Australia Patient Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Australia Patient Monitoring Market is segmented by Type of Device, Application (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management and Fitness Monitoring, and Other Devices), End-User

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2019
CAGR: 6.8 %

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Market Overview

Australia’s market for patient monitoring devices is witnessing rapid growth in recent times. This is due to the advances on the technological forefront, larger patient pool, and lenient regulatory framework. Other key factors boosting the market growth are an increase in the chronic disease population, a rise in the aging population. Cardiovascular diseases are one the leading cause of increased morbidity and mortality There are an estimated number of 1.2 million (5.6%) Australian adults aged 18 years and over had 1 or more conditions related to the heart or vascular disease, including stroke, in 2017–18, based on self-reported data from the Australian Institute of Health and Welfare (AIHW) National Hospital Morbidity Database. Therefore the growing burden of such diseases is expected to increase the demand for monitoring systems in the market during the forecast period. However, the resistance from the healthcare industry professionals towards the adoption of the patient monitoring systems and lack of proper reimbursement policies is restraining the market growth

Scope of the report

As per the scope of this report, patient monitoring devices are monitoring devices that continuously monitor the patient’s vital parameters, like blood pressure and heart rates, by using a medical monitor and collecting medical (and other) data from individuals.

By Type of Device
Hemodynamic Monitoring Devices
Neuromonitoring Devices
Cardiac Monitoring Devices
Multi-parameter Monitors
Respiratory Monitoring Devices
Remote Patient Monitoring Devices
Other Types of Devices
By Application
Cardiology
Neurology
Respiratory
Fetal and Neonatal
Weight Management and Fitness Monitoring
Other Applications
By End Users
Home Healthcare
Hospitals and Clinics
Other End Users

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Key Market Trends

Weight Management & Fitness Monitoring is Expected to Show a Significant Growth Rate During the Forecast Period

The adoption of a sedentary lifestyle in the Australian population, such as physical inactivity, poor diet, high consumption of sugar, etc. has led to many chronic conditions such as diabetes, obesity, cardiovascular diseases, and others. According to the Australian Institute of Health and Welfare, 2017-18, around 67% of adults aged 18 years and above were overweight and around 25% of children aged between 2 years and 17 years were overweight in Australia. Hence, it has become essential to manage these patients' overall health, and therefore, these factors are expected to increase the demand for weight management & fitness monitoring.

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Competitive Landscape

The Australian patient monitoring market consists of several major players. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships that help them in strengthening their market position. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Incidences of Chronic Diseases due to Lifestyle Changes

      2. 4.2.2 Growing Preference for Home and Remote Monitoring

    3. 4.3 Market Restraints

      1. 4.3.1 Resistance from the Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type of Device

      1. 5.1.1 Hemodynamic Monitoring Devices

      2. 5.1.2 Neuromonitoring Devices

      3. 5.1.3 Cardiac Monitoring Devices

      4. 5.1.4 Multi-parameter Monitors

      5. 5.1.5 Respiratory Monitoring Devices

      6. 5.1.6 Remote Patient Monitoring Devices

      7. 5.1.7 Other Types of Devices

    2. 5.2 By Application

      1. 5.2.1 Cardiology

      2. 5.2.2 Neurology

      3. 5.2.3 Respiratory

      4. 5.2.4 Fetal and Neonatal

      5. 5.2.5 Weight Management and Fitness Monitoring

      6. 5.2.6 Other Applications

    3. 5.3 By End Users

      1. 5.3.1 Home Healthcare

      2. 5.3.2 Hospitals and Clinics

      3. 5.3.3 Other End Users

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Baxter International Inc.

      2. 6.1.2 Nihon Kohden Corporation

      3. 6.1.3 Mindray Medical International Co. Ltd.

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 General Electric Company (GE Healthcare)

      6. 6.1.6 Johnson & Johnson

      7. 6.1.7 Medtronic Care Management Services LLC

      8. 6.1.8 Koninklijke Philips NV

      9. 6.1.9 Masimo Corporation

      10. 6.1.10 Siemens Healthcare GmbH

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Australia Patient Monitoring Market market is studied from 2018 - 2026.

The Australia Patient Monitoring Market is growing at a CAGR of 6.8% over the next 5 years.

Koninklijke Philips N.V, Mindray Medical International Co. Ltd., Nihon Kohden Corporation, Baxter International Inc., Siemens Healthcare GmbH are the major companies operating in Australia Patient Monitoring Market.

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