NEW YORK, July 11, 2022 (GLOBE NEWSWIRE) — According to the report published by Next Move Strategy Consulting, the global patient monitoring market achieved revenue of US$36.45 billion in 2021 and is expected to reach US$77.56 billion by 2030, growing at a CAGR of 8.7% from 2022-2030. The report is useful for getting an in-depth analysis of changing market dynamics, current size, estimates, and leading market players. Additionally, the report provides regional and country-wise analysis along with detailed segmentation.
Presenting the overall scenario of the patient monitoring industry in 180 pages, the study aims to assist shareholders, investors, C-level executives and business decision-makers in determining the current situation and assessments for the future. In addition, the analysis is presented in tabular and graphical form with 552 tables and 553 figures.
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|Market size in 2021||$36.45 billion|
|Market size in 2030||$77.56 billion|
|number of pages||180|
|segments covered||Product, End User, Type and Geography.|
|driver||Increase in the prevalence of chronic and infectious diseases with lifestyle changes|
|Remote monitoring trend|
|occasions||Significant increase in demand for patient monitoring devices in the out-of-hospital setting|
|Increase in investments in healthcare IT|
The report provides a comprehensive analysis of the driving forces, factors inhibiting growth, and opportunities in the global patient monitoring market. This analysis is essential to provide market players with an insight into the factors they need to leverage to increase their shares in the market. The increase in the prevalence of chronic and infectious diseases with lifestyle changes and the increasing preference for remote monitoring are driving the growth of the market. In addition, the increase in the adoption of wearable devices complements the market growth. On the other hand, the high cost of surveillance equipment hampers growth to some extent.
Highlighting the opportunities that can be leveraged to increase patient monitoring market share, the senior analyst for the Semiconductor & Electronics category at Next Move Strategy Consulting said, “There is a surge in demand for devices to monitor patients remotely – hospital settings . In addition, investments in healthcare IT are increasing significantly. These factors offer significant opportunities in the coming years.”
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The report offers a comprehensive analysis of each segment and its sub-segments to help market participants and investors determine performance and seize opportunities. The report segments the global patient monitoring market into product, type, end-user and geography. Based on the product, the report segments the market into cardiac monitors, hemodynamic/pressure monitors, blood glucose monitors, respiratory monitors, multi-parameter monitors, fetal and neonatal monitors, temperature monitors, weight monitors, neuromonitoring devices, and other devices. Based on the type, the research splits the market into conventional and wireless. On the basis of end-user, the study further categorizes the market into Home Care, Hospitals & Clinics, and Others.
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Based on geography, the study segments the market into North America, Europe, Asia Pacific and RoW. According to the report, North America held the highest market share in 2021 and will maintain its highest contribution over the forecast period. This is due to an increase in R&D to develop innovative sensor-based patient monitoring systems, increasing adoption of mHealth apps and rising healthcare investments. However, the Asia-Pacific region will experience rapid growth over the forecast period. This is attributed to the increasing adoption of devices to monitor patients remotely and the increase in heart and lung-related diseases.
The study provides a detailed analysis of each segment and sub-segment based on regions and countries. This helps leading players in developing expansion strategies and investors in determining the viability of their investments. These findings are presented in the form of figures and tables for enhancing understanding and taking steps to increase overall Patient Monitoring Market size.
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The report provides a detailed analysis of the leading players operating in the global Patient Monitoring Market. Major market players analyzed in the report include Koninklijke Philips, Medtronic, GE Healthcare, Abbott Laboratories, Mindray Medical, Edwards Lifesciences Corporation, Hill-Rom Holdings, Inc., Masimo Corporation, OMRON Corporation, and Bio-Medical Electronics Co., Ltd various strategies such as joint ventures, expansion, product launches, collaborations and others to strengthen their shares in the market.
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