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Patient Monitoring Devices Market Analysis | Coherent Market Insights


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Title: Patient Monitoring Devices Market Analysis | Coherent Market Insights

Coherent Market InsightS
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Patient Monitoring Devices Market Analysis
  • Patient monitoring devices are used to collect
    and display physiological data. Common types of
    cardiac monitoring systems include, Holter
    monitor, event recorder, mobile cardiac
    telemetry, and insertable cardiac monitor.
  • The global patient monitoring devices market is
    estimated to account for US 22,869.5 Mn in terms
    of value in 2020 and is expected to reach US
    35,209.0 Mn by the end of 2027.

Global Patient Monitoring Devices Market Drivers
  • Increasing prevalence of lifestyle diseases is
    expected to propel growth of the global patient
    monitoring devices market over the forecast
    period. For instance, according to the study,
    Global Prevalence of Type 2 Diabetes over the
    Next Ten Years (2018-2028), published by the
    American Diabetes Association, 500 million people
    worldwide suffered from type 2 diabetes in 2018.
  • Moreover, increasing geriatric population is also
    expected to aid in growth the market. For
    instance, according to the World Health
    Organization, geriatric population is expected to
    reach 2 billion by 2050, up from 900 million in

  • Respiratory and Anesthesia Monitors held dominant
    position in the global patient monitoring devices
    market in 2019, accounting for 30.8 share in
    terms of value.

Figure 1. Global Patient Monitoring
Devices Market Share (), by Value, by Device
Type, 2019
Global Patient Monitoring Devices Market
  • Negative impact of U.S. medical device tax and
    rigorous FDA regulatory processes are expected to
    hinder growth of the market. The U.S. government
    scheduled to implement a 2.3 excise tax on
    medical devices sales in 2013.
  • Moreover, security concerns associated with
    mobile devices are also expected to limit the
    market growth. 

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Global Patient Monitoring Devices Market
  • Investment in Holter monitoring is expected to
    offer lucrative growth opportunities for players
    in the global patient monitoring devices market.
    For instance, in December 2019, Biotricity Inc.,
    a medical diagnostic and consumer healthcare
    technology company, raised US 6 million for FDA
    Filing for its patch solution within the first 6
    months of 2020, which will be a novel product in
    the field of Holter monitoring.
  • Moreover, launch of wireless electroencephalogram
    headsets is also expected to aid in growth of the
    market. For instance, in September 2019, Nihon
    Kohden launched its VitalEEG wireless
    electroencephalogram headset in the U.S., which
    is designed for quick setup and efficient
    placement of electrodes to evaluate brain health.

  • The global patient monitoring devices market was
    valued at US 21,505.5 Mn in 2019 and is forecast
    to reach a value of US 35,209.0 Mn by 2027 at a
    CAGR of 6.4 between 2020 and 2027.

Figure 2. Global Patient Monitoring
Devices Market Value (US Mn), and Y-o-Y Growth
(), 2019-2027
Market Trends/Key Takeaways
  • Major players in the market are focused on
    launching programs to aid current customers who
    have lost insurance due to the COVID-19 pandemic.
    For instance, in April 2020, DexCom, Inc.
    launched a new patient assistance program that
    offers two 90-day supply shipments of Dexcom
    continuous glucose monitoring (CGM) system
    supplies and reduces customer cost to US 45 per
    90-day supply shipment, in order to aid current
    U.S. customers who have lost insurance due to the
    COVID-19 pandemic.
  • Major players in the market are focused on
    adopting partnership strategies to expand their
    product portfolio. 

  • For instance, in July 2019, Caretaker Medical
    partnered with Mespere LifeSciences to integrate
    wireless CNIBP, Cerebral Oximetry, and other
    non-invasive hemodynamic measurements in a single
    monitoring platform

Global Patient Monitoring Devices Market
Competitive Landscape
  • Major players operating in the global patient
    monitoring devices market include, 3M Healthcare,
    Boston Scientific Corporation, Covidien,
    Draegerwerk AG and Co. KGaA, GE Healthcare,
    Medtronic Plc, Mindray Medical, Omron, Nihon
    Kohden Corporation, Biotricity Inc., Bittium
    Corporation, DexCom, Inc., Caretaker Medical,
    Shimmer, Edwards Lifesciences Corporation,
    Saranas, Inc., DiaMonTech GmbH, VivaQuant, and
    Philips Healthcare.

Global Patient Monitoring Devices Market Key
  • Major players in the market are focused on
    approval and launch of new products to expand
    their product portfolio. For instance, in
    November 2019, Shimmer, a U.S.-based developer of
    wearable technology, announced that ECGmd its
    five-wire, four-lead Holter monitor ECG, received
    CE mark
  • Similarly, in August 2019, DiaMonTech GmbH, a
    medical technology startup, received the CE
    certification for its first medical product DMT
    Base, a device that offers non-invasive blood
    glucose measurement using laser-based technology.

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