Patient
Monitoring Devices Market Regional Growth Overview
Market scenario:
Patient monitoring devices are employed for continuous or non-continuous
monitoring of medical parameters, disease condition and vital signs to gauge
the condition of the patient. The patient monitoring devices afford early
detections and tracking of health of the patient and are thus invaluable as a
tracking and recording measures. The global patient monitoring devices market is
anticipated to generate a CAGR growth of 8.9 % during the review period ending
2022.
Industry News:
Jan, 2017 - Abbott acquired St. Jude Medical, Inc., for approximate $25
billion creating a global behemoth which is expected to result in price
increase due to consolidation. Abbott is expected to benefit from market
expansion, diverse product portfolio, diagnostics, and others.
August, 2017 - Royal Philips acquired Spectranetics Corporation a leader in
vascular intervention solutions.
November, 2017 - Philips acquired Analytical Informatics, Inc. with an aim of
market expansion of Radiology Solutions portfolio.
Market Dynamics:
Drivers
Growing demand generated due to increased number of diseases,
population especially the elderly, growing hospitalizations and others are
prime drivers of the market. The other factors indirectly propelling the market
growth are rising incomes, growing demand for continuous monitoring, growing
screening as under the affordable healthcare act and others.
Technological drivers of the market include the growing sensitivity,
selectivity and automation of the devices. Connected healthcare and internet of
things technology (IOT) have immense future market potential. The advancements
in analytics is another reason for market optimists to rejoice.
The development of 3D technology is expected to drive a considerable
market CAGR due to features such as real time detection and 3D image generation.
“Gone are the days of limited functionality”, says Mr. Suhail Noolkar,
researcher at Market Research Future. Today’s patient
monitoring devices are feature packed to brim. The need is to generate
values so that the end customer sheds his pocket leading to faster adoption and
growth, he adds with a smile on his face.
Restraints
The growing fragmentation of the market especially in the low tech
segment is the critical constraint on the market. The large operational and
inventory costs of the industry is another factor leading to high costs
structure. The high installation and maintenance costs of the high tech
products coupled with the scarcity of trained manpower are hampering the
market.
Dominant Players:
Some of the dominant players in the global patient monitoring
devices market are GE Healthcare, Bio-Medical Electronics Co., Roche
Diagnostics, BIOTRONIK SE & Co. KG, Siemens Healthcare, Abbott
Laboratories, Honeywell International, Inc., CAS Medical Systems, Inc., Philips
Healthcare, Spacelabs Healthcare, Shenzhen Mindray and others.
Patient monitoring devices market information, by Product type
(Central monitoring stations, Portable bedside monitors, Electrocardiogram
(ECG) Devices, Hemodynamic Monitoring Devices, Fetal and neonatal monitors,
Respiratory Monitors, Weight management monitors, Temperature monitoring
devices, and Others), by end user (Hospitals and clinics, Ambulatory care
centers, Home care, and others) - Forecast to 2022 : https://www.marketresearchfuture.com/reports/patient-monitoring-devices-market-2484
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