DUBLIN--(BUSINESS WIRE)--The "Patient Monitoring Devices Global Market Opportunities And Strategies To 2022" report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global patient monitoring devices market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global market for patient monitoring devices reached a value of nearly $22.4 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.2% since 2014. The market will grow at a CAGR of 8.2% to nearly $30.7 billion by 2022.
Growth in the historic period resulted from the increase in the size of the aging population, emerging markets growth, technological advances, and rising healthcare expenditure. Factors that negatively affected growth in the historic period were lack of healthcare awareness and decreasing reimbursements. Going forward, economic growth, increasing prevalence of chronic diseases, and increasing adoption of remote patient monitoring devices which are cost effective will drive growth. Factors that could hinder the growth of the patient monitoring devices market in the future are government regulations, the high initial investment costs and interest rate increases.
The patient monitoring devices market is segmented by type into fetal and neonatal monitoring devices, vital parameter monitoring devices and equipment, weight monitoring and body temperature monitoring devices and equipment, and remote patient monitoring devices and equipment. The vital parameter monitoring devices and equipment market accounted for the largest share of the patient monitoring devices market in 2018 at 44.3%. The remote patient monitoring devices and equipment market is expected to be the fastest-growing segment going forward at a CAGR of 15.8%.
The fetal and neonatal monitoring devices market is further segmented into neonatal monitoring devices and fetal monitoring devices. Neonatal monitoring devices accounted for the largest share of the fetal and neonatal monitoring devices market in 2018 at 69.4%. The fetal monitoring devices segment is expected to grow at the highest CAGR of 6.7%.
The vital parameter monitoring devices and equipment market is further segmented into multiparameter monitoring devices, cardiac monitoring devices, respiratory monitoring devices, neuromonitoring devices, and hemodynamic monitoring devices. Multiparameter monitoring devices accounted for the largest share of the vital parameter monitoring devices and equipment market in 2018 at 35.5%. The neuromonitoring devices segment is expected to grow at the highest CAGR of 7%.
The weight monitoring and body temperature monitoring devices and equipment market is further segmented into weight monitoring devices and temperature monitoring devices. Weight monitoring devices accounted for the largest share of the weight monitoring and body temperature monitoring devices and equipment market in 2018 at 57.3%. The weight monitoring segment is also expected to grow at the highest CAGR of 15.8%.
The remote patient monitoring devices and equipment market is further segmented by type into vital parameter monitors and others, cardiac monitors, respiratory monitors and hematological monitors. The vital parameter monitors and others market accounted for the largest share of the remote patient monitoring devices and equipment market in 2018 at 51.9%. The respiratory monitors market is expected to be the fastest-growing segment going forward at a CAGR of 17.3%.
The patient monitoring devices market is also segmented by end use into hospitals, homecare and diagnostic centres/clinics. The hospitals market accounted for the largest share of the patient monitoring devices market by end use in 2018 at 53.8%.
North America is the largest market for patient monitoring devices, accounting for 41.7% of the global market in 2018. It was followed by Western Europe, Asia-pacific and then the other regions. Going forward, Asia-Pacific and Africa will be the fastest growing regions in this market, where growth will be at CAGRs of 10.31% and 9.72% respectively. These will be followed by South America and the Middle East where the markets are expected to grow at CAGRs of 9.7% and 9.62% respectively.
The market for patient monitoring devices is relatively concentrated with a small number of large entities which each commands a significant market share and a large number of small entities with minor shares. Players in the market include Philips Healthcare, GE Healthcare, Medtronic Inc., Omron Corporation, and Masimo.
The global medical equipment market, of which the patient monitoring devices market is a segment, reached a value of nearly $423.5 billion in 2018, having grown at a compound annual growth rate (CAGR) of 5.3% since 2014. It will grow at a CAGR of 5.3% to nearly $520.8 billion by 2022.
The cardiovascular devices market is the largest segment of the medical equipment market accounting for 15.2% of the medical equipment market and is worth $64.5 billion globally and has grown at a CAGR of 5.27% during the historic period. It is expected to grow at a CAGR of 5.75% during the forecast period. This is followed by in-vitro diagnostics, the second largest segment, accounting for 12.5% of the medical equipment market. Patient monitoring devices is expected to be the fastest growing segment in the medical equipment market at a CAGR of 8.21% during 2018-2022.
The top opportunities in the global patient monitoring devices market will arise in the weight monitoring and body temperature monitoring devices and equipment segment which will gain $3.61 billion of global annual sales by 2022. The patient monitoring devices market will gain the most in annual $ sales in the USA at $2.87 billion.
Key Topics Covered
1. Patient Monitoring Devices Market Opportunities and Strategies Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
7. Patient Monitoring Devices Market Characteristics
8. Patient Monitoring Devices Supply Chain
9. Patient Monitoring Devices Market Product Analysis - Example Products
10. Patient Monitoring Devices Market Size and Growth
11. Patient Monitoring Devices Market Opportunity Assessment - PESTEL Analysis
12. Patient Monitoring Devices Market Regulatory Landscape
13. Patient Monitoring Devices Market Trends and Opportunities
14. Patient Monitoring Devices Market Customer Information
15. Patient Monitoring Devices Market, Regional and Country Analysis
16. Patient Monitoring Devices Market Segmentation
17. Global Patient Monitoring Devices Market Comparison with Macro Economic Factors
18. Patient Monitoring Devices Market Comparison With Macro Economic Factors Across Countries
19. Asia-Pacific Patient Monitoring Devices Market
20. Western Europe Patient Monitoring Devices Market
21. Eastern Europe Patient Monitoring Devices Market
22. North America Patient Monitoring Devices Market
23. South America Patient Monitoring Devices Market
24. Middle East Patient Monitoring Devices Market
25. Africa Patient Monitoring Devices Market
26. Patient Monitoring Devices Market Competitive Landscape
27. Patient Monitoring Devices Market Key Mergers and Acquisitions
28. Market Background: Medical Equipment
29. Patient Monitoring Devices Opportunities and Strategies
30. Patient Monitoring Devices Market Conclusions and Recommendations
Companies Mentioned
- Becton Dickinson and Co.
- Biomet
- C R Bard Inc.
- Cardinal Health
- Corventis
- Covidien
- Cyberonics
- GE Healthcare
- Healthinterlink
- Johnson and Johnson
- Kyma Medical Technologies
- Mallinckrodt Pharmaceuticals
- Masimo
- Medtronic
- Medtronic Inc.
- Omron Corporation
- Philips Healthcare
- Reflectance Medical
- Sorin SpA
- Sotera Wireless
- St Jude Medical
- Therakos
- Thoratec Corp
- Welch Allyn
- Zimmer Holdings Inc.
- Zoll
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