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 market is valued at $19 billion in 2017 due to the economic growth, increasing chronic diseases and increasing adoption of remote patient monitoring.
In the report, the global patient monitoring device market is divided into eight segments, namely, fetal and neonatal monitoring devices, weight monitoring and body temperature monitoring devices, multiparameter monitoring devices, cardiac monitoring devices, neuromonitoring devices, respiratory monitoring devices, hemodynamic monitoring devices and remote patient monitoring devices. While the first and the second segment accounts for nearly half of the market share and the remaining share is accounted for the other six segments.
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The USA was the largest country in the patient monitoring devices market in 2017, accounting for one-fifth of the market share. China and Japan followed the USA as the next largest countries in the market.
The patient monitoring devices market is fragmented with a number of large and small organizations. Siemens Healthineers was the largest competitor, followed by Medtronic Plc., Philips Healthcare, GE Healthcare and Dragerwerk. Siemens Healthineers provides medical diagnostics solutions, healthcare equipment and related services around the world. Siemens Healthineers formerly known as Siemens Healthcare operates as a subsidiary of Siemens AG and is headquartered in Erlangen, Germany.
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