Patient Monitoring System Market Is Expected To Grow 15% CAGR till 2025

Patient Monitoring System Market

Asia Pacific (APAC) Patient Monitoring System Market Outlook 2024: Global Opportunity And Demand Analysis, Market Forecast, 2016-2024, The emerging healthcare industries are experiencing stellar modification in monitoring patients. Patient monitoring system is the term used for all the devices that is used to examine and observe patients, their physiological function and supervision. Some devices are used for alerting physicians and doctors if any patient is in critical stage. Patient monitoring devices are used when there are cases of drug overdose, symptoms of heart attack and growth in chronic diseases.

Global patient monitoring system market is at emerging pace because of vast adoption of monitoring devices in healthcare industry. Asia Pacific holds 20% market share in patient monitoring system market in 2016. Japan is the largest country that dominated the Asia Pacific patient monitoring system market in 2016 followed by China, India and Korea. Recently, Korean scientist have developed electronic skin device for the first time in the world. When the device is put on skin, it can monitor biostatic information of patient 24/7. It can also be connected to smart phones.

A latest heart attack controlling device was launched by Omron healthcare Inc, a Japan based company in 2016 to help heart patients. The company aims to reduce the number of heart patent to zero by focusing on elimination of heart attacks and strokes. Omron Healthcare is the global leader in treatment of heart health issues.

The market of Asia Pacific Patient Monitoring System is mainly driven by the factors such as increasing number of chronic disease in Asia Pacific as two in three deaths were from chronic disease worldwide in 2016. Nevertheless, there are certain factors that restrict the market from growing such as lack of trained staff and physicians…

Asia Pacific (APAC) Patient Monitoring System Market Key Players:- Omron healthcare Inc., Synopsis, Business Strategy, Product Portfolio, SWOT Analysis, Nihon Kohden , Abbott laboratories, Philip healthcare, Medtronic Plc., Roche diagnostic, Siemens healthcare, Lifewatch, Honeywell International, Scope Background.

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The Asia Pacific (APAC) Patient Monitoring System Market is segmented as follows:

  • By Asia Pacific (APAC) Patient Monitoring System Types (Market Size, Demand Analysis and Growth Analysis)
  • By Product Types (Market Size, Demand Analysis and Growth Analysis)
  • By End-User (Market Size, Demand Analysis and Growth Analysis)

Global patient monitoring system market is expected to reach USD 28.01 billion by 2024 from USD 14.21 billion in 2016 at a CAGR of 5.9% over the forecast period out of which APAC patient monitoring system market holds 20% market share in 2016. Asia Pacific patient monitoring system market is anticipated to reach USD 5.06 billion by 2024 from USD 2.84 billion in 2016 at a promising CAGR of 10.49% over the forecast period.

On the basis of devices, cardiac monitor are accounted for the largest share of around 25% in Asia Pacific patient monitoring system market in 2016. This is due to rising cases of heart attack in South Asia including India. Market value of cardiac monitor is USD 0.71 billion in 2016 and is anticipated to reach at USD 1.26 billion by 2024.

 Asia Pacific (APAC) Patient Monitoring System Market Based on Geography

  • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

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Growth Drivers & Challenges

Transforming healthcare system such as hospitals/clinics integrating IT with operations, in-country manufacturing, increasing options for micro-insurance, improvisation of care delivery, more solutions for providing POC healthcare, increasing focus on home diagnostics are driving the African healthcare market. Socio political movements associated with decreasing Africas dependence on foreign aid is gaining traction and efforts of regulatory harmonization across Africa tend to brighten up the African healthcare industry.

Challenging factors based on health workforce, medical products, vaccines and technologies, information, financing, and services delivery hinders the African healthcare system. Additionally, continuous confrontation by communicable and non-communicable diseases weakens the health system across the Africa.

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