Patient Monitoring Equipment Market to grow by USD 20.39 billion from 2022 to 2027|Need for remote monitoring of patients boost the market- Technavio

27 Jul 2023
www.prnewswire.com
NEW YORK, July 27, 2023 /PRNewswire/ -- The
patient monitoring equipment market size is forecasted to increase by
USD 20.39 billion from 2022 to 2027, at a
CAGR of 8.48%, according to a recent market study by Technavio.
North America is estimated to account for
44% of the market growth. Some of the key factors significantly contributing to the growth of the patient monitoring equipment market in North America are its technological innovations and the increasing geriatric population. The advanced healthcare infrastructure and the early adoption of cutting-edge medical technologies are also significantly contributing to the market growth in the region. As a result, there is a high expectation among patients regarding state-of-the-art medical equipment in the region. Furthermore, there is a strong demand for wireless connectivity, remote monitoring capabilities, and data analytics in the region which is expected to drive the market growth during the forecast period.
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Patient Monitoring Equipment Market to grow by USD 20.39 billion from 2022 to 2027|Need for remote monitoring of patients boost the market- Technavio
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Technavio has announced its latest market research report titled Global Patient Monitoring Equipment Market
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Patient Monitoring Equipment Market - Segmentation Assessment
Segment Overview
The market is segmented by end-user (hospitals, clinics, and ambulatory care services), type (bedside patient monitoring equipment and remote patient monitoring equipment), and geography (North America, Europe, Asia, and the Rest of World (ROW)).
The
hospitals segment will account for a significant share of market growth during the forecast period. One of the main end-users of patient monitoring systems is the hospitals. Factors such as the need for improved patient safety, advancements in technology, the increasing prevalence of chronic diseases, the rising aging population, the need for cost-effectiveness in healthcare, and the demand for remote monitoring solutions are significantly contributing to the market growth. Hence, such factors are expected to drive market growth during the forecast period.
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Patient Monitoring Equipment Market -
Market Dynamics
Key factor driving market growth
The need for remote monitoring of patients drives the global patient monitoring equipment market during the forecast period. The main feature of the remote patient monitoring (RPM) system is that it enables healthcare providers to track patients outside of traditional healthcare settings. There is an increasing preference for remote patient monitoring among patients who prefer to receive care at home or in remote areas with limited access to healthcare facilities. The increasing need for hospital readmissions, enhanced patient convenience, and early detection of potential health issues are positively impacting the market growth. Hence, such factors are expected to impact the market growth during the forecast period.
Leading trends influencing the market
Several advancements in patient monitoring equipment are a key trend in the global patient monitoring equipment market. The advancement in technology, such as the development of wireless and wearable devices, has revolutionized the healthcare industry. The main advantage of these devices is that they are able to monitor vital signs, activity levels, and other physiological parameters continuously without restricting the patient's mobility. Additionally, these devices can transmit data wirelessly to healthcare professionals and also facilitate real-time monitoring and abnormalities. Furthermore, the integration of artificial Intelligence (AI) and machine learning (ML) technologies with patient monitoring equipment which has led to enhancing its accuracy, automating data analysis, and enabling predictive analytics. Hence, such factors are expected to drive market growth during the forecast period.
Major challenges hindering the market growth
Stringent regulations on medical equipment are a significant challenge hindering the global patient monitoring equipment market. The regulatory environment for medical equipment has many stringent rules and guidelines, which include manufacturers of patient monitoring equipment. For example, the US Food and Drug Administration (FDA) and other regulatory agencies in the US enforce strict compliance monitoring obligations on manufacturers of medical equipment, including patient monitoring equipment. Some of the key regulatory agencies in the US which monitor the advertising associated with medical equipment include the Federal Trade Commission, the Office of the Inspector General of the Department of Health and Human Services, the US Department of Justice, and the Attorney Generals of various states. Hence, such stringent regulations are expected to hinder the global patient monitoring equipment market growth during the forecast period.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Patient Monitoring Equipment Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the patient monitoring equipment market between 2023 and 2027
Precise estimation of the size of the patient monitoring equipment market size and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the patient monitoring equipment market across North America, Europe, Asia, and the Rest of the World (ROW)
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of patient monitoring equipment market vendors
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Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global patient monitoring equipment market 2017 - 2021
Exhibit 18: Historic Market Size – Data Table on global patient monitoring equipment market 2017 - 2021 ($ billion)
4.2 End-user Segment Analysis 2017 - 2021
Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)
4.3 Type Segment Analysis 2017 - 2021
Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
4.4 Geography Segment Analysis 2017 - 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
4.5 Country Segment Analysis 2017 - 2021
Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
6.1 Market segments
Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
6.2 Comparison by End-user
Exhibit 32: Chart on Comparison by End-user
Exhibit 33: Data Table on Comparison by End-user
6.3 Hospitals - Market size and forecast 2022-2027
Exhibit 34: Chart on Hospitals - Market size and forecast 2022-2027 ($ billion)
Exhibit 35: Data Table on Hospitals - Market size and forecast 2022-2027 ($ billion)
Exhibit 36: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)
6.4 Clinics - Market size and forecast 2022-2027
Exhibit 38: Chart on Clinics - Market size and forecast 2022-2027 ($ billion)
Exhibit 39: Data Table on Clinics - Market size and forecast 2022-2027 ($ billion)
Exhibit 40: Chart on Clinics - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Clinics - Year-over-year growth 2022-2027 (%)
6.5 Ambulatory care services - Market size and forecast 2022-2027
Exhibit 42: Chart on Ambulatory care services - Market size and forecast 2022-2027 ($ billion)
Exhibit 43: Data Table on Ambulatory care services - Market size and forecast 2022-2027 ($ billion)
Exhibit 44: Chart on Ambulatory care services - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Ambulatory care services - Year-over-year growth 2022-2027 (%)
6.6 Market opportunity by End-user
Exhibit 46: Market opportunity by End-user ($ billion)
Exhibit 47: Data Table on Market opportunity by End-user ($ billion)
7 Market Segmentation by Type
7.1 Market segments
Exhibit 48: Chart on Type - Market share 2022-2027 (%)
Exhibit 49: Data Table on Type - Market share 2022-2027 (%)
7.2 Comparison by Type
Exhibit 50: Chart on Comparison by Type
Exhibit 51: Data Table on Comparison by Type
7.3 Bed-side patient monitoring equipment - Market size and forecast 2022-2027
Exhibit 52: Chart on Bed-side patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
Exhibit 53: Data Table on Bed-side patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
Exhibit 54: Chart on Bed-side patient monitoring equipment - Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Bed-side patient monitoring equipment - Year-over-year growth 2022-2027 (%)
7.4 Remote patient monitoring equipment - Market size and forecast 2022-2027
Exhibit 56: Chart on Remote patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
Exhibit 57: Data Table on Remote patient monitoring equipment - Market size and forecast 2022-2027 ($ billion)
Exhibit 58: Chart on Remote patient monitoring equipment - Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on Remote patient monitoring equipment - Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Type
Exhibit 60: Market opportunity by Type ($ billion)
Exhibit 61: Data Table on Market opportunity by Type ($ billion)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 63: Chart on Market share by geography 2022-2027 (%)
Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2022-2027
Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.4 Europe - Market size and forecast 2022-2027
Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.5 Asia - Market size and forecast 2022-2027
Exhibit 75: Chart on Asia - Market size and forecast 2022-2027 ($ billion)
Exhibit 76: Data Table on Asia - Market size and forecast 2022-2027 ($ billion)
Exhibit 77: Chart on Asia - Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on Asia - Year-over-year growth 2022-2027 (%)
9.6 Rest of World (ROW) - Market size and forecast 2022-2027
Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
9.7 US - Market size and forecast 2022-2027
Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)
9.8 Germany - Market size and forecast 2022-2027
Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.9 UK - Market size and forecast 2022-2027
Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ billion)
Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)
9.10 Canada - Market size and forecast 2022-2027
Exhibit 95: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
Exhibit 96: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
Exhibit 97: Chart on Canada - Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on Canada - Year-over-year growth 2022-2027 (%)
9.11 China - Market size and forecast 2022-2027
Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)
9.12 Market opportunity by geography
Exhibit 103: Market opportunity by geography ($ billion)
Exhibit 104: Data Tables on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 109: Vendors covered
12.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
Exhibit 111: Abbott Laboratories - Overview
Exhibit 112: Abbott Laboratories - Business segments
Exhibit 113: Abbott Laboratories - Key news
Exhibit 114: Abbott Laboratories - Key offerings
Exhibit 115: Abbott Laboratories - Segment focus
12.4 BIOTRONIK SE and Co. KG
Exhibit 116: BIOTRONIK SE and Co. KG - Overview
Exhibit 117: BIOTRONIK SE and Co. KG - Product / Service
Exhibit 118: BIOTRONIK SE and Co. KG - Key offerings
Exhibit 119: Compumedics Ltd. - Overview
Exhibit 120: Compumedics Ltd. - Product / Service
Exhibit 121: Compumedics Ltd. - Key offerings
Exhibit 122: Dexcom Inc. - Overview
Exhibit 123: Dexcom Inc. - Product / Service
Exhibit 124: Dexcom Inc. - Key news
Exhibit 125: Dexcom Inc. - Key offerings
Exhibit 126: F. Hoffmann La Roche Ltd. - Overview
Exhibit 127: F. Hoffmann La Roche Ltd. - Business segments
Exhibit 128: F. Hoffmann La Roche Ltd. - Key news
Exhibit 129: F. Hoffmann La Roche Ltd. - Key offerings
Exhibit 130: F. Hoffmann La Roche Ltd. - Segment focus
Exhibit 131: General Electric Co. - Overview
Exhibit 132: General Electric Co. - Business segments
Exhibit 133: General Electric Co. - Key news
Exhibit 134: General Electric Co. - Key offerings
Exhibit 135: General Electric Co. - Segment focus
12.9 Johnson and Johnson Services Inc.
Exhibit 136: Johnson and Johnson Services Inc. - Overview
Exhibit 137: Johnson and Johnson Services Inc. - Business segments
Exhibit 138: Johnson and Johnson Services Inc. - Key news
Exhibit 139: Johnson and Johnson Services Inc. - Key offerings
Exhibit 140: Johnson and Johnson Services Inc. - Segment focus
Exhibit 141: Koninklijke Philips NV - Overview
Exhibit 142: Koninklijke Philips NV - Business segments
Exhibit 143: Koninklijke Philips NV - Key news
Exhibit 144: Koninklijke Philips NV - Key offerings
Exhibit 145: Koninklijke Philips NV - Segment focus
Exhibit 146: Masimo Corp. - Overview
Exhibit 147: Masimo Corp. - Product / Service
Exhibit 148: Masimo Corp. - Key offerings
Exhibit 149: Medtronic Plc - Overview
Exhibit 150: Medtronic Plc - Business segments
Exhibit 151: Medtronic Plc - Key news
Exhibit 152: Medtronic Plc - Key offerings
Exhibit 153: Medtronic Plc - Segment focus
Exhibit 154: Natus Medical Inc. - Overview
Exhibit 155: Natus Medical Inc. - Product / Service
Exhibit 156: Natus Medical Inc. - Key news
Exhibit 157: Natus Medical Inc. - Key offerings
Exhibit 158: Nihon Kohden Corp. - Overview
Exhibit 159: Nihon Kohden Corp. - Product / Service
Exhibit 160: Nihon Kohden Corp. - Key news
Exhibit 161: Nihon Kohden Corp. - Key offerings
Exhibit 162: OMRON Corp. - Overview
Exhibit 163: OMRON Corp. - Business segments
Exhibit 164: OMRON Corp. - Key news
Exhibit 165: OMRON Corp. - Key offerings
Exhibit 166: OMRON Corp. - Segment focus
Exhibit 167: Siemens AG - Overview
Exhibit 168: Siemens AG - Business segments
Exhibit 169: Siemens AG - Key news
Exhibit 170: Siemens AG - Key offerings
Exhibit 171: Siemens AG - Segment focus
Exhibit 172: Smiths Group Plc - Overview
Exhibit 173: Smiths Group Plc - Business segments
Exhibit 174: Smiths Group Plc - Key news
Exhibit 175: Smiths Group Plc - Key offerings
Exhibit 176: Smiths Group Plc - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 177: Inclusions checklist
Exhibit 178: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 179: Currency conversion rates for US$
13.4 Research methodology
Exhibit 180: Research methodology
Exhibit 181: Validation techniques employed for market sizing
Exhibit 182: Information sources
13.5 List of abbreviations
Exhibit 183: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
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