Global Patient Monitoring Devices Market on the Rise, Projected to Reach $34.5 Billion by 2027

The Business Research Company’s Patient Monitoring Devices Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 28, 2023 /EINPresswire.com/ -- The global patient monitoring devices market has witnessed significant growth, escalating from $23.46 billion in 2022 to $25.53 billion in 2023, marking a commendable Compound Annual Growth Rate (CAGR) of 8.8%. Nevertheless, the patient monitoring devices market is anticipated to continue its upward trajectory, reaching $34.5 billion by 2027, with a CAGR of 7.8%.

Rising Demand for Monitoring Devices Amidst Healthcare Workforce Shortage
The healthcare services industry faces a shortage of professionals, as highlighted by a Mercer report indicating the need for 2.3 million new healthcare workers in the US by 2025, encompassing nurses, physicians, lab technicians, and other healthcare personnel. This shortage is anticipated to drive the demand for patient monitoring systems. These devices empower medical professionals to remotely track multiple patients, contributing to the growth of the patient monitoring devices market in the forecast period.

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Key Players Shaping the Market Landscape
Major companies contributing to the patient monitoring devices market include General Electric Company, Koninklijke Philips N.V., Draegerwerk AG, Cardinal Health, Inc., Masimo, Stryker Corporation, Medtronic Inc., Edwards Lifesciences, Flex Ltd., and Nihon Kohden Corporation. These industry leaders play a crucial role in driving innovation and technological advancements in patient monitoring devices.

Market Segmentation Addressing Varied Needs
The global patient monitoring devices market is segmented into various categories:
1. By Type: Fetal and Neonatal Monitoring Devices, Weight Monitoring and Body Temperature Monitoring Devices and Equipment, Vital Parameter Monitoring Devices and Equipment, Remote Patient Monitoring Devices and Equipment
2. By End User: Hospitals and Clinics, Diagnostic Laboratories, Other End Users
3. By Type of Expenditure: Public, Private
4. By Product: Instruments/Equipment, Disposables

Regional Dynamics: Asia-Pacific Leads, North America Follows
In 2022, Asia-Pacific emerged as the largest region in the global patient monitoring devices market, with North America securing the second-largest market share. The patient monitoring devices market analysis report comprehensively covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Patient Monitoring Devices Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Patient Monitoring Devices Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on patient monitoring devices market size, patient monitoring devices market drivers and trends, patient monitoring devices market major players, competitors' revenues, market positioning, and market growth across geographies. The patient monitoring devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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