Global patient monitoring devices market will reach USD 24,762 Million by 2020 growing at a CAGR of 5.6% during the forecast period (2015–2020).
Driving factors of patient monitoring market include growing population size of elderly, rising incidences of unhealthy lifestyle, and technological developments like portability of equipment. The cardiac monitors segment had largest share in 2015 of total patient monitoring devices market, whereas neuromonitoring devices segment will be fastest growing segment by 2020.
On basis of products, patient monitoring devices market is segregated into nine main segments, namely, hemodynamic, neurology, cardiac, respiratory, fetal & neonatal, multiparameter, remote patient monitors, temperature, and weight management monitors. Respiratory monitors segment is also expected to grow at a high pace. This growth can be attributed to rising incidences of obstructive sleep apnea and the rising alternate uses of capnographs. Remote patient monitoring (RPM) devices segment is expected to grow at a fast pace majorly driven by government regulations to control rising healthcare costs. Technological innovations and developments of products are contributing to market growth of RPM devices.
Browse 160 market data tables & 87 figures spread through 204 pages and in-depth TOC on "Patient Monitoring Device/Equipment/System Market" at http://www.rnrmarketresearch.com/patient-monitoring-device-equipment-system-market-by-product-blood-glucose-eeg-ecg-capnography-spirometer-sleep-apnea-pulse-oximeter-fetal-doppler-multiparameter-remote-weight-temperat-market-report.html .
North America accounted for the highest share in 2015 and is poised to grow from 2015 to 2020. The major growth factors contributing to the growth of the North America market are the aging population and lifestyle diseases that are further adding to the overall prevalence of chronic diseases. Europe was the second leading contributor to the patient monitoring devices market in 2015. However, the growth of this region is expected to be sluggish in the forecast period and is estimated to grow at a lower CAGR, due to factors such as uneven reimbursement policies, declining birth rates, and reduced number of beds in hospitals. APAC is the most promising region for patient monitoring devices in the coming five years. It is expected to grow at a higher CAGR over the forecast period. High population base and improved purchasing power of patients will be the major drivers of this market. Moreover, the economic instability in the western countries enables the companies to focus on the APAC region in order to meet their revenue targets.
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Attributed to the Rising Prevalence of Neuro-degenerative Diseases, the Patient Monitoring Market in the Neuromonitoring Segment Will Be the Fastest Growing Segment in the NextFive Years. Key players in the patient monitoring devices market are Abbott Laboratories (U.S), GE Healthcare (U.K.), Nihon Kohden (Japan), Omron Healthcare (Japan), Philips Healthcare (Netherlands) and Roche Diagnostics Limited (Switzerland).
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