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

Author : Ronak Bora | Published Date : 2020-09-02 

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.

The global patient monitoring devices market is projected to observe massive growth over the coming years due to the growing prevalence of chronic diseases among the global population. In addition, various technological advancements in patient monitoring devices to improve the level of convenience for doctors and patients are propelling the overall market size. Taking November 2019 for instance, Royal Philips, a renowned health technology company reportedly launched its new vital sighn monitor EarlyVue VS30 monitor. The new vital sign monitor allows clinicians to look at vitals remotely from a monitor-to-monitor data sharing feature.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/4069

According to a research report by GMI, the patient monitoring devices market is likely to surpass a valuation of $32.6 billion by 2026.

Following is a comprehensive overview of the major trends are influencing the patient monitoring devices market share:

Increasing demand for respiratory monitoring devices

With respect to product, the respiratory monitoring devices market is estimated to foresee an immense rate of adoption through the projected timeframe due to the growing use of pulse oximeters. In 2019, the segment accounted for an industry share of more than 6%. Pulse oximeters are specifically useful when it comes to new-born babies as it effectively notifies the hospital staff about any drops in the baby’s oxygen levels. Additionally, pulse oximeters are also more affordable and easy to use for medical facilities and healthcare professionals, which is further augmenting their demand.

Growing adoption of wireless monitoring devices:

In terms of type, the market is categorized into wireless, and conventional devices. In 2019, the wireless segment held a valuation of more than $7 billion. Wireless monitoring devices provide crucial data to concerned medical personnel remotely, thereby eliminating the need for additional hospital visits.

These products also provide quality and real-time data, which is leading to a higher preference for using wireless monitoring devices. Wireless monitoring devices allow the healthcare provider to closely monitor high-dependency patients like post-operative and rehabilitation patients, driving the segment growth.

Rising cardiac disorders across North America

In 2019, North America held 40% of the patient monitoring devices industry share due to the growing prevalence of cardiac disorders and associated requirement for cardiac monitoring devices. As per CDC (Centers for Device Control and Prevention), more than 18.2 million  adults aged 20 and more were affected by coronary artery disease in 2019.

Rising awareness pertaining to benefits of wearable monitoring devices and their availability is supporting regional patient monitoring devices market. Moreover, presence of large number of manufacturers focused to developing advanced tools and machines will further bolster business growth.

For instance, California-based health focus technology startup, Movano Inc., was planning to roll out the first needle-free wearable to monitor blood sugar level. Reportedly, the device uses an onboard radio frequency-powered sensor for acquiring exact measurements along with AI system and machine-learning for analyzing data.

Key providers of patient monitoring devices worldwide include Siemens, Philips, OSI Systems, GE Healthcare, Nihon Kohden, Medtronic, Medtronic, Fukuda, Hill-Rom Holdings, Epsimed, Mindray, Skanray Technologies, Medion Healthcare, Opto India and Sensata Technologies among others. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/patient-monitoring-devices-market  

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) 

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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