Patient Monitoring Devices Global Market To Reach Value Of Almost $20.5 Billion In 2025
15 Jun, 2021
The patient monitoring devices market consists sales of patient monitoring devices and related services by entities (organizations, sole traders and partnerships) that produce patient monitoring devices used in monitoring vital health parameters.
Global Patient Monitoring Devices Market Size And Drivers:
The global patient monitoring devices market is expected to grow from $15.05 billion in 2020 to $15.72 billion in 2021 at a compound annual growth rate (CAGR) of 4.5%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $20.45 billion in 2025 at a CAGR of 7%. The demand for monitoring devices is likely to increase due to shortage of professionals in the healthcare services industry.
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Trends In The Global Patient Monitoring Devices Market
Patient monitoring device manufacturers are offering customized MPMs to cater to the growing patient pool. MPMs monitor different health parameters corresponding to patients’ health conditions. For instance, Infinium Medical’s Omni series monitors are preconfigured with ECG, oxygen saturation, non-invasive blood pressure and temperature trackers. More advanced health measures such as invasive blood pressure, cardiac output and anesthetic agent measurement can be added to this device when needed. Custom MPM are predominantly beneficial for tracking the health status of critically-ill patients.
Global Patient Monitoring Devices Market Segments:
The global patient monitoring devices market is further segmented based on type, end user, type of expenditure, product and geography.
By Type: Fetal And Neonatal Monitoring Devices, Weight Monitoring And Body Temperature Monitoring Devices And Equipment, Vital Parameter Monitoring Devices And Equipment, Remote Patient Monitoring Devices And Equipment
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others
By Type of Expenditure: Public, Private
By Product: Instruments/Equipment, Disposables
Sub-segments Covered: Fetal Monitoring Devices, Neonatal Monitoring Devices, Temperature Monitoring Devices, Weight Monitoring Devices, Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Hemodynamic Monitoring Devices, Multiparameter Monitoring Devices, Cardiac Monitors, Respiratory Monitors, Hematological Monitors, Vital Parameter Monitors And Others.
By Geography: The global patient monitoring devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global patient monitoring devices market, accounting for 34% of the market in 2020.
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Patient Monitoring Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides patient monitoring devices market overviews, analyzes and forecasts market size and growth for the global patient monitoring devices market, patient monitoring devices market share, patient monitoring devices market players, patient monitoring devices market segments and geographies, patient monitoring devices market’s leading competitors’ revenues, profiles and market shares. The patient monitoring devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.