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South Korea Patient Monitoring Market - Growth, Trends And Forecasts (2020 - 2025)

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The South Korea Patient Monitoring System (PMS) market is estimated to touch a revenue of USD XX million in 2016 and is projected to reach USD XX million by 2021, at a CAGR of XX% during the forecast period (2016-2021).

Monitoring devices continuously monitor patient’s vital parameters by using a medical monitor. Patient monitoring devices are effective in handling post-surgery care and monitoring of aging population. The data is displayed on a CRT, LED or LCD screen as data channels along the time axis. The displayed values are computed parameters depending upon the maximum, minimum and average values.

Drivers:

Increase in the chronic disease population, primarily due to unhealthy life styles, such as physical inactivity, excessive smoking and drinking and unhealthy diet, is the key driver of the patient monitoring market. An unprecedented increase in aging population, who has high risk of getting affected with chronic diseases, such as cancer and heart disease, among others, is also contributing to growth of this market. Additionally, demand for shift towards a more wireless and streamlined operation, need to contain ever-increasing healthcare expenditure and need to integrate data into the electronic record system, such as her, are other drivers of the patient monitoring market.

Restraints:

Resistance from the healthcare professionals over the adoption of PMS, lack of proper reimbursement policies and stringent regulatory framework are the challenges faced by the market.

Market Segmentation

  • Target Area
  • End-Users

The South Korea patient monitoring market is segmented by target area (cardiology, neurology, respiratory, fatal and neo-natal, hemodynamic monitoring devices, weight monitoring, temperature monitoring and others) and end-user (hospitals, clinics, home healthcare and ambulatory care). The cardiac segment has the largest share in the patient monitoring devices market, whereas, the neurology devices segment is expected be the fastest growing segment by 2021.

Some of the key players in the South Korea patient monitoring market are:

  • Abbott Laboratories
  • Alere Inc.
  • AMD Global Telemedicine
  • Baxter International Inc.
  • Philips Healthcare
  • The Boston Scientific Corporation
  • Bard Korea
  • Honeywell International, Inc.
  • Covidien Plc.
  • GE Healthcare

Key Deliverables in the Study

  • Market analysis for the South Korea PMS market, with region-specific assessments and competition analysis
  • Market definition along with the identification of key drivers, restraints opportunities and challenges
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
  • Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information
  • Identification and analysis of the macro and micro factors that affect the South Korea patient monitoring system market
  • Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped

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