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Cranfield, UK, 9th August 2024 – Signify Research has created an infographic showcasing the projected market growth for the Patient Monitors market for the next 5 years. It also provides an overview of the current competitive landscape and key trends shaping the market. This infographic provides a snapshot of the detailed insights discussed within our Patient Monitors market report 2024.
Market Overview
The Global Patient Monitors market experienced a spike in growth during 2023, as delayed orders were realised, new connected solutions came to market, and enterprise-level monitoring solutions continued to gain traction. Consequently, the overall market CAGR to the end of our forecast period in 2028 will be restrained to a projected low-single-digit trajectory. The Mobile Continuous Device and Cardiac Telemetry Device markets will, however, both achieve stronger growth potential, as the ability to continuously monitor patients throughout their care journey becomes a pre-requisite from early adopters in advanced health systems.
In North America, advanced health systems are deploying Enterprise-wide Patient Monitoring Ecosystems, typified by continuous and flexible monitoring of patients, integrations with third-party clinical decision and workflow tools, and long-term vendor-provider partnerships.
In the EMEA region, traditional Patient Monitor models predominate, though some long-term partnerships have been developed in Western Europe and the Middle East. Budgets in Western Europe remain under pressure highlighting the need for purchasing models to shift from CapEx to OpEx to support partnership models.
In the mature APAC region, demand for High-End solutions will be supported by investments in Digital Health and Smart Hospitals. Emerging APAC markets will experience the fastest growth across all Patient Monitor markets, though localisation policies will continue to complicate market access.
Competitive Landscape
Philips remains the biggest vendor in the overall Patient Monitoring market, followed by GE HealthCare, Mindray, Nihon Kohden, and Baxter. All have made significant moves in the market over the past 12-18 months. Developments include Philips’ commercial release of the Philips Visual Patient Avatar Solution, GE HealthCare’s CANVAS and Portrait portable vital signs Monitor (VSM), and Mindray’s BeneVision N-Series integration with Edwards FloTrac™ sensor for hemodynamic monitoring.
Related Research
Signify Research has recently published its ‘Patient Monitors —World—2024’ report. A highly detailed market analysis of the core patient monitor market with additional break outs by clinical setting. This iteration expands on last year’s offering, now including additional country breakouts.
About The Author
Gareth joined Signify Research in 2021 as Senior Market Analyst in the Digital Health team, where he covered emerging markets including Remote Patient Monitoring (RPM) and Ambulatory Patient Monitors. In 2023, Gareth joined Signify’s Clinical Care team where, his coverage areas include Patient Monitors and Patient Monitors.
About the Clinical Care Team
The clinical care team provides market intelligence and detailed insights on the clinical care equipment and IT markets. Our areas of coverage include patient monitoring, Patient Monitors, infusion pumps, ventilators, anaesthesia devices, and high-acuity IT. Our reports provide a data-centric and global outlook of each market with granular country-level insights. Our research process blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
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