The “Patient Monitoring Systems Market (2011 - 2016) - Global Trends, End-user & Value-Volume Analysis” analyzes and studies the major market drivers, restraints, and opportunities in regions such as North America, Europe, APAC, and Rest of the world.
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The patient monitoring systems market was worth $14.2 billion in the year 2011 and is expected to grow at a CAGR of 5.9% from 2011 to 2016 to reach $18.9 billion. Hemodynamic segment has the largest share (26.2%) followed by cardiac (23.2%) in the year 2011.
The global patient monitoring devices market is driven by increasing number of geriatric population, rising incidences of lifestyle diseases, home and remote monitoring and portability of devices. The opportunities for companies already present in this market as well as a new entrant are huge. The future is going to be wireless, non-invasive and remote monitoring. With rising awareness of home monitoring and government implementing strict policies to reduce patient stay in hospitals, this market is poised to grow at a decent pace. Companies are forming joint-ventures and collaborations to exploit the partner’s core competencies and create innovative products to suit the needs of the patients.
Patient healthcare monitoring devices consist of equipments and technologies which assist physicians and medical practitioners in providing critical data on patients health status by measuring multiple parameters within the body such as blood pressure, oxygen concentration, heart beat rate, cardiac output, temperature, neural responses, reflexes, etc. These devices act as warning alarms to indicate any sudden lethal and non-lethal changes within the body.
Hospitals form a major share of end-users for this market; however, in the future home monitoring will prevail for some of the major equipment segments. Some other devices can be either used only in the operation theaters or ICUs or are very expensive, hence can only be used in a hospital set-up.
The key players in the patient monitoring systems market are Philips Healthcare (The Netherlands), GE Healthcare (UK), Omron Healthcare (Japan), Draeger Medical (Switzerland), MindRay Medical (China), Nihon Kohden (Japan), Masimo (U.S.), Covidien (Ireland), CareFusion (U.S.), Welch Allyn (U.S.), and Schiller AG (Switzerland) to name a few.