Market Snapshot:
Health professionals and doctors are utilising cutting-edge technology to effect significant change in medical services in clinical settings. Patient monitoring system is a system used to monitor physiological indicators such as the electrocardiogram (ECG), respiratory signs, intrusive and noninvasive blood pressure, body temperature, gas related parameters, and so on. Health Monitoring System (HMS) is a sophisticated technology that provides an alternative to traditional patient and health management. It comprises of a wireless wearable device, similar to a bracelet, with sensors that are linked to an application that allows a doctor to obtain medical data. With the fast rise of the older population, there is an urgent need to assist elders' capacity to retain an independent and healthy lifestyle in their homes rather than in more expensive and secluded care facilities. One way to achieving these goals is to use ambient intelligence ideas to remotely monitor an elder's activities and condition. Also, Stay up-to-date with latest research insights on "
Smart Home Healthcare Market Share & Industry Growth Analysis".
Highlights from Health Status Monitoring Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Players profiled in the report are Abbott Laboratories (United States), Drägerwerk AG & Co. KGaA (Germany), Hill-Rom Holdings, Inc. (United States), Natus Medical (United States), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), GE Healthcare (United States), Getinge AB (Sweden), Boston Scientific Corporation (United States) and BioTelemetry, Inc. (United States). Additionally, other players that are part of this comprehensive study are Edwards Lifesciences Corporation (United States), OMRON Corporation (Japan), Masimo Corporation (United States), Compumedics Limited (Australia), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China) and Nihon Kohden Corporation (Japan).
Geographic Breakdown and Segment Analysis
The Global Health Status Monitoring market presents a comprehensive analysis of the Health Status Monitoring market by product type (Blood Glucose Monitoring Systems, Cardiac Monitoring Devices, Respiratory Monitoring Devices, Temperature Monitoring Devices and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Health Status Monitoring industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Health Status Monitoring market
Analyst at AMA have segmented the market study of Global Health Status Monitoring market by Type, Application and Region.
Influencing Trend:
Rising Preference for Wearable Patient Monitoring Devices, Biosensors, And Smart Implants
Market Growth Drivers:
Technical Progress in Patient Monitoring Systems and Prevalence of Chronic Diseases & Infections
Challenges:
Lack of Skilled Professionals and High initial Investment
Restraints:
Hugh Cost Expenditure
Opportunities:
High Investment in Healthcare R&D and Growing Demand for Patient Monitoring Devices in Non-Hospital Settings
Market Developments Activities:
In February 2021 ,Philips Completed its Acquisition of Biotelemetry, Inc. (Leading Remote Cardiac Diagnostics and Monitoring Solutions Provider). The Purchase of BioTelemetry Aligns Well with Philips' Cardiac Care Portfolio and Its Aim to Change Care Delivery Across the Health Continuum with Integrated Solutions. and On 5th August 2021 - ModivCare Acquired Remote Patient Monitoring Company VRI Intermediate. The Acquisition Adds a Critical Supportive Care Platform with Unique Data Analytics to Benefit Payors and Patients. The Combination is Aimed to Advance Supportive Care and Help Drive Value-Based Care Solutions.
In March, 2020 , Medtronic Launched New Solutions to Help Monitor Patients for COVID-19. The Respiratory Infectious Disease Health Check Assists Individuals with Chronic, Co-Morbid Health Problems Who Are at The Highest Risk For COVID-19 Complications or Fatality by Tracking Respiratory Infectious Disease Symptoms.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Health Status Monitoring Solution Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others