Overview:

Market Research Future (MRFR) in their detailed discussion on the patient monitoring devices market trends  revealed that the latest technological advents could ensure significant growth for the market in the coming years. Patient monitoring devices are much in demand owing to their prolific application in providing patients with care of the highest order. It does so by forecasting health and providing real-time data to physicians to help patients stay in shape. The segment consists several different tests such as glucose monitoring, blood monitoring, temperature monitoring, cholesterol monitoring, weight monitoring, etc. These devices are mostly wearable and use sensors for correct measurements of burnt calories, heart rate, and others. The market is now abuzz with fitness trackers as more and more people are adopting these technologies to keep an eye on their health to counter the recent problems posed by rapid industrialization and urbanization.

The demand for real-time information and predictive analysis is pushing the boundaries wider for the patient monitoring devices market. At the same time, the ability to produce quicker results is making these devices popular among the healthcare professionals owing to which the market can look into strategies to penetrate the healthcare sector further. The market is gaining much from the growing adoption of electronic devices as well. People are now more comfortable with digital devices which are creating a sound base for the patient monitoring devices market to operate. 

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Segmentation:

MRFR in their detailed analysis of the patient monitoring devices market segmented it by product type and end-user.

Based on the product type, the patient monitoring devices market can be segmented into central monitoring stations, portable bedside monitors, Electrocardiogram (ECG) devices, hemodynamic monitoring devices, fetal and neonatal monitors, respiratory monitors, weight management monitors, temperature monitoring devices, and others.

With a greater focus on the end-users, the patient monitoring devices market can be segmented into hospitals & clinics, ambulatory care centers, home care, and others. The hospitals & clinics segment own a substantial percentage of the global market. The home care segment is also gaining significant traction during the forecast period.

Regional Analysis:

Based on the geography, MRFR segments the global patient monitoring devices market into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The report consists both volume-wise and value-wise records of the region to facilitate the detailed analysis of the global market.

Excellent healthcare infrastructure in the Americas is all set to boost regional market growth. Technological advancement, substantial investment in the healthcare sector and research & development are factors that are ensuring further growth for the regional market in the coming years. At the same time, the tendency to adopt digitally-advanced technologies is helping the region considerably. North America is spearheading the regional development. Europe is following the lead closely all due to its similar infrastructure and tendencies like that of North America.

The APAC region has invested heavily in the AI technology and cloud mechanism owing to which a substantial growth for the regional market can be expected during the forecast period. Government regulations are also supportive, lending a good hand to the manufacturers in the process. In addition, the emergence of several regional economies as a medical tourism hub is promoting the market’s prospect.  

Competitive Landscape:

Influential companies of the global patient monitoring devices market are Abbott Laboratories, GE Healthcare, Spacelabs Healthcare, Honeywell International, Inc., Siemens Healthcare, Philips Healthcare, Roche Diagnostics, BIOTRONIK SE & Co. KG, CAS Medical Systems, Inc., Shenzhen Mindray Bio-Medical Electronics co., and others. MRFR studied the companies in detail to incorporate their latest moves for a better understanding of the global market.

In 2019, Omron Healthcare, a global giant in personal heart health and wellness technology, launched their new HeartGuide, the first wearable blood pressure monitor. It has been given the shape of a wristwatch for better user experience.

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Patient Monitoring Devices Industry News:

The recent attack of COVID-19 pandemic has forced a lot of hospitals to rely on their patient monitoring management system from far. This is to ensure more beds for the Covid-19 patients. This is also getting backed by FDA who are now launching special regulations to maintain a proper workflow.

In April 2020, GE Healthcare launched their new Mural Virtual Care Solution to provide assistance to doctors and nurses in taking proper care of their patients. This system is getting boost from a very efficient Microsoft Azure cloud platform. The system will help in effective handling of the clinical surveillance of intensive care unit (ICU) patients. It can also manage the mechanical ventilators that are mandatory in managing the COVID-19 patients. This endeavor is to reduce the chances of exposure to COVID-19 patients and contraction of the disease.