Patient Monitoring Devices Market – Key Players & Growth Strategies Adopted by Them

Posted July 13, 2022 by johnnyandrew

Patient Monitoring Devices Market by Product (EEG, MEG, TCD, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitoring, MCOT, ECG, ICP, ILRs, Blood Glucose Monitoring, Blood Pressure Monitor), End-User (Hospitals, ASCs) - Global Forecast
Overview of This Study:

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

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Attractive Opportunities Patient Monitoring Devices Market

The growth of this market is mainly driven by increasing number of hospitals in key markets, increasing adoption of wearable and wireless patient monitoring devices for home care, and increasing awareness of monitoring essential parameters for the treatment and diagnosis of chronic diseases.

Recent Developments in Patient Monitoring Devices Market

In 2020, Medtronic received the US FDA approval for its LINQ II Insertable Cardiac Monitor (ICM). It is a implantable devices for determining the irregular heart rythm.
In 2020, Medtronic and Tandem Diabetes Care, Inc underwent patent cross-license agreement, as per which both companies can cross-license each other’s patent portfolio for five years and jointly focus on innovating new products and services for diabetes management.
In 2020, Masimo Corporation acquired the connected care business from NantHealth, which helped strengthen its position in the connected care market.
Opportunity: Growing demand for patient monitoring devices in non-hospital settings

In recent years, the rising healthcare expenditure, especially in hospital settings, has shifted the focus towards alternative methods of treatment, such as home healthcare. This, in turn, has ensured a growing demand for effective home-use devices such as thermometers, pulse oximeters, weight scales, ECG monitors, event monitors, EEG recorders, and fetal monitors.

Global Key Market Players

Abbott Laboratories (US), HILL-ROM HOLDINGS, INC. (US), Drägerwerk AG & Co. KGaA (Germany), Edwards Lifesciences Corporation (US), OMRON Corporation (Japan), Masimo Corporation (US), Compumedics Limited (Australia), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Nihon Kohden Corporation (Japan), Natus Medical (US), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US)

Different Growth Strategies Adopted by Them:

The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017–2020 to expand their global presence and increase their market shares in the patient monitoring devices market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. In 2019, the patient monitoring devices market was dominated by Medtronic plc (Ireland), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Abbott Laboratories (US), Nihon Kohden Corporation (Japan), and Masimo Corporation (US).

Medtronic plc (US) has a wide range of product offerings in the patient monitoring devices market, including neuromonitoring, respiratory monitoring devices, cardiac monitoring devices, and blood glucose monitoring products. The company’s flagship product─BIS brain monitoring system–is among the most widely used systems in the patient monitoring devices market.

GE Healthcare (US) is a leader in the global patient monitoring devices market. GE Healthcare is a developer of innovative solutions for patient monitoring devices in fields such as multi-parameter monitoring devices, cardiac monitoring devices, and fetal and neonatal monitoring devices.

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Major Revenue Growth Expectations:

The patient monitoring devices market is projected to reach USD 55.1 billion by 2025 from USD 36.4 billion in 2020, at a CAGR of 8.6% during the forecast period.
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Issued By johnny
Country United States
Categories Blogging , Business
Tags patient monitoring devices market
Last Updated July 13, 2022