LONDON, Jan. 11, 2018 /PRNewswire/ -- Patient monitoring devices are used to observe vital parameters, such as heart rate and blood pressure of the patients. These devices, such as pulse oximeters, capnographs, and cardiac monitors, are increasingly used in hospitals, clinics, and various outpatient centers during minor & major surgeries and are expected to monitor the vital signs of multiple patients at the same time. The global patient monitoring devices market was valued at $21,127 million in 2016, and is estimated to reach at $32,435 million by 2023, registering a CAGR of 6.2% from 2017 to 2023.

The report analyzes the patient monitoring devices market into three segments, namely, product type, end user, and geography. On the basis of product type, it is divided into nine segments; hemodynamic, neuromonitoring, cardiac, fetal & neonatal, respiratory, multiparameter, remote patient, weight, and temperature monitoring devices. Hemodynamic monitoring devices can be further segmented into blood glucose, blood gas & electrolyte analyzer, and blood pressure monitors. Neuromonitoring devices is further categorized into electroencephalograph devices, magnetoencephalography devices, intracranial pressure monitors, transcranial Dopplers, and cerebral oximeters. Cardiac monitoring devices are further divided into electrocardiogram devices, Holter monitors, event monitors, and others (implantable loop recorders, cardiac output monitoring devices, and others). Fetal & neonatal monitoring devices are further categorized into ultrasound fetal Doppler, Electronic Fetal Monitoring devices (EFM), Fetal Doppler and Others. Respiratory monitoring devices are further segmented into capnograph, spirometer, sleep apnea monitor, and pulse oximeter. Multiparameter monitoring devices are further categorized into high, mid, and low acuity. Based on end users, the market is categorized into three segments; hospitals & clinics, home settings, and ambulatory surgical centers. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global patient monitoring devices market is driven by increase in the geriatric population, growth in the prevalence of patients suffering from different lifestyle diseases, and rise in the adoption rate of remote patient monitoring devices. However, the cost associated with this technology and issues related to government regulations & reimbursements are expected to hamper the global market growth. With the advancement in wireless technology, these devices are used to remotely monitor the physiological parameters of the patients, such as blood glucose level, blood pressure, heart rate, and provide appropriate treatment to the patients.

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