Patient Monitoring Devices Market 2020 growth factors, latest trend and regional analysis of leading players by 2026

Patient Monitoring Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Growing prevalence of chronic diseases among people and technological advancements in the healthcare domain is expected to augment patient monitoring devices market size by 2026. Increasing number of patients being hospitalize ever since the COVID-19 pandemic has spearheaded the deployment of various health monitoring solutions.

The types of monitoring devices that are majorly used across healthcare settings include anesthesia monitors, respiratory and cardiac monitoring devices, fetal and neonatal monitoring, multiparameter monitoring, neuromonitoring, and hemodynamic monitoring devices.

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Respiratory monitoring devices segment acquired more than 6% market share in 2019. Pulse oximeters, which are a type of respiratory monitoring device, are extremely vital as they are used to indicate and alert about drop in oxygen levels in new-born babies. They are also affordable and easy to use.

Given to rising demand, several product manufacturers are developing technologically advanced products. For example, in 2020, major medical devices manufacturer, Medtronic announced FDA approval of its novel deep brain stimulation device which chronically captures and records brain signals while providing therapy to patients suffering from neurological diseases.

Based on such developments, GMI, estimates that the patient monitoring devices market may record over USD 32.6 billion by 2026.

Telehealth services remotely exchange data among patients and healthcare technicians. This service consists of mobile or fixed units which are used for measuring blood pressure, sugar level and analyze the patient’s body temperature. There is an increasing preference for telehealth services owing to several benefits such as reduction in number of hospital visits, decreased time and cost, enhanced clinical workflow efficiency and support to patients having limited mobility.

North America patient monitoring devices market is estimated to grow significantly owing to rising prevalence of cardiac diseases. Increasing awareness about the advantages of wearable monitoring devices as well as presence of considerable number of device manufacturers will fuel regional market size.

On a global scale, the patient monitoring devices market comprises of companies such as Siemens, Philips, GE Healthcare, Fukuda, Opto India, Medtronic, Hill-Rom Holdings, Skanray Technologies, Mindray, OSI Systems, Sensata Technologies, Epsimed, Nihon Kohden, and Medion Healthcare. These firms are focusing on various business strategies such as mergers and acquisitions, new product launches, partnerships and collaborations, among others.

In 2018, Philips introduced its advanced, fully integrated range of patient monitoring solutions, consisting of the IntelliVue X3, a transport monitor that operates like a smartphone to help improve patient care, drive clinical performance and aid health systems. 

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Partial Chapter of the Table of Content 

Chapter 5.  Patient Monitoring Devices Market, By Type

5.1. Key segment trends

5.2. Conventional

5.2.1.  Market size, by region, 2015-2026 (USD Million)

5.3. Wireless

5.3.1.  Market size, by region, 2015-2026 (USD Million)

Chapter 6.  Patient Monitoring Devices Market, By End-use

6.1. Key segment trends

6.2. Hospitals

6.2.1.  Market size, by region, 2015-2026 (USD Million)

6.3. Ambulatory Surgical Centers (ASCs)

6.3.1.  Market size, by region, 2015-2026 (USD Million)

6.4. Homecare settings

6.4.1.  Market size, by region, 2015-2026 (USD Million)

6.5. Others

6.5.1.  Market size, by region, 2015-2026 (USD Million)