Detailed examination of the Global Patient Monitoring Equipment Market – opportunities and forecasts, 2016 – 2022
Global Patient Monitoring Equipment Market at $11 billion in 2015 is anticipated to reach $26.2 billion by 2022. Strong growth is predicated on the increasing reliance on multi-parameter patient monitors in every bed of the hospital, in multiple areas of specialized clinics, and in many rehab centers.
Browse 615 pages Research Report on Patient Monitoring Equipment: Market Shares, Strategies, and Forecasts, Worldwide, 2016 to 2022
Global Patient Monitoring Equipment Market is poised to achieve significant growth as a resurgence in tracking vital signs extends from the intensive care unit ICU and emergency department to all areas of the hospital, to patient transport venues, and to home outpatient treatment locations.
The driving factors of the patient monitoring market include growing population size of the elderly, rising incidences of unhealthy lifestyle, and technological developments like portability of equipment. The cardiac monitors segment had the largest share in 2015 of the total patient monitoring devices market, whereas neuromonitoring devices segment will be the fastest growing segment by 2022.
North America accounted for the highest share in 2015 and is poised to grow from 2015 to 2022. The major growth factors contributing to the growth of the North America market are the aging population and lifestyle diseases that are further adding to the overall prevalence of chronic diseases. Europe was the second leading contributor to the patient monitoring devices market in 2015. However, the growth of this region is expected to be sluggish in the forecast period and is estimated to grow at a lower CAGR, due to factors such as uneven reimbursement policies, declining birth rates, and reduced number of beds in hospitals.
APAC is the most promising region for patient monitoring devices in the coming five years. It is expected to grow at a higher CAGR over the forecast period. High population base and improved purchasing power of patients will be the major drivers of this market. Moreover, the economic instability in the western countries enables the companies to focus on the APAC region in order to meet their revenue targets.
This research report categorizes the global patient monitoring device market into the following segments and sub-segments:
- Hemodynamic Monitoring Devices
- Neuromonitoring Devices
- Cardiac Monitoring Devices
- Fetal and Neonatal Monitoring Devices
- Respiratory Monitoring Devices
- Multi-Parameter Monitoring Devices
- Remote Patient Monitoring Devices
- Weight Monitoring Devices
- Temperature Monitoring Devices
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Market Leaders – Philips, General Electric (GE), Drager, Nihon Kohden, Fukuda Denshi, Hill-Rom / Welch Allyn, Mindray Medical, OSI / Spacelabs, Viterion, Maquet, Penlon, Criticare Systems, Medtronic, Biotronic, Care Innovations, Sotera, Mortara Instrument and Others
Market Participants – Abbott Labs, Alten Calsoft Labs, AMD Global Telemedicine, American Telecare, Boston Scientific, BPL Group / Penlon, Cardiocom, CardioNet, Care Innovations, Criticare Technologies, eCaring, Getinge Group / Maquet, Guangdong Biolight Meditech Co.,Ltd., HealthSense, Honeywell, Infinium, LifeWatch, Medtronic, NSD / Viterion, Opto Circuits, BPL Group / Penlon, Qualcomm Incorporated, Roche, Schiller, Sotera Wireless, Smiths Medical, St. Jude Medical, Vitaphone and Others
Market growth occurs with the expansion of multi-parameter patient monitors connected to a central station beyond the intensive care unit to all floors of a hospital. Clinical care depends on monitoring. Vital signs monitors transmit data wirelessly directly to the electronic patient record, generating alerts if data is outside preset parameters. Patient monitors are expanding the use base in the hospital and expanding use in rehab centers, clinical settings, and home.
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