According to the research report titled ‘Patient Monitoring Devices Market Size By Product (Cardiac Monitoring Devices {ECG Devices, Implantable Loop Recorders, Mobile Cardiac Telemetry Monitors, Smart Wearable ECG Patches}, Neuromonitoring Devices {EEG Devices, Cerebral Oximeters, Intracranial Pressure Monitors, EMG Devices}, Respiratory Monitoring Devices {Pulse Oximeters, Spirometers, Capnographs, Peak Flow Meters}, Anesthesia Monitor, Hemodynamic Monitoring Devices, Fetal and Neonatal Monitoring, Multiparameter Devices), By Type (Conventional, Wireless), By End-use (Hospitals, Ambulatory Surgical Centers (ASCs), Homecare Settings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, India, China, Japan, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, the global patient monitoring devices market is expected to cross USD 27 billion by 2025.
 

According to the report, growing elderly population coupled with increased pervasiveness of chronic diseases has led to rising number of hospitalizations which in turn is driving the patient monitoring devices market growth. Patient monitoring devices facilitate clinicians and doctors to monitor patient’s health efficiently. This factor along with advancements in technology pertaining to patient monitoring devices are further aiding the expansion of the market.
 

Technological advancements such as screen touch and automation solutions have eased operations for clinicians and doctors. Moreover, these advancements in patient monitoring systems have decreased the mortality rates among patients with chronic disorders, which in turn is stimulating the industry outlook. However, high costs of such devices will hinder the market growth.
 

As per product type, the report states that anesthesia monitoring devices market segment was worth USD 1 billion in the year 2018 and is expected to register substantial growth during the forecast period. Rising number of surgeries which require critical monitoring systems has led to growing demand for anesthesia monitoring systems, thereby facilitating the business scenario.
 

In terms of type, the wireless patient monitoring devices market segment is estimated to expand with a CAGR of 5% during 2019-2025. Shifting preferences towards tele health solutions due to efficient monitoring solutions offered by wireless monitoring devices are fueling the segmental growth.
 

Citing the end-use landscape, the report cites that hospitals segment held 41% share in the patient monitoring devices market in the year 2018 and is poised to amass commendable gains in the ensuing years. Favorable government initiatives which promote patient monitoring equipment in public hospitals along with increasing hospitalizations are propelling the growth of the segment.
 

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Considering the geographical landscape, the Europe patient monitoring devices industry was worth USD 5 billion in the year 2018 and is projected to witness continuous growth during the projected timeline. Rising prevalence of chronic diseases among geriatric population are contributing towards the popularity of patient monitoring devices across the region.
 

The prominent companies operating in the patient monitoring devices market are Medion Healthcare, Opto India, Sensata Technologies, Epsimed, Skanray Technologies, Mindray, Hill-Rom Holdings, Medtronics, Fukuda, OSI Systems, Nihon Kohden, GE Healthcare, Siemens, and Philips.