Patient Monitoring Devices Market Analysis | Coherent Market Insights

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Patient Monitoring Devices Market Analysis
(2020-2027)

• Patient monitoring devices are used to collect
  and display physiological data. Common types of
  cardiac monitoring systems include, Holter
  monitor, event recorder, mobile cardiac
  telemetry, and insertable cardiac monitor.
• The global patient monitoring devices market is
  estimated to account for US 22,869.5 Mn in terms
  of value in 2020 and is expected to reach US
  35,209.0 Mn by the end of 2027.

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Global Patient Monitoring Devices Market Drivers

• Increasing prevalence of lifestyle diseases is
  expected to propel growth of the global patient
  monitoring devices market over the forecast
  period. For instance, according to the study,
  Global Prevalence of Type 2 Diabetes over the
  Next Ten Years (2018-2028), published by the
  American Diabetes Association, 500 million people
  worldwide suffered from type 2 diabetes in 2018.
• Moreover, increasing geriatric population is also
  expected to aid in growth the market. For
  instance, according to the World Health
  Organization, geriatric population is expected to
  reach 2 billion by 2050, up from 900 million in
  2015.  

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s

• Respiratory and Anesthesia Monitors held dominant
  position in the global patient monitoring devices
  market in 2019, accounting for 30.8 share in
  terms of value.

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Figure 1. Global Patient Monitoring
Devices Market Share (), by Value, by Device
Type, 2019
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Global Patient Monitoring Devices Market
Restraints

• Negative impact of U.S. medical device tax and
  rigorous FDA regulatory processes are expected to
  hinder growth of the market. The U.S. government
  scheduled to implement a 2.3 excise tax on
  medical devices sales in 2013.
• Moreover, security concerns associated with
  mobile devices are also expected to limit the
  market growth. 

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Global Patient Monitoring Devices Market
Opportunities 

• Investment in Holter monitoring is expected to
  offer lucrative growth opportunities for players
  in the global patient monitoring devices market.
  For instance, in December 2019, Biotricity Inc.,
  a medical diagnostic and consumer healthcare
  technology company, raised US 6 million for FDA
  Filing for its patch solution within the first 6
  months of 2020, which will be a novel product in
  the field of Holter monitoring.
• Moreover, launch of wireless electroencephalogram
  headsets is also expected to aid in growth of the
  market. For instance, in September 2019, Nihon
  Kohden launched its VitalEEG wireless
  electroencephalogram headset in the U.S., which
  is designed for quick setup and efficient
  placement of electrodes to evaluate brain health.

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• The global patient monitoring devices market was
  valued at US 21,505.5 Mn in 2019 and is forecast
  to reach a value of US 35,209.0 Mn by 2027 at a
  CAGR of 6.4 between 2020 and 2027.

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Figure 2. Global Patient Monitoring
Devices Market Value (US Mn), and Y-o-Y Growth
(), 2019-2027
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Market Trends/Key Takeaways

• Major players in the market are focused on
  launching programs to aid current customers who
  have lost insurance due to the COVID-19 pandemic.
  For instance, in April 2020, DexCom, Inc.
  launched a new patient assistance program that
  offers two 90-day supply shipments of Dexcom
  continuous glucose monitoring (CGM) system
  supplies and reduces customer cost to US 45 per
  90-day supply shipment, in order to aid current
  U.S. customers who have lost insurance due to the
  COVID-19 pandemic.
• Major players in the market are focused on
  adopting partnership strategies to expand their
  product portfolio. 

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• For instance, in July 2019, Caretaker Medical
  partnered with Mespere LifeSciences to integrate
  wireless CNIBP, Cerebral Oximetry, and other
  non-invasive hemodynamic measurements in a single
  monitoring platform

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Global Patient Monitoring Devices Market
Competitive Landscape

• Major players operating in the global patient
  monitoring devices market include, 3M Healthcare,
  Boston Scientific Corporation, Covidien,
  Draegerwerk AG and Co. KGaA, GE Healthcare,
  Medtronic Plc, Mindray Medical, Omron, Nihon
  Kohden Corporation, Biotricity Inc., Bittium
  Corporation, DexCom, Inc., Caretaker Medical,
  Shimmer, Edwards Lifesciences Corporation,
  Saranas, Inc., DiaMonTech GmbH, VivaQuant, and
  Philips Healthcare.

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Global Patient Monitoring Devices Market Key
Developments

• Major players in the market are focused on
  approval and launch of new products to expand
  their product portfolio. For instance, in
  November 2019, Shimmer, a U.S.-based developer of
  wearable technology, announced that ECGmd its
  five-wire, four-lead Holter monitor ECG, received
  CE mark
• Similarly, in August 2019, DiaMonTech GmbH, a
  medical technology startup, received the CE
  certification for its first medical product DMT
  Base, a device that offers non-invasive blood
  glucose measurement using laser-based technology.

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