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Patient Monitoring Market - Growth, Trends, and Forecasts (2020 - 2025)

The 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 and Geography

Market Snapshot

Study Period:

2017-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

5.6 %

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Market Overview

The growth of the patient monitoring market is attributed to the rising burden of chronic diseases due to lifestyle changes, growth in the geriatric population, growing preference for home and remote monitoring, and ease of use and portability devices to promote growth.

The World Health Organization (WHO) defines chronic disease management as the “ongoing management of conditions over a period of years or decades”. Over one-third of the European population above the age of 15 has a chronic disease. Two out of three people reaching retirement age are expected to have at least two chronic conditions, according to the World Health Organization (WHO). WHO research shows that the total burden is expected to be even higher in the future if nothing is done about the growth of chronic disease cases now. According to the European Commission, 70% to 80% of healthcare budgets, or an estimated EUR 700 billion per year, is currently spent on chronic diseases in the European Union. Here, patient monitoring technologies come into play and identify small changes in the patient’s physiological data, hence promoting self-monitoring. Thus, it reduces readmissions and prevents avoidable hospitalizations, decreases the number of unnecessary trips to the doctor’s office and reduce travel-related expenses. On the short- and long-term basis, by the proper implementation, patient monitoring technologies can expand access to quality healthcare and save time and money.

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
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East & Africa
GCC
South Africa
Rest of Middle-East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Hemodynamic Monitoring Devices Segment is Expected to Grow Fastest Over the Forecast Period

The key factors propelling the growth of this market are increase in the number of critically ill geriatric cases, rise in the prevalence of cardiac disorders and diabetes, increasing demand for home-based and non-invasive monitoring systems. According to the World Health Organization, cardiovascular diseases are estimated to cause 17.9 million deaths every year. With the increasing prevalence of cardiovascular diseases and other chronic disease , the market growth also increases. Factors such as technological advancements in hemodynamic monitoring systems, increasing research into hemodynamic monitoring systems further boost the market.

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North America Region Holds the Largest Market Share of the Patient Monitoring Market Market Currently and is Believed to Follow the Same Trend over the Forecast Period

The North American patient monitoring market dominated the global market and is estimated to show a similar trend during the forecast period. The increasing geriatric population, rising incidences of chronic diseases, growing demand for wireless and portable systems, coupled with the presence of sophisticated reimbursement structure aiming toward cutting out of pocket expenditure levels, are the major factors attributing to its large market share.

The Asia-Pacific market is expected to grow at the fastest rate over the forecast period, owing to the large presence of untapped opportunities in the emerging markets of India and China, rising medical tourism, and constantly improving healthcare infrastructure in these markets.

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Competitive Landscape

The 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. For instance, Roche and Qualcomm entered into a strategic collaboration in order to enhance remote monitoring and chronic disease management.

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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 Burden 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 Healthcare Industry Professionals Toward the Adoption of Patient Monitoring Systems

      2. 4.3.2 High Cost of Technology

    4. 4.4 Porter's Five Forces 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

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East & Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East & Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Baxter International Inc.

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Becton, Dickinson and Company

      5. 6.1.5 General Electric Company (GE Healthcare)

      6. 6.1.6 Johnson & Johnson

      7. 6.1.7 Masimo Corporation

      8. 6.1.8 Medtronic Care Management Services LLC

      9. 6.1.9 Omron Corporation

      10. 6.1.10 Koninklijke Philips NV

      11. 6.1.11 Siemens Healthcare GmbH

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

**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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