MARKET OVERVIEW
Patient monitoring refers to the use of medical devices and technology to track a patient’s physiological and clinical parameters continuously or periodically. These devices track vital signs such as heart rate, blood pressure, oxygen levels, and temperature. Patient monitoring systems can be used in various settings, including hospitals, ambulatory care centers, and home healthcare environments. The patient monitoring market is expected to grow as the demand for remote monitoring and telemedicine increases, as well as an aging population and the need for more efficient and cost-effective healthcare delivery.
MARKET SCOPE
The "Global Patient Monitoring Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the patient monitoring market with detailed market segmentation by device, application, end user, and geography. The report provides key statistics on the market status of the leading patient monitoring market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on device, the global patient monitoring market is segmented into hemodynamic monitoring devices, remote patient monitoring devices, temperature monitoring devices, neuromonitoring devices, cardiac monitoring devices, respiratory monitoring devices, multi-parameter monitoring devices, and others.
- Based on application, the global patient monitoring market is segmented into cardiology, neurology, respiratory, fetal and neonatal, weight management and fitness monitoring, and others.
- Based on end user, the global patient monitoring market is segmented into home healthcare, hospitals and clinics, and others.
MARKET DYNAMICS
Drivers
- Increasing Burden of Chronic Diseases
- Increasing Product Launches
- Growing Preference for Home and Remote Monitoring
Restraints
- Lack of Awareness
- High Cost of Technology
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The patient monitoring market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions, namely, North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social, and technological factors affecting the patient monitoring market in these regions.
IMPACT OF COVID-19 ON PATIENT MONITORING MARKET
The COVID-19 pandemic has impacted all industries, including the patient monitoring market. The COVID-19 situation is expected to boost the demand for patient monitoring. The increasing hospitalization due to the pandemic is increasing the demand for patient monitoring systems. Many players ramped up their productions to meet the demand. For instance, in March 2020, Royal Philips ramped up the production of certain critical care products and solutions that help to detect and provide treatment for patients with COVID-19.
MARKET PLAYERS
The report covers key developments in the patient monitoring market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market payers from patient monitoring market are anticipated to have lucrative growth opportunities in the future with the rising demand for patient monitoring in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the patient monitoring market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.
- Philips Healthcare
- Smith’s Medical
- Medtronic
- GE HealthCare
- Omron Corporation
- Roche Diagnostics
- Boston Scientific Corporation
- Nihon Kohden Corporation
- Masimo Corporation
- Baxter International Inc