Patient Monitoring Devices Market Size| 2021 Covid-19 Impact On Healthcare Industry Global Analysis By Size, Trends, Growth, Share, Business, Key Players And Regional Forecast latest study published by Fortune Business Insights. The global ”patient monitoring devices market” is set to gain momentum from the increasing need to monitor the functional signs of patients to diagnose various problems. Fortune Business Insights™ provided this information in an upcoming report, titled, “Patient Monitoring Devices Market Size, Share & Industry Analysis, By Type (Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Multi-Parameter Monitoring Devices, Hemodynamic Monitoring Devices, Temperature Monitoring Devices, Weight Monitoring Devices) By End-Users/ Applications (Hospitals, ASCs, Clinics, Home, Others) and Regional Forecast 2020-2027.” The report further mentions that patient monitoring devices are used to monitor respiration rate, blood pressure, urine output, pulse, temperature, discomfort, level of consciousness, and oxygen permeation.
The outbreak of the COVID-19 pandemic has brought the world to a complete halt. The government bodies of various nations have deployed social distancing and lockdown measures to prevent transmission. Hence, multiple companies have shut down their manufacturing processes and are focusing on making personal protective equipment (PPE) and hand sanitizers. We are offering accurate research reports to help you better understand the current situation of the market.
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Global Patient Monitoring Devices Market Highlights:
The Patient Monitoring Devices Market report offers an in-depth analysis of the Patient Monitoring Devices industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Patient Monitoring Devices market concentration, and maturity analysis is elaborated in this report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Patient Monitoring Devices Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
It offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for Patient Monitoring Devices market to figure out and study the market’s needs, market size, and competition.
North America is expected to account for the major market share and is also anticipated to retain its ascendancy throughout the forecast period. The region is projected to be a lucrative market for monitoring device manufacturers due to an increase in the prevalence of chronic diseases, increased consumption of an unhealthy diet, enormous healthcare expenditure, and advantageous health cover policies. Europe is anticipated to hold the second-largest share in the market.
Factors such as compulsory contributory health insurance schemes, compulsory medical savings accounts, and increased healthcare expenditure are likely to influence the growth of the market in the European region. However, Asia Pacific possesses the high market potential for growth of the market due to the rise in the geriatric population, escalating incidences of heart diseases, growing prevalence of diabetes, and an increase in the purchasing power of the countries of this region. Moreover, fast-growing startup space in this region stimulated by the influx of capital is anticipated to encourage added research and development efforts toward building advanced healthcare technologies that are likely to boost the growth of the market.
How Did We Develop This Report?
We have conducted extensive primary and secondary research to gather information about various aspects of this report. Our special interviews with end-user respondents and supply side respondents helped in gaining insights into the average pricing, per capita consumption trend, average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed industry journals, articles, and press releases of organizations operating in the field of patient monitoring devices.
Drivers & Restraints-
Rising Consumption of Junk Food to Propel Growth
Rising disposable incomes and increasing cases of cancer and cardiac diseases are expected to boost the patient monitoring devices market growth in the near future. The World Health Organization (WHO), for instance, declared that cardiovascular disease is one of the major causes of deaths worldwide. Hence, patient monitoring devices are showcasing high popularity because of the growing need to monitor a patient’s vitals and other signs.
Furthermore, the rising consumption of junk food items, transformations of lifestyles, and lack of physical exercises are set to also accelerate growth as these factors often result in the occurrence of serious health conditions. Numerous manufacturers are striving to develop digital technologies to attract more customers. However, patient monitoring devices are very expensive. It may obstruct their demand in developing nations.
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Key Players Focus on Mergers & Collaborations to Gain a Competitive Edge
The global market for patient monitoring devices houses a large number of enterprises that are mainly aiming to engage in mergers, acquisitions, and partnerships with other players to broaden their existing product portfolios. Below are the two latest industry developments:
- December 2020: Royal Phillips and BioTelemetry, Inc. entered into a merger agreement. It will enable Phillips to acquire the latter’s issued shares. At the same time, the company will be able to transform its delivery of care with integrated solutions. Phillip’s cardiac care portfolio will be robust owing to this acquisition.
- December 2020: Doccla joined hands with Luton Children and Adults Community Health Services to offer remote patient monitoring service, such as wearable technology. Each patient’s device will regularly send automated readings and alerts of routine measurements via Doccla to doctors of Luton in the U.K.
A list of some of the most reputed patient monitoring devices manufacturers in the market:
- GENERAL ELECTRIC COMPANY
- Omron Healthcare, Inc.
- Hoffmann-La Roche Ltd.
- Biotronik, Inc.
- NIHON KOHDEN CORPORATION
- Johnson & Johnson Services, Inc.
- Koninklijke Philips N.V.
- Other prominent companies
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