Global Next Generation Patient Monitoring Devices Market – Detailed Analysis of Current Industry Figures with Forecasts Growth By 2031

Published : 3 years ago, on 16/08/2021

The global demand for next-generation patient monitoring devices witnessed major rise in Covid-19 pandemic due to the rising focus on health and well-being amongst the people in 2020. Researches are continuously being undertaken by several manufacturing companies in 2021 to develop highly equipped patient monitoring devices for present as well as future generation patients.

Shifting focus of healthcare industries to value-based and patient-centric monitoring solutions continues to favor market growth. The integration of advanced technologies in wireless devices is a recent trend in next-generation patient monitoring devices.

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Rising number of Covid-19 cases and other fatal diseases are putting a pressure to focus on high-tech patient monitoring devices. The growing demands for advanced medical facilities in 2021 continues to add lucrative progress. Medtronic and Abbott Laboratories are among the best players in this market which are continuously engaged in bringing innovations in their offerings.

Next Generation Patient Monitoring Devices Market: Drivers & Restraints

Several advantages of next generation patient monitoring devices in assisting patient care such as reduced adverse events, improving hospital efficiency, improving patient outcomes, real time data monitoring and storage, lesser hospital stays etc. supports the adoption and market growth of these devices. The next generation patient monitoring devices also has the potential of minimizing the healthcare costs which further fuels their adoption in hospital settings. Several factors such as hospital’s financial & budget constraints, lack of advanced medical facilities, lack of trained professionals in various developing as well as under-developed nations restricts the market growth for these next generation patient monitoring devices.

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Next Generation Patient Monitoring Devices Market: Segmentation

Segmentation by Service Type:

• MRI Compatible Devices
• Non-MRI Compatible Devices

Segmentation by Component:

• Wearable component
• Non-Wearable component

Segmentation by Application:

• Diagnosis
• Treatment monitoring

Segmentation by End User

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Diagnostic Centers
• Home Care Settings

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Next Generation Patient Monitoring Devices Market: Overview

Companies involved in the Next Generation Patient Monitoring Devices services market are involved in continuous advancement of their manufacturing technologies to develop innovative solution with focus on more precise and low cost devices. These manufacturers are collaborating with healthcare professionals and organizations for network building and increasing sales. The demand of next generation patient monitoring devices in anticipated to increase with the rise in incidences of chronic diseases, increasing aging population and improving healthcare facilities.

Next Generation Patient Monitoring Devices Market Treatment Market: Key Players

Some of the players in the Next Generation Patient Monitoring Devices market includes Boston Scientific Corporation, Koninklijke Philips N.V., Nihon Kohden Corporation, F. Hoffmann-La Roche Ltd., LifeWatch AG, Medtronic, Abbott, eDevice, Isansys Lifecare Ltd, Zywie Inc. etc.

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