Global Patient Monitoring Devices Market with Forecast to 2027


Posted August 26, 2020 by prachitisharma98

The global Patient Monitoring Devices Market is segmented based on device, portability, end-users and geography

 
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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. 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 global Patient Monitoring Devices 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 IQ4I 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.

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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.

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Last Updated August 26, 2020