Patient Monitoring Devices Market Will Achieve Over 5% CAGR Up to 2025: Global Market Insights, Inc.

SELBYVILLE, Del., October 23, 2019 (Newswire.com) - ​The Patient Monitoring Devices Market value will register more than 5% CAGR to cross USD 27 billion by 2025; according to a new research report by Global Market Insights, Inc. Growing number hospital admissions due to increasing prevalence of chronic diseases will prove beneficial for patient monitoring devices industry growth in coming years. Elderly people suffering from chronic diseases are admitted in hospitals for prolonged duration and require continuous monitoring on various parameters. Monitoring devices enable doctors to monitor multiple patients on numerous parameters through central surveillance systems.

Evolving digital technologies powering monitoring devices have influenced the operational costs and made them more effective. They have also reduced the need of hiring a permanent skilled staff member to interpret data for the customers. According to a research in University in Chicago, use of continuous glucose monitors (CGM) is extremely cost effective for adult patients suffering from Type 1 diabetes compared to just using test strips daily. The devices reportedly improve glucose control and result in reduced low blood sugar incidents, endorsing the products offered by patient monitoring devices industry players.

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Wireless patient monitoring devices market is slated to register a CAGR of 5% over the forecast period, as the products help physicians examine several patients simultaneously and remotely. A professor at the Massachusetts Institute of Technology has developed a device called Emerald that analyzes the surrounding radio signals via machine learning algorithms. The device can extract several physiological metrics that are related to mobility, sleep stages, breathing, sleep apnea, gait and others. The innovation undoubtedly represents a widespread scope for monitoring devices in healthcare.

Anesthesia monitor segment was valued around USD 1 billion in 2018 and it will witness lucrative growth in forthcoming future. Increasing surgical procedures across the globe will prove beneficial for the business growth. Anesthesia monitors are used during operations to track patient?s vital signs such as blood pressure, oxygen saturation and temperature. Additionally, anesthesia patient monitoring devices are installed in recovery room to monitor real time data of patients requiring critical care. Thus, increasing number of surgical procedures requiring critical monitoring of vital parameters will rise the demand for anesthesia monitoring devices thereby escalating the segment growth.

Browse key industry insights spread across 140 pages with 107 market data tables & 9 figures & charts from the report, “Patient Monitoring Devices Market By Type (Conventional, Wireless), By End-use (Hospitals, ASCs, Homecare Settings), By Product (Cardiac Monitoring Devices {ECG Devices, Implantable Loop Recorders, Mobile Cardiac Telemetry Monitors, Smart Wearable ECG Patches}, Neuromonitoring Devices {EEG devices, Cerebral Oximeters, Intracranial Pressure Monitors, EMG Devices}, Respiratory Monitoring Devices {Pulse Oximeters, Spirometers, Capnographs, Peak Flow Meters} Anesthesia Monitor, Hemodynamic Monitoring Devices, Fetal and Neonatal Monitoring, Multiparameter devices), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, India, China, Japan, Australia, South Korea, Brazil, Mexico Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/patient-monitoring-devices-market

Hospitals segment accounted for more than 41% revenue share in 2018 and it will witness substantial growth over the analysis period. Public hospitals in both developed and developing economies receive funds from government for installation of patient monitoring equipment.  Government funds ensures availability of superior quality monitoring equipment in the public hospitals. Thus, government initiatives along with increasing number of hospital admissions should augment segmental growth in forthcoming years.

Patient Monitoring Devices Market Statistics, By End-use

1.1. Key segment trends

1.2. Hospitals
1.2.1. Market size, by region, 2014-2025 (USD Million)

1.3. Ambulatory Surgical Centers (ASCs)
1.3.1. Market size, by region, 2014-2025 (USD Million)

1.4. Homecare settings
1.4.1. Market size, by region, 2014-2025 (USD Million)

1.5. Others
1.5.1. Market size, by region, 2014-2025 (USD Million)

Change in lifestyle, increased consumption of junk food and lack of physical exercise has increased the occurrence of serious health conditions in North America, like endocrine disorders, high cholesterol levels and cardiovascular diseases. The region will prove to be a lucrative target market for monitoring device manufacturers due to a massive healthcare expenditure and favorable health insurance policies. In fact, North America patient monitoring devices industry size is slated to grow by more than 4% over the project years.

Europe patient monitoring devices market was valued around USD 5 billion in 2018 and will witness substantial growth in coming years. Increasing number of baby boomers susceptible to chronic diseases in Europe region will positively impact the demand for patient monitoring devices. Elderly population relies on telehealth services provided by remote patient monitors devices. Moreover, positive regulatory scenario the industry should escalate the regional growth in forthcoming years.

Some of the notable industry players operational in the patient monitoring devices market are Fukuda, Philips, Skanray Technologies, Medion Healthcare, Siemens Healthineers, Nihon Kohden, GE Healthcare, Epsimed, OSI Systems, Sensata Technologies, Mindray, Hill-Rom Holdings and Medtronic. 

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Browse Related Reports:

Multiparameter Patient Monitoring Market Forecasts 2025: Portable monitors will witness 3.8% growth from 2019 to 2025. Portable multiparameter monitors developed by key industry players have improved accuracy and enables rapid recovery. These technologically advanced portable devices are useful in ambulances and clinics as mobility of monitors proves beneficial for patient monitoring. Key industry players in global market includes Epsimed, KizlonMedical, Mediana, Medion Healthcare, Medtronics, Mindray, Masimo, Opto India, OSI Systems, Philips Healthcare, Skanray Technologies, Spacehealth Labs and VOTEM.

https://www.gminsights.com/industry-analysis/multiparameter-patient-monitoring-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Source: Global Market Insights, Inc.