US Patient Monitoring Devices Market Forecast To Grow $500 Million By 2019 Despite Pricing Pressures, Spending Slowdown
Despite slowdowns in capital equipment spending and strong pricing pressures, the US patient monitoring device market will grow by over $500 million between 2014 and 2019, reaching more than $2.5 billion by 2019 – a CAGR of almost 5%. Several factors are driving growth in this market, including the need for seamless solutions that can provide monitoring from hospital to home, and the growing adoption of portable and wearable technologies.
You may also be interested in...
Market Intel: Medtronic, Philips, Masimo, And Others Keep Pulse Beating In Oximetry Patient Monitoring Market
Demand for reliable, accurate, high-quality pulse oximetry devices in and – increasingly – outside hospitals is driven by the rise of chronic diseases, a growing elderly population prone to asthma, heart disease, sleep apnea and chronic obstructive pulmonary disease, as well as the need to monitor oxygen levels in premature babies. According to a new report by Meddevicetracker, the global market for standalone, hospital-grade pulse oximetry devices and accessories will reach $1.9bn by 2021, a CAGR of 5.4% from 2016. In this feature, we'll take a closer look at the overall pulse oximetry market, the major players and which forces are driving – and stymying – its growth.
When Masimo chairman and CEO Joe Kiani saw Atheer's smart glasses and virtual reality platform, he thought the possibilities for patient monitoring were endless. Now the two companies have joined forces and are moving quickly to turn virtual reality into a clinical reality with a prototype interactive display and novel patient monitoring system that they say has the power to transform health care and the market for patient monitoring, which is estimated at more than $2 billion in the US alone according to an upcoming report from Medtech Insight.
Pain relief product sales grew 27% and upper respiratory sales 35% for the week ended 7 March as consumers respond to COVID-19, according to Nielsen data noted in a Jefferies report on consumer health purchasing trends. Private label market share is up slightly, while OTC purchases continue primarily in conventional stores.