Rising Diagnostic Procedures Propels the U.S. Patient Monitoring Market to Reach $11.2B by 2030
VANCOUVER, BC, CANADA, December 14, 2023 /EINPresswire.com/ -- In a comprehensive report on the U.S. Market for Patient Monitoring Equipment, iData Research delves into a wide array of segments, including the multi-parameter vital signs monitoring, wireless ambulatory telemetry, remote patient monitoring, intracranial pressure monitoring, electromyogram (EMG) monitoring, electroencephalogram (EEG) monitoring, cerebral oximetry monitoring, fetal and neonatal monitoring, pulse oximetry monitoring, cardiac output monitoring, blood pressure monitoring, electrocardiogram (ECG) monitoring, temperature management, intraoperative neurophysiology monitoring, and capnography monitoring markets. The train-of-four monitoring market is also included as an appendix.
Despite the increasing need for effective patient monitoring solutions, certain hospitals face challenges in acquiring high-cost monitoring platforms due to budget limitations. Moreover, dwindling hospital profit margins, reductions in reimbursement, and industry consolidation—such as private practices opting for affiliation with hospitals for added security—constrain the overall market potential and amplify the bargaining power of group policy organizations. Although alternative care options are on the rise, they may struggle to surpass the rapid pace of industry consolidation.
The dominant trend in the US patient monitoring equipment market revolves around the incorporation of monitoring devices into Internet of Things (IoT) environments. This trend is underscored by robust high-single-digit growth in the remote patient monitoring market, a trajectory anticipated to persist in the forecasted period. In addition to the development of monitoring devices tailored for non-professional care settings, numerous established patient monitors are undergoing upgrades to encompass wireless connectivity and software compatibility. This enhancement aims to facilitate seamless system integration, fostering improved workflows.
As of 2023, the US Patient Monitoring Equipment Market reached nearly $8.5 billion, with projections indicating an increase to nearly $11.2 billion over the forecast period. Medtronic, Philips Healthcare, and GE Healthcare dominated the market collectively, holding the majority of the market share, boasting diverse product portfolios, and dominating key market segments.
For further insights into the US Patient Monitoring Equipment Market, access the complete iData Research report:
https://idataresearch.com/product/patient-monitoring-equipment-market-united-states/
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