Polaris Market Research recently released [115+ Pages] research report on “Patient Monitoring Devices Market Share, Size, Trends, Industry Analysis Report, By Product; By end use (hospitals, ambulatory surgery centers, home care facilities, other); By region; Sector forecasts, 2022 – 2030 » in its research database.
According to the research report, the global patient monitoring devices market size was valued at USD 38.7 billion in 2021 and is expected to reach USD 73.4 billion by 2030increasing to one 7.4% CAGR during the forecast period.
What are patient monitoring devices? What is the patient monitoring devices market size?
Patient monitoring devices allow providers to continuously monitor a patient’s serious or chronic conditions, such as pulse rate, heart rate, blood oxygen saturation, and more. The patient’s condition can be analyzed from outside clinics and hospitals. The main purpose of these monitoring devices is to quickly notify critically ill patients.
Major patient monitoring devices include respiratory devices, heart monitors, and temperature monitoring devices. Growing acceptance of wearable patient monitoring devices is propelling the market. The increasing frequency of cardiovascular diseases in the world is expected to increase the market share of patient monitoring devices over the forecasted period.
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(The sample of this report is readily available on demand. The sample report contains a brief introduction to the research report, a table of contents, a graphical introduction of the regional analysis, the main market players with their analysis of the income and our research methodology. .)
- A comprehensive background analysis, which includes an assessment of the parent market
- Assessment of growth opportunities in key segments and regions
- Significant changes in industry dynamics
- Detailed business profiling of top market players
- Historical, current and projected market size by value and volume
- Reliable industry value chain and supply chain analysis
- Recommendations for companies to strengthen their presence in the industry
Some of the best players in the market are:
- American helpline
- Biotelemetry Inc
- Boston Scientific Society
- Compumedics Limited Electronics Co. Ltd
- Covidien Plc.
- Edwards Life Sciences Society
- Health Anywhere Inc.
- Johnson & Johnson
- Masimo Company
- Natus Medical Medtronic plc
- OMRON Company
- Philips Health
- Shenzhen Mindray Bio-Medical
- Welch Allyn
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The market demand for patient monitoring devices is increasing due to the growing number of chronic cases including kidney disease, stroke, and diabetes. The rapid increase in patient monitoring devices for residential facilities is expected to drive the market over the assessment period. The growing geriatric population is one of the major factors responsible for the highest revenue share of the market and is expected to maintain its dominance over the forecast period.
The evolution of advanced technology products such as nebulizers, ventilators, oxygen monitors and others is expected to increase the market size of patient monitoring devices over the assessment period. Several government initiatives towards the healthcare industry are expected to fuel industry demand. The growing prevalence of portable and remote patient monitoring devices is expected to accelerate the patient monitoring devices industry over the assessment period. Also, the rapid increase in smoking is expected to boost the industry.
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- In January 2022, MDLIVE launched Patient Health Monitoring to improve the health of people living with chronic conditions. This digital program aims to improve health outcomes for people with chronic conditions such as diabetes, heart disease or high blood pressure.
- In January 2022, Omron Healthcare launched heart-based remote patient monitoring. This launch would expand digital health services to consumers and monitor the risks of heart disease and other ailments.
- Multi-Parameter Monitoring Devices Considered the Highest Market Share
Based on the product, multi-parameter monitoring devices dominated the patient monitoring devices industry in 2021 and are expected to maintain their dominance over the review period. The factors responsible for segment dominance are battery-powered, low-cost, and highly fused silicon systems that implement multiple parameters in a low-cost, low-power integrated solution. Also, readily available silicon solutions are pulse oximetry, respiration, one or more computing units, and a low-power Bluetooth radio.
- Hospitals dominate the market
On the basis of end-use, patient monitoring devices market segmentations are categorized into hospitals, ambulatory surgery centers, home care facilities, and others. Of all of them, the hospital segment accounted for the largest revenue share in 2021 and is expected to maintain its dominance during the forecast period. The factors responsible for the dominance of the segment are the rising importance of accurate and precise detection of diseases and the increasing number of treatments transferred to hospitals. Moreover, the number of admissions is increasing due to several reasons such as accidents, chronic diseases and others which fuel the dominance of the segment.
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- North America accounts for significant market growth
Based on geography, the North America region is considered to have the largest patient monitoring devices market share. The region dominates due to increasing research and development for the evolution of advanced sensor-based patient monitoring systems, security concerns, the increasing frequency of infectious diseases, and technological advancements in devices such as the monitoring of hospitalized patients. Additionally, the world’s most popular companies such as Natus Medical, GE Healthcare, and Edward Lifesciences are headquartered in the region, which is another factor responsible for the region’s dominance.
Browse the detailed report “Patient Monitoring Devices Market Share, Size, Trends, Industry Analysis Report, By Product; By end use (hospitals, ambulatory surgery centers, home care facilities, other); By region; Sector forecasts, 2022 – 2030 » with an in-depth table of contents: https://www.polarismarketresearch.com/industry-analysis/patient-monitoring-devices-market
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Key questions answered by the report include:
- What is the total market value of the Patient Monitoring Devices market?
- What is the expected CAGR of the market during the forecast period?
- Which region is expected to project the highest market share in the industry?
- What are the key factors driving the growth of the market?
- Who are the main market players?
Polaris Market Research has segmented the Patient Monitoring Devices Market report on the basis of Product, End-Use, and Region:
By Product Perspective
- Blood Glucose Monitoring Systems
- Self-monitoring blood glucose systems
- Continuous Glucose Monitoring Systems
- Heart monitoring devices
- ECG devices
- Implantable loop recorders
- Event monitors
- Mobile Heart Telemetry Monitors
- Smart/Portable ECG Monitors
- Multi-parameter monitoring devices
- Low-acuity monitoring devices
- Medium Acuity Monitoring Devices
- High-acuity monitoring devices
- Respiratory monitoring devices
- Pulse oximeters
- Peak flow meters
- Temperature monitoring devices
- Portable Temperature Monitoring Devices
- Table temperature monitoring devices
- Portable Continuous Monitoring Devices
- Invasive Temperature Monitoring Devices
- Smart temperature monitoring devices
- Hemodynamic/pressure monitoring devices
- Hemodynamic monitors
- Fetal and Neonatal Monitoring Devices
- Fetal monitoring devices
- Neonatal monitoring devices
- Neuromonitoring devices
- Electroencephalography machines
- Electromyography devices
- Cerebral oximeters
- Intracranial pressure monitors
- Magnetoencephalography machines
- Transcranial Doppler devices
- Weight monitoring devices
- Other Patient Monitoring Devices
By end-use outlook
- Ambulatory surgery centers
- Home care settings
Outlook by region
- North America (USA, Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia-Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, South Africa)
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