Description

Patient Monitoring Devices Market Size exceeded USD 23.4 billion in 2021 and is predicted to witness over 7.0% CAGR from 2022 to 2028. Patient monitoring devices are the devices with the digital technology used to measure the person’s health condition. The accuracy of the results with patient monitoring devices may help to early diagnosis of the disease, leads to more efficient and specific treatment. The major advantages of the patient monitoring devices include accuracy of the results with less time and reduce the cost for disease diagnosis. These devices are commonly used to measure oxygen saturation level, pulse rate, body temperature, blood pressure, and heart activity among others. Physicians prefer the patient monitoring devices to enhance the excellence in the patient care. Global Patient Monitoring Devices Market is growing at a significant CAGR owing to increase in the prevalence of chronic diseases such as diabetes, cardiovascular, and neurological advancements. Market players majorly focusing on the innovation of new devices with advanced technology to gain larger market share. Acquisitions and mergers, collaborations, product approvals, product launchings, and patent approvals are the strategies followed by the competitors for increasing their revenue in the patient monitoring devices market. For instance, in September 2015, Zoll Medical Corporation acquired Kyma Medica Technology for broadening the product portfolio in cardiovascular monitoring devices. In addition, in March 2014, Nihon Kohden has awarded a U.S. patent for the advanced technology which reduces the false alarms in the patient monitoring systems. In April 2017, Cardinal Health acquired Medtronic’s patient monitoring and recovery division for advancing its revenue in patient monitoring devices market. In April 2016, Abbott acquired St. Jude medical for strengthening its product portfolio with patient monitoring devices.

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