The patient monitoring devices industry manufactures equipment for measuring vital health parameters, such as heart rate, respiratory rate, blood pressure and body temperature. Patient monitors, also referred to as medical monitors or physiological monitors, typically consist of sensors, processing components, display devices and communication links.
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The global patient monitoring devices market has shown high growth in the past years with a CAGR of around 7%. The year 2017 recorded highest ever market value in this industry as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the patient monitoring devices market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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The prevalence of chronic diseases is increasing at a fast pace world-wide. According to a UN article, by 2030 the proportion of global deaths due to chronic diseases is expected to increase to 70% of total deaths. The global burden of chronic disease is expected to reach about 60%. Unhealthy lifestyles are the key factor for this expected high rise in chronic conditions. The increasing prevalence of chronic diseases will be a key driver for the patient monitoring devices market during the forecast period.
TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.
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Companies included in the report are Siemens Healthineers, Medtronic Plc., Philips Healthcare, GE Healthcare and Drägerwerk.
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