Patient Monitoring Devices Global Market - Forecast to 2027

Patient monitoring devices assist in continuous measurement of a patient’s health parameters such as heart rate, respiratory rate, blood pressure, blood oxygen saturation and many other parameters which have become a common feature of all healthcare settings.

New York, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Patient Monitoring Devices Global Market - Forecast to 2027" - https://www.reportlinker.com/p05949300/?utm_source=GNW


The Patient monitoring global market is expected to grow at a mid single digit CAGR fom 2020 to 2027 to reach $42,974.9 million by 2027. The increase in the rate of surgeries and diseased population requires continuous monitoring, increasing demand for portable and remote patient monitoring and increasing funding and investment in patient monitoring are driving the market growth. However, the high cost of patient monitoring devices, stringent regulatory approvals for products, Patient safety and inaccuracy concerns associated with patient monitoring devices, increased product recalls are restraining the market growth.

The patient monitoring devices global market is segmented based on device, portability, end-users and geography. The devices market is segmented into neuromonitoring, hemodynamic monitoring, blood glucose monitoring, cardiac monitoring, fetal & neonatal care monitoring, respiratory care monitoring, multi-parameter monitoring, temperature monitoring and remote patient monitoring. According to the research, Blood glucose monitoring commanded the largest revenue in 2020 and expected to grow at a low single digit CAGR from 2020 to 2027. Remote patient monitoring is expected to grow at a high single digit CAGR from 2020 to 2027 due to increasing demand by patients for home healthcare and increasing connectivity of rural areas.

The neuromonitoring devices global market is further segmented into electroencephalography (EEG) devices, cerebral oximeters, intracranial pressure (ICP) monitors, magnetoencephalography (MEG) and electromyography machines (EMG). Among them, the EEG devices segment commanded the largest revenue in 2020 is expected to grow at a high single digit CAGR from 2020 to 2027. Increasing the incidence of neurological diseases, expansion of application to new areas such as pain monitoring are the factors driving the market growth.

The hemodynamic monitoring devices global market is classified into Blood pressure monitors and cardiac output monitors. Among them, the Blood pressure monitoring devices commanded the largest revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027. An increase in the incidence of cardiovascular diseases due to lifestyle changes and rising demand for patient monitoring devices in non-hospital settings are the factors driving the market.

The blood glucose monitoring devices global market is classified into SBGM and CGM. Among the segments, CGM generated the largest revenue in 2020 and is expected to grow at a high single digit CAGR from 2020 to 2027.

The cardiac monitoring device global market is further segmented into event monitors, 12-Lead ECG and Holter monitors, among these, Holter monitor commanded the largest revenue in 2020 and expected to grow at a mid single digit CAGR from 2020 to 2027. Event Monitors market is expected to grow at a high single digit CAGR from 2020 to 2027.

The fetal and Neonatal device global market is classified into fetal monitors, fetal Doppler, infant incubators and neonatal monitoring devices. Among these, fetal monitors commanded the largest revenue in 2020 and expected to grow at a low single digit CAGR from 2020 to 2027. Infant Incubators market is expected to grow at a mid single digit CAGR from 2020 to 2027.

The respiratory care monitoring devices global market is classified into capnography, spirometer, Polysomnography (PSG), Pulse oximetry and others. Among these, Pulse oximeter commanded the largest revenue in 2020 and is expected to grow at a low single digit CAGR from 2020 to 2027. Rising incidence of respiratory and cardiac disorders, rising adoption in homecare settings, growing demand for wireless pulse oximeters and launch of convenient fingertip and wrist pulse oximeters are the factors driving the market. The Capnography devices segment is expected to grow a high single digit CAGR from 2020 to 2027.

The Multi-parameter monitoring devices global market is segmented into High acuity, Mid-acuity, and Low-acuity devices. Among the multi-parameter monitoring devices, high acuity devices commanded the largest revenue in 2020 and expected to grow at a low single digit CAGR from 2020 to 2027. The integration of advanced technology within the high-acuity multi-parameter patient monitors has fostered its adoption in intensive care units and hospitals that help in the treatment of several chronic diseases are the factors driving the market and low acuity segment is expected to grow at a low single digit CAGR from 2020 to 2027. Low-acuity monitors usually have a high preference in ambulatory surgical centers and hospitals because they are easy to use, accurate, mobile and low price as compared to the high-acuity multi-parameter patient monitors are making the device of choice.

The temperature monitoring devices global market is classified into digital thermometers, Infrared (IR) thermometers, and others (thermometer strips). Among them, the IR thermometer commanded the largest revenue in 2020 and is expected to grow at a strong mid single digit CAGR from 2020 to 2027. These devices do not involve touching or contacting anybody’s surface so the risk of cross-infection is negligible, the increasing prevalence of chronic and infectious diseases driving the market as well.

The remote patient monitoring (RPM) devices are classified into hemodynamic monitoring devices, neuromonitoring devices, cardiac monitoring devices and multi-parameter monitoring devices and others. Among these, the Cardiac monitoring segment commanded the largest revenue in 2020 and is expected to grow at a high single digit CAGR from 2020 to 2027. An increase in the prevalence of the cardiac disorder, an increase in the prevalence of the geriatric population who are more prone to chronic disorders are the factors that increase the usage of RPM devices. Other remote patient monitoring devices such as remote respiratory monitoring devices and home dialysis devices are expected to be the fastest-growing segment with a high double digit CAGR from 2020 to 2027.

The patient monitoring devices global market is further segmented based on the portability into stationary, portable, wearable and implantable. Among these, portable commanded the largest revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027.

The patient monitoring devices global market based on end-user is segmented into hospital, ambulatory, homecare and others. Among these, the hospital commanded the largest revenue in 2020 and is expected to grow at a low single digit CAGR from 2020 to 2027. The home care market is expected to be the fastest-growing segment with a mid single digit CAGR from 2020 to 2027 due to the improvement and acceptance of home care devices has increased.

The market based on geographies is segmented into North America, Europe, Asia Pacific and the Rest of the world regions. Among these, North America commanded the largest share in 2020 and the market is expected to grow at a low single digit CAGR from 2020 to 2027. An increase in patient population and an increase in funding on developing patient monitoring devices are the factors driving the market. Asia Pacific is expected to grow at a mid single digit CAGR from 2020 to 2027.

Major players in the patient monitoring devices global market are Medtronic, PLC (Ireland), Dexcom, Inc. (U.S.), Masimo Corporation (Switzerland), Abbott Laboratories (U.S.), Nihon Kohden Corporation (Japan), Edwards Lifesciences Corporation (U.S.), GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Hill-Rom Holdings, Inc. (U.S.), Natus Medical, Inc. (U.S.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), and Dragerwerk AG & Co. KGaA (Germany).
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