Report Ocean recently released a research report on the Patient Monitoring Device Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global patient monitoring device market size was US$ 21.1 billion in 2020. The global patient monitoring device market is forecast to grow to US$ 41.5 billion by 2030, registering a compound annual growth rate (CAGR) of 4.7% during the forecast period from 2022 to 2030.
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Factors Influencing the Market Growth
- The growing trend of wireless monitoring devices is the primary factor driving the market growth. Moreover, the advent of wearable technologies, such as a smartwatch, has been profitable for market growth.
- Increasing cases of chronic diseases are forecast to fuel the market growth. Moreover, the increasing demand for remote healthcare systems will further boost the market growth during the study period.
- The increasing geriatric population, growing healthcare expenditure, and rising awareness towards regular health checkup is forecast to fuel the market growth. In addition, the advent of home healthcare will benefit the global patient monitoring device market.
- Strict regulatory requirements may hamper the growth of the global patient monitoring devices market.
Regional Analysis
Of all the regions, North America accounts for the largest patient monitoring device market, owing to the increasing cases of chronic diseases. In addition, the high healthcare expenditure of the region is playing a prominent role in the market growth.
In addition, increasing consumer awareness and growing adoption of the remote healthcare system are prompting the growth of the region in the global patient monitoring device market.
Asia-Pacific is forecast to record the highest growth rate, owing to increasing healthcare expenditure, growing cases of chronic and lifestyle-associated diseases, rising trend of remote healthcare, and growing consumer awareness in the region.
COVID-19 Impact Analysis
The demand for patient monitoring devices suddenly increased during the COVID-19 pandemic, mainly due to the mandatory need to look over health. It became essential for the consumer to perform regular check-ups. Thus, market players started offering efficient, user-friendly technologies for people to use at home. Thus, the global patient monitoring device market grew significantly during the pandemic.
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Competitors in the Market
- Becton
- Dickinson and Company
- STERIS
- DXC Technology Company
- Cerner Corporation
- Allscripts Healthcare Solutions
- Omnicell
- McKesson Corporation
- GE Healthcare
- Optum
- Nexus AG
- Getinge
- Surgical Information Systems
- Other prominent players
Market Segmentation
The global patient monitoring device market segmentation focuses on Product, End-User, and Region.
Global Patient Monitoring Devices Market, by Product
- Blood Glucose Monitoring Systems
- Self-monitoring Blood Glucose Systems
- Continuous Glucose Monitoring Systems
- Cardiac Monitoring Devices
- ECG Devices
- Implantable Loop Recorders
- Event Monitors
- Mobile Cardiac Telemetry Monitors
- Smart/Wearable ECG Monitors
- Multi-parameter Monitoring Devices
- Low-acuity Monitoring Devices
- Mid-acuity Monitoring Devices
- High-acuity Monitoring Devices
- Respiratory Monitoring Devices
- Pulse Oximeters
- Spirometers
- Capnographs
- Peak Flow Meters
- Temperature Monitoring Devices
- Handheld Temperature Monitoring Devices
- Table-top Temperature Monitoring Devices
- Wearable Continuous Monitoring Devices
- Invasive Temperature Monitoring Devices
- Smart Temperature Monitoring Devices
- Hemodynamic/Pressure Monitoring Devices
- Hemodynamic Monitors
- Blood Pressure Monitors
- Disposables
- Fetal & Neonatal Monitoring Devices
- Fetal Monitoring Devices
- Neonatal Monitoring Devices
- Neuromonitoring Devices
- Electroencephalograph Machines
- Electromyography Machines
- Cerebral Oximeters
- Intracranial Pressure Monitors
- Magnetoencephalograph Machines
- Transcranial Doppler Machines
- Weight Monitoring Devices
- Digital
- Analog
- Other Patient Monitoring Devices
Global Patient Monitoring Devices Market, by End User
- Hospitals
- Ambulatory Surgery Centers
- Home Care Settings
- Other End Users
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Global Patient Monitoring Devices Market, by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Patient Monitoring Device Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Patient Monitoring Device market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Patient Monitoring Device Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Patient Monitoring Device market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Patient Monitoring Device market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Patient Monitoring Device market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Patient Monitoring Device market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Patient Monitoring Device business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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