Physiological Monitors Market: Introduction
- Continuous monitoring is a valuable tool that helps provide additional information to the medical and nursing staff about the Physiological condition of a patient. Using this information, the clinical staff can evaluate a patient’s condition and make appropriate treatment decisions. These Physiological Monitors systems usually include a central station monitor that receives, consolidates, and displays information and a set of monitors that are deployed near the patient (bedside monitors) to provide the required data of the patient (ECG, respiratory rate, noninvasive blood pressure (NIBP), invasive blood pressure (IBP) (systolic, diastolic, and mean), body temperature, (SpO2), mixed venous oxygenation (SvO2), cardiac output, (ETCO2), intracranial pressure, and airway gas concentrations).
- Physiological monitors are modular, configured, or both. Configured monitors have built-in capabilities. Modular systems feature individual modules for each monitoring parameter or a group of parameters. These modules can be used in any combination with each bedside monitor or changed from one monitor to another.
- Some devices are both modular and configured systems. Several Physiological monitoring systems include a central station capable of displaying ECG waveforms and other information from bedside to the main system, while others are equipped with alarms that are coordinated with those at the bedside monitor.
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Key Drivers of Global Physiological Monitors Market
Rise in Prevalence of Lifestyle Diseases:
- According to the American Diabetes Association, cardiovascular disease (including stroke), cancer, and diabetes account for approximately two-thirds of the total deaths in the U.S. and US$ 700 billion in direct and indirect economic costs each year.
- These diseases undermine health, shorten life expectancy, cause enormous suffering and disability, and incur high economic cost.
Increase in Geriatric Population:
- According to the WHO, the speed of population ageing around the world is increasing rapidly. France had almost 150 years to adapt to a change from 10% to 20% in the proportion of the population that was older than 60 years.
- Likewise, countries such as Brazil, China and India will have more than 20 years to make the same adaptation.
Product Recall and Migration of Colonic Stent
- Product recalls by the Food and Drug Administration are likely to hamper the growth of the global Physiological Monitors Market. For instance, on May 14, 2018 Infinity Acute Care System (lACS) Monitoring Solution offered by Draegar Medical Systems, Inc. was recalled.
- The reason for the recall of the product is the Software anomaly resulting in the loss of patient settings and stored patient data.
North America to Hold a Major Share of Global Physiological Monitors Market
- North America is expected to hold the major share of the global Physiological Monitors Market. The Physiological monitors market is expected to grow in North America at a rapid pace and certain factors that are driving this growth include rising incidence of chronic diseases due to the lifestyle changes in the region, increase in the aging population and need to reduce the healthcare expenditure.
- North America region is growing at a rapid pace and certain factors that are driving this growth include rising incidence of chronic diseases due to the lifestyle changes in the region, increase in the aging population and need to reduce the healthcare expenditure
- The Physiological Monitors Market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to preference for minimally invasive procedures. The prevalence and incidence of colorectal cancer is increasing in the region. According to the Indian Council of Medical Research, in India, the annual incidence rate of colon cancer in men and women is 4.4 and 3.9 per 100,000 people, respectively.
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Key Players Operating in Global Market:
The global Physiological Monitors Market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective region. The demand for colonic stent has increased in emerging as well as developed markets. Industry players are adopting practices of appointing third-party distributors to expand their market presence. This has led to a surge in the number of distributors and suppliers in emerging markets. Leading players operating in the global Physiological Monitors Market are:
- F. Hoffmann-La Roche Ltd
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- GE Healthcare
- Other Prominent Players
Global Physiological Monitors Market: Research Scope
Global Physiological Monitors Market, by Product
- Hemodynamic Monitoring Devices
- Neuromonitoring Devices
- Cardiac Monitoring Devices
- Fetal & Neonatal Monitoring Devices
- Respiratory Monitoring Devices
- Multiparameter Monitoring Devices
- Remote Patient Monitoring Devices
- Weight Monitoring Devices
- Temperature Monitoring Devices
- Urine Output Monitoring Devices
Global Physiological Monitors Market, by Application
- Fetal & Neonatal
- Weight Management & Fitness Monitoring
Global Physiological Monitors Market, by End-user
- Hospitals & Clinics
- Home Settings
- Ambulatory Surgical Centers (ASC)
Global Physiological Monitors Market, by Region
- North America
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.