Global Medical Devices Market with Focus on Patient Monitoring Devices Market: Size, Trends and Forecasts (2019-2023)
Scope of the Report
The report titled “Global Medical Devices Market with Focus on Patient Monitoring Devices Market: Size, Trends and Forecasts (2019-2023)”, provides an in-depth analysis of the global medical devices market by value, by segments, by region, etc. and the global patient monitoring devices market by value, by product, by region, etc. The report also provides a regional analysis of the patient monitoring devices market, including the following regions: North America (the US & Canada), Europe, Asia pacific (China, India & Rest of Asia Pacific), Latin America (Brazil & Rest of Latin America) and Middle East and Africa.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall patient monitoring devices has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Patient monitoring devices is highly fragmented with many market players operating worldwide. Some patient monitoring devices market players operating on a local level while other players operating on a regional and global level. The manufacturers of patient monitoring devices produce different types of monitoring devices for different applications.
Further, key players of the market are Medtronic plc, General electric Company (GE Healthcare), Abbott Laboratories, and Koninklijke Philips N.V. (Philips Healthcare) are profiled with their financial information and respective business strategies.
Middle East & Africa
General Electric Company (GE Healthcare)
Koninklijke Philips N.V. (Philips Healthcare)
A medical device refers to any instrument or machine, which is required to be used for the treatment, cure, prevention or diagnosis of different kinds of diseases. The main purpose of the medical devices is to help the healthcare professionals in improving the way they diagnose patients or to help patients overcome sickness or diseases.
Medical devices can be segmented on the basis of application, which include orthopedics, minimally invasive, cardiology, ophthalmology, wound care, patient monitoring, audiology, respiratory-anesthesia, uro-gynecology, neurology, aesthetics, robotics-navigation and others.
Patient monitoring devices are those devices that are used for monitoring patient’s conditions, such as blood pressure, heart rate, diabetes, respiratory rate, pulse, body temperature, oxygen saturation in human blood, etc. Nowadays, the two types of patient monitoring devices are commonly used, which are: Single Parameter Patient Monitoring Devices and Multi-Parameter Patient Monitoring Devices.
The patient monitoring devices market can be segmented on the basis of product (Vital Sign Monitors & Special Monitors); Application (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management and Fitness Monitoring and Other Applications) and End-user (Home Healthcare, Ambulatory Care Centers, Hospitals and Other End Users).
The global Patient monitoring devices market has increased at a significant CAGR during the years 2014-2018 and projections are made that the market would rise in the next four years i.e. 2019-2023 tremendously. The market is expected to increase due to growing geriatric population, rapid urbanization, growing incidence of chronic diseases, increasing healthcare spending, etc. Yet the market faces some challenges such as high cost involved, stringent government regulations, etc.