Fact.MR’s report on the global mobile continuous patient monitor market forecasts a steady growth through 2021 owing to the burgeoning demand for technologically equipped devices to track patients’ health at home. Following the outbreak of COVID-19, the rising investments in the development of compact and portable devices and rising cases of chronic diseases have fuelled the demand for mobile continuous patient monitors.
According to the study, the focus on reducing clinical visits, which often acts as a challenge for patients with mobility issues will continue driving growth in 2021. Considering this, some of the leading companies have been investing in launch of cutting-edge technologies, which will bode well for the market.
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In January 2021, Biobeat, a global leader in continuous remote patient monitoring solutions for continuous health monitoring launched a health AI hospital at home monitoring kit. It provided medical staff with brief view of patient’s health and predictive AI patient deterioration system.
Key Takeaways
- United States is projected to emerge as the largest market for mobile continuous patient monitor
- The UK and France are expected to emerge as lucrative markets within Europe
- China is expected to account for the highest revenue share in East Asia through 2021 and beyond
- India is expected to emerge as a potential market backed by the technological advancement in monitoring devices
- Based on indication, ECG and blood pressure are projected to dominate the market owing to the rising prevalence of diabetes and heart disease
- Portable and compact mobile continuous patient monitor devices are forecast to gain from the rising demand from consumers
Prominent Drivers
- Technological advancements in the patient monitoring device and the updated technological sensors to boost the demand
- Rising prevalence of the chronic disease and patients inclination to wear mobile patient monitor to bolster the growth
- Soaring demand for wireless monitoring devices among manufacturers is accelerating the mobile continuous patient monitor sales
- Demand for home care kit and remote medical services during pandemic to increase patient monitor device sales through 2031
Key Restraints
- Information leak and invasive properties associated with the monitoring devices is likely to hinder the growth
- High cost of the devices and inadequate reimbursement policies to limit the demand of market
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Competitive Landscape
Some of the prominent players identified in global mobile continuous patient monitor by Fact.MR includes OSI systems Inc., Schiller, Huntleigh Healthcare Limited, HEYER Medical AG, ELCAT, Promed Group Co., Radiometer Medical ApS, Masimo., myErka, Kalamed Medical Systems, Nihon Kohden Corporation, Koninklijke Philips, CNSystems Medizintechnik GmbH., Ltd., and Trimpeks among others. Key manufacturers are adopting R&D activities and mergers as an important strategy for their future expansion projects.
In February 2021, researchers at University of California San Diego launched a mHealth wearable monitor device that uses a patch to monitor cardiovascular signs and multiple biomarkers simultaneously.
Likewise, in August 2020, Statis lab launched app-connected remote patient monitoring platform in United States that tracks six vital signs with traditional vital sensors and is supporting cloud platform.
More Insights on the Mobile Continuous Patient Monitor Market
Fact.MR sheds an in-depth analysis on global mobile continuous patient monitor market. The report offers a detailed segmentation on mobile continuous patient monitor market on the basis of product type (portable & compact and floor standing), indications (ECG, blood pressure, temperature, and hemoglobin), end-users (intensive care, ambulatory surgical center, hospitals and home care settings), and regions (North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan and China, China and Middle East & Africa)
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