Patient Monitoring Devices Market Analysis Report By Product, By End-use, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global patient monitoring devices market was prized by USD 37.3 billion in 2020. It is estimated to witness 8.8% CAGR from 2021 to 2028.

Drivers

The expansion of the market can be credited to the increasing demand for monitoring devices utilized to display, distribute, measure, and record, a mixture of biometric values, for example blood pressure, stage of blood oxygen saturation and temperature.

As the practices of social distancing and quarantining are globally applied, due to the eruption of Covid-19 pandemic, several persons are averting recurrent visits to hospital. In this situation numerous people needs regular checking of their temperature and oxygen level at their house, to maintain trace of their physical condition. In this manner, needs monitoring devices at house.

Furthermore, the rising inclination for remote patient monitoring as well as wearable devices is, moreover, propelling the enlargement of the patient monitoring devices market. Wearable devices perform a significant function in the identification of a variety of chronic sicknesses, by means of merging medical symptomology and necessary fundamental symbols. Therefore, the utilization of wearable devices, to fight Covid-19, has considerably augmented. The rising figure of chronic complaints like kidney illness, diabetes, and stroke boosts the demand for patient monitoring devices.

The figure of Chronic Obstructive Pulmonary Disease (COPD) patients, asthma patients and the greater occurrences of tobacco smoking are fast growing. Consistent with the World Health Organization (WHO) figures, approximately 235 million persons are diagnosed with asthma. This has caused an escalation in the operation of a peak flow meter, which is utilized to gauge the speed of respiration. It is simple to operate, transport, in addition to distantly reachable, which augments its need for the treatment and consequently, propels the market.

Product Insight

The cardiac monitoring systems section retained the major, above 19.5% revenue share of the patient monitoring devices market, in 2020. Consistent with the World Health Organization (WHO), on global level Cardiovascular Diseases (CVDs) are the chief reasons of death and roughly 30.0 million people, every year, undergo a heart attack as well as stroke.

The growing occurrences of cardiac sickness is raising the demand for cardiac monitoring system apparatuses, therefore key players of the market are making efforts to meet up the requirements, by means of introducing latest products.
In addition, regional growth, technical progression and the proposals by the government are the factors, expected to increase the segmental enlargement of the market.

End Use Insight

The hospital division held the biggest, above 51.3% revenue share and led the patient monitoring devices market, in 2020. The big market share is credited to the factors such as the increasing procedural quantity in hospital site, and the rising stress on before time as well as efficient diagnosis of the illness, in hospital.

The additional sectors for the market comprise home care settings, ambulatory surgical centers, hospitals, plus others. The home care section is expected to observe speedy enlargement, during the forecast period.

There is a rising inclination for delivery of treatment on the bedside or at home, along with the portability. This is speeding up the expansion of next-generation healing, design of the monitoring apparatuses, display and diagnostic which is additionally compacted, versatile, and accurate.

Regional Insight

In 2020, North America held principal, above 42.7% revenue share and led the global patient monitoring devices market. Rising demand for portable as well as wireless systems, intended for decreasing out-of-pocket spending, rising frequency of chronic sicknesses, together with the existence of superior technology are a few factors, credited to the enlargement of the market, within the region.

Moreover, the key players like Natus Medial, GE Healthcare, Edward Life sciences and Massimo Corporation are spending on the R&D projects, intended for additionally sophisticated patient monitoring device amenities.

The market in Asia Pacific is expected to observe profitable enlargement, during the forecast period because of the greater ingestion of sugar which causes several chronic situations like diabetes and fatness, the acceptance of a deskbound way of life for example physical idleness, poor diet within the state and others.

China and India contain the major diabetic populace and is projected to augment during the forecast period. This produces a rise in alertness about diabetes precautionary care. Sequentially, this is expected to increase the expansion of the market.

Companies

Due to the existence of a big number of global and national companies, the market for patient monitoring devices is extremely aggressive. The main companies of the market are providing financial support for diverse policies like mergers, modernization, joint venture, product presentation, and partnerships to expand the market. The increasing figure of diabetic patients is escalating the demand for the use of patient monitoring devices.

Some of the companies for patient monitoring devices market are:

    • Welch Allyn
    • Biotronik
    • Health anywhere Inc.
    • Intel
    • Bosch

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this report, Million Insights has segmented the global patient monitoring devices market report on the basis of product, end-use, and region:

• Product Outlook (Revenue, USD Billion, 2016 - 2028)
    • Blood Glucose Monitoring Systems
        • Self-monitoring Blood Glucose Systems
        • Continuous Glucose Monitoring Systems
    • Cardiac Monitoring Devices
        • ECG Devices
        • Implantable Loop Recorders
        • Event Monitors
        • Mobile Cardiac Telemetry Monitors
        • Smart/Wearable ECG Monitors
    • Multi-parameter Monitoring Devices
        • Low-acuity Monitoring Devices
        • Mid-acuity Monitoring Devices
        • High-acuity Monitoring Devices
    • Respiratory Monitoring Devices
        • Pulse Oximeters
        • Spirometers
        • Capnographs
        • Peak Flow Meters
    • Temperature Monitoring Devices
        • Handheld Temperature Monitoring Devices
        • Table-top Temperature Monitoring Devices
        • Wearable Continuous Monitoring Devices
        • Invasive Temperature Monitoring Devices
        • Smart Temperature Monitoring Devices
    • Hemodynamic/Pressure Monitoring Devices
        • Hemodynamic Monitors
        • Blood Pressure Monitors
        • Disposables
    • Fetal & Neonatal Monitoring Devices
        • Fetal Monitoring Devices
        • Neonatal Monitoring Devices
    • Neuromonitoring Devices
        • Electroencephalograph Machines
        • Electromyography Machines
        • Cerebral Oximeters
        • Intracranial Pressure Monitors
        • Magnetoencephalograph Machines
        • Transcranial Doppler Machines
    • Weight Monitoring Devices
        • Digital
        • Analog
    • Other Patient Monitoring Devices

• End-use Outlook (Revenue, USD Billion, 2016 - 2028)
    • Hospitals
    • Ambulatory Surgery Centers
    • Home Care Settings
    • Others

• Regional Outlook (Revenue, USD Billion, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
    • Asia Pacific
        • China
        • Japan
        • India
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East & Africa
        • Saudi Arabia
        • South Africa
        • UAE