iData Research (“iData”), a global consulting and market research firm, has released exclusive research on the European patient monitoring equipment market. Although most medical device markets have experienced declines, the COVID-19 outbreak has positively affected the patient monitoring device market. The European market is experiencing growth over the forecast period which iData forecasts are due to demographic factors, the expansion of monitoring, greater interconnectivity, and technological advancements.
According to iData’s EU Report for Patient Monitoring Equipment Market, the European market was estimated at just over €1.9 billion in 2020. Furthermore, the market has continued to increase moving into 2022 and is expected to reach almost €2.3 billion by 2027. This report includes unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more.
The overall patient monitoring equipment market encompasses multi-parameter vital signs monitoring, wireless ambulatory telemetry, cardiac output (CO) monitoring, electromyogram (EMG) monitoring, electroencephalography monitoring, fetal and neonatal monitoring, pulse oximetry, telehealth, intracranial pressure (ICP) monitoring, cerebral oximetry and blood pressure monitoring.
“Overall market growth was primarily driven by the COVID-19 pandemic paranoia”, says Dr. Kamran Zamanian, Senior Partner and CEO of iData Research, “Healthcare facilities rushed to stock up on necessary monitoring equipment and accessories due to the unknown length of the pandemic.”
Among the many competitors within these markets, Philips Healthcare, Medtronic, and GE Healthcare are the European leaders followed by Mindray Medical and Natus Medical. Dräger Medical, Biotronik, and Edwards Lifesciences are trailing the leaders by a substantial margin, pushing for a larger share of the European market. There is a multitude of other competitors analyzed within this report which have one or more products offered in this space.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands as well as procedural volumes, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
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