NEW YORK, Oct. 21, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Patient Monitoring Devices Market by Product(Cardiac monitoring devices, Neuromonitoring devices, Respiratory monitoring devices, Anesthesia monitor, Hemodynamic monitoring devices, Fetal and neonatal monitoring, Multiparameter monitoring devices, and Other); by Type (Wireless Sensor Technology, MHealth, Telehealth, Wearable Devices, and others); By End use (Hospitals, Ambulatory surgical centers, Homecare settings, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 - 2026". According to the report, global demand for Patient Monitoring Devices market was valued at approximately USD 20.1 billion in 2019, and is expected to generate revenue of around USD 28.7 billion by end of 2026, growing at a CAGR of around 5.2% between 2020 and 2026.
Patient monitoring devices, calculate, transmit, record and view combinations of biometric values which include temperature, blood pressure and heart rate. To minimize complexity the bedside and transportation monitors, central station and mobile applications provide graphical consistence. Advanced supporting tools for clinical decision making and smart alarms effort together to identify and alert caregivers to critical events as early as possible. The integrated system catches a constant flow of medical data from monitors and medical devices, securely feeding it to emergency medical record (EMR). The process allows patient records from admission to discharge, even during transportation.
Digital innovations that control patient monitoring systems have significantly affected the operational costs over the last few years. Many home monitoring devices like DexCom, Mitra, and Riverfield are specifically designed for collecting samples at home, making it much easier and more cost-effective for the paitents.There are also other remote Patient monitoring devices which includes voice app reminding diabetes patient about the time to take insulin, which also allows the doctor to monitor the disease of the patient. It also facilitate the patients to remotely send their blood pressure and pulse value to their doctors.
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The use of Patient Monitoring Devices during COVID-19, growing prevalence of Chronic and acute diseases, and accessibility to wireless monitoring devices will act as major driving factors in the growth of global Patient Monitoring Devices market. Rising demand for patient monitoring devices in non-hospital locations, and increasing use of Patient Monitoring Devices in emerging markets will act as an opportunity for the market players in the Patient Monitoring Devices market. Nonetheless, risks related with invasive monitoring devices use will restrict the growth of global Patient Monitoring Devices market.
The global Patient Monitoring Devices market has been fragmented into Product, Type, End use, and region. Based on Product, Global Patient Monitoring Devices Market is segmented into cardiac monitoring devices, neuromonitoring devices, respiratory monitoring devices, anesthesia monitor, hemodynamic monitoring devices, fetal and neonatal monitoring, multiparameter monitoring devices and others. Based on Type, market is segmented into wireless sensor technology, mhealth, telehealth, wearable devices, and others. The End use segment of the Patient Monitoring Devices Market is categorized into Hospitals, Ambulatory surgical centers, Homecare settings, and others.
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Region wise, the Patient Monitoring Devices market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. North America will be the leading region during the forecast period. Increasing cases of covid-19, presence of major manufacturers of Patient Monitoring Devices in this region, and High prevalence of diseases, will boost the market growth in this region. Europe will be the second largest market. The major reasons are increasing awareness concerning use of Patient Monitoring Devices, increasing incidences of diseases, and high impact of pandemics like COVID-19. Asia Pacific will thrive at speedy rate over the forecast period due to high incidences of viral disease outbreak, and high occurrences of chronic diseases. Latin America market will progress at a notable rate during the estimate period. The Middle Eastern and African countries are expected to experience clear growth in the predictable time.
The report also includes detailed profiles of key players such Nihon Kohden, Natus Medical, Edward Lifesciences, Omron, Masimo, GE Healthcare, Koninklijke Philips N.V.,Hill-Rom Holdings, Drägerwerk AG, Shenzhen Mindray Bio-Medical Electronics , Compumedics among others.
The report segment of global Patient Monitoring Devices market as follows:
Global Patient Monitoring Devices Market: By Product
Cardiac monitoring devices
- Implantable loop recorders
- Mobile cardiac telemetry monitors
- Smart wearable ECG patches
Neuromonitoring devices
- EEG devices
- Cerebral oximeters
- Intracranial pressure monitors
- EMG devices
Respiratory monitoring devices
- Pulse oximeters
- Spirometers
- Capnographs
- Peak flow meters
Anesthesia monitor
Hemodynamic monitoring devices
Fetal and neonatal monitoring
Multiparameter monitoring devices
Others
Global Patient Monitoring Devices Market: By Type
- Wireless Sensor Technology
- MHealth
- Telehealth
- Wearable Devices
- Others
Global Patient Monitoring Devices Market: By End use
- Hospitals
- Ambulatory surgical centers
- Homecare settings
- Others
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By Region
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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