Patient Monitoring Devices Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030
Patient Monitoring Devices Market: Market Segments: By Type (Hemodynamic Monitoring, Neuromonitoring, Cardiac Monitoring, Fetal & Neonatal Monitoring, Respiratory Monitoring, Multi-Parameter Monitoring, Remote Patient Monitoring, Weigh Monitoring, And Temperature Monitoring Devices); By End User (Hospitals & Clinics, Home Settings, and Ambulatory Surgical Centers); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Product Overview
Patient monitoring devices are a technology used to collect and electronically transmit medical and health-related data from individuals at one location to a healthcare provider at another location. Patient monitoring equipment continuously tracks patient’s vital health signs, such as respiratory rate, heart rate, and rhythm, blood pressure, saturation of blood oxygen, and many other parameters.
Market Highlights
Patient Monitoring Devices Market is expected to project a notable CAGR of 6.2% in 2030.
Patient Monitoring Devices Market to surpass USD 60.3 Billion by 2030 from USD 20.2 billion in 2018 in terms of value growing at a CAGR of 6.2% throughout the forecast period, i.e., 2019-30. A key trend in patient care is the integration of monitoring technologies into smartphones and wireless devices, leading to the introduction of remote monitoring systems, mobile cardiac telemetry devices, mobile personal digital assistant (PDA) systems, outpatient wireless EEG recorders and outpatient event monitors, which are key factors that support market growth.
Patient Monitoring Devices Market: Segments
Cardiac Monitoring Devices Segment to grow with the highest CAGR of XX.X% during 2019-30
Patient Monitoring Devices Market is segmented by type as hemodynamic monitoring, neuromonitoring, cardiac monitoring, fetal & neonatal monitoring, respiratory monitoring, multi-parameter monitoring, remote patient monitoring, weigh monitoring, and temperature monitoring devices. The cardiac monitoring devices segment is estimated to lead the market with a share of over 26.0% of in Patience monitoring device market in 2018 and this trend is expected to continue during the forecast period. This is attributed to an increase in the prevalence of different cardiovascular diseases throughout the world each year, such as congestive heart failure and stroke.
Patient Monitoring Devices Market: Market Dynamics
Drivers
Rising Burden of Chronic Diseases
Chronic heart disease, diabetes, and chronic respiratory diseases are the world's leading causes of mortality and morbidity. 75% of healthcare costs are accounted for by chronic care management. The rise in the prevalence of chronic circumstances places a huge financial burden on caregivers. It thus decreases readmissions and prevents hospitalizations that are avoidable.
Restrain
Risk associated with invasive monitoring devices
Several risks are associated with the use of invasive monitoring systems, such as discomfort associated with the insertion of monitoring tools, such as pulmonary artery catheters (PAC). Some other major risks are air embolism, sepsis, bleeding / hematoma formation, cardiac arrhythmias, decreased distal limb circulation, haemorrhage, damage to the nerves (during insertion), thrombosis, air embolism, and pulmonary capillary necrosis. The mortality rate during invasive procedures is increased by these factors. Consequently, the risks mentioned above limit the use of invasive monitoring devices.
Patient Monitoring Devices Market: Regions
Patient Monitoring Devices Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Patient Monitoring Devices Market in North America led the market in 2018. The key factors supporting market growth in North America are increasing R&D to develop novel sensor-based patient monitoring systems, increasing infectious disease prevalence, safety concerns, and technological advances in patient monitoring device products. In addition, most of the world's leading companies are headquartered in the region or have a strong presence in that market, another key factor that is attributed to the market's significant growth. Europe, particularly Western European countries, is expected to remain the second most profitable region over the forecast period due to a higher mortality rate and rising demand for low-cost treatment. High-impact drivers for regional growth are increasing demand for in-house monitoring, supportive central data management systems and increasing the accuracy and efficiency of remote patient monitoring systems.
Patient Monitoring Devices Market: Key Players
• Abbott Laboratories
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Aerotel Medical Systems
• AMD Global Telemedicine
• Baxter International Inc.
• Boston Scientific Corporation
• GE Healthcare
• Masimo Corporation
• Medtronic PLC
• Omron Corporation
Patient Monitoring Devices Market report also contains analysis on:
Patient Monitoring Devices Market Segments:
By Product:
• Hemodynamic Monitoring Devices
o Blood Glucose
o Cholesterol
o Blood Gas & Electrolyte Analyzers/Monitors
o Blood Pressure
• Neuromonitoring Devices
o Electroencephalograph (EEG) Devices
o Transcranial Dopplers (TCD)
o Magnetoencephalography (MEG) Devices
o Intracranial Pressure Monitors (ICP)
o Cerebral Oximeters
• Cardiac Monitoring Devices
o Electrocardiogram (ECG) Devices
o Holter Monitor
o Event Monitors
o Others
• Fetal & Neonatal Monitoring Devices
o Ultrasound
o Electronic Fetal Monitoring Devices
o Fetal Doppler Monitoring Devices
o Other Fetal & Neonatal Monitoring Devices
• Respiratory Monitoring Devices
o Capnographs
o Spirometers
o Sleep Apnea Monitor
o Pulse Oximeters
• Multiparameter Monitoring Devices
o High Acuity
o Mid Acuity
o Low Acuity
• Remote Patient Monitoring Devices
• Weight Monitoring Devices
• Temperature Monitoring Devices
By End User:
• Hospitals
• Ambulatory Surgery Centers
• Home Care Settings
• Other
• Patient Monitoring Devices Market Dynamics
• Patient Monitoring Devices Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
Contents
1. Executive Summary
2. Patient Monitoring Devices Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Patient Monitoring Devices Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Patient Monitoring Devices Market
11.1. Market Size & forecast, 2019A-2030F
11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Remote Patient Monitoring (RPM): Market Segmentation
12.1. By Regions
12.1.1. North America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.2. Europe:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.3. Asia-Pacific:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.4. MEA:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.5. Latin America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By Type: Market Share (2020-2030F)
12.2.1. Hemodynamic Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. Neuromonitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.3. Cardiac Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.4. Fetal & Neonatal Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.5. Respiratory Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.6. Multiparameter Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.7. Remote Patient Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.8. Weight Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.9. Temperature Monitoring Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3. By End User: Market Share (2020-2030F)
12.3.1. Hospitals, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.2. Ambulatory Surgery Centers, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.3. Home Care Settings, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.4. Other, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13. Company Profile
13.1.1. Abbott Laboratories
13.1.2. Company Overview
13.1.3. Company Total Revenue (Financials)
13.1.4. Market Potential
13.1.5. Global Presence
13.1.6. Key Performance Indicators
13.1.7. SWOT Analysis
13.1.8. Product Launch
13.2. Aerotel Medical Systems
13.3. AMD Global Telemedicine
13.4. Baxter International Inc.
13.5. Boston Scientific Corporation
13.6. GE Healthcare
13.7. Masimo Corporation
13.8. Medtronic PLC
13.9. Omron Corporation
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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