Patient monitoring devices are used to observe vital parameters, such as heart rate and blood pressure of the patients. These devices, such as pulse oximeters, capnographs, and cardiac monitors, are increasingly used in hospitals, clinics, and various outpatient centers during minor & major surgeries and are expected to monitor the vital signs of multiple patients at the same time. The global patient monitoring devices market was valued at $21,127.3 million in 2017, and is estimated to reach at $32,435.8 million by 2025, registering a CAGR of 6.2% from 2018 to 2025.
The report analyzes the patient monitoring devices market based on three segments, namely, product type, end user, and region. On the basis of product type, it is divided into nine segments—hemodynamic, neuromonitoring, cardiac, fetal & neonatal, respiratory, multiparameter, remote patient, weight, and temperature monitoring devices. Hemodynamic monitoring devices can be further segmented into blood glucose, cholesterol, blood gas & electrolyte analyzer, and blood pressure monitors. Neuromonitoring devices is further categorized into electroencephalograph devices, magnetoencephalography devices, intracranial pressure monitors, transcranial dopplers, and cerebral oximeters. Cardiac monitoring devices are further divided into electrocardiogram devices, Holter monitors, event monitors, and others (implantable loop recorders, cardiac output monitoring devices, and others). Fetal & neonatal monitoring devices are further categorized into ultrasound fetal doppler, internal fetal monitor, and intrauterine pressure catheters. Respiratory monitoring devices are further segmented into capnograph, spirometer, sleep apnea monitor, and pulse oximeter. Multiparameter monitoring devices are further categorized into high, mid, and low acuity. Based on end user, the market is categorized into three segments—hospitals & clinics, home settings, and ambulatory surgical centers. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global patient monitoring devices market is driven by increase in the geriatric population, growth in the prevalence of patients suffering from different lifestyle diseases, and rise in the adoption rate of remote patient monitoring devices. However, the cost associated with this technology and issues related to government regulations & reimbursements are expected to hamper the global market growth. With the advancements in wireless technology, these devices are used to remotely monitor the physiological parameters of the patients, such as blood glucose level, blood pressure, heart rate, and provide appropriate treatment to the patients.
The growth in competition has led to collaborations and product launches by key players in the patient monitoring devices market. Moreover, Nihon Kohden announced the launch of the advanced bedside monitor called BSM-3500. These monitors are designed to meet the needs of ambulatory surgery and specialty centers. BSM-3500 monitors help provide a range of standard monitoring facilities and many critical capabilities in low acuity settings.
KEY MARKET BENEFITS
KEY PLAYERS PROFILED
KEY MARKET SEGMENTS
By Product Type
o Cholesterol
o Blood Gas & Electrolyte Analyzers/Monitors
o Blood Pressure
o Magnetoencephalograph (MEG) Devices
o Intracranial Pressure Monitors (ICP)
o Transcranial Dopplers (TCD)
o Cerebral Oximeters
o Implantable Loop Recorders (ILR)
o Cardiac Output Monitoring (COM) Devices
o Event Monitors
o Internal Fetal Monitors
o Anesthesia Monitors
o Spirometers
o Pulse Oximeters
o Sleep Apnea Monitoring Devices
o Mid Acuity
o Low Acuity
By End User
By Region
o Canada
o Mexico
o UK
o France
o Spain
o Italy
o Russia
o Rest of Europe
o China
o Australia
o India
o South Korea
o Taiwan
o Rest of Asia-Pacific
o Turkey
o Venezuela
o Republic of South Africa
o Saudi Arabia
o Rest of LAMEA
The other players of the catheters market include (companies not profiled in the report):
The report analyzes the patient monitoring devices market based on three segments, namely, product type, end user, and region. On the basis of product type, it is divided into nine segments—hemodynamic, neuromonitoring, cardiac, fetal & neonatal, respiratory, multiparameter, remote patient, weight, and temperature monitoring devices. Hemodynamic monitoring devices can be further segmented into blood glucose, cholesterol, blood gas & electrolyte analyzer, and blood pressure monitors. Neuromonitoring devices is further categorized into electroencephalograph devices, magnetoencephalography devices, intracranial pressure monitors, transcranial dopplers, and cerebral oximeters. Cardiac monitoring devices are further divided into electrocardiogram devices, Holter monitors, event monitors, and others (implantable loop recorders, cardiac output monitoring devices, and others). Fetal & neonatal monitoring devices are further categorized into ultrasound fetal doppler, internal fetal monitor, and intrauterine pressure catheters. Respiratory monitoring devices are further segmented into capnograph, spirometer, sleep apnea monitor, and pulse oximeter. Multiparameter monitoring devices are further categorized into high, mid, and low acuity. Based on end user, the market is categorized into three segments—hospitals & clinics, home settings, and ambulatory surgical centers. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global patient monitoring devices market is driven by increase in the geriatric population, growth in the prevalence of patients suffering from different lifestyle diseases, and rise in the adoption rate of remote patient monitoring devices. However, the cost associated with this technology and issues related to government regulations & reimbursements are expected to hamper the global market growth. With the advancements in wireless technology, these devices are used to remotely monitor the physiological parameters of the patients, such as blood glucose level, blood pressure, heart rate, and provide appropriate treatment to the patients.
The growth in competition has led to collaborations and product launches by key players in the patient monitoring devices market. Moreover, Nihon Kohden announced the launch of the advanced bedside monitor called BSM-3500. These monitors are designed to meet the needs of ambulatory surgery and specialty centers. BSM-3500 monitors help provide a range of standard monitoring facilities and many critical capabilities in low acuity settings.
KEY MARKET BENEFITS
- The global patient monitoring devices market report provides an extensive analysis of the current market trends and future estimations in the market.
- The market scenario is comprehensively analyzed with respect to the product and end users.
- The market estimations are based on high-end analysis of the key developments.
- Recent developments and key manufacturers are listed to understand the competitive market scenario.
- In-depth analysis based on region provides an understanding of the regional market, which assists in strategic business planning.
KEY PLAYERS PROFILED
- Medtronic, Inc.
- Biotronik
- F. Hoffmann-La Roche Ltd.
- GE Healthcare Ltd.
- Masimo Corporation
- Nihon Kohden Corporation
- Johnson and Johnson
- Omron Healthcare Co. Ltd.
- Abbott Laboratories
- Koninklijke Philips N.V.
KEY MARKET SEGMENTS
By Product Type
- Hemodynamic Monitoring Devices
o Cholesterol
o Blood Gas & Electrolyte Analyzers/Monitors
o Blood Pressure
- Neuromonitoring Devices
o Magnetoencephalograph (MEG) Devices
o Intracranial Pressure Monitors (ICP)
o Transcranial Dopplers (TCD)
o Cerebral Oximeters
- Cardiac Monitoring Devices
o Implantable Loop Recorders (ILR)
o Cardiac Output Monitoring (COM) Devices
o Event Monitors
- Fetal & Neonatal Monitoring Devices
o Internal Fetal Monitors
- Respiratory Monitoring Devices
o Anesthesia Monitors
o Spirometers
o Pulse Oximeters
o Sleep Apnea Monitoring Devices
- Multiparameter Monitoring Devices
o Mid Acuity
o Low Acuity
- Remote Patient Monitoring Devices
- Weight Monitoring Devices
- Temperature Monitoring Devices
By End User
- Hospitals & Clinics
- Home Settings
- Ambulatory Surgical Centers (ASC)
By Region
- North America
o Canada
o Mexico
- Europe
o UK
o France
o Spain
o Italy
o Russia
o Rest of Europe
- Asia-Pacific
o China
o Australia
o India
o South Korea
o Taiwan
o Rest of Asia-Pacific
- LAMEA
o Turkey
o Venezuela
o Republic of South Africa
o Saudi Arabia
o Rest of LAMEA
The other players of the catheters market include (companies not profiled in the report):
- Honeywell International Inc.
- Siemens Healthcare
- Lifewatch AG
- Care Innovations, LLC.
- St. Jude Medical, Inc.
- Smiths Medical
Frequently Asked Questions about the Global Patient Monitoring Devices Market
What is the estimated value of the Global Patient Monitoring Devices Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 267 |
| Published | March 2019 |
| Forecast Period | 2017 - 2025 |
| Estimated Market Value ( USD | $ 21127.3 million |
| Forecasted Market Value ( USD | $ 32435.8 million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Table of Contents
Chapter 1: INTRODUCTION
Chapter 2: EXECUTIVE SUMMARY
Chapter 3: MARKET OVERVIEW
Chapter 4: PATIENT MONITORING DEVICES MARKET, BY PRODUCT TYPE
Chapter 5: PATIENT MONITORING DEVICES MARKET, BY END USER
Chapter 6: PATIENT MONITORING DEVICES MARKET, BY GEOGRAPHY
Chapter 7: COMPANY PROFILES
Executive Summary
According to this report titled, 'Patient Monitoring Devices Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2017 - 2023,' the patient monitoring devices market size accounted for $22,641 million in 2017, and is estimated to reach $37,187 million by 2025, registering a CAGR of 6.4% from 2018 to 2025. The cardiac monitoring devices segment accounted for one-third of the global patient monitoring devices market share in 2017, and is expected to maintain its dominance throughout the analysis period.Patient monitoring devices are utilized to observe and evaluate the vital physiological parameters of critically ill patients. These are used in emergency, operating rooms, and intensive care units. Different physiological parameters, such as heart rate, oxygen level, and blood glucose level, are assessed with the help of these devices. Patient monitoring devices are used in an inpatient and outpatient setting, such as emergency medical services and transport, owing to the advancements in patient monitoring technology.
The major factors that boost the market include ease of use, portability of device, increase in the aging population, and growth in the prevalence of patients suffering from various lifestyle diseases, such as obesity, chronic liver diseases, and stroke. In addition, the introduction of breakthrough patient monitoring devices is expected to supplement the market growth. However, the cost associated with this technology and issues related to government regulations & reimbursements are expected to hamper the global market growth. Furthermore, the technological advancements in these devices and the presence of untapped market in the developing region are expected to open new avenues for the growth of the patient monitoring devices market.
Based on product type, the patient monitoring devices market is categorized into hemodynamic, neuromonitoring, cardiac, fetal & neonatal, urine output monitoring, respiratory, multiparameter, remote patient, weight, and temperature monitoring devices. Cardiac monitoring devices are further divided into electrocardiogram devices, Holter monitors, event monitors, and others (implantable loop recorders, cardiac output monitoring devices, and others). The cardiac monitoring devices segment dominated the global market in 2017, and is expected to continue its dominance throughout the forecast period. These are attributed to the various applications of the cardiac monitoring devices for cardiovascular surgeries and its ability to monitor the severity of range of cardiovascular diseases. However, this segment is estimated to grow at the highest rate, owing to the growth in popularity of the advantages in this segment.
Patient monitoring devices are most commonly and widely used in hospitals & clinics for various procedures. Thus, it is the dominant end user segment of the patient monitoring devices market and is expected to maintain its market position throughout the forecast period. As there is a rise in popularity of self-monitoring devices, home setting segment is anticipated to be the fastest growing segment.
In 2017, North America and Europe possess the highest growth potential due to established reimbursement policies, high buying power, rapid adoption of remote patient monitoring devices, rise in the geriatric population, and increase in prevalence of patients with lifestyle diseases. However, the patient monitoring devices market is expected to gain traction in the developing regions of Asia-Pacific and Latin America, due to the increase in urbanization & disposable income, growth in awareness about patient monitoring devices, and large number of undiagnosed patients.
Key Findings of the Patient Monitoring Devices Market:
The intracranial pressure monitor segment is estimated to exhibit a CAGR of 8.3%.
U.S. was the largest economy market in 2017, and is anticipated to maintain its dominance until 2025.
The remote patient monitoring devices segment is anticipated to be the fastest growing segment throughout the analysis period.
Electronic fetal monitoring devices market is projected to grow at a CAGR of 7.6%.
China is the fastest growing segment in the Asia-Pacific region, registering a CAGR of 9.6%
The key companies profiled in the report of patient monitoring devices market include Medtronic, Inc., Biotronik, F. Hoffmann-La Roche Ltd., GE Healthcare Ltd., Masimo Corporation, Nihon Kohden Corporation, Johnson & Johnson, Omron Healthcare Co. Ltd., Abbott Laboratories, and Koninklijke Philips N.V.
The other players in the value chain of the patient monitoring devices industry include Honeywell International Inc., Siemens Healthcare, Lifewatch AG, Care Innovations, LLC., Smiths Medical, and St. Jude Medical, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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