Patient Monitoring Device Market Poised to Grow at a CAGR of 5.8% by 2024
Global Patient Monitoring Devices Market, By Product (Blood Glucose, EEG, ECG, Capnography, Spirometer, Sleep Apnea, Pulse Oximeter, Fetal Doppler, Ultiparameter, Remote, Weight, Temperature), End-User (Hospitals & Clinics, Home healthcare, Ambulatory Surgical Centers), by Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
The patient monitoring devices market accounted to USD 20.2 billion in 2016 growing at a CAGR of 5.8% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Patient monitoring devices are the devices used for continuous/semi-continuous measurement of patient’s physiological parameters such as heart rate, respiratory rate, blood pressure, core temperatures and pulse oximetry to accelerate and enhance the patient care decisions. These devices are of great significance in emergency and operating rooms, intensive and critical care units by reducing complications and risks in patient. They are widely used in hospitals, clinics, home healthcare, and ambulatory surgical centers.
Major market drivers and restraints:
- Easy incorporation and increasing preference for home and remote monitoring
- Increase in prevalence of lifestyle diseases
- Rising disposable income and increasing healthcare expenditure
- Irregular reimbursement scenario
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Market Segmentation:
By product, the market for patient monitoring devices market is segmented into blood glucose, EEG, ECG, capnography, spirometer, sleep apnea, pulse oximeter, fetal doppler, ultiparameter, remote, weight, temperature. On the basis of end-user, the patient monitoring devices market is segmented into hospitals & clinics, home healthcare, ambulatory surgical centers.
On the basis of geography, patient monitoring devices market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Major Market Competitors:
Some of the major players operating in patient monitoring devices market are Abbott (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Siemens Healthcare GmbH (Germany), GE Healthcare (U.S.), Medtronic PLC (Ireland), Koninklijke Philips N.V. (The Netherlands), LifeWatch AG (Switzerland), Nihon Kohden Corporation (Japan), OMRON Corporation (Japan), Honeywell International Inc. (U.S.), Biotronik SE & CO. KG (Germany), among others.
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