2019 Patient Monitoring Devices Market Growth And Trends Analysis By TBRC

The patient monitoring devices market consists of the sales of patient monitoring devices and related services by entities (organizations, sole traders and partnerships) that manufacture patient monitoring devices used for monitoring vital health parameters. In this report, the two terms – ‘patient monitoring devices’ and ‘patient monitoring equipment’ – can be used interchangeably.

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Major Competitors are Philips Healthcare, GE healthcare, Medtronic Inc., Omron Corporation, Masimo.

Growth in the historic period resulted from the increase in the size of the aging population, emerging markets growth, technological advances, and rising healthcare expenditure. Factors that negatively affected growth in the historic period were lack of healthcare awareness and decreasing reimbursements.

Going forward, economic growth, increasing prevalence of chronic diseases, and increasing adoption of remote patient monitoring devices which are cost effective will drive growth. Factors that could hinder the growth of the patient monitoring devices market in the future are government regulations, the high initial investment costs and interest rate increases.

Major Trends influencing the patient monitoring devices market include:
Medical Body Area Network (MBAN) – Technological advances in wireless communications have enabled the development of small, intelligent and cost-effective medical sensor nodes. These nodes can be strategically placed on a patient`s body to create a wireless medical body area network (MBAN).

Wearables and Mobile Applications – Medical device manufacturers, technology companies and other investors have invested heavily in health monitors, glasses, wearables segments and mobile apps. In 2015, Google launched the prototype of a wearable watch that will test blood sugar levels in a patient’s blood without the use of a needle or lancet. In 2015, DexCom received FDA approval for Dexcom G5 mobile continuous glucose monitoring (CGM) system.

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