According to the report “Global Patient Monitoring Market,” published by Market Data Forecast, the global market is projected to reach USD 24.26 Billion by 2021, growing at a CAGR of 7.5% during the forecast period 2016-2021Patient Monitoring Systems enable efficient healthcare delivery to patients outside conventional hospital or clinical settings, by transmitting real-time patient data for clinical review which enables reduce the mortality rates and facilitate efficient use of medical resources. These monitoring systems also help in avoiding emergency overcrowding by managing huge number of patients and enhance maintenance of electronic health records (EHR). Recently the market has gained immense focus due to the government measures to cut down hospital expenditures and reduce hospital stays.
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Global Patient Monitoring Market: Drivers & Restraints
The major factors backing the growth of the market in this region are the aging population, Improved purchasing power of patients, high population base and increased lifestyle diseases that are further serving the overall prevalence of chronic diseases followed by Europe. However, the growth in these regions is expected to be slow in the forecast period due to factors such as decreasing birth rates, irregular reimbursement policies and reduced number of beds in hospitals.
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Global Patient Monitoring Market: Segmentation
- Neuromonitoring Devices
- Electroencephalograph (EEG)
- Transcranial Doppler (TCD)
- Magnetoencephalograph (MEG)
- Cerebral Oximeters
- Intracranial Pressure Monitors (ICP)
- Hemodynamic Monitoring Devices
- Blood Pressure Monitors
- Blood Glucose Monitors
- Blood Gas and Electrolyte Analyzers
- Cholesterol Analyzers
- Cardiac Monitoring Devices
- Electrocardiogram (ECG)
- Event Monitors
- Implantable Loop Recorder (ILR)
- Cardiac Output Monitoring Devices
- Fetal and neonatal Monitoring Devices
- Ultra Sound Fetal Dopplers
- Internal Fetal Monitors
- Respiratory Monitoring Devices
- Anesthesia Monitors
- Sleep Apnea Monitoring Devices
- Pulse Oximeters
- Multi-Parameter Monitoring Devices
- High-Acuity Monitors
- Mid-Acuity Monitors
- Low-Acuity Monitors
- Temperature Monitoring Devices
- Weight Monitoring Devices
- Remote Patient Monitoring Devices
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Global Patient Monitoring Market: Overview
Cardiac monitoring segment occupies the largest share in global patient monitoring market and is predicted to maintain its strong share till 2020. The respiratory monitoring segment is estimated to be the fastest growing during the forecast period. This is due to increasing demand for ECG (Electro Cardiogram) devices and increased rate of cardiac and other comorbid diseases such as diabetes and high blood pressure.
Asia-Pacific is the most favourable and promising region for patient monitoring devices in the coming few years. It is projected to grow at a highest CAGR over the forecast period. Improved purchasing power of patients and high population base are the major drivers propelling the market in this region. Besides, the economic instability in the western countries facilitates the companies to plan their business more in the Asia-Pacific region and meet their revenue targets. On the flip side, patient privacy concerns & lack of proper reimbursements policies and the high cost of Patient Monitoring systems are inhibiting the growth of the market.
Global Patient Monitoring Market: Region-wise Outlook
Furthermore, on the basis of geography, the market is analysed under various regions as North America, Asia-Pacific, Europe, Latin America, Middle East & Africa. North America accounted for the highest share in 2015.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Patient Monitoring Market outlook in worldwide?
- What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Patient Monitoring space in global?
- What are the key, high growth markets that Patient Monitoring manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Patient Monitoring currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Patient Monitoring?
- What are the challenges and barriers that have hindered widespread adoption of Patient Monitoring?
Global Patient Monitoring Market: Key Players
Some of the key players in the Global Patient Monitoring market are Covidien, Abbott Laboratories, Drager, Medical GmbH, GE Healthcare, Johnson & Johnson Inc., Masimo Corporation, Mindray Medical, Mortara Instrument Inc., Natus, Nihon Kohden ,Nonin Medical, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited and Welch Allyn.
Reasons to buy Patient Monitoring Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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