Patient Monitoring Device/System/Equipment Market Worth 25.31 Billion USD by 2023

PUNE, India, May 22, 2018 /PRNewswire/ --

According to a new market research report "Patient Monitoring Device/System/Equipment Market by Product (EEG, EMG, MEG, TCD, Peak Flow Meter, Pulse Oximeter, Fetal Monitoring, Temperature Monitoring Devices, MCOT, ECG, Hemodynamic Monitoring System), End User (Home, Hospital) - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to reach USD 25.31 Billion by 2023 from USD 19.14 Billion in 2018, at a CAGR of 5.7%. Factors such as the easy availability of wireless monitoring devices and the rising incidence of lifestyle and chronic diseases are expected to drive market growth during the forecast period. The growing demand for patient monitoring devices in non-hospital settings is also expected to provide a range of growth opportunities for players in the market. On the other hand, the risks associated with invasive monitoring devices are expected to challenge market growth to a certain extent in the coming years.

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Browse 106 market data Tables and 32 Figures spread through 150 Pages and in-depth TOC on "Patient Monitoring Device/System/Equipment Market" 

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The ECG segment is expected to account for the largest share of the cardiac monitoring devices market in 2018 

By product, the cardiac monitoring devices market is classified into ECG devices, IRLs, event monitors, MCT monitors, and smart wearable ECG monitors. In 2018, the ECG devices segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to the increasing incidence of cardiovascular diseases, the wide application of ECG devices in CVD management, the development of technologically advanced devices, and government initiatives.

The cerebral oximeter segment is expected to grow at the highest CAGR in neuromonitoring devices market during the forecast period 

By product, the neuromonitoring devices market is divided into EEG machines, cerebral oximeters, EMG machines, ICP monitors, MEG machines, and TCD machines. In 2018, the cerebral oximeters segment is expected to grow at the highest CAGR during the forecast period. Cerebral oximeters offer real-time data to physicians through a noninvasive procedure. This is a major factor driving the growth of this market. The real-time data obtained is useful to make emergency care decisions and observe the effects of interventions.