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

The North America Patient Monitoring Market is segmented by Type of Device, Application(Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management and Fitness Monitoring, Other Applications), End-User and by Geography.

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2019
CAGR: 5.4 %

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Market Overview

The market in the North America region is growing at a good pace and certain factors that are driving this growth include rising incidence of chronic diseases due to the lifestyle changes in the region, an increase in the aging population, and growing demand for remote monitoring devices. The United States, being the largest economy in this region, the country's population trend largely affects the growth of the market studied in both, positive and negative manner. For instance, the rising geriatric population in the United States is acting as a growth factor for the use of patient monitoring devices. According to the United States Bureau data, the number of Americans aged 65 years and above is projected to become more than double (from 46 million in 2016 to over 98 million by 2060), and the 65-and-older age group’s share of the total population is likely to rise to nearly 24% from 15%. The growing geriatric population is more prone to diseases, which increases the usage of remote monitoring devices. Thus, the increase in the aging population is expected to boost the market in the North America region.

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

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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 segment growth are an increase in the number of critically ill geriatric cases, a rise in the prevalence of cardiac disorders and diabetes, increasing demand for home-based and non-invasive monitoring systems. Heart disease is the leading cause of death for both men and women in the United States. According to the CDC, coronary heart disease is the most common type of heart disease, killing over 370,000 people, annually. People have become more concerned about their health, especially regarding heart diseases, and hence, they are adopting preventive care. As is evident from the above-mentioned statistics, coronary conditions in the United States is a major driver for the growth of the segment.

US cardio

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Competitive Landscape

The market for patient monitoring systems in the North America region is moderately competitive and consists of global as well as local players. Some of the major players that are actively present in this region are Boston Scientific Corporation, Medtronic, Koninklijke Philips N.V, GE Healthcare, among others.

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

    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

  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 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 North America Patient Monitoring Market market is studied from 2018 - 2026.

The North America Patient Monitoring Market is growing at a CAGR of 5.4% over the next 5 years.

Abbott Laboratories, Baxter International Inc., Boston Scientific Corporation, General Electric Company (GE Healthcare), Medtronic Care Management Services LLC are the major companies operating in North America Patient Monitoring Market.

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