PUNE, India, Sept. 29, 2022 /PRNewswire/ -- ReportsnReports added 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) Forecast to 2027 Research Report to its Advanced Database.
The 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.
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"In product segment, blood glucose monitoring systems segment will undergo a 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 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.
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"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 favorable 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.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1–45%, Tier 2–34%, and Tier 3– 21%
By Designation: C-level–47%, Director-level–33%, and Others–20%
By Region: North America–35%, Europe–32%, Asia Pacific–25%, Latin America–6%, and the Middle East & Africa–2%
List of Companies Profiled in the Report
Abbott Laboratories (US),
HILL-ROM HOLDINGS, INC. (US),
Drägerwerk 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),
BioTelemetry, Inc. (US)
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This report studies the patient monitoring devices market based on product, end-user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyses micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
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