Wireless Patient Monitoring Devices Market Projected to Rise at CAGR of 9.4% by 2027
The Wireless Patient Monitoring Devices market is segment based on product type into cardiac monitoring devices, respiratory monitoring devices, hematology monitoring devices, multi-sign monitors and others devices. The cardiac monitoring devices are further divided into ECG Monitoring, Heart Rate Monitors, Pediatric Heart Rate Monitors, Blood Pressure and Ultrasound devices. The Respiratory Monitoring Devices are further categorized into Respiration Rate Monitor, Spirometers and other devices. Also, the Hematological Monitoring Devices market is broken into Blood Glucose Monitor, Prothrombin Time Monitor and other devices.
The global Wireless Patient Monitoring Devices market is expected to reach USD 1.7 Billion by the end of 2027. The growth of Wireless Patient Monitoring Devices is dependent on the increasing prevalence of various diseases putting excessive strain on existing conventional diagnostic resources.
According to region North America wireless patient monitoring devices market is expected to depict a positive growth due to increased healthcare expenditure to mitigate the rising disease prevalence. Also, Asia Pacific market is expected to grow at the highest CAGR due to rising awareness regarding preventive treatment for various diseases such as respiratory diseases, strokes and heart failures, hypertension, diabetes for an early diagnosis. Further, China has the largest market share in the regional platform and is expected to continue its dominance over the forecast period due to increasing disease prevalence in these regions resulting in a growing demand.
In the regional market Europe is prominent market of Wireless Patient Monitoring Devices is expected to witness a positive growth rate over the forecast period. Countries such as Germany, France and Italy are expected to drive the market for European region.
Enables Early Diagnosis
Wireless patient monitoring has features such as real-time trend analysis of the psychological parameters and the remote monitoring to allow medical experts to detect any deterioration in the patient’s medical condition and thereby prevent major problems and lapses that could have far-reaching repercussions if left unattended to.
Increases Healthcare Accessibility
This technology allows healthcare providers to have a wider outreach to potential health care seekers as they are not limited to the confines of the traditional healthcare clinic or facility.
However, the increasing cost associated constraints along with limited accessibility in low and middle income countries is expected to negatively affect the market growth.
The report titled “Wireless Patient Monitoring Devices Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Wireless Patient Monitoring Devices market in terms of market segmentation by product type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Wireless Patient Monitoring Devices market which includes company profiling of Honeywell HomMed, Medtronics Inc, Boston Scientific Corporation, GE Healthcare, Johnson and Johnson, Philips Healthcare, Roche Diagnostics, Abbott Laboratories, Carematix, Nihon Kohden Corporation.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Wireless Patient Monitoring Devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.