Patient Monitoring Pods Market – Key Players & Growth Strategies Adopted by Them
In critically ill patients continuous measurement of patient parameters such as heart rate & rhythm, respiratory rate, blood pressure, blood-oxygen saturation, are necessary. Heart diseases is a worldwide problem and may result in physical dysfunction or even death. Hence, proper monitoring of heart disease patients is important at regular interval.
The patient monitoring pods are easy and reliable way to monitor the pulse rate, muscle relaxation status of an anesthetized patient etc. The patient monitoring pods provide ease in making treatment decisions and adjustments to neuromuscular blockade.
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The patient monitoring pods system would help the user to monitor electrical activity of the heart and inform about any abnormality recognized in order to avoid delay in the treatment process. Chronic diseases are the leading cause of mortality and morbidity and are likely to impose an even larger burden in the future.
The use of advanced technology has not only affected the safety and health aspects of the people but also created major economic impact.
Portable and standalone patient monitoring pods for diagnosis and monitoring of human physiological conditions are becoming common. The patient monitoring pods are introduced in hospital care and ambulatory surgical setting, to address different needs. Sudden cardiac death is increasing among both elderly and young people.
The risk may be reduced by advancing patient monitoring pods devices. Previously, heart monitoring devices were bulky with wires and electrodes that are connected to the patients and also required long stay in hospitals. The advanced patient monitoring pods have halted the use of big patient monitoring system and is itself capturing the market.
The new and advanced patient monitoring pods are easily adapted, reliable and perhaps better to detect various types of arrhythmias, such as atrial fibrillation, progression of myocardial infarction, respiration rate, fatal monitoring and others.
According to American Heart Association statistical report on heart disease and stroke statistics, about 17.3 Mn deaths occur each year in the U.S., and this number is expected to rise about 23.6 Mn by 2030.
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Patient Monitoring Pods Market: Drivers and Restrains
According to Centers for Disease Control and Prevention, it is estimated that in the U.S. about 2.7 Mn people suffer from atrial fibrillation, and this number would rise with the increase in geriatric population. The atrial fibrillation costs about US$ 6.0 Bn per year to the U.S. healthcare system.
The rise in prevalence of cardiovascular diseases, respiratory diseases will demand technologically advanced patient monitoring pods. Rise in geriatric population, preference for home and remote monitoring, ease-of-use and portable devices, growing prevalence of lifestyle diseases and growing awareness towards health, coupled with launch of new advanced technologies for diagnosis and monitoring of heart diseases are some other factors expected to boost the growth of global patient monitoring pods market.
The major challenges associated with the patient monitoring pods market are lack of reimbursement, high cost, stringent regulatory framework, availability of alternative patient monitoring devices, security issues etc. among others.
Patient Monitoring Pods Market: Overview
Based on the product type, the global patient monitoring pods market is segmented into hemodynamic monitoring devices, Neuromonitoring devices, cardiac monitoring devices, fatal and neonatal monitoring devices, respiratory monitoring devices, multi-parameter monitoring devices, and others.
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Based on therapeutic area, the patient monitoring pods market is segmented into cardiology, neurology, respiratory, fatal & neonatal and others. Based on the end user the patient market is segmented into clinics, hospitals, ambulatory care centers, home care settings, ambulatory care centers and others.
The rise in incidences of cardiovascular diseases, funding by the governmental bodies to initiate research and development in mobile healthcare market, companies focusing on collaboration, acquisition, and merger are factors attributed to the growth of global patient monitoring pods
Patient Monitoring Pods Market: Regional Overview
Geographically, the global patient monitoring pods market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is estimated to account for major share, as cardiovascular diseases and respiratory diseases are prevalent among Americans, According to American Heart Association, about 90% of American population are unable to recognize cardiac problems, thus having high necessity for patient monitoring pods.
Asia Pacific is expected to witness substantial growth in patient monitoring pods market due to rising incidence of heart disease with low prices that are favored among patients in developing countries.
Patient Monitoring Pods Market: Key Players
Some of the key players in global Patient Monitoring Pods Market are Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., GE Healthcare Inc., Boston Scientific Corporation, Honeywell International, Inc., Medtronic PLC, Smiths Medical, Inc., OSI Systems, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., IRadimed Corporation and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Patient Monitoring Pods Market: Segmentation
The global patient monitoring pods market has been classified on the basis of product type, end user and geography.
Based on product type, the patient monitoring pods Market is segmented into following:
- Hemodynamic Monitoring Devices
- Neuromonitoring Devices
- Cardiac Monitoring Devices
- Fetal and Neonatal Monitoring Devices
- Respiratory Monitoring Devices
- Multi-Parameter Monitoring Devices
Based on therapeutic area, the patient monitoring pods Market is segmented into following:
- Fetal & Neurology
Based on the End User, the global patient monitoring pods Market is segmented into following:
- Home Care Settings
- Ambulatory Care Centers
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