9 Patient Monitoring Equipment Companies to Watch Out for

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Patient monitoring equipment

Globally, the market for patient monitoring devices and equipment includes products that are designed to measure and observe changes in vital signs, or the neurological, hemodynamic, and cardiac functions of a patient. The right medical device can save lives by helping doctors monitor patients’ vital signs, diagnose illnesses, and provide treatment. But, understanding this market can be tricky. To provide assistance, we have outlined the top 10 companies that are currently competing within the global patient monitoring equipment market below.

1. Philips Healthcare 

Philips Healthcare has been making healthcare devices since 1891. Today, Philips makes everything from diagnostic imaging systems to surgical robots. It also offers a wide range of products for patient monitoring, such as blood pressure monitors, pulse oximeters, and electrocardiogram (ECG) machines. In 2021, Philips was the leading competitor in the global patient monitoring market. The company was able to lead a number of notable segments within the global patient monitoring equipment market including multi-parameter vital signs monitoring, wireless ambulatory telemetry monitoring, and fetal and neonatal monitoring.

2. GE Healthcare

GE Healthcare is an American multinational medical technology company headquartered in Fairfield, Connecticut. Founded in 1889 by Charles Coffin Gilman, it was originally known as the General Electric Company. In addition to its medical division, GE Healthcare operates businesses in aviation, finance, media, energy, industrial technologies, lighting, transportation, water, and other industries. GE managed to become the second-leading competitor within the global patient monitoring market in 2021. The company offers a complete portfolio of products including a range of low to high-acuity monitoring devices along with telemetry devices and networking solutions. 

3. Medtronic

In 2021, Medtronic was ranked third in the global market for patient monitoring equipment. The company competes closely with Masimo in that industry and, because of its reliance on pulse oximetry, most of Medtronic’s market position comes from that industry. Under the Nellcor™ brand name, Medtronic offers a variety of pulse oximetry products under the OxiMax™ technology, including a variety of sensor and monitor types.

4. Masimo 

Masimo is a global player in the patient monitoring equipment market. Like Medtronic, Masino generates all of its revenue from the pulse oximetry market. Because of this, Masimo competed closely with Medtronic globally. There are many sophisticated technologies developed by Masimo, including the Rainbow® Pulse CO-Oximetry™ and the Rainbow® Acoustic™.

5. Mindray Medical

As of 2021, Mindray Medical ranks as a noteworthy competitor in the global patient monitoring equipment market. The company’s strength can be attributed to its affordable prices and quality products. This type of product portfolio also benefits Mindray on the regional level. A minor share of the pulse oximetry market was held by the company in 2021, which competed in both the multi-parameter vital signs monitoring and wireless ambulatory telemetry markets.

6. Nihon Kohden

Among its most prolific competitors in 2021, Nihon Kohden dominated the global patient monitoring equipment market in five segments: fetal and neonatal monitoring, telemetry, EEG monitoring, and EMG monitoring. In terms of products, there are two central patient monitoring products offered by the company, CNS-9701™ and CNS-9601™ along with a bedside monitor product line. 

7. Omron Healthcare

Omron Healthcare, which dominated the blood pressure monitoring market in 2021, was a noteworthy competitor in the global patient monitoring equipment market. Over multiple regions, the company held a significant lead in that market. Omron Healthcare produces an extensive product line which includes professional digital devices sold under the IntelliSense® brand that are both automatic and manual.

8. Welch Allyn

 Welch Allyn is among the top competitors in the global patient monitoring market and was able to hold a minor portion of shares in 2021. One of the reasons contributing to why the brand remains successful is its affordable spit-check oriented Spot Vital Signs® line and robust Connex® and 300series monitors. Welch Allyn stands to gain share as the company pushes its opportunities in the low-acuity segment with efforts driving to improve the availability of monitoring in general care units around the world.

9. Natus Medical

Natus Medical is the leader in both the EEG and EMG monitoring segment, however, the company ranked ninth overall in the global market. Despite this, the company boasts extensive product lines within its Xltek®, Schwarzer®, and Stellate® divisions. These products supply neurodiagnostic devices for both the adult and neonate markets with flexible platforms and a wide range of channels. 

As patient monitoring devices and equipment evolve to become more efficient, less costly, and more comfortable for patients and healthcare professionals alike, a shift from old equipment to new technologies is essential. With several companies present in the global market, many are fighting to push the boundaries on innovation and gain market shares. As outlined above, there are nine companies that each offer unique products within the global patient monitoring equipment market. If you find yourself interested in better understanding the average selling prices (ASPs), units sales, revenue, COVID-19 impacts, and market drivers and limiters, check out our full report which discusses all of the above and more.

 

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Emma Matrick9 Patient Monitoring Equipment Companies to Watch Out for

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