Worldwide demand for next generation patient monitoring devices is expected to increase at a robust CAGR of 8.9% from 2022 to 2032. At present, the global next generation patient monitoring devices market is valued at US$ 4.38 billion and is expected to reach US$ 10.27 billion by the end of 2032. Next-generation patient monitoring devices are comprised of a wearable component, which includes devices with sensors and non-wearable components, such as monitoring devices. These devices are linked through wireless networks and analytical algorithms to both ends.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Next Generation Patient Monitoring Devices Market both at worldwide and provincial levels.
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Market Players: –
- Boston Scientific Corporation
- Nihon Kohden Corporation
- Koninklijke Philips N.V.
- F. Hoffmann-La Roche Ltd.
- Medtronic
- Abbott
- eDevice
- Isansys Lifecare Ltd.
- Zywie Inc.
“Rising Focus on Health and Well-being Driving Demand for Next Generation Patient Monitoring Devices”
According to Fact.MR, a market research and competitive intelligence provider, demand for next generation patient monitoring devices is expected to rise at a healthy CAGR of 8.9% from 2022 to 2032.
The global next generation patient monitoring devices market is anticipated to experience an exponential rise over the coming years. These monitoring devices are developed to monitor patients who prefer staying away from hospitals or clinics.
These devices are also known to provide certain relief to hospitals which are getting busier these days due to the rise in patients. These devices help the doctor to stay in touch with the patients. Moreover, to improve efficiency and deliver better service to a hospital, uptake of these next generation patient monitoring devices is surging.
Factors such as reduced adverse events, improved patient outcomes, lesser hospital stays, and helping hospitals to improve their efficiency are bolstering the growth of the market. These devices are also known to reduce healthcare costs which are attracting the middle class thus adding more fuel to the growth of the market.
Remote monitoring technology in next generation patient monitoring devices provides access to broader geographical areas, including less-served regions, which reduces the cost of treatment and time of travel.
Competitive Landscape
Next generation patient monitoring device manufacturers are involved in the continuous advancement of their manufacturing technologies to develop innovative solutions with a focus on more precise and low-cost devices.
Next generation patient monitoring device providers are also collaborating with healthcare professionals and various organizations for network building to increase their sales potential.
For instance :
- In 2020, Royal Philips, a global leader in health technology, launched next-generation wearable biosensors for early patient deterioration detection. This is helping clinicians detect risks so that they can intervene earlier and help in improving patients’ health in lower acuity care areas.
Key Segments Covered in Next Generation Patient Monitoring Devices Industry Research
- By Service :
- MRI Compatible Devices
- Non-MRI Compatible Devices
- By Component :
- Wearable Components
- Non-wearable Components
- By Application :
- Diagnosis
- Treatment Monitoring
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
How Fact.MR Assists in Making Strategic Moves?
The data provided in the Next Generation Patient Monitoring Devices Market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
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