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Market Research Forecasts Patient Monitoring Devices Market at $19 Billion by 2016(May 15, 2012)
ROCKVILLE, MD -- (Marketwire) -- 05/15/12 -- MarketResearch.com has announced the addition of the new report "Patient Monitoring Devices / Equipments / Systems Market (2011 - 2016)," to their collection of In Vitro Diagnostics market reports. For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Patient-Monitoring-Devices-Equipments-Systems-6921348
The patient monitoring devices market consists of segments like hemodynamic, neurology, cardiac, respiratory, fetal and neonatal, multi-parameter, remote patient monitors and temperature & weight management monitors. The global patient monitoring devices market was valued at $14.2 billion in 2011 and is poised to grow at a CAGR of 5.9% from 2011 to 2016 to reach $18.9 billion.
The market will be driven by increasing aging population, rising incidences of lifestyle diseases, home and remote monitors and increasing portability of equipments. However, the economic slowdown and unstable reimbursement policies will restrict the growth of this market to a certain extent.
North America is the biggest market, about 46%, for patient monitoring devices, followed by Europe with 27% share. However, the Asian countries represent the fastest growing markets due to large population and increased purchasing power of patients. Moreover, economic slowdown in western countries will compel the companies to focus on the Asian markets.
As end-users, hospitals occupy a share of 55% in the patient monitoring devices market, home monitoring accounts for 38.3% share. By 2016, hospitals will lose 2.8% share to home monitors owing to the fact that demand for home monitoring is increasing and strict government policies are being implemented to reduce patient stay in hospitals.
The major players in this market are Philips Healthcare (The Netherlands), GE Healthcare (UK), MindRay Medical (China), Omron Healthcare (Japan), Draeger Medical (Switzerland), Nihon Kohden (Japan), Masimo (U.S.), Covidien (Ireland), CareFusion (U.S.), Welch Allyn (U.S.), and Schiller AG (Switzerland).
For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Patient-Monitoring-Devices-Equipments-Systems-6921348
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