Global Patient Monitoring Solutions Market is Anticipated to grow at a Significant Pace i.e., USD 38.95 Billion during the Forecast Period 2021-2027

Published Date: Oct, 2021

The global patient monitoring solutions market is expected to witness a CAGR of 7.8% during the forecast period. The patient monitoring solutions market is growing during the forecast period owing to the increasing burden of chronic diseases, changes in the lifestyle, increasing geriatric population, rising preference for home and remote monitoring, and convenience in using portability devices. Owing to collaboration between companies, hospitals, and academic institutes will provide the launch of new and innovative products, resulting in contribution towards and propels the market growth. However, the market is faced with certain challenges i.e., high technology cost, the risk involved in operating monitoring devices, lack of security of patient’s data, and information regarding health safety concerns. Nevertheless, rising demand for monitoring devices in non-hospital settings and rising investment in healthcare IT are promising opportunities in the global patient monitoring solutions market.

The COVID-19 outbreak has put a burden on the healthcare system and hospitals as they were understaffed and overworked. The patient monitoring devices are witnessing significant growth during the COVID crisis. Furthermore, patient monitoring devices like ventilators are used in monitoring the critically ill COVID-19 patients, resulting in the growth of the patient monitoring solutions market.

Boston Scientific Corporation agreed to acquire Preventice Solutions, Inc., a privately held company offering remote and wearable cardiac monitors for adults and pediatric patients. The acquisition will establish a strong footprint of Boston Scientific Corporation in the implantable cardiac monitor market.

Browse 53 market data Tables and 35 Figures spread through 200 Pages and in-depth TOC on " Patient Monitoring Solutions Market by Product (Hemodynamic Monitoring Devices, Cardiac Monitoring Devices, Respiratory Monitoring Devices, Neuromonitoring Devices, Diabetes Monitoring Devices, Temperature Monitoring Devices, Fetal & Neonatal Monitoring Devices, Multiparameter Monitoring Devices, Remote Patient Monitoring Devices, and Weight Monitoring Devices), by Application (Hematology, Cardiology, Respiratory, Neurology, Metabolics, and Temperature), by End-User (Hospitals & Clinics, Home Settings, Ambulatory Surgical Centers (ASCs), and Others), and Region - Global Forecast to 2027"

By end-user, the hospital segment is projected to witness the largest market share during the forecast period.

Based on end-user, the global patient monitoring solutions market is segregated into hospitals & clinics, home settings, ambulatory surgical centers (ASCs), and others. The hospital segment is anticipated to hold the largest share during the forecast period 2021-2027 owing to the increasing focus on diagnosis, treatment, and providing care to the patients accurately and continuously. Moreover, with rising procedural volumes, increasing surgical facilities, hospitals are the safest treatment place owing to the availability and innovation in the latest technologies, resulting in the growth of the global patient monitoring solutions market.

Global Patient Monitoring Solutions Market Segmentation Analysis

Segment

Categorization

Leading Category

Product

Hemodynamic Monitoring Devices, Cardiac Monitoring Devices, Respiratory Monitoring Devices, Neuromonitoring Devices, Diabetes Monitoring Devices, Temperature Monitoring Devices, Fetal & Neonatal Monitoring Devices, Multiparameter Monitoring Devices, Remote Patient Monitoring Devices, and Weight Monitoring Devices

Cardiac Monitoring Devices (Fastest)

Hemodynamic Monitoring Devices (High CAGR)

Application

Hematology, Cardiology, Respiratory, Neurology, Metabolics, and Temperature

Cardiology (Fastest)

End-User

Hospitals & Clinics, Home Settings, Ambulatory Surgical Centers (ASCs), and Others

Hospitals & Clinics (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“North America dominates the market in 2020.”

North America dominates the market owing to the rising geriatric population, rising demand for wireless and portable systems, launch of innovative products, presence of sophisticated reimbursement structures, and huge threat of coronavirus will positively impact the patient monitoring solutions market in the region.

Some of the major players in the global patient monitoring solutions market include Medtronic, GENERAL ELECTRIC, Koninklijke Philips N.V., Abbott, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, Boston Scientific Corporation, Edwards Lifesciences Corporation, OMRON Corporation, and Getinge AB.

Scope of the Report

 

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Tow Vehicle Type, Service Provider, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Medtronic, GENERAL ELECTRIC, Koninklijke Philips N.V., Abbott, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, Boston Scientific Corporation, Edwards Lifesciences Corporation, OMRON Corporation, and Getinge AB

Global Patient Monitoring Solutions Market Coverage

Product Insight and Forecast 2015-2027

  • Hemodynamic Monitoring Devices
  • Cardiac Monitoring Devices
  • Respiratory Monitoring Devices
  • Neuromonitoring Devices
  • Diabetes Monitoring Devices
  • Temperature Monitoring Devices
  • Fetal & Neonatal Monitoring Devices
  • Multiparameter Monitoring Devices
  • Remote Patient Monitoring Devices
  • Weight Monitoring Devices

Application Insight and Forecast 2015-2027

  • Hematology
  • Cardiology
  • Respiratory
  • Neurology
  • Metabolics
  • Temperature

End-User Insight and Forecast 2015-2027

  • Hospitals & Clinics
  • Home Settings
  • Ambulatory Surgical Centers (ASCs)
  • Others

Geographical Segmentation

Patient Monitoring Solutions Market by Region

North America

  • By Product
  • By Application
  • By End-User
  • By Country – U.S., Canada, and Mexico

Europe

  • By Product
  • By Application
  • By End-User
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Product
  • By Application
  • By End-User
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Product
  • By Application
  • By End-User
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Patient Monitoring Solutions Market is Anticipated to grow at a Significant Pace i.e., USD 38.95 Billion during the Forecast Period 2021-2027