Patient Monitoring Devices Market Size, End-User Analysis & Forecast Report till 2025
Patient Monitoring Devices Industry Overview
The patient
monitoring devices market is projected to reach USD 55.1 billion by 2025
from USD 36.4 billion in 2020, at a CAGR of 8.6% during the forecast period.
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The growth of this market is mainly driven by the increasing
incidence of chronic and lifestyle-related diseases such as CVD, COPD and
diabetes. technological advances for the development of wearable patient
monitoring technologies; increased funding, research grants and public-private
investment; increased government initiatives to improve hospitals' health
infrastructure; Emergence of user-centric patient monitoring devices.
COVID-19 Impact on the global Patient Monitoring Devices
market
As a result of the pandemic, during March 2020 and
throughout the second quarter of 2020, access to customers to sell and
implement the patient monitoring devices (such as neuromonitoring devices,
weight monitoring devices) diminished as hospitals became primarily focused on
the COVID-19 pandemic. The pandemic has led to a significant increase in the
demand for remote monitoring and patient engagement solutions.
Patient Monitoring Devices Market
Segmentation
The ECG devices subsegment of cardiac monitoring devices
products to hold major market share by 2025
Based on the product, the patient monitoring devices market
is segmented into blood glucose monitoring systems, cardiac monitoring devices,
multiparameter monitoring devices, respiratory monitoring devices, temperature
monitoring devices, hemodynamic/pressure monitoring devices, fetal and neonatal
monitoring devices, neuromonitoring devices, weight monitoring devices and
other patient monitoring devices.
Based on product, the blood glucose monitoring systems
segment is expected to account for the largest share of the patient monitoring
devices market
Based on type, the blood glucose monitoring systems market
has been segmented into the self-monitoring blood glucose systems and continuous
glucose monitoring system. Among these, the self-monitoring blood glucose
systems sub-segment dominated the market. The major share of the segment is
attributed to the rising adoption of integrated blood glucose monitoring
systems in developing as well as developed countries.
The hospital segment is expected to register the highest
growth rate during the forecast period
Based on end user, the patient monitoring devices market has
been segmented into the hospitals, ambulatory surgery centers, home care
settings and other end users. Significant market growth and large share of
hospital segment can primarily be attributed to the presence of advanced ICUs
and emergency wards in hospitals and the increasing number of surgical
procedures.
Patient Monitoring Devices Regional
Outlook
·
North America
·
Europe
·
Rest of Europe (RoE)
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Key Companies Profile & Market Share Insights
The major players in the patient monitoring devices market
are 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), Nonin (US), BIOTRONIK (Germany), SCHILLER
(Switzerland), and BioTelemetry, Inc. (US), among others.
Medtronic plc (US) has a wide range of product
offerings in the patient monitoring devices market, including neuromonitoring,
respiratory monitoring devices, cardiac monitoring devices, and blood glucose
monitoring products.
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