Patient Monitoring Devices Global Market Report 2022

Patient Monitoring Devices Global Market Report 2022

  • May 2022 •
  • 250 pages •
  • Report ID: 6277154 •
  • Format: PDF
Major companies in the patient monitoring devices market include General Electric Company, Koninklijke Philips N.V., Draegerwerk AG, Cardinal Health, Inc., Masimo, Stryker Corporation, Medtronic Inc., Edwards Lifesciences, Flex Ltd, and Nihon Kohden Corporation.

The global patient monitoring devices market is expected to grow from $21.1 billion in 2021 to $23.55 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The market is expected to grow to $35 billion in 2026 at a compound annual growth rate (CAGR) of 10.4%.

The patient monitoring devices market consists of 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.

The main types of patient monitoring devices market are fetal and neonatal monitoring devices, weight monitoring and body temperature monitoring devices and equipment, vital parameter monitoring devices and equipment, and remote patient monitoring devices and equipment.Fetal and neonatal monitoring devices measure the heart rate and rhythm of the baby (fetus).

This lets the healthcare providers see how the baby is doing.The type of expenditure is public and private.

The products used are instruments/equipment and disposables. The end-users are hospitals and clinics, diagnostic laboratories, and others.

Asia Pacific was the largest region in the global patient monitoring devices market in 2021.North America was the second-largest region in the global patient monitoring devices market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The demand for monitoring devices is likely to increase due to the shortage of professionals in the healthcare services industry. According to a report by Mercer, the US requires 2.3 million new health care workers by 2025; this includes nurses, physicians, lab technicians, and various other healthcare personnel. This shortage is likely to drive the demand for monitoring systems as these devices allow medical professionals to track multiple patients remotely. This is expected to drive the market for patient monitoring devices in the forecast period.

Awareness of diseases is low in many countries across the globe and this affected the demand for patient monitoring devices in the historic period. For instance, a study conducted by the Indian Council of Medical Research (ICMR) on 213 million people found that only 43.2% are aware of the chronic disease diabetes. This lack of disease awareness limited the diagnosis and treatment pool, thereby restricting market growth for patient monitoring devices.

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 is predominantly beneficial for tracking the health status of critically ill patients.

The countries covered in the patient monitoring devices market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.