Patient Monitoring Devices Market by Product (EEG, MEG, TCD, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitoring, MCOT, ECG, ICP, ILRs, Blood Glucose Monitoring, Blood Pressure Monitor), End-User (Hospitals, ASCs) - Global Forecast to 2025
The patient monitoring devices market is projected to reach USD 55.1 billion by 2025 from USD 36.4 billion in 2020, at a CAGR of 8.6% during the forecast period. Growth of the market is mainly attributed to the technological advancements; increasing incidences of infectious diseases, and growing public and private investments, funding, and grants are driving the globalpatient monitoring devices market.However, complex regulatory frameworks that delay the approval of new patient monitoring devices is expected to challenge market growth to a certain extent.
“In terms of products, blood glucose monitoring systems segment to register significant growth during the forecast period.”
Based on the product, the patient monitoring devices market is segmented into blood glucose monitoring systems, cardiac monitoring devices, multiparameter monitoring devices, respiratory monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, fetal and neonatal monitoring devices, neuromonitoring devices, weight monitoring devices and other patient monitoring devices. Significant growth of the segment is attributed to the ongoing product approval of continuous glucose monitoring systems, advantages offered by continuous glucose monitoring systemsover self-monitoring blood glucose systems, and technological advancements in the market. Continuous glucose monitoring systemsoffer a wide range of advantages over self-monitoring blood glucose systems, such as reduced cost, shortened detection time, and non-invasive detection. These advantages offered by the continuous glucose monitoring systems have led to the growth of this segment.
“hospitals segment is expected to account for the largest share of the patient monitoring devices market, by the end user” `
On the basis of end-users, the patient monitoring devices market has been segmented into hospitals, ambulatory surgery centers, home care settings and other end users. The growth of this segment is attributed to the significant number of availability of state-of-the-art facilities for diagnosis, treatment, and disease management, as well as trained personnel, has ensured a steady demand for hospital-based care and the growing number of hospitals across major markets. The inflow of patients is considerably higher in hospitals as compared to other healthcare settings, which is another key driver for market growth. More screening and diagnostic procedures are conducted in hospitals than in other medical facilities, contributing to the large share of this end-user segment.
“Asia Pacific marketis expected to grow at the highest CAGR during the forecast period.”
The Asia Pacific market isestimated to grow at the highestCAGR during the forecast period majorly due to the heavy burden of infectious diseases, rising healthcare expenditure, and increasing geriatric population. Apart from this, the rising number of hospitals and ambulatory surgical centers in the APAC region is expected to propel the market for patient monitoring devices.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type:Tier 1–45%, Tier 2–34%, and Tier 3– 21%
By Designation: C-level–47%, Director-level–33%, and Others–20%
By Region:North America–35%, Europe–32%, Asia Pacific–25%, Latin America–6%, and the Middle East & Africa–2%
Some of the prominent players in the patient monitoring devices market include Abbott Laboratories (US), HILL-ROM HOLDINGS, INC. (US), Drägerwerk AG & Co. KGaA (Germany), Edwards Lifesciences Corporation (US), OMRON Corporation (Japan), Masimo Corporation (US), Compumedics Limited (Australia), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Nihon Kohden Corporation (Japan), Natus Medical (US), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Getinge AB (Sweden), Boston Scientific Corporation (US), Dexcom, Inc. (US), Nonin (US), BIOTRONIK (Germany), SCHILLER (Switzerland), and BioTelemetry, Inc. (US), among others.
This report studies the patient monitoring devicesmarket based onproduct, enduser, and region. It also coversthe factors affecting market growth,analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.
This report provides insights on the following pointers:
Market Penetration:Comprehensive information on the product portfolios offered by the top players in the patient monitoring devicesmarket
Product Development/Innovation:Detailed insights on the upcoming trends, R&D activities, and product launches in the patient monitoring devicesmarket
Market Development:Comprehensive information on lucrative emerging regions
Market Diversification:Exhaustive information about new products, growing geographies, and recent developments in the patient monitoring devicesmarket
Competitive Assessment:In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook