In the next five years, the market size for patient monitoring equipment is expected to increase by USD 20 billion.There is a projected market size of 39 billion USD from 2022 to 2027, at a CAGR of 8 per cent.In fact, according to a recent market study conducted by Technavio, this number is 48%. In the global market for patient monitoring equipment, a number of advancements have been made in the technology that is used to monitor patients. In the healthcare industry, technological advancements, such as the development of wireless and wearable devices, have revolutionized the way healthcare is delivered. One of the main advantages of these devices is that they can continuously monitor vital signs, activity levels, and other physiological parameters of the patient without restricting the movement of the patient in any way. Moreover, these devices are capable of transmitting data wirelessly to healthcare professionals, as well as facilitating the monitoring and diagnosis of abnormalities in real-time. In addition, with the integration of artificial intelligence (AI) and machine learning (ML) technologies into patient monitoring equipment, we have been able to improve the accuracy of the monitoring systems, automate the analysis of data, and perform predictive analyses.. As a result, these factors are expected to drive market growth during the forecast period. To gain more insight into the historic period (2017 to 2021) and the forecast market size (2023 to 2027) - Request a sample report.
As a result, these factors are expected to drive market growth during the forecast period. To gain more insight into the historic period (2017 to 2021) and the forecast market size (2023 to 2027) - Request a sample report.
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A regional analysis of the market for patient monitoring equipment
According to estimates, North America is expected to account for 44% of the growth in the market. Among the key factors contributing to the growth of the patient monitoring equipment market in North America are technological advancements and the rising geriatric population, which are among the factors greatly influencing the growth of the market. A significant contribution to the market growth in the region can also be attributed to the advanced healthcare infrastructure and the early adoption of cutting-edge medical technologies. Therefore, there is a high level of expectation among patients in the region in terms of state-of-the-art medical equipment that is available. As well as this, there is also a strong demand for wireless connectivity, remote monitoring capabilities, and data analytics in the region, which are expected to drive the market growth during the forecast period.
As well as this, there is also a strong demand for wireless connectivity, remote monitoring capabilities, and data analytics in the region, which are expected to drive the market growth during the forecast period.
The Patient Monitoring Equipment Market - Segmentation AssessmentSegment OverviewThe market is segmented according to the end-user (hospitals, clinics, and ambulatory care services), the type of equipment used (benchside and remote patient monitoring equipment), and the region (North America, Europe, Asia, and the Rest of the World).
As the global patient monitoring equipment market grows over the next few years, there will be an increasing need to monitor patients remotely. The need for remote monitoring of patients will drive the global market for patient monitoring equipment over the next few years.. A major feature of a remote patient monitoring (RPM) system is that it allows healthcare providers to track patients outside the traditional healthcare setting in order to provide them with more personalized care. The preference for remote patient monitoring is on the rise among patients who prefer to receive care at home or in remote locations with limited access to healthcare facilities or those who prefer to receive care at home or in remote areas. Increasing needs for hospital readmissions, improved patient convenience, and early detection of potential health issues are all factors that are positively impacting the growth of the market. As a result, such factors are expected to have a negative impact on the market growth over the forecast period
As a result, such factors are expected to have a negative impact on the market growth over the forecast period
Market growth has been hindered by a number of major challenges
As a result of stringent regulations on medical equipment, the global market for patient monitoring equipment faces significant challenges. In order to comply with the regulatory environment for medical equipment, there are many stringent rules and guidelines, including those that apply to manufacturers of patient monitoring equipment.. Accordingly, the US Food and Drug Administration (FDA) and other regulatory agencies in the US enforce strict compliance monitoring obligations on manufacturers of medical equipment, including patient monitoring equipment, in order to ensure the safety and efficacy of their products.. There are a number of key regulatory agencies in the United States that monitor advertising associated with medical equipment, including the Federal Trade Commission, the Office of the Inspector General in the Department of Health and Human Services, the US Department of Justice, and the Attorneys General of a wide range of states.. Due to such stringent regulations, it is expected that the growth of the global patient monitoring equipment market will be hindered during the forecast period.
Due to such stringent regulations, it is expected that the growth of the global patient monitoring equipment market will be hindered during the forecast period.
Which are the key data points covered in this report on the Patient Monitoring Equipment Market?
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This is the table of contents for the book
The executive summary of the market is as follows:1 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation by User7 Market Segmentation by Type8 Customer Landscape9 Geographic Landscape10 Drivers, Challenges, and Trends11 Company Landscape12 Company Analysis13 Appendix.
Founded in 1998, USTechnavio is one of the world's leading technology research and advisory firms. As part of their research and analysis, they focus on emerging market trends and provide actionable insights that will help businesses identify opportunities in the market and develop strategies to optimize their positions on the market.. The Technavio report library consists of more than 17,000 reports and is growing every day, covering 800 technologies across 50 countries, and containing the insights of 500 specialized analysts. There are more than 100 Fortune 500 companies on their client list, and they serve enterprises of all sizes. The company's growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights in order to identify opportunities in existing and potential markets, as well as assess their competitive positions within changing market scenarios.
The company's growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights in order to identify opportunities in existing and potential markets, as well as assess their competitive positions within changing market scenarios.
Contact InformationTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com
Technavio is the source of this information
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