iData Research (“iData”), a global consulting and market research firm, has released exclusive research in the U.S. patient monitoring equipment market, addressing key insights and the consequences of COVID-19 in 2020, 2021, and beyond. Ironically, the value of the U.S. patient monitoring device market significantly increased in 2020, due primarily to extensive demand driven by the global COVID-19 pandemic. iData forecasts that the U.S. patient monitoring equipment market is projected to continue growing over the forecast period, primarily driven by the increasing elderly population and number of chronically ill patients.
According to iData’s U.S. Report for Patient Monitoring Equipment, the U.S. market reached $7.4 billion in 2020, an almost 10% increase from 2019. The value of the market increased in 2020, relative to 2019, due to strong demand from COVID-19 driven cases. Moving forwards, the market is expected to reach $10.8 billion by 2027. This report includes unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more.
iData’s analysis includes the multiparameter vital signs monitoring, wireless ambulatory telemetry, remote patient monitoring, intracranial pressure monitoring, electromyogram (EMG) monitoring, electroencephalogram (EEG) monitoring, cerebral oximetry monitoring, fetal and neonatal monitoring, pulse oximetry monitoring, cardiac output monitoring, blood pressure monitoring, electrocardiogram (ECG) monitoring and temperature management markets. The most prevalent trend in the patient monitoring equipment market is the integration of monitoring devices into Internet of Things (IoT) settings. This is evidenced by strong double-digit growth in the remote patient monitoring market, which is expected to continue throughout the forecast period.
“Patient monitoring and diagnostic equipment is increasing in popularity and will be in higher demand,” Says Dr. Kamran Zamanian, Senior Partner and CEO of iData Research, “Their ease of use, accuracy, and affordability will become an important factor in product development.”
The U.S. market for patient monitoring equipment is heavily dominated by Medtronic, Philips Healthcare, and GE Healthcare. Medtronic represented the majority of the total U.S. patient monitoring equipment market share in 2020. The company was a major player in the remote patient monitoring, ICP, cerebral oximetry, and pulse oximetry monitoring markets.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
Follow the link below to download a Free Research Summary of the U.S. Market Report for Patient Monitoring Equipment. Other titles for the European Patient Monitoring Market is also available:
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