Monitoring devices Market Size 2022-2030, Market Share Analysis, Growth, Trends, Covid 19 Outbreak Impact Research Report Added by Precedence Research.
The global monitoring devices market size is projected to hit USD 80.75 billion by 2030. Furthermore, the CAGR from 2022 to 2030 is positioned to be at a CAGR of 8.3%.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2022 to 2030.
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Patient Monitoring Devices are the devices that is used to measure, record, distribute and display the biometric values of the patients such as blood pressure, heart beat rate, temperature and others. It helps to monitor continuously the health condition of the patients which helps the patients in living a better quality of life.
The Patient Monitoring Devices comprises of ventilators, nebulizers, oxygen monitors and many others. It assists in diagnosing and monitoring the health condition of the patients. These equipment’s are durable, reusable and can be easily operated, hence they are prescribed by the physicians to the patients across the globe to monitor their health condition.
Crucial factors accountable for market growth are:
- Rise in chronic diseases across the globe especially in the older generation people.
- Increase in older population across the globe.
- The rapid technological advancement in the Patient Monitoring Devices.
- The benefitsof regularly monitoring the patient health condition provided by the Patient Monitoring Devices.
- During the COVID-19 pandemic outbreak, the demand for Patient Monitoring Devices increased in the local hospitals and nursing homes.
The surge in the elderly population across the world and the rise in chronic disease such as cancer, diabetics, cardiac disorders, neurological conditions are the major factors that drive the growth of the Patient Monitoring Devices Market. Moreover, the rising technological advancement in the Monitoring Devices and the increase in demand for Patient Monitoring Devices across the globe is expected to drive the growth of the Patient Monitoring Devices Market.
The major restraining factor that negatively impact the growth of the Patient Monitoring Devices Market includes the high cost involved in the manufacture of the Patient Monitoring Devices and the risk associated with using the invasive monitoring systems such as pulmonary artery catheters and others.
In the past decade, with the advancement of technology high quality monitoring device has been developed. The desire of users across the globe to monitor their health condition at home has been increased and this has opened up many opportunities for the manufacturers of the Patient Monitoring Devices to develop innovative products that will fulfill the user demand of monitoring their health condition at home.
Monitoring the health condition of the patient with high accuracy and precision is one of the major challenge faced the Patient Monitoring Devices market. Furthermore, the strict Government regulations, tedious approval procedures, maintaining high quality and safety are some of the challenges encountered by the Patient Monitoring Devices market.
- Asia Pacific region is estimated to grow at highest CAGR during the forecast period owing to improved healthcare facilities and large number of target population.
- The rise in elderly population that need constant medical attention that can be ensured with the help of Patient Monitoring Devices.
- The monitoring and therapeutic devices sector will lead the Patient Monitoring Devices Market with highest revenue share during the forecast period owing to the rapid increase of chronic disease among the people all over the world.
- By Geography, North America leads the Patient Monitoring Devices Market by revenue share because of rise in chronic diseases among the people in this region.
North America is expected to lead the Patient Monitoring Devices market accounting for largest market share of more than 43.2% in 2021. The increasing research and developmental activities in this region to develop advanced patient monitoring devices is anticipated to boost the growth of the Patient Monitoring Devices market. Moreover, the rising infectious disease in the region and the presence major market players in this region will fuel the growth of Patient Monitoring Devices market.
Asia Pacific region is also estimated to grow significantly over the forecast period due to the adoption of poor lifestyle such as improper diet, physical inactiveness, high sugar consumption and many others that leads to generation of chronic disease such as obesity, diabetics and others among the people in this region. The chronic disease needs regular monitoring in order to prevent them from becoming fatal for the patients. This attribute is estimated to drive the growth of the Patient Monitoring Devices market in this region.
The monitoring devices market report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation, and so on.
Some of the key players in the global monitoring devices market include are Abbott Laboratories, Hill-Rom Holdings, Inc., Drägerwerk AG & Co. KGaA, Edwards Lifesciences Corporation, OMRON Corporation, Masimo Corporation, Compumedics Limited, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Nihon Kohden Corporation, Natus Medical, Medtronic plc (Ireland), Koninklijke Philips N.V., GE Healthcare, Getinge AB, Boston Scientific Corporation, Dexcom, Inc., Nonin, BIOTRONIK, SCHILLER, and BioTelemetry, Inc. and many others.
Segments Covered in the Report
- Cardiac Monitoring Devices
- ECG Devices
- Implantable Loop Recorders
- Event Monitors
- Mobile Cardiac Telemetry Monitors
- Smart/Wearable ECG Monitors
- Blood Glucose Monitoring Systems
- Self-monitoring Blood Glucose Systems
- Continuous Glucose Monitoring Systems
- Multi-parameter Monitoring Devices
- Low-acuity Monitoring Devices
- Mid-acuity Monitoring Devices
- High-acuity Monitoring Devices
- Temperature Monitoring Devices
- Handheld Temperature Monitoring Devices
- Table-top Temperature Monitoring Devices
- Wearable Continuous Monitoring Devices
- Invasive Temperature Monitoring Devices
- Smart Temperature Monitoring Devices
- Respiratory Monitoring Devices
- Pulse Oximeters
- Peak Flow Meters
- Hemodynamic/Pressure Monitoring Devices
- Hemodynamic Monitors
- Blood Pressure Monitors
- 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
- Other Patient Monitoring Devices
- Home Care Settings
- Ambulatory Surgery Centers
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
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