Market scenario:
Patient monitoring devices are employed for continuous or non-continuous monitoring of medical parameters, disease condition and vital signs to gauge the condition of the patient. The patient monitoring devices afford early detections and tracking of health of the patient and are thus invaluable as a tracking and recording measures. The global patient monitoring devices market is anticipated to generate a CAGR growth of 8.9 % during the review period ending 2022.
Industry News:
Jan, 2017 - Abbott acquired St. Jude Medical, Inc., for approximate $25 billion creating a global behemoth which is expected to result in price increase due to consolidation. Abbott is expected to benefit from market expansion, diverse product portfolio, diagnostics, and others.
August, 2017 - Royal Philips acquired Spectranetics Corporation a leader in vascular intervention solutions.
November, 2017 - Philips acquired Analytical Informatics, Inc. with an aim of market expansion of Radiology Solutions portfolio.
Market Dynamics:
Drivers
Growing demand generated due to increased number of diseases, population especially the elderly, growing hospitalizations and others are prime drivers of the market. The other factors indirectly propelling the market growth are rising incomes, growing demand for continuous monitoring, growing screening as under the affordable healthcare act and others.
Technological drivers of the market include the growing sensitivity, selectivity and automation of the devices. Connected healthcare and internet of things technology (IOT) have immense future market potential. The advancements in analytics is another reason for market optimists to rejoice.
The development of 3D technology is expected to drive a considerable market CAGR due to features such as real time detection and 3D image generation. “Gone are the days of limited functionality”, says Mr. Suhail Noolkar, researcher at Market Research Future. Today’s patient monitoring devices are feature packed to brim. The need is to generate values so that the end customer sheds his pocket leading to faster adoption and growth, he adds with a smile on his face.
https://www.marketresearchfuture.com/reports/patient-monitoring-devices-market-2484