(PharmaNewsWire.Com, April 23, 2018 ) Patient Monitoring could be a technology to collect medical and health-related information from people at one location and electronically transmit it to another supplier at another location. It is employed to remotely monitor and analyze physiological parameters such as blood levels, very important signs, force per unit area, heart rate, and glucose, which improves the standard of care, quality of life, and permits early prediction of aggravations and exacerbations.
The Europe Patient Monitoring Market is estimated to have a value of USD 3.68 billion in 2015. With a CAGR of 7.1%, the market size is expected to grow rapidly to cross USD 8.16 billion by 2020. Growing population in the age group of 60 & above and technological developments just like the mobility of apparatus are some of the factors fueling the market.
The market is growing at a gentle pace owing to the increase within the geriatric population, growth within the prevalence of patients littered with completely different way diseases, such as polygenic disorder, cancer, and atherosclerosis, a rise within the adoption rate of remote patient observance devices. The key players have centered on new development to satisfy the particular needs of the researchers. For instance, in September 2016, Nippon Kohden proclaimed the launch of the advanced side monitor referred to as BSM-3500.
Acquisition and collaboration is another key strategy that is adopted by the larger firms. These firms’ are effort smaller organizations to boost their product portfolio and gain extra market share. The collaborations between firms, hospitals, and educational establishments are expected to completely impact the market growth. For example, in Jan 2016, Qualcomm Life and Philips, the 2 larger players in this market, have announced their plans to collaborate with regards to the development of a new technology.
Europe Patient Monitoring Market is showing consistent growth in the last few years and is anticipated to continue the same in the forecast period. The major market contributors for the Patient Monitoring Market are Abbott Laboratories, Johnson & Johnson Inc., Covidien, Drager Medical GmbH, GE Healthcare, Mortara Instrument Inc., Natus, Nihon Kohden, Masimo Corporation, Nonin Medical, Omron Healthcare, Philips Healthcare, Roche Diagnostics Limited and Welch Allyn.
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