The “Patient Monitoring Device/ Equipment/System Market by Product (Blood Glucose, EEG, ECG, Capnography, Spirometer, Sleep Apnea, Pulse Oximeter, Fetal Doppler, Multiparameter, Remote, Weight, Temperature), End-user (Hospitals, Home) - Global Forecast to 2018” provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global patient monitoring devices market along with the estimates and forecasts of the revenue and share analysis.
The global patient monitoring devices market is estimated to reach $22,174 million by 2018 at a CAGR of 5.5% during the forecast period (2013–2018). The factors driving this market include increasing geriatric population, rising incidences of lifestyle diseases, home and remote monitoring, ease-of-use, and portability of devices expanding point-of-care monitoring devices. The factors restraining this market include economic downturn and saturation in developed countries and unstable reimbursement regulations.
The patient monitoring devices market is divided into nine major segments, namely, hemodynamic, neurology, cardiac, respiratory, fetal and neonatal, multiparameter, remote patient monitors, temperature, and weight management monitors. In 2013 cardiac monitoring device segment was the leading market segment. Under this segment the Electrocardiograph (ECG) sub-segment contributed to the maximum share of the cardiac monitoring market.
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The electroencephalograph (EEG) monitoring device under neurological device segment will be the fastest growing segment by 2018. The major factors driving the growth of this segment are rise in the population size of the patients affected by neurodegenerative diseases. Eventually, rise in the awareness regarding the neurodegenerative diseases and the use of wireless neuromonitoring and remote patient monitoring systems will further propel the growth of this segment.
North America commanded the largest share in the patient monitoring devices market in 2013 and is expected to grow from 2013 to 2018, at a CAGR of more than 5.0%. The primary growth driver for North America is the expanding population size of the elderly and the mounting lifestyle diseases. Europe accounted for the second largest market share in 2013; however, in the forecast period the growth of this region will be slow. APAC, on the other hand, will be the main focus of the market in the coming five years that will register high growth rates for all the segments. Vast population sizes of countries such as India and China and improved purchasing power of the rising middle class will drive the growth.
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The key players in the patient monitoring devices market are Abbott Laboratories (U.S), Covidien (Ireland), Drager Medical GmbH (Germany), GE Healthcare (U.K.), Johnson & Johnson Inc. (U.S), Masimo Corporation (U.S), Mindray Medical (China), Mortara Instrument Inc. (U.S.), Natus (U.S.), Nihon Kohden (Japan), Nonin Medical (U.S), Omron Healthcare (Japan), Philips Healthcare (Netherlands), Roche Diagnostics Limited (Switzerland), and Welch Allyn (U.S.).
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