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Patient Monitoring Devices Market Trends

Report ID: GMI4069
Published Date: Oct 2021
Report Format: PDF

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Patient Monitoring Devices Market Trends

Many hospitals and healthcare providers are investing in remote patient monitoring technologies as a part of a value-based care model. Patient monitoring devices help in monitoring and managing high-risk patients that are suffering from chronic diseases and are considered unstable. Also, it reduces the stay of a patient in the intensive care unit as well as hospital wards. Availability of remote monitoring devices such as electromyogram (EMG) monitors, remote cardiac implantable, and blood pressure monitors with smartphone connectivity is expected to foster the industry growth. Moreover, with the rising demand for better connectivity and data accessibility, the players in the medical device industry are investing in advanced monitoring devices that further propel the industry expansion.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

The market size of patient monitoring devices was over USD 23.3 billion in 2020 and is estimated to expand at a 6.9% CAGR through 2027 owing to the optimum need for higher accuracy in the latest monitoring devices.

Cardiac monitoring, neuromonitoring devices, respiratory monitoring devices, anesthesia monitor, hemodynamic monitoring devices, fetal and neonatal monitoring, and multiparameter devices are some devices employed in patient monitoring.

Demand for wireless patient monitoring devices is expected to record a growth rate of more than 7.3% up to 2027, driven by increasing adoption to monitor patients’ vitals without the need for any large setup.

The Europe region is anticipated to strike a CAGR of around 6.5% through 2027 due to the growing incidences of chronic diseases across several countries.