In accordance with this study, the Global Patient Monitoring Device Market value registered in 2019 was close to USD XX BN and is predicted to outstretch revenue by USD XX BN in 2019 with a CAGR of XX% during the period of 2020-2026.
Patient monitoring devices are able to monitor blood pressure, oxygen saturation, temperature, pulse, pain, urine output, level of consciousness, and respiration rate. The aforementioned parameters are monitored to analyze the health of patients. Patient monitoring devices are utilized during major and minor surgeries to examine the patient’s body functions and related complications. Nowadays, owing to the technological advancements in wireless technology these devices can also remotely monitor the physiological parameters of patients. These devices are an essential part of hospitals and clinics as they help medical examiners to determine the intensity of a disease. Moreover, patient monitoring devices are able to detect and monitor the health conditions of patients suffering from diabetes and cardiovascular diseases.
Growing incidences of chronic diseases owing to lifestyle changes coupled with rise in geriatric population and increasing preference for home and remote monitoring, fuels the patient monitoring devices market growth. According to the research study by World Health Organization, it is estimated that 17.9 million people died from cardiovascular diseases in 2016 globally. 85% of these deaths are due to stroke and heart attacks. Two out of three people in retirement age are anticipated to suffer from two chronic conditions, according to the study by World Health Organization.
Growing frequency of chronic and cardiovascular diseases is attributed to the aging society coupled with change in lifestyle preferences including smoking, alcohol consumption, unhealthy diet and sedentary lifestyles. WHO research reveals that total cardiovascular disease population is expected to increase in the future, if no actions are taken to inhibit the increasing chronic disease cases. According to European Commission, 70% of the health care budges are spent on chronic disease in the European region. Patient monitoring devices can identify and detect minute differences in the patient’s physiological data, thereby promoting self monitoring. Therefore, increasing incidents of chronic diseases and government initiatives to eliminate its growth propels the global patient monitoring accessories market growth. However, high cost of these technologies negatively impacts the market progression. The technological advancements and innovation in the devices is expected to enhance the opportunities for the market in the coming years.
The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity. These tools also serve the detailed information of each application/product segment in the global market of patient monitoring device.
The study offers a decisive view of the global patient monitoring device market by segmenting it terms of product and end-user. The report analyzes these subsets with respect to the regional segmentation. This research study will prepare marketers for the evolving needs of their customers.
- Remote Patient
- Fetal & Neonatal
- Urine Output Monitoring Devices
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Home Settings
This section covers patient monitoring device market for the regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Regional segmentation has been done based on the present and future trends in the global patient monitoring device market along with the individual application segment across all the prominent region.
Global Patient Monitoring Device Market Share by Region (Representative Graph)
This research report also includes profiles of major companies operating in the global market. Some of the prominent players operating in the global patient monitoring device market are Abbott Laboratories, Biotronik SE & Co. KG, General Electric Company (GE Healthcare), F. Hoffmann-La Roche Ltd., Johnson & Johnson, Koninklijke Philips N.V. (Philips Healthcare), Masimo Corporation, Medtronic Plc. (Covidien Ltd.), Nihon Kohden Corporation, and Omron Corporation. This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.
The projections featured in the report have been derived by using primary and secondary research. Secondary research has been carried out by using various sources which include (but not limited to) Corporate Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different trade publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.