Global Patient Monitoring Devices Market to Hit USD 83.9 billion by 2031 | Growth Plus Reports

NEW YORK, April 20, 2022 /PRNewswire/ -- The Global Patient Monitoring Devices Market is expected to clock US$ ~83.9 billion by 2031 owing to rising prevalence of chronic diseases, burgeoning demand for patient monitoring devices in non-hospital settings, availability of wireless monitoring devices, technological advancements (such as mobile-grade EEG devices, digital sensors, non-invasive hemodynamic monitoring, custom designed wearable devices) in patient monitoring devices, rising preference for wearable patient monitoring devices and growing investments, funds, and grants.

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The global patient monitoring devices market has been analyzed from three different perspectives –Type, End User and Region.

Growth Factors

The rapid spread of coronavirus disease (COVID-19) across almost every country worldwide, has resulted in severe outcomes, across all regions. The first case of COVID-19 was found in Dec 2019, and by the end of Dec 2020, the count has surged to more than 90.3 million globally. In oder to alleviate the burden of Covid-19 pandemic, several prominent players are striving to  accelerate the identification of COVID-19-positive patients, predict symptoms and disease severity in patients, healthcare workers & other at-risk individuals in critical service sectors. For instance, in Aug 2020, IIT-M's Healthcare Technology Innovation Centre (HTIC) and Helyxon, a healthcare startup at IIT Madras Research Park developed a device to monitor patients. This wireless device could continuously monitor temperature, oxygen saturation, respiratory rate & heart rate and stream data to a smartphone app or to a computer server both at home or in a hospital.

Excerpts from 'By Type Segmentation'

The global patient monitoring devices market has been segmented majorly into seven distinct categories depending on type, viz.

• Blood glucose monitoring
• Cardiac monitoring devices
• Multi-parameter monitoring devices
• Neuro monitoring devices
• Hemodynamic/pressure monitoring devices
• Others (fetal & neonatal monitoring devices, temperature monitoring devices, weight monitoring devices, and others).

The cardiac monitoring devices segment is expected to be the fastest growing segment in the patient monitoring devices market. The cardiac monitoring devices are further categorized into electrocardiogram (ECG) devices, mobile cardiac telemetry devices, event monitors and others (implantable loop recorders, cardiac output monitoring devices, and others). The growth of the segment can mainly be attributed to rising prevalence for cardiovascular diseases. According to WHO, an estimated 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Therefore, in order to record & interpret the electrical activity of the heart and to detect abnormal heart rhythms, the demand for cardiac monitoring devices has increased considerably.

Excerpts from 'By Region Segmentation'

The global patient monitoring devices market has been segmented into

• North America
• Europe
• Asia Pacific
• The Rest of the World (RoW).

North America is expected to command the largest share in the global patient monitoring devices market, followed by Europe, Asia Pacific & Rest of the World (RoW). Factors such as rising prevalence of chronic & acute diseases owing to  lifestyle changes, increasing R&D activities, favorable reimbursement policies and presence of prominent players in the region coupled with their continuous effort to launch technologically advanced products can be attributed to the growth of the market.

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Excerpts from 'Competitive Landscape'

The prominent players operating in the global patient monitoring devices market are

• GENERAL ELECTRIC COMPANY
• Abbott
• Medtronic
• Koninklijke Philips N.V
• SCHILLER
• Hill-Rom Services, Inc
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd
• Nihon Kohden Corporation
• BioTelemetry, Inc
• BIOTRONIK
• Among others

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• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

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• Customer Base Assessment
• Investment & Initiatives Analysis
• 'Business Profile' of Key Players

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