According to the new market research report “Patient Monitoring Devices Market by Product (EEG, MEG, TCD, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitoring, MCOT, ECG, ICP, ILRs, Blood Glucose Monitoring, Blood Pressure Monitor), End-User (Hospitals, ASCs) – Global Forecast to 2025″, published by MarketsandMarkets™, the Patient Monitoring Devices Market is projected to reach USD 55.1 billion by 2025 from USD 36.4 billion in 2020, at a CAGR of 8.6% during the forecast period.Browse in-depth TOC on “Patient Monitoring Devices Market”328 – Tables39 – Figures354 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=678The growth of this market is mainly driven by the growing number of hospitals across major markets, increasing awareness about vital parameter monitoring for treatment and diagnosis of chronic diseases coupled with the increasing adoption of wearable and wireless patient monitoring devices for homecare.
Moreover, rising R investments by the key players operating in the market to develop advanced monitoring devices coupled with growing funding & grants for commercialization and development of monitoring devices are other important factors to drive the market growth in the near future.As a result of the pandemic, during March 2020 and throughout the second quarter of 2020, access to customers to sell and implement the patient monitoring devices (such as neuromonitoring devices, weight monitoring devices) diminished as hospitals became primarily focused on the COVID-19 pandemic.
COVID-19 has led to a significant surge in demand for patient monitoring systems, and manufacturers are increasingly focusing on expanding production to meet the increasing need for respiratory monitoring devices, multi-parameter monitoring devices, blood glucose monitoring devices, cardiac monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, and fetal/neonatal monitoring devices.The ECG devices sub segment of cardiac monitoring devices products to hold major market share by 2025Based on the product, the patient monitoring device market is segmented into blood glucose monitoring systems, cardiac monitoring devices, multiparameter monitoring devices, respiratory monitoring devices, temperature monitoring devices, hemodynamic/pressure monitoring devices, fetal and neonatal monitoring devices, neuromonitoring devices, weight monitoring devices and other patient monitoring devices.
Other factors supporting market growth include the low cost of ECG devices and the simplicity, easy-to-access nature, and compact & ergonomic design of these devices.Based on product, the blood glucose monitoring systems segment is expected to account for the largest share of the patient monitoring devices market in 2019Based on type, the blood glucose monitoring systems market has been segmented into the self-monitoring blood glucose systems and continuous glucose monitoring system.
Many manufacturers offer smartphone-connected meters that allow information transfer using Bluetooth.Request for sample pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=678North America is expected to dominate the global patient monitoring market in 2019North America, comprising the US and Canada, accounted for the largest share of the patient monitoring devices market in 2019.
This trend will have a positive impact on the market.Abbott Laboratories (US), HILL-ROM HOLDINGS, INC. (US), Drägerwerk AG & Co. KGaA (Germany), Edwards Lifesciences Corporation (US), OMRON Corporation (Japan), Masimo Corporation (US), Compumedics Limited (Australia), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Nihon Kohden Corporation (Japan), Natus Medical (US), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Getinge AB (Sweden), Boston Scientific Corporation (US), Dexcom, Inc. (US), Nonin (US), BIOTRONIK (Germany), SCHILLER (Switzerland), and BioTelemetry, Inc. (US), among othersare some of the major players operating in the global patient monitoring devices market.Browse Adjacent Markets: Medical Devices Market Research Reports & ConsultingBrowse Related Reports:Respiratory Care Devices Market by Product (Therapeutic (Ventilator, Mask, PAP Device, Inhaler, Nebulizer), Monitoring (Pulse Oximeter, Capnograph), Diagnostic, Consumables), End-User (Hospital, Home Care), Indication – Global Forecast to 2025https://www.marketsandmarkets.com/Market-Reports/respiratory-care-368.htmlCardiac Monitoring & Cardiac Rhythm Management Devices Market By Product CM (ECG (Holter Monitor), ILR, Event Monitor)), CRM ((Defibrillator (ICD) External (AED)), Pacemaker (CRT P, Dual Chamber Pacemaker)), End User – Global Forecast to 2025https://www.marketsandmarkets.com/Market-Reports/cardiac-monitoring-advanced-technologies-and-global-market-55.htmlAbout MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.