(PharmaNewsWire.Com, August 01, 2017 ) According to the report North America Patient Monitoring Market, published by Market Data Forecast, the market is projected to reach USD 8.16 Billion by 2021, growing at a CAGR of 6.9% during the forecast period 2016-2021
Patient Monitoring Systems enable efficient healthcare delivery to patients outside conventional hospital or clinical settings, by transmitting real-time patient data for clinical review which enables reduce the mortality rates and facilitate efficient use of medical resources. These monitoring systems also help in avoiding emergency overcrowding by managing huge number of patients and enhance maintenance of electronic health records (EHR). Recently the market has gained immense focus due to the government measures to cut down hospital expenditures and reduce hospital stays.
North America Patient Monitoring Market: Drivers & Restraints The major factors backing the growth of the market in this region are the aging population, Improved purchasing power of patients, high population base and increased lifestyle diseases that are further serving the overall prevalence of chronic diseases followed by Europe. However, the growth in these regions is expected to be slow in the forecast period due to factors such as decreasing birth rates, irregular reimbursement policies and reduced number of beds in hospitals.
North America Patient Monitoring Market: Segmentation
By Application Neuromonitoring Devices o Electroencephalograph (EEG) o Transcranial Doppler (TCD) o Magnetoencephalograph (MEG) o Cerebral Oximeters o Intracranial Pressure Monitors (ICP)
Hemodynamic Monitoring Devices o Blood Pressure Monitors o Blood Glucose Monitors o Blood Gas and Electrolyte Analyzers o Cholesterol Analyzers
Cardiac Monitoring Devices o Electrocardiogram (ECG) o Event Monitors o Implantable Loop Recorder (ILR) o Cardiac Output Monitoring Devices
Fetal and neonatal Monitoring Devices o Ultra Sound Fetal Dopplers o Internal Fetal Monitors
Respiratory Monitoring Devices o Capnographs o Spirometers o Anesthesia Monitors o Sleep Apnea Monitoring Devices o Pulse Oximeters
Multi-Parameter Monitoring Devices o High-Acuity Monitors o Mid-Acuity Monitors o Low-Acuity Monitors Temperature Monitoring Devices Weight Monitoring Devices Remote Patient Monitoring Devices
North America Patient Monitoring Market: Overview Cardiac monitoring segment has the largest share in North America market and is predicted to maintain its strong share till 2020 due to increasing demand for ECG (Electro Cardiogram) devices and increased rate of cardiac and other comorbid diseases such as diabetes and high blood pressure. The respiratory monitoring segment is estimated to be the fastest growing during the forecast period.
Encouraged by the widespread proliferation of high-speed internet and its related services, adoption of RPM systems is witnessing high demand. Rapidly growing aging population vulnerable to diseases, government policies to reduce healthcare expenditure are also pushing the market growth. On the other side, patient privacy concerns & lack of proper reimbursements policies and the high cost of Patient Monitoring systems are inhibiting the growth of the market.
North America Patient Monitoring Market: Region-wise Outlook Furthermore, on the basis of geography, the North America market is analysed under various regions namely, USA and Canada. The major factors backing to the growth of the market in this region are the aging population and lifestyle diseases that are further serving the overall prevalence of chronic diseases.
Key Questions Answered
What will be the market growth till 2021 and what will be the resultant market forecast in the year?
What was the market size from 2016 to 2021?
What is the current and future Patient Monitoring Market outlook in North America?
What trends are affecting the North America market?
What is the competitive landscape and market share of major players in the Patient Monitoring space in North America?
What are the key, high growth markets that Patient Monitoring manufacturers should expand into? Which market segments are growing the fastest?
What are the unmet needs with the Patient Monitoring currently on the market? How will emerging technologies fulfil these unmet needs?
What is physician perception and market outlook of Patient Monitoring?
What are the challenges and barriers that have hindered widespread adoption of Patient Monitoring?
North America Patient Monitoring Market: Key Players Some of the key players in the North America Patient Monitoring Market are Abbott Laboratories, Masimo Corporation, Covidien, Drager Medical GmbH, GE Healthcare, Johnson & Johnson Inc., Mindray Medical, Mortara Instrument Inc., Natus, Nihon Kohden ,Nonin Medical, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited and Welch Allyn.
Reasons to buy North America Patient Monitoring Market Report: Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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