The Patient Monitoring Devices Market is expected to grow at a CAGR of 5.6% to reach USD 24,762 million global forecast to 2020. Attributed to the rising prevalence of neuro-degenerative diseases, the patient monitoring market in the neuromonitoring segment will be the fastest growing segment in between 2015-2020. The patient monitoring devices form an indispensible part of medical team for every procedure, whether operating in a small clinic or a large multi-specialty hospital.
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“The neuromonitoring devices segment will be the fastest growing segment in the coming years.”
Advanced technology has reduced the size of these monitors drastically with the latest devices being mere grain sized implants. The rising adoption of telemetry and remote monitoring has fueled the growth of patient monitoring devices. The capacity of these devices to monitor patients from long distance, perform intra-operative procedures, and prescribe treatments to patients has reduced discomfort for patients, which has also reduced the hospital stays for patients and reduced the physicians’ need to travel.
The cardiac monitors segment had the largest share of the total patient monitoring devices market in 2015 and will continue to grow in the next five years to retain the leading position in 2020. The high growth in patient monitoring devices market segment is attributed to the growing demand for ECG devices. Moreover, rising incidences of cardiac and diseases such as diabetes and hypertension have also contributed to the largest share of the cardiac monitors market. Multi-parameter monitoring devices market was the second largest segment in 2015. These devices can monitor various physiological parameters of a patient in order to have an overview of the patients’ health and status. Due to the tremendous increase in the number of hospitalizations, ranging from extremely serious to basic monitoring, hospitals are increasing the investment in the multi-parameter monitoring devices.
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“Value added services provides you 10% on demand customization with no additional costs.”
With growing incidences and increasing awareness of neurodegenerative diseases this market is set to grow at a fast pace. The respiratory monitors segment is also expected to grow at a high pace in the forecast period. Under this segment the capnography products were the fastest growing among all the sub-segments of patient monitoring devices market.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on patient monitoring devices offered by top 10 players in the market. The report analyzes the patent patient monitoring devices market by product and end user across geographies
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the patient monitoring devices market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various patient monitoring devices across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the patient monitoring devices market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the patient monitoring devices market
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