various diseases such as diabetes and hypertension which require lifelong monitoring, increase in geriatric population are anticipated to fuel the market growth. However, product recalls, lack of awareness in rural areas, a high cost of the devices, and lack of favorable reimbursement policies for medical devices are the key factors restrain the patient monitoring devices market growth.
The global patient monitoring devices market is divided into following categories-
- Product type
- Blood pressure monitors
- Blood glucose monitors
- Heart rate monitors
- Pulse oximeters
- Weight monitors
- Sleep apnea monitors
- Breath monitors
- Portable devices
- Standalone devices
- Wireless technology devices
- Cardiovascular conditions
- Neurological conditions
- Hematological conditions
- Respiratory conditions
- Physiological conditions
Hospitals, clinics, ambulatory surgical centers, home care settings and others.
And lastly, on the basis of geographical regions, the global patient care monitoring devices is divided into five major regions- Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
North America holds a significant share in the market owing to rise in the geriatric population prone to chronic diseases such as diabetes and cancer, increase in healthcare expenditure, and patent approvals for novel technologies in this region.
In Europe, due to high adoption of novel technologies and their advancements, etc. are propelling the market growth.
However, Asia Pacific exhibiting significant growth in the global market which is attributed to growing prevalence of chronic diseases, a rise in healthcare expenditure, and rise in per capita income are driving the patient monitoring devices market.
Some of the players in patient monitoring devices market are GE Healthcare (U.K.), Philips Healthcare (Netherlands), Roche Diagnostics Limited (Switzerland), Abbott Laboratories (U.S), Omron Healthcare (Japan), Cardinal Health (U.S.), and Medtronic (Ireland) to name a few. Some of the market development include Cardinal Health acquiring Medtronic’s patient monitoring and recovery division in 2017, for advancing its revenue in patient monitoring devices market.
Acquisitions and mergers, collaborations, product approvals, product launchings, and patent approvals are the strategies followed by the competitors for increasing their revenue in the patient monitoring devices market. For instance, in 2015, Zoll Medical Corporation acquired Kyma Medica Technology for broadening the product portfolio in cardiovascular monitoring devices.
Key Questions Answered
- What is the current and future patient monitoring devices market outlook worldwide? What trends are affecting the global market?
- What is the competitive landscape and market share of major players in the patient monitoring devices globally?
- What are the key, high growth markets that patient monitoring devices manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the patient monitoring devices currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of patient monitoring devices?
- What are the challenges and barriers that have hindered widespread adoption of patient monitoring devices?
Reasons to buy patient monitoring devices market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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