May 06, 2014
BCC Research (www.bccresearch.com) reveals in its new report,PATIENT MONITORING DEVICES: GLOBAL MARKETS, the global market for patient monitoring devices (PMDs) is expected to grow to nearly $21 billion by 2018, with a five-year compound annual growth rate (CAGR) of 7.4%. The Asian market, the fastest growing regional segment overall, is growing at a significant 8.9% CAGR.
Drivers of market growth include multiple product improvements: a decrease in the physical size of monitoring devices; enhanced utility, performance and sensitivity; usability and portability of devices; and increasing availability of remote/wireless patient monitoring equipment and systems. Also, remote patient monitoring and implantable patient monitors are areas of high growth potential that are gaining attention and interest.
PMDs, including those related to cardiac, critical care, neonatal care, gynae/OC care, diabetes, respiratory disorders, and neurology, play a pivotal role in health management of patients. The North America segment, by far the largest PMD market, is expected to grow to $9.1 billion by 2018, and register a CAGR of 7.1%.
However, Asia, which was valued at $2.7 billion in 2013, is expected to jump to $4.2 billion by 2018, outperforming all other regions.
“PMDs is an unevenly penetrated market, with different devices at different stages of their product life cycle and market penetration across different regions,” said BCC Research healthcare analyst Himani Singhi Wadhwa. “Devices specialized for diseases or patient conditions, such as glucose monitoring devices, cardiac and respiratory monitoring devices other than patient monitors, are some of the key opportunity areas that hold moderate to high growth potential for future growth of the PMDs market. In the report I've also covered promising new technologies and products that are still in the development and testing stages but which are likely to be commercialized successfully in the next five years.”
PATIENT MONITORING DEVICES: GLOBAL MARKETS provides an overview of the global market for patient monitoring devices, accessories, and consumables that are used to measure, display, and document physiological information obtained at regular intervals over time from sensors attached to the patient or other input devices. It includes analyses of global market trends, with data from 2012 and 2013, and projections of CAGRs through 2018. An examination of the market by application (e.g., intensive care, neonatal/pediatric care), product type (central monitoring stations, portable bedside monitors, wireless/telemetry monitors), and target markets (hospitals, long-term care facilities, and individual consumers) is also provided.
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Patient Monitoring Devices: Global Markets( HLC038D )
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