The patient monitoring devices industry manufactures equipment for measuring vital health parameters, such as heart rate, respiratory rate, blood pressure and body temperature. Patient monitors, also referred to as medical monitors or physiological monitors, typically consist of sensors, processing components, display devices and communication links.
Key players in the patient monitoring market are focusing on the development of customized MPMs. These devices can be personalized to match patients’ needs. They can monitor different health parameters corresponding to patients’ health conditions.
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The global patient monitoring devices market size has shown high growth in the past years with a CAGR of around 7%. The year 2017 recorded highest ever market value in this industry as per TBRC’s inhouse consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the patient monitoring devices market to grow at a higher CAGR by 2021 as compared to 2017.
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The prevalence of chronic diseases is increasing at a fast pace world-wide. According to a UN article, by 2030 the proportion of global deaths due to chronic diseases is expected to increase to 70% of total deaths. The global burden of chronic disease is expected to reach about 60%. Unhealthy lifestyles are the key factor for this expected high rise in chronic conditions. The increasing prevalence of chronic diseases will be a key driver for the vital parameter patient monitoring devices market during the forecast period.
The patient monitoring devices market is segmented into Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices, Multiparameter Monitoring Devices, Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Hemodynamic Monitoring Devices and Remote Health Patient Monitoring Devices market.
TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.
Top companies in the patient monitoring devices industry included in the report are Siemens Healthineers, Medtronic Plc., Philips Healthcare, GE Healthcare and Drägerwerk.
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