U.S. Patient Monitoring Systems Market Is Projected to Reach $22,583.40 Million by 2027 | AMR

Allied Market Research recently said The US patient monitoring systems market is a rapidly growing market that includes devices and systems used to monitor patients in hospitals, clinics, and other healthcare settings. These systems are used to continuously monitor a patient's vital signs, such as heart rate, blood pressure, respiratory rate, and temperature, and provide real-time data to healthcare providers, allowing them to quickly identify and address changes in a patient's condition. The U.S. Patient Monitoring Systems Market was valued at $12,200.96 million in 2019, and is projected to reach $22,583.40 million by 2027, registering a CAGR of 5.21% from 2020 to 2027.

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COVID-19 Impact Analysis (Pre & Post) -

• The demand for remote continuous monitoring and interaction to support patients for a long period has increased during the Covid-19 pandemic. Moreover, patient monitoring systems are vital to track heart conditions, temperature, and other parameters.
• In addition, there is increased demand for remote patient monitoring systems to effectively collect data to take care of patients who are at home.

The market is segmented by product type, application, and end-user. The product types include portable bedside monitors, central monitoring stations, telemetry monitoring, and wearable monitoring devices. The applications include cardiac monitoring, respiratory monitoring, neurological monitoring, fetal and neonatal monitoring, and others. The end-users include hospitals, clinics, and home healthcare settings.

By service, the device segment dominated the market in 2019, accounting for more than four-fifths of the U.S. patient monitoring systems market, due to high demand for patient monitoring devices and surge in geriatric population. However, the connectivity technology segment is projected to portray the highest CAGR of 14.9% during the forecast, owing to increase in demand for connected patient monitoring systems.

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Important Key Market Players Are -

• Abbott Laboratories,
• Biotronik Se & Co. Kg,
• Boston Scientific Corporation,
• General Electric Company (Ge Healthcare),
• F. Hoffmann-La Roche Ltd.,
• Koninklijke Philips N.V. (Philips Healthcare),
• Masimo Corporation,
• Medtronic Plc.,
• Nihon Kohden Corporation,
• Osi Systems, Inc. (Spacelabs Healthcare)

By device type, the remote patient monitoring devices segment is expected to register the highest CAGR of 6.0% during the forecast period, due to ease of use and various technological advancements it offers. However, the cardiac monitoring devices segment held the largest share in 2019, contributing to more than one-fourth of the segment, owing to high prevalence of cardiac disorders and high demand for cardiac monitoring devices.

Key Findings of The Study -

• By component, the device segment accounted for a share of nearly 84.5% in the U.S. patient monitoring devices market in 2019.
• By component, the connectivity technology segment is anticipated to grow with the highest CAGR of 14.9% throughout the forecast period
• By service type, the support and maintenance segment accounted for a share of 54.7% in the healthcare payer solution market in 2019.

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Geographic Segments Covered in the Report -

The U.S. Patient Monitoring Systems Market report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (USA and Canada)

• Europe (UK, Germany, France and the rest of Europe)

• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)

• Latin America (Brazil, Mexico, and the rest of Latin America)

• Middle East and Africa (GCC and rest of the Middle East and Africa)

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