Patient Monitoring Devices Market by Type (Hemodynamic Monitoring Devices, Neuromonitoring Devices, Cardiac Monitoring Devices, Fetal & Neonatal Monitoring Device, Respiratory Monitoring Devices, Multiparameter Monitoring Devices, Remote Patient Monitoring Devices, Weight Monitoring Devices, Temperature Monitoring Devices, and Urine Output Monitoring Devices), End User (Hospital and Clinics, Home settings and Ambulatory centers) and Geography (North America, Europe, Asia Pacific and Rest of the world) Global Forecast to 2026.
The patient monitoring devices are used to monitor the patient’s health condition, which helps professionals to keep a watch on the patient's condition. The patient monitoring device calculates, record, deliver and shows the final results of biometric values such as heart rate, oxygen saturation, blood pressure, and more. The patient monitoring device market is growing enormously, and the factors contributing towards enhancing the market growth are wireless patient monitoring devices, which are very in demand. Wireless patient monitoring devices involve monitoring the patient’s vitals remotely through devices that transfer a patient’s health data to other locations of wireless technology. Also, rapid growth in the elderly population increases the prevalence of chronic diseases such as diabetes, hypertension, and cardiovascular. Somehow, the adoption of advanced patient monitoring devices by professionals is difficult, and this is a restrain to market growth. The patient monitoring devices market is estimated to grow at a CAGR of 5.6% throughout the study period, it predicted to reach from $23 billion in 2020 and anticipate to reach a value of $32 billion in 2026.
The market for Patient Monitoring Devices has been segmented based on type, end-user and geography.
Based on Type:
Hemodynamic Monitoring Devices
Electroencephalograph (EEG) Machines
Electromyograph (EMG) Machines
Electrophysiological (EP) Monitoring
Intracranial Pressure Monitors
Cardiac Monitoring Devices
Implantable Loop Recorders
Mobile Cardiac Telemetry Monitors
Smart Wearable ECG Monitors
Fetal & Neonatal Monitoring Devices
Fetal Monitoring Devices
Neonatal Monitoring Devices
Respiratory Monitoring Devices
Peak Flow Meters
Multiparameter Monitoring Devices
Low-Acuity Monitoring Devices
Mid-Acuity Monitoring Devices
High-Acuity Monitoring Devices
Temperature Monitoring Devices
Weight Monitoring Devices
Based on Geography:
Rest of the World
Patient monitoring devices market segmentation based on type: cardiac monitoring devices, fetal and neonatal monitoring devices, hemodynamic monitoring devices, multi-parameter monitoring devices, neuromonitoring devices, respiratory monitoring devices, temperature monitoring devices, weight monitoring devices, and others. This segment is expected to have the largest share in the market due to the increasing number of neurological diseases, emerging research, and development in the field of cerebral and spinal disorders and the number of growing upgraded facilities such as EEG labs and sleep centers.
Further, market-based on end-user divided into hospitals & clinics, home settings, and ambulatory surgical centers. The home setting is expected to have the largest market share due to the increase in the awareness of remote monitoring in public, which involves monitoring patient’s vitals remotely by transferring data from one location to another.
Moreover, the market based on geography is segmented into North America Asia Pacific and Rest of the world. North America dominates the market due to well organized and significant investment in healthcare infrastructure, & research and the significant surge in geriatric population boost the demand for monitoring device in the region
Globally, the demand for patient monitoring devices has increased due to the evolving lifestyle and chronic diseases such as diabetes, cancer, and others, a rise in the elderly population along with improvised technologies in this field, such as wireless remote monitoring. The increasing adoption of the patient monitoring devices in non-hospital settings such as home settings and ambulatory surgery centers which provide the opportunity for the market.
The major market players in the patient monitoring devices market include Boston Scientific Corporation, Hill-Rom Holdings, Medtronic, Nihon Kohden, Natus Medical, Koninklijke Philips N.V., Edward Lifesciences, Omron, Masimo, GE Healthcare, Hill-Rom Holdings, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Schiller g, Drägerwerk Ag, Compumedics, BTL, Biotronik, Biotelemetry, and Abbott Laboratories.
Globally, the developing countries are the future markets that are expected to provide new opportunities for the patients monitoring device market growth. This report will provide companies to understand the trends, market dynamics, and end-user requirements. The detailed analysis based on qualitative and quantitative factors provides a comprehensive view of the market
The research analysis of the major players helps users to understand the dynamic strategies of the key players including product innovation, joint ventures, merger & acquisitions, and partnerships
This report also gives detailed portfolio analysis and capability analysis for the key players
Quantitative analysis provides facts about the market.