Selbyville, Delaware, July 22, 2019 (GLOBE NEWSWIRE) --
North America patient monitoring devices market share anticipated to witness more than 4% growth in forthcoming future. Sedentary lifestyle, consumption of junk food and lack of exercise has boosted incidences of chronic conditions such as cardiovascular diseases and endocrine disorders due to rise in cholesterol levels. This scenario proves beneficial for the industry growth as it increases the demand for patient monitors required for continuous monitoring of vital parameters. Moreover, elderly population have more preference towards remote patient monitoring devices due to convenience that should elevate the regional market growth.
Ambulatory surgical centers (ASCs) segment was valued around USD 4 billion in 2018. Considerable revenue size is attributable to advantages offered by ASCs such as low cost minimally invasive surgeries and reduced length of patient stay. Thus, large number of outpatient surgeries are performed that should increase the demand for patient monitoring devices thereby, boosting the segmental growth.
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Wireless patient monitoring devices market segment is anticipated to witness more than 5% CAGR throughout the forecast time frame. Wireless patient monitoring system transfer patient’s data to remote locations easily. Advanced remote patient monitoring techniques assist doctors to examine multiple patients simultaneously. Also, healthcare professionals can observe patients from rural areas that are deprived of healthcare facilities. Thus, demand for wireless monitoring devices will increase owing to several advantages associated with it.
Global Patient Monitoring Devices Market will surpass USD 27 billion by 2025; according to a new research report by Global Market Insights, Inc. Growing preference for advanced patient monitoring devices across the globe will positively influence the industry growth in coming years. Digitalization in patient monitors has helped the doctors to maintain record of patient’s vital parameters throughout the treatment process that has reduced the mortality rates. Also, automation in patient monitors have reduced the requirement of skilled staff reducing the overall operational costs. Parameters are directly displayed and are also easy to interpret. Increase preference for monitoring devices in hospital settings due to numerous benefits associated with it should surge the patient monitoring devices market growth.
Rising awareness pertaining to availability of advanced patient monitoring systems in developing and underdeveloped countries will propel business growth. Government of developing economies such as India and China are implementing initiatives and conducting campaigns to raise the awareness pertaining to the availability of superior quality monitoring devices. Furthermore, industry players are also promoting benefits of advanced patient monitoring devices, that will augment its demand in near future thereby, propelling the patient monitoring devices market share. However, high cost of patient monitors may hamper the market growth.
Browse key industry insights spread across 140 pages with 107 market data tables & 9 figures & charts from the report, “Patient Monitoring Devices Market Size By Product (Cardiac Monitoring Devices {ECG 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 devices), By Type (Conventional, Wireless), By End-use (Hospitals, ASCs, Homecare Settings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, India, China, Japan, Australia, South Korea, Brazil, Mexico Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/patient-monitoring-devices-market
Respiratory monitoring devices segment accounted more than USD 1 billion in 2018 and it will grow substantially in coming years. Recently developed respiratory monitoring devices provide multi connectivity option that assist in delivering right amount of oxygen as well as it identifies pulse and respiration rate accurately. Moreover, respiratory monitoring devices stores patient’s information enabling clinicians to detect complications that may occur during treatment. Additionally, alert mechanism and real time detection assist doctors to provide efficient treatment to the patients. Aforementioned factors will trigger the patient monitoring devices market growth.
Notable industry players operational in the patient monitoring devices market share are Skanray Technologies, Philips, Siemens Healthineers, Medion Healthcare, GE Healthcare, Nihon Kohden, OSI Systems, Epsimed, Sensata Technologies, Fukuda, Mindray, Medtronics and Hill -Rom Holdings. Patient monitoring devices market players are implementing strategic initiatives such as product launches, collaborations, geographic expansions, mergers and acquisitions in order to acquire prominent market share and sustain industry competition. For instance, in April 2016, Nihon Kohden launched Life Scope G9 bedside monitor. This system has unique feature that monitors patients on common metrics, enhancing clinical outcomes. Thus, product launch strategy helped company to capture more market share that has fostered its revenue.
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