Industry Background:
Continuous Technological Advancement in Monitoring Devices will help to boost global patient monitoring devices market in the forecasted period. Patient monitoring devices are used to monitor oxygen saturation, temperature, blood pressure, pain, pulse, level of consciousness, urine output, and respiration rate. The major driving factors for the growth of patient monitoring devices market are an increase in the prevalence of lifestyle diseases such as diabetes, cancer, and atherosclerosis, and an upsurge in the adoption rate of remote patient monitoring devices. Furthermore, rise in the geriatric population is projected to fuel the patient monitoring devices market growth as elderly people are more prone to suffer from chronic and lifestyle diseases that require the use of these patient monitoring devices to assess their health.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Natus Medical (United States), GE Healthcare (United States), Abbott Laboratories (United States), Baxter International Inc. (United States), Boston Scientific Corporation (United States), Becton, Dickinson and Company (United States), Honeywell Life Care Solutions (United States), Johnson & Johnson (United States), Masimo Corporation (United States) and Care Innovations, LLC. (United States) |
According to AMA, the market for Patient Monitoring Devices is expected to register a CAGR of 6.4% during the forecast period to 2027. This growth is primarily driven by Availability of Wireless Monitoring Devices and Rising Incidence of Lifestyle and Chronic Diseases.
Globally, a noticeable market trend is evident Growing Preference for Home and Remote Monitoring
The Medical Devices sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Natus Medical (United States), GE Healthcare (United States), Abbott Laboratories (United States), Baxter International Inc. (United States), Boston Scientific Corporation (United States), Becton, Dickinson and Company (United States), Honeywell Life Care Solutions (United States), Johnson & Johnson (United States), Masimo Corporation (United States) and Care Innovations, LLC. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 11th July 2019, Abbott has announced U.S. Food and Drug Administration (FDA) approval for its new blood and plasma screening Alinity™ s System. This new solution will bring the latest screening technology to U.S. blood and plasma centers.
On 6th May 2019, Abbott has launched a new, smarter heart monitor for better arrhythmia detection—positive news for people at risk for irregular heartbeats. Now with CE Mark in Europe and U.S. Food and Drug Administration (FDA) clearance, the next-generation Confirm Rx™ insertable cardiac monitor (ICM), a paperclip-sized implantable device, combines smartphone connectivity and continuous, remote monitoring to track unpredictable heart rhythm problems for fast and accurate diagnosis.
Influencing Trend:
Growing Preference for Home and Remote Monitoring and Ease of Use and Portability Devices to Promote the Growth
Market Growth Drivers:
Availability of Wireless Monitoring Devices and Rising Incidence of Lifestyle and Chronic Diseases
Challenges:
Growing Concerns Regarding Invasive Monitoring Devices
Restraints:
High Cost Associated With This Technology and Issues Related To Government Regulations & Reimbursements
Opportunities:
Increasing Demand for Patient Monitoring Devices in Non-Hospital Settings and Presence of Untapped Market in Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Patient Monitoring Devices Market
- Analysis about New Entrants in Patient Monitoring Devices Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Patient Monitoring Devices Study Sheds Light on
The Patient Monitoring Devices Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Patient Monitoring Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Patient Monitoring Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.