Dublin, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The "Global Patient Monitoring Devices Market by Product (EEG, MEG, TCD, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitor, MCOT, ECG, ICP, ILRs, Multi-parameter Monitoring, Weight Monitoring), End-user (Hospital, ASCs), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global patient monitoring devices market is anticipated to grow at a CAGR of 9.1% to reach USD 65.4 billion by 2027 from USD 42.3 billion in 2022. The growth of the market is mainly attributed to greater adoption of biosensors and connected care devices and higher demand for home-based or home-use products. However, the high cost associated with novel and advanced monitoring devices is expected to limit the market growth.
In the product segment, blood glucose monitoring systems segment will undergo significant growth by 2027
Based on the product, the patient monitoring devices market is segmented into multiparameter monitoring devices, temperature monitoring devices, blood glucose monitoring systems, fetal and neonatal monitoring devices, neuromonitoring devices, weight monitoring devices, cardiac monitoring devices, hemodynamic/pressure monitoring devices, respiratory monitoring devices, and other patient monitoring devices. The substantial growth of the segment is attributed to the technological advancements and ongoing product approval of continuous glucose monitoring systems, benefits offered by continuous monitoring systems over self-monitoring systems in the market. Continuous glucose monitoring systems offer a wide range of advantages over self-monitoring blood glucose systems, such as non-invasive detection shortened detection time, and reduced cost. These advantages among several other advantages offered by the continuous glucose monitoring systems will lead to the growth of this product segment.
By end-user, the hospitals segment is anticipated to account for the major share of the patient monitoring devices market
By end-users, the patient monitoring devices market is segmented into home care settings, hospitals, ambulatory surgery centers, and other end-users. The demand growth among hospitals is attributed to the momentous availability of state-of-the-art services for patient treatment, diagnosis, as well as trained personnel, and disease management, that has ensured a stable demand for increasing number of hospitals in major countries and the hospital-based care. More diagnostic and screening procedures are carried out in hospitals, promoting to the increased market share. The influx of patients is usually higher in hospitals as compared to other healthcare settings, which is another key driver for segment growth.
By Region, Asia-Pacific Patient Monitoring Devices Market is anticipated to grow at the highest CAGR by 2027
The Asia-Pacific market will grow at the highest CAGR during the forecast period majorly due to the rising healthcare expenditure, heavy burden of infectious diseases, and increasing geriatric population along with favourable public and private contribution to overall healthcare infrastructure. Apart from this, the increase in the number of ambulatory surgical centers and development of infrastructure in hospitals the APAC region is expected to propel the patient monitoring devices market.
List of Companies Profiled in the Report
- Abbott Laboratories (US)
- HILL-ROM HOLDINGS, Inc. (US)
- Dragerwerk AG & Co. KGaA (Germany)
- Edwards Lifesciences Corporation (US)
- OMRON Corporation (Japan)
- Masimo Corporation (US)
- Compumedics Limited (Australia)
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China)
- Nihon Kohden Corporation (Japan)
- Natus Medical (US)
- Medtronic PLC (Ireland)
- Koninklijke Philips N.V. (Netherlands)
- GE Healthcare (US)
- Getinge AB (Sweden)
- Boston Scientific Corporation (US)
- Dexcom, Inc. (US)
- Nonin (US)
- BIOTRONIK (Germany)
- SCHILLER (Switzerland)
- BioTelemetry, Inc. (US)
Market Dynamics
Drivers
- Increasing Technological Advancements and Innovations
- Increased User-Centric Designs for Wearable Devices
- Growing Use of Non-Invasive Hemodynamic Monitoring
- Rising Use of Digital Data Sensors
- Growing Use of Mobile-Grade EEG Devices
- Rising Prevalence of Chronic Diseases
- Availability of Wireless Monitoring Devices
- Growing Preference for Wearable Patient Monitoring Devices, Biosensors, and Smart Implants
- Growing Investments, Funds, and Grants in Healthcare Systems
Restraints
- Risks Associated with Invasive Monitoring Devices
- High Cost of Patient Monitoring Products and Inadequate Reimbursement
Opportunities
- Increasing Demand for Non-Invasive and Minimally Invasive Devices
- Growing Demand for Patient Monitoring Devices in Non-Hospital Settings
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Patient Monitoring Devices Market, by Product
7 Patient Monitoring Devices Market, by End-user
8 Patient Monitoring Devices Market, by Region
9 Competitive Landscape
10 Company Profiles
11 Appendix
Companies Mentioned
- Abbott Laboratories
- BioTelemetry
- Biotronik
- Boston Scientific Corporation
- Cardiomo
- Compumedics Limited
- Dexcom
- Dragerwerk AG & Co. KGaA
- Edwards Lifesciences Corporation
- Ejenta
- GE Healthcare
- Getinge AB
- HILL-ROM HOLDINGS, Inc.
- iRhythm Technologies, Inc.
- Koninklijke Philips N.V.
- Masimo Corporation
- Medtronic PLC
- Natus Medical
- Neteera
- Nihon Kohden Corporation
- Nonin
- Noteworth
- OMRON Corporation
- Qardio
- Recent Developments
- Schiller
- Senseonics
- Shenzhen Mindray Bio-Medical Electronics
- Tyto Care
- Vitls
- Vivify Health
For more information about this report visit https://www.researchandmarkets.com/r/rbuiw5
Attachment
