The Worldwide Patient Monitoring Devices Industry is Expected to Reach $55.1 Billion by 2025
DUBLIN, Nov. 26, 2020 /PRNewswire/ -- The "Patient Monitoring Devices Market by Product (EEG, MEG, TCD, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitoring, MCOT, ECG, ICP, ILRs, Blood Glucose Monitoring, Blood Pressure Monitor), End-User (Hospitals, ASCs) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The patient monitoring devices market is projected to reach USD 55.1 billion by 2025 from USD 36.4 billion in 2020, at a CAGR of 8.6% during the forecast period.
Growth of the market is mainly attributed to the technological advancements; increasing incidences of infectious diseases, and growing public and private investments, funding, and grants are driving the global patient monitoring devices market. However, complex regulatory frameworks that delay the approval of new patient monitoring devices is expected to challenge market growth to a certain extent.
In terms of products, blood glucose monitoring systems segment to register significant growth during the forecast period.
Based on the product, the patient monitoring devices market is segmented into blood glucose monitoring systems, cardiac monitoring devices, multiparameter monitoring devices, respiratory monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, fetal and neonatal monitoring devices, neuromonitoring devices, weight monitoring devices and other patient monitoring devices. Significant growth of the segment is attributed to the ongoing product approval of continuous glucose monitoring systems, advantages offered by continuous glucose monitoring systems over self-monitoring blood glucose systems, and technological advancements in the market. Continuous glucose monitoring systems offer a wide range of advantages over self-monitoring blood glucose systems, such as reduced cost, shortened detection time, and non-invasive detection. These advantages offered by the continuous glucose monitoring systems have led to the growth of this segment.
Hospitals segment is expected to account for the largest share of the patient monitoring devices market, by the end user
On the basis of end-users, the patient monitoring devices market has been segmented into hospitals, ambulatory surgery centers, home care settings and other end users. The growth of this segment is attributed to the significant number of availability of state-of-the-art facilities for diagnosis, treatment, and disease management, as well as trained personnel, has ensured a steady demand for hospital-based care and the growing number of hospitals across major markets. The inflow of patients is considerably higher in hospitals as compared to other healthcare settings, which is another key driver for market growth. More screening and diagnostic procedures are conducted in hospitals than in other medical facilities, contributing to the large share of this end-user segment.
Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the heavy burden of infectious diseases, rising healthcare expenditure, and increasing geriatric population. Apart from this, the rising number of hospitals and ambulatory surgical centers in the APAC region is expected to propel the market for patient monitoring devices.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Patient Monitoring Devices Market Overview
4.2 Patient Monitoring Devices Market, by Product
4.3 Geographic Analysis: Patient Monitoring Devices Market, by Country/Region 65
4.4 Patient Monitoring Devices Market Share, by End-user
4.5 Geographical Snapshot of the Patient Monitoring Devices Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements in Patient Monitoring Devices
5.2.1.1.1 User-Centric Design for Wearable Devices
5.2.1.1.2 Non-Invasive Hemodynamic Monitoring
5.2.1.1.3 Digital Sensors
5.2.1.1.4 Mobile-Grade Eeg Devices
5.2.1.2 Rising Prevalence of Chronic Diseases
5.2.1.3 Availability of Wireless Monitoring Devices
5.2.1.4 Growing Preference for Wearable Patient Monitoring Devices, Biosensors, and Smart Implants Among Healthcare Payers
5.2.1.5 Growing Investments, Funds, and Grants
5.2.2 Restraints
5.2.2.1 Risks Associated with Invasive Monitoring Devices
5.2.2.2 High Cost of Patient Monitoring Products and Inadequate Reimbursement
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Non-Invasive and Minimally Invasive Devices
5.2.3.2 Growing Demand for Patient Monitoring Devices in Non-Hospital Settings
5.2.4 Challenges
5.2.4.1 Lack of Skilled Healthcare Professionals
5.2.4.2 Increasing Pricing Pressure on Market Players
5.3 Value Chain Analysis
5.4 Regulatory Analysis
5.4.1 North America
5.4.1.1 US
5.4.1.2 Canada
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.3.1 Japan
5.4.3.2 China
5.4.3.3 India
5.5 COVID-19 Impact on the Patient Monitoring Devices Market
6 Patient Monitoring Devices Market, by Product
6.1 Introduction
6.2 Blood Glucose Monitoring Systems Market
6.2.1 Introduction
6.2.2 Self-Monitoring Blood Glucose Systems
6.2.2.1 Rising Adoption of Integrated Glucose Monitoring Systems to Drive Growth in this Market
6.2.3 Continuous Glucose Monitoring Systems
6.2.3.1 Growing Product Launches & Approvals and Evolving Reimbursement Scenario for Continuous Glucose Monitoring Systems Will Drive Market Growth
6.3 Cardiac Monitoring Devices Market
6.3.1 Introduction
6.3.2 Ecg Devices
6.3.2.1 Low Cost and Wide Applications of Ecg Devices to Drive Market Growth
6.3.3 Implantable Loop Recorders
6.3.3.1 High Cost and Limited Applications Limit the Growth of this Market Segment to a Certain Extent
6.3.4 Event Monitors
6.3.4.1 Emergence of Portable and Wireless Event Monitors to Drive Market Growth
6.3.5 Mobile Cardiac Telemetry Monitors
6.3.5.1 Availability of Alternate Technologies Likely to Hinder Market Growth
6.3.6 Smart/Wearable Ecg Monitors
6.3.6.1 Need to Minimize the Treatment Cost for Cvd Patients is Likely to Increase the Adoption of Smart/Wearable Ecg Monitors
6.4 Multi-Parameter Monitoring Devices Market
6.4.1 Introduction
6.4.2 Low-Acuity Monitoring Devices
6.4.2.1 Increasing Adoption of Low-Acuity Monitoring Devices to Improve Care in General Ward
6.4.3 Mid-Acuity Monitoring Devices
6.4.3.1 Rising Geriatric Population is Likely to Increase Market Growth
6.4.4 High-Acuity Monitoring Devices
6.4.4.1 Increasing Partnerships Between Manufacturers and Multinational Hospitals Are Driving the Sales of High-Acuity Monitoring Devices
6.5 Respiratory Monitoring Devices Market
6.5.1 Introduction
6.5.2 Pulse Oximeters
6.5.2.1 Rising Adoption of Pulse Oximeters in Home Care Settings is Expected to Drive Market Growth
6.5.3 Spirometers
6.5.3.1 Technological Advancements to Increase the Adoption of Spirometers
6.5.4 Capnographs
6.5.4.1 Extensive Research in Capnography Has Led to the Development of Improved Capnographs, Resulting in Their Increased Commercial Acceptance
6.5.5 Peak Flow Meters
6.5.5.1 Peak Flow Meters Are Not Preferred Due to the High Variability in Measurements Obtained from Devices Made by Different Manufacturers
6.6 Temperature Monitoring Devices Market
6.6.1 Introduction
6.6.2 Handheld Temperature Monitoring Devices
6.6.2.1 Advantages Associated with Handheld Temperature Monitoring Devices to Drive Market Growth
6.6.3 Table-Top Temperature Monitoring Devices
6.6.3.1 Increasing Risks Associated with Hypothermia During Surgeries to Drive the Demand for Table-Top Devices
6.6.4 Wearable Continuous Monitoring Devices
6.6.4.1 Versatile Functionalities Offered by Wearable Continuous Monitoring Devices to Drive Their Demand
6.6.5 Invasive Temperature Monitoring Devices
6.6.5.1 Increasing Prevalence of Bloodstream Infections with the Use of Invasive Temperature Monitoring Devices is Hindering Market Growth
6.6.6 Smart Temperature Monitoring Patches
6.6.6.1 Long-Term Monitoring Offered by Smart Temperature Monitoring Devices is a Key Factor Driving Market Growth
6.7 Hemodynamic/Pressure Monitoring Devices Market
6.7.1 Introduction
6.7.2 Hemodynamic Monitors
6.7.2.1 Influx of Vc Funding to Drive Market Growth
6.7.3 Blood Pressure Monitors
6.7.3.1 Development of Wearable Blood Pressure Monitors to Drive the Growth of this Market Segment
6.7.4 Disposables
6.7.4.1 Growing Number of Surgical Procedures to Drive the Growth of this Market Segment
6.8 Fetal and Neonatal Monitoring Devices
6.8.1 Introduction
6.8.2 Fetal Monitoring Devices
6.8.2.1 Increasing Number of Obstetric Complications and Rising Number of Preterm and Low-Weight Births Are Driving Market Growth
6.8.3 Neonatal Monitoring Devices
6.8.3.1 Rising Number of Neonatal Care Facilities Worldwide to Drive Growth in this Market Segment
6.9 Neuromonitoring Devices Market
6.9.1 Introduction
6.9.2 Electroencephalograph Machines
6.9.2.1 Growing Applications of Eeg and Technological Advancements Are the Key Drivers for this Market Segment
6.9.3 Electromyograph Machines
6.9.3.1 Growing Availability of Reimbursements for Emg-Assisted Surgical Procedures to Drive Market Growth
6.9.4 Cerebral Oximeters
6.9.4.1 Growing Cases of Hypoxia During Surgical Procedures Are Likely to Drive Market Growth
6.9.5 Intracranial Pressure Monitors
6.9.5.1 Fatal Consequences of High Icp Make Monitoring Important-A Key Factor Driving Market Growth
6.9.6 Magnetoencephalograph Machines
6.9.6.1 High Implementation and Maintenance Costs of Meg Devices Are Likely to Hinder Market Growth
6.9.7 Transcranial Doppler Machines
6.9.7.1 Rising Prevalence of Strokes and Cerebrovascular Disorders Will Contribute to Market Growth
6.1 Weight Monitoring Devices Market
6.10.1 Introduction
6.10.2 Digital
6.10.2.1 Consumer Preference for Digital Scales Will Contribute to Market Growth
6.10.3 Analog
6.10.3.1 Rising Prevalence of Obesity and Low Cost of Analog Scales Will Contribute to Market Growth
6.11 Other Patient Monitoring Devices Market
6.11.1 Introduction
7 Patient Monitoring Devices Market, by End-user
7.1 Introduction
7.2 Hospitals
7.2.1 Hospitals to Dominate the End-User Market
7.3 Ambulatory Surgery Centers
7.3.1 Patients Are Increasingly Opting for Ambulatory Surgery Centers as a More Convenient Alternative to Hospital-Based Outpatient Procedures
7.4 Home Care Settings
7.4.1 Reduced Cost and Continuous Monitoring of Vital Information in Home Settings to Boost Growth
7.5 Other End-users
8 Patient Monitoring Devices Market, by Region
8.1 Introduction
8.2 North America
8.3 Europe
8.4 Asia-Pacific
8.5 Latin America
8.6 Middle East & Africa
9 Competitive Landscape
9.1 Market Overview
9.2 Market Share Analysis
9.2.1 Hemodynamic Monitoring Systems Market
9.2.2 Neuromonitoring Devices Market
9.2.3 Cardiac Monitoring Devices Market Ranking Analysis, 2019
9.2.4 Respiratory Monitoring Devices Market
9.3 Competitive Evaluation Matrix and Methodology
9.3.1 Competitive Leadership Mapping: Major Market Players
9.3.1.1 Stars
9.3.1.2 Emerging Leaders
9.3.1.3 Pervasive Players
9.3.1.4 Participants
9.4 Competitive Scenario
9.4.1 Product Launches & Approvals
9.4.2 Alliances, Partnerships, Agreements, and Collaborations
9.4.3 Mergers & Acquisitions
9.4.4 Expansions
10 Company Profiles
10.1 GE Healthcare
10.2 Medtronic plc
10.3 Koninklijke Philips N.V.
10.4 Abbott Laboratories
10.5 Nihon Kohden Corporation
10.6 Masimo Corporation
10.7 Omron Corporation
10.8 Edwards Lifesciences Corporation
10.9 Hill-Rom Holdings, Inc.
10.1 Dragerwerk AG & Co. Kgaa
10.11 Natus Medical
10.12 Getinge Ab
10.13 Compumedics Limited
10.14 Shenzhen Mindray Bio-Medical Electronics
10.15 Nonin
10.16 Other Companies
10.16.1 Biotronik
10.16.2 Boston Scientific Corporation
10.16.3 Biotelemetry
10.16.4 Schiller
10.16.5 Dexcom, Inc.
11 Appendix
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