Apr 6 2015
Research and Markets has announced the addition of the "Patient Monitoring Global Market - Forecast to 2020" report to their offering.
The global patient monitoring devices market is expected to reach approximately $24 billion by 2019 growing at CAGR of around 8.0%. North America commands the largest share and is expected to register a healthy market share by 2019. APAC is going to be one of the prominent regions for this market in coming years driven by the increased purchasing power and rising population.
Patient monitoring devices market is mainly divided into following segments such as Hemodynamic, neurology, respiratory, Cardiology, fetal and neonatal, multi parameters, remote patient monitors, temperature and weight monitors.
Patient monitoring devices are requisite part of medical team for every procedure i.e. operating in a clinic or multi specialty hospitals. The reduction in size of the monitors over the years through contemporary technologies and rising adoption of telemetry and remote monitoring has increased the growth of the patient monitoring devices. Rising prevalence of neuro-degenerative diseases is expected to boost the adoption of patient monitoring devices in next 5 years. Moreover, the respiratory monitoring segment is projected to grow at a faster rate during the forecast period which in turn is enhancing the patient monitoring market. Cardiac monitoring segment commanded the largest share in global patient monitoring market for 2013 and is expected to maintain its strong share by 2019. The strong share is due to increasing demand for ECG (Electro Cardiogram) devices and increased rate of cardiac and other comorbid diseases such as diabetes and high blood pressure.
Some of the key players in this market are Abbott Laboratories (U.S.), GE Health care (U.K.), Johnson & Johnson, Inc. (U.S.), Covidien (Ireland), Mindray Medical (China), Philips Healthcare (Netherlands), Drager Medical GmbH (Germany), and Roche Diagnostics Limited (Switzerland).