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U.S. Patient Monitoring Systems Market by Component (Device, Service, and Connectivity Technology): Opportunity Analysis and Industry Forecast, 2020–2027

A06734
Pages: 200
Sep 2020 | 405 Views
 
Author(s) : Sahil Sinha , Ravi Kiran
Tables: 35
Charts: 59
 

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The U.S. Patient Monitoring Systems Market was valued at $12,200.96 million in 2019, and is projected to reach $22,583.40 million by 2027, registering a CAGR of 5.21% from 2020 to 2027.

The aim of patient monitoring is to give warning of early or dangerous deterioration of health. Patient monitoring systems are used to measure, record, distribute, and display combinations of biometric values such as heart rate, blood oxygen saturation levels (SPO2), blood pressure, and temperature. They are used to monitor patients regularly, which helps to avoid serious problems. This reduces number of emergency department visits and duration of hospitalization. With advancements in wireless technology, these devices can be used remotely to monitor physiological parameters of patients. Patient monitoring devices such as pulse oximeters, capnographs, and cardiac monitors are increasingly used in major hospitals, clinics, and various outpatient centers. These devices are commonly used during minor and major surgeries to monitor physiological signs of patients and intervene, if any complications occur. These devices can also help healthcare professionals to monitor vital signs of multiple patients at the same time. Some of these devices are also used to alert physicians, in case parameter levels are either above or below the limit set by physicians. Moreover, with the help of remote monitoring devices, physicians can remotely monitor physiological parameters such as blood glucose level, blood pressure, and heart rate; and accordingly provide appropriate treatment for patients.

Patient-Monitoring-Systems--Market-2020-2027

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The U.S. patient monitoring systems market is expected to witness a significant growth during the forecast period. The growth can be attributed to increase in geriatric population and rise in adoption of remote patient monitoring devices. Rise in prevalence of chronic diseases such as COPD, diabetes, cancer, and atherosclerosis also contribute toward growth of the patient monitoring devices market. Moreover, collaborations between companies, hospitals, and academic institutions are expected to lead to launch of new products, which would help increase the market revenue and, therefore, boost the U.S. patient monitoring systems market growth. 

However, data privacy & security issues are likely to restrain growth of the U.S. patient monitoring systems market. Moreover, government regulations and reimbursement issues also hamper growth of the U.S patient monitoring system market. Conversely, increase in adoption of AI and analytics is expected to create lucrative opportunities for the market during the forecast period. Further, growth in IoT healthcare applications is also projected to provide significant growth opportunities for the U.S. Patient Monitoring Systems Market.

U.S. Patient Monitoring Systems Market
By Component

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Devices segment holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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Though most of the markets are dropping down, COVID-19 outbreak has positively affected various healthcare related markets, one of them being patient monitoring systems. Presently, the patient monitoring systems market is witnessing a tremendous growth. As they play a crucial role to combat pandemic and monitor patients. Patient monitoring systems including cardiac monitors, respiratory devices, and temperature monitoring devices are facing huge demand, owing to their immense use in patient treatment along with IoT technology. In addition, IoT, specifically when combined with other transformative technologies such as Cloud and Artificial intelligence (AI), lead to a wide range of applications in patient monitoring, which have been beneficial during the crisis. 

U.s. Patient Monitoring Systems Market Segmentation  

The U.S. patient monitoring system market is segmented into component, which is divided into devices, services, and connectivity type. By device, the market is further categorized into hemodynamic monitoring devices, neuromonitoring devices, cardiac monitoring devices, fetal & neonatal monitoring devices, respiratory monitoring devices, multiparameter monitoring devices, weight monitoring devices, temperature monitoring devices, and urine output monitoring devices. The service segment is further divided into consulting, system integration & deployment, and support & maintenance. The connectivity technology segment is further categorized into cellular IoT - 3G, cellular IoT - 4G, LoRa, Wi-Fi, SIGFOX, wireline, wireless personal area network (WPAN), and others.

U.S. Patient Monitoring Systems Market
By Device Type

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Remote patient monitoring devices is projected as one of the most lucrative segment.

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Segment Review

On the basis of component, the device segment acquired major share of the U.S. Patient Monitoring Systems Market and is expected to experience rapid growth during the forecast period, owing to high demand of patient monitoring devices. Moreover, collaborations between companies, hospitals, and academic institutions are expected to lead to launch of new products, which would help increase the market revenue and boost the U.S. Patient Monitoring Systems Market growth. 

The U.S. Patient Monitoring Systems Market is highly competitive and prominent players have adopted various strategies to garner maximum U.S. patient monitoring systems market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Abbott Laboratories, Biotronik SE & CO. KG, Boston Scientific Corporation, Medtronic, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare Ltd, Masimo Corporation, Nihon Kohden Corporation, OSI Systems, Inc. (Spacelabs Healthcare), and Koninklijke Philips N.V.

Key Benefits For Stakeholders

  • This report provides a detailed quantitative analysis of the current U.S. patient monitoring system market trends and future estimations from 2020 to 2027, which assists in identifying the prevailing market opportunities. 
  • An in-depth analysis of the country is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate country specific plans.
  • A comprehensive analysis of the factors that drive and restrain growth of the U.S. patient monitoring system market is provided.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

Key Market Segments

By Component

  • Devices
    • Hemodynamic Monitoring Devices
    • Neuromonitoring Devices
    • Cardiac Monitoring Devices
    • Fetal and Neonatal Monitoring Devices
    • Respiratory Monitoring Devices
    • Multiparameter Monitoring Devices
    • Remote Patient Monitoring Devices
    • Weight Monitoring Devices
    • Temperature Monitoring Devices
    • Urine Output Monitoring Devices
  • Service 
    • Consulting
    • System Integration and Deployment
    • Support and Maintenance
  • Connectivity Technology 
    • Cellular IoT- 3G
    • Cellular IoT- 4G
    • Wi-Fi
    • SIGFOX
    • Wireline
    • Wireless Personal Area Network (WPAN)
    • Others
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Top Player Positioning
3.4.Porter’s five forces analysis
3.5.COVID-19 impact on the market
3.6.Government regulations

3.6.1.U.S. FDA

3.7.Reimbursement scenarios
3.8.Clinical trials
3.9.Patent analysis

3.9.1.Patents Registered/Approved, 2011–2020
3.9.2.Patents Registered/Approved, by Applicants, 2011–2020
3.9.3.U.S. patent analysis, by market applicants

3.10.Market Dynamics

3.10.1.Drivers

3.10.1.1.Rise in prevalence of lifestyle diseases
3.10.1.2.Increase in geriatric population
3.10.1.3.Rise in the adoption of remote patient monitoring devices

3.10.2.Restraints

3.10.2.1.Government regulations and reimbursement issues
3.10.2.2.Limited awareness and high costs

3.10.3.Opportunities

3.10.3.1.Technological advancements

CHAPTER 4:PATIENT MONITORING SYSTEMS MARKET, BY COMPONENT

4.1.Overview

4.1.1.Market size and forecast

4.2.Device

4.2.1.Market size and forecast
4.2.2.Hemodynamic monitoring devices

4.2.2.1.Key market trends and opportunity
4.2.2.2.Market size and forecast

4.2.3.Neuromonitoring devices

4.2.3.1.Key market trends and opportunities
4.2.3.2.Market size and forecast

4.2.4.Cardiac monitoring devices

4.2.4.1.Key market trends and opportunities
4.2.4.2.Market size and forecast

4.2.5.Fetal neonatal monitoring devices

4.2.5.1.Key market trends and opportunities
4.2.5.2.Market size and forecast

4.2.6.Respiratory monitors

4.2.6.1.Key market trends and opportunities
4.2.6.2.Market size and forecast

4.2.7.Multiparameter monitoring devices

4.2.7.1.Key market trends and opportunities
4.2.7.2.Market size and forecast

4.2.8.Remote patient monitoring devices

4.2.8.1.Key market trends and opportunities
4.2.8.2.Market size and forecast

4.2.9.Weight monitoring devices

4.2.9.1.Key market trends and opportunities
4.2.9.2.Market size and forecast

4.2.10.Temperature monitoring devices

4.2.10.1.Key market trends and opportunities
4.2.10.2.Market size and forecast

4.2.11.Urine output monitoring

4.2.11.1.Key market trends and opportunities
4.2.11.2.Market size and forecast

4.3.Service

4.3.1.Market size and forecast
4.3.2.Consulting

4.3.2.1.Market size and forecast

4.3.3.System Integration and Deployment

4.3.3.1.Market size and forecast

4.3.4.Support and Maintenance

4.3.4.1.Market size and forecast

4.4.Connectivity Technology

4.4.1.Cellular IoT - 3G

4.4.1.1.Market size and forecast

4.4.2.Cellular IoT - 4G

4.4.2.1.Market size and forecast

4.4.3.Wi-Fi

4.4.3.1.Market size and forecast

4.4.4.SIGFOX

4.4.4.1.Market size and forecast

4.4.5.Wireline

4.4.5.1.Market size and forecast

4.4.6.Wireless Personal Area Network (WPAN)

4.4.6.1.Market size and forecast

4.4.7.Others

4.4.7.1.Market size and forecast

CHAPTER 5:COMPANY PROFILES

5.1.ABBOTT LABORATORIES

5.1.1.Company overview
5.1.2.Company snapshot
5.1.3.Operating business segments
5.1.4.Product portfolio
5.1.5.Business performance
5.1.6.Key strategic moves and developments

5.2.BIOTRONIK SE & CO. KG

5.2.1.Company overview
5.2.2.Company snapshot
5.2.3.Operating business segments
5.2.4.Product portfolio
5.2.5.Key strategic moves and developments

5.3.BOSTON SCIENTIFIC CORPORATION

5.3.1.Company overview
5.3.2.Company snapshot
5.3.3.Operating business segments
5.3.4.Product portfolio
5.3.5.Business performance
5.3.6.Key strategic moves and developments

5.4.GENERAL ELECTRIC COMPANY (GE HEALTHCARE)

5.4.1.Company overview
5.4.2.Company snapshot
5.4.3.Operating business segments
5.4.4.Product portfolio
5.4.5.Business performance
5.4.6.Key strategic moves and developments

5.5.F. HOFFMANN-LA ROCHE LTD.

5.5.1.Company overview
5.5.2.Company snapshot
5.5.3.Operating business segments
5.5.4.Product portfolio
5.5.5.Business performance
5.5.6.Key strategic moves and developments

5.6.KONINKLIJKE PHILIPS N.V. (PHILIPS HEALTHCARE)

5.6.1.Company overview
5.6.2.Company snapshot
5.6.3.Operating business segments
5.6.4.Product portfolio
5.6.5.Business performance
5.6.6.Key strategic moves and developments

5.7.MASIMO CORPORATION

5.7.1.Company overview
5.7.2.Company snapshot
5.7.3.Product portfolio
5.7.4.Business performance
5.7.5.Key Strategic Moves and Developments

5.8.MEDTRONIC PLC.

5.8.1.Company overview
5.8.2.Company snapshot
5.8.3.Operating business segments
5.8.4.Medtronic offers following patient monitoring devices
5.8.5.Business performance
5.8.6.Key strategic moves and developments

5.9.NIHON KOHDEN CORPORATION

5.9.1.Company overview
5.9.2.Company snapshot
5.9.3.Operating business segments
5.9.4.Product portfolio
5.9.5.Business performance
5.9.6.Key strategic moves and developments

5.10.OSI Systems, Inc. (Spacelabs Healthcare)

5.10.1.Company overview
5.10.2.Company snapshot
5.10.3.Operating business segments
5.10.4.Product portfolio
5.10.5.Business performance
5.10.6.Key Strategic Moves and Development

LIST OF TABLES

TABLE 01.CLINICAL TRIALS: PATIENT MONITORING SYSTEMS MARKET, 2013–2020
TABLE 02.PATENTS REGISTERED/APPROVED ACROSS THE GLOBE, 2011–2020
TABLE 03.PATENTS REGISTERED/APPROVED, BY APPLICANTS, 2011–2020
TABLE 04.U.S. PATENT ANALYSIS, BY MARKET APPLICANTS, 2011- 2020
TABLE 05.U.S. PATIENT MONITORING SYSTEMS MARKET, BY COMPONENT, 2019–2027 ($MILLION)
TABLE 06.U.S. PATIENT MONITORING SYSTEMS MARKET, BY DEVICE TYPE, 2019–2027 ($MILLION)
TABLE 07.U.S. PATIENT MONITORING SYSTEMS MARKET, BY SERVICE TYPE, 2019–2027 ($MILLION)
TABLE 08.ABBOTT: COMPANY SNAPSHOT
TABLE 09.ABBOTT: OERATING SEGMENT
TABLE 10.ABBOTT: PRODUCT PORTFOLIO
TABLE 11.BIOTRONIK: COMPANY SNAPSHOT
TABLE 12.BIOTRONIK: OPERATING SEGMENTS
TABLE 13.BIOTRONIK: PRODUCT PORTFOLIO
TABLE 14.BOSTON SCIENTIFIC CORPORATION: COMPANY SNAPSHOT
TABLE 15.BOSTON SCIENTIFIC CORPORATION: OPERATING SEGMENTS
TABLE 16.BOSTON SCIENTIFIC CORPORATION: PRODUCT PORTFOLIO
TABLE 17.GE: COMPANY SNAPSHOT
TABLE 18.GE: OPERATING SEGMENTS
TABLE 19.GE: PRODUCT PORTFOLIO
TABLE 20.ROCHE: COMPANY SNAPSHOT
TABLE 21.ROCHE: OERATING SEGMENT
TABLE 22.ROCHE: PRODUCT PORTFOLIO
TABLE 23.PHILIPS: COMPANY SNAPSHOT
TABLE 24.PHILIPS: OPERATING SEGMENTS
TABLE 25.PHILIPS: PRODUCT PORTFOLIO
TABLE 26.MASIMO: COMPANY SNAPSHOT
TABLE 27.MASIMO: PRODUCT PORTFOLIO
TABLE 28.MEDTRONIC: COMPANY SNAPSHOT
TABLE 29.MEDTRONIC: OPERATING BUSINESS SEGMENTS
TABLE 30.MEDTRONIC: PRODUCT PORTFOLIO
TABLE 31.NIHON KOHDEN CORPORATION: COMPANY SNAPSHOT
TABLE 32.NIHON KOHDEN: PRODUCT PORTFOLIO
TABLE 33.OSI SYSTEMS: COMPANY SNAPSHOT
TABLE 34.OSI SYSTEMS: OPERATING SEGMENTS
TABLE 35.OSI SYSTEMS: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.TOP INVESTMENT POCKETS: U.S. PATIENT MONITORING SYSTEMS MARKET, BY DEVICE TYPE
FIGURE 02.TOP WINNING STRATEGIES, BY YEAR, 2017–2020*
FIGURE 03.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2017–2020* (%)
FIGURE 04.TOP WINNING STRATEGIES, BY COMPANY, 2017–2020* (%)
FIGURE 05.TOP PLAYER POSITIONING
FIGURE 06.MODERATE BARGAINING POWER OF BUYERS
FIGURE 07.HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 08.HIGH THREAT OF NEW ENTRANTS
FIGURE 09.MODERATE THREAT OF SUBSTITUTION
FIGURE 10.HIGH COMPETITIVE RIVALRY
FIGURE 11.PATENTS REGISTERED/APPROVED, 2011–2020
FIGURE 12.PATENTS REGISTERED/APPROVED, BY APPLICANTS, 2011–2020
FIGURE 13.U.S. PATENT ANALYSIS, BY MARKET APPLICANTS, 2011–2020
FIGURE 14.HEMODYNAMIC MONITORING DEVICES MARKET, 2019-2027
FIGURE 15.NEUROMONITORING DEVICE MARKET, 2019-2027
FIGURE 16.CARDIAC MONITORING DEVICES MARKET, 2019-2027
FIGURE 17.FETAL AND NEONATAL MONITORING DEVICES MARKET, 2019-2027
FIGURE 18.RESPIRATORY MONITORS MARKET, 2019-2027
FIGURE 19.MULTIPARAMETER MONITORING DEVICES MARKET, 2019-2027
FIGURE 20.REMOTE PATIENT MONITORING DEVICES MARKET, 2019-2027
FIGURE 21.WEIGHT MONITORING DEVICES MARKET, 2019-2027
FIGURE 22.TEMPERATURE MONITORING DEVICES MARKET, 2019-2027
FIGURE 23.URINE OUTPUT MONITORING DEVICES MARKET, 2019-2027
FIGURE 24.PATIENT MONITORING SYSTEMS MARKET FOR CONSULTING, 2019-2027
FIGURE 25.PATIENT MONITORING SYSTEMS MARKET FOR SYSTEM INTEGRATION AND DEPLOYMENT, 2019-2027
FIGURE 26.PATIENT MONITORING SYSTEMS MARKET FOR SUPPORT AND MAINTENANCE, 2019-2027
FIGURE 27.PATIENT MONITORING SYSTEMS MARKET FOR CELLULAR IOT - 3G, 2019-2027
FIGURE 28.PATIENT MONITORING SYSTEMS MARKET FOR CELLULAR IOT - 4G, 2019-2027
FIGURE 29.PATIENT MONITORING SYSTEMS MARKET FOR WI-FI, 2019-2027
FIGURE 30.PATIENT MONITORING SYSTEMS MARKET FOR SIGFOX, 2019-2027
FIGURE 31.PATIENT MONITORING SYSTEMS MARKET FOR WIRELINE, 2019-2027
FIGURE 32.PATIENT MONITORING SYSTEMS MARKET FOR WIRELESS PERSONAL AREA NETWORK (WPAN), 2019-2027
FIGURE 33.PATIENT MONITORING SYSTEMS MARKET FOR OTHERS, 2019-2027
FIGURE 34.ABBOTT: NET SALES, 2017–2019 ($MILLION)
FIGURE 35.ABBOTT: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 36.ABBOTT: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 37.BOSTON SCIENTIFIC CORPORATION: NET SALES, 2017–2019 ($MILLION)
FIGURE 38.BOSTON SCIENTIFIC CORPORATION: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 39.BOSTON SCIENTIFIC CORPORATION: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 40.GE: NET SALES, 2017–2019 ($MILLION)
FIGURE 41.GE: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 42.GE: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 43.ROCHE: NET SALES, 2017–2019 ($MILLION)
FIGURE 44.ROCHE: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 45.ROCHE: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 46.PHILIPS: NET SALES, 2017–2019 ($MILLION)
FIGURE 47.PHILIPS: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 48.PHILIPS: REVENUE SHARE, BY REGION, 2019(%)
FIGURE 49.MASIMO: NET SALES, 2017-2019 ($MILLION)
FIGURE 50.MASIMO: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 51.MEDTRONIC: NET SALES, 2017–2019 ($MILLION)
FIGURE 52.MEDTRONIC: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 53.MEDTRONIC: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 54.NIHON KOHDEN: NET SALES, 2016–2018 ($MILLION)
FIGURE 55.NIHON KOHDEN: REVENUE SHARE, BY PRODUCT SEGMENT, 2018 (%)
FIGURE 56.NIHON KOHDEN: REVENUE SHARE, BY REGION, 2018 (%)
FIGURE 57.OSI SYSTEMS: NET SALES, 2016–2018 ($MILLION)
FIGURE 58.OSI SYSTEMS: REVENUE SHARE, BY SEGMENT, 2018 (%)
FIGURE 59.OSI SYSTEMS: REVENUE SHARE, BY REGION, 2018 (%)

 
 

The patient monitoring systems are used to monitor, measure, and record various physiological parameters of a patient. Owing to rise in prevalence of various cardiac diseases, the market is dominated by the cardiac monitoring devices segment, which is expected to account for major revenue generation during the forecast period. The remote patient monitoring devices segment is estimated to be the fastest growing segment, registering a CAGR of 5.98% during the forecast period. This is mainly attributed to growth in awareness about several benefits of using remote patient monitoring devices such as reduced hospital stay time, improvement in clinical outcomes, and reduction in number of hospital readmissions. Various advancements in patient monitoring technology such as improvement in performance, utility, usability, & sensitivity, and decrease in size of devices are expected to boost growth of the market. The growth of patient monitoring systems market is anticipated to be largely contributed by rise in incidences of lifestyle diseases and increase in geriatric population. However, data privacy & security issues are likely to restrain growth of the market. In contrast, increase in adoption of AI and analytics are expected to create lucrative opportunities for the market during the forecast period.

 

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FREQUENTLY ASKED QUESTIONS?
 

A. The total market value of U.S. patient monitoring systems market is $12,200.96 million in 2019.

A. The forcast period for U.S. patient monitoring systems market is 2020 to 2027

A. The expected market value of U.S. patient monitoring systems market in 2027 is $22,583.40 million.

A. The base year is 2019 in U.S. patient monitoring systems market

A. Top companies such as, Medtronic, Boston Scientific Corporation, Masimo Corporation, Koninklijke Philips N.V, GE Healthcare Ltd and Omron Corporation held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in the U.S.

A. Device segment is the most influencing segment owing to high demand of devices and surge in investment by key players in connectivity to strengthen their portfolio for U.S. Patient Monitoring Systems Market

A. The major factor that fuels the growth of the global U.S. patient monitoring systems market includes the rise in adoption of remote patient monitoring and increase in geriatric population.

A. Remote pateint monitoring devices has the highest growth rate in the market with a CAGR of 6.0%. This can be attributed due to the various benefits it offers and rise in its adoption.

A. Patient monitoring is the observation of a disease, condition or one or several medical parameters over time.

A. Patient monitoring used to measure, record, distribute, and display combinations of biometric values such as heart rate, blood oxygen saturation levels (SPO2), blood pressure, and temperature. Patient monitoring devices are commonly used during minor and major surgeries to monitor physiological signs of patients and intervene, if any complications occur.

 

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