The Patient Monitoring Devices Market size is projected to reach a CAGR of 6.9% 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), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) and Forecast to 2028
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Patient monitoring systems are used to measure, record, distribute and display combinations of biometric values such as heart rate, blood oxygen saturation levels (SPO2), blood pressure, and temperature. They are used for monitoring patients regularly, which can help avoid serious problems.
Integration of monitoring technologies in smartphones and wireless devices is a key trend in patient care, resulting in the introduction of remote monitoring systems, mobile cardiac telemetry devices, mobile personal digital assistant (PDA) systems, ambulatory wireless EEG recorders, and ambulatory event monitors are some of the factors that have supported long-term expansion for Patient Monitoring Devices Market.
Recent Developments
In 2020, Medtronic received the US FDA approval for its LINQ II Insertable Cardiac Monitor (ICM). It is implantable devices for determining the irregular heart rythm.
In 2020, Medtronic and Tandem Diabetes Care, Inc underwent patent cross-license agreement, as per which both companies can cross-license each other’s patent portfolio for five years and jointly focus on innovating new products and services for diabetes management.
Regional Analysis of Patient Monitoring Devices Market:
North America commanded the largest share of the patient monitoring devices market during the forecast period. The increasing R&D to develop novel sensor-based patient monitoring systems, rising prevalence of infectious diseases, safety concerns, and technological advancements in patient monitoring devices products are the key factors supporting market growth in North America.
Key Players of Patient Monitoring Devices Market:
· 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. and More
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Patient Monitoring Devices Market is segmented into product, end-user and region.
On the basis of Product
· Blood Glucose Monitoring System
· Cardiac Monitoring Devices
· Respiratory Monitoring Devices
· Temperature Monitoring Devices
· Hemodynamic/Pressure Monitoring Devices
· Fetal & Neonatal Monitoring Devices
· Neuromonitoring Devices
· Weight Monitoring Devices
· Other Patient Monitoring Devices
On the basis of End-User
· Hospitals
· Ambulatory Surgery Centers
· Home Care Settings
· Other End Users
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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