The report analyzes the patient monitoring devices market into three segments, namely, product, end user, and geography.
Portland, OR -- (SBWIRE) -- 11/09/2017 -- Patient Monitoring Devices Market Report, published by Allied Market Research, forecasts that the global market was valued at $21,127 million in 2016, and is expected to garner $32,435 million by 2023, registering a CAGR of 6.2% during the forecast period 2017 - 2023. The cardiac monitoring devices segment accounted for one-third share of the global patient monitoring devices market in 2016, and is expected to maintain its dominance throughout the analysis period.
These devices are used in an inpatient and outpatient setting, such as emergency medical services and transport, owing to the advancement in the patient monitoring technology. The major factors that boost the market include ease of use; portability of device; increase in the aging population; and growth in the incidence of patients suffering from various lifestyle diseases, such as obesity, chronic liver diseases, and stroke... In addition, the introduction of breakthrough patient monitoring devices is expected to supplement the market growth.
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The cardiac monitoring devices segment dominated the global market in 2016, and is expected to continue its dominance throughout the forecast period. This are attributed to the various applications of the cardiac monitoring devices for cardiovascular surgeries and its ability to monitor the severity of range of cardiovascular diseases. However, this segment is estimated to grow highest rate, owing to the growth in popularity of the advantages in this segment.
Patient monitoring devices are most commonly and widely used in hospitals & clinics for various procedures, thus it is the dominant end user segment of the market and is expected to maintain its market position throughout the forecast period. As there is a rise in popularity of self-monitoring devices, home setting segment is anticipated to be the fastest growing segment.
Patient Monitoring Devices Market Key Segments:
-Hemodynamic Monitoring Devices
-Cardiac Monitoring Devices
-Fetal & Neonatal Monitoring Devices
-Respiratory Monitoring Devices
-Multiparameter Monitoring Devices
-Remote Patient Monitoring Devices
-Weight Monitoring Devices
-Temperature Monitoring Devices
By End User
-Hospitals & Clinics
-Ambulatory Surgical Centers (ASC)